Marketing 11th Edition Kerin, Hartley, & Rudelius–Chapter 16 – Flashcards
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Brokers
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Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales.
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Breadth of Product Line
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The variety of different product items a store carries.
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Category Management
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An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category.
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Central Business District
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The oldest retail setting, usually located in the community's downtown area.
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Community Shopping Center
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A retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20-minute drive.
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Depth of Product Line
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The store carries a large assortment of each product item.
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Form of Ownership
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Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
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Hypermarket
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A form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers every-thing in a single outlet, eliminating the need for consumers to shop at more than one location.
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Intertype Competition
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Competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy.
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Level of Service
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The degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.
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Manufacturer's Agents
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Agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory. Also called manufacturer's representatives.
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Merchandise Line
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Describes how many different types of products a store carries and in what assortment.
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Merchant Wholesalers
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Independently owned firms that take title to the merchandise they handle.
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Multichannel Retailers
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Retailers that utilize and integrate a combination of traditional store formats and non-store formats such as catalogs, television, home shopping, and online retailing.
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Off-Price Retailing
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Selling brand-name merchandise at lower than regular prices.
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Power Center
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A huge shopping strip with multiple anchor (or national) stores.
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Regional Shopping Centers
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Consist of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores.
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Retail Life Cycle
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The process of growth and decline that retail out-lets, like products, experience. Consists of the early growth, accelerated development, maturity, and decline stages.
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Retail Positioning Matrix
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A matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige.
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Retailing
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All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use.
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Retailing Mix
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The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.
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Scrambled Merchandising
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Offering several unrelated product lines in a single store.
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Shopper Marketing
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The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store.
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Strip Mall
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A cluster of neighborhood stores to serve people who are within a 5- to 10-minute drive.
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Telemarketing
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Using the telephone to interact with and sell directly to consumers.
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Wheel of Retailing
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A concept that describes how new forms of retail outlets enter the market.
