Chapter 11 retailing and wholesaling – Flashcards
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Retailing involves sales primarily to which group of people?
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Consumers
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Which of he following best describes a retailer who buys at less-than -regular wholesale prices and sees at less than retail?
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off-price retailer
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Which of the following is not considered a retailer marketing decision?
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Financing
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The practice of charging higher prices on an every day basis while offering frequent promotions and sales is known as what?
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High-Low pricing
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retailers and wholesalers are similar in which of the following?
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both focus on bringing value to customers
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which of the following is a decision that is made by both retailers and wholesalers?
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segmentation of target market
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how can a smaller retailer compete with a megaretailer in the same market?
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create unique offerings to gain proper positioning
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which of the following dos not explain why megaretailers are becoming so successful?
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more innovative advertising techniques
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retailing
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all the activities involved in selling good and services directly to final consumers for their personal nonbusiness use
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retailer
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a business whose sales come primarily from retailing
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shopper marketing
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using in-store promotions and advertising to extend bran equity to "the last mile" and encourage favorable point-of-purchase decisions
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specialty store
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a retail store that carries a narrow product line with a deep assortment within that line
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department store
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a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers and merchandisers
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supermarket
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a large, low-cost, low-margin, high-volume,self-service store that carries a wide variety of grocery and household products
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convenience store
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a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.
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superstore
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a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood products, and services
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category killer
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a giant specialty store that carries a very deep assortment of a particular brand
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service retailer
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a retailer whose product line is actually a service, hotels airlines and banks
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discount store
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a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling higher volume
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off-price retailer
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a retailer that buys at less-than-regular wholesale prices and sells at less than retail
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independent off-price retailer
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an off-price retailer that is either independently owned and ru or is a division of a larger retail corporation
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factory outlet
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an off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discounted, or irregular goods.
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warhouse club
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an off-price retailer that sells a limited selection of bran name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees.
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corporate chains
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two or more outlets that are commonly owned and controlled
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franchise
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a contractual association between a manufacturer, wholesaler, or service organization and independently businesspeople who buy the right to own and operate one or more units in the franchise system
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retailer marketing decisions
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segmentation and targeting, store differentiation and positioning, and retail marketing mix
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shopping center
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a group of retail businesses built on a site that is applied, developed, ownerd, and managed as a unit
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life style centers
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smaller, open-air malls with upscale stores, convenient locations, and nonmetal activities
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power centers
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huge unenclosed shopping center consisting of a long strip of retail stores
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showrooming
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the shopping practice of coming into retail store showrooms to check out merchandise and prices but instead buying from an online-only rival, sometimes while in the store
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wholesaling
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all activités involved in selling good and services to those buying for resale or business use
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wholesaler
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a firm engaged primarily in whosalling activites
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selling and promoting
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wholesalers sales forces help manufacturers reach many small customers a a low cost
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buying and assortments building
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can select items and build assortments needed by custoemrs
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bulk breaking
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save their customers money by buying in carload lists and breaking bulk
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warehousing
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hold inventories, reducing inventory costs and risks of suppliers and customers
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transportation
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provide quicker delivery
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finacing
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finance their customers
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risk bearing
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absorb risk by taking title and breaking the cost of theft
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market info
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give info to suppliers and customers about competitors
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management service and advice
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help retailers train their salesclerks, improve store layouts, and displays
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merchant wholesaler
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an independently owner wholesaler business that takes title to the merchandise it handles
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manufacturers and retailers branches and offices
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wholesaling by sellers and buyers themselves rather than through independent wholesalers
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wholesaler marketing deicison
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segmentation and targeting, differentiation and positioning, marketing mix-product and service assortments, price, promotion, and distribution
