Marketing 11th Edition Kerin, Hartley, & Rudelius–Chapter 16 – Flashcards

Unlock all answers in this set

Unlock answers
question
Brokers
answer
Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales.
question
Breadth of Product Line
answer
The variety of different product items a store carries.
question
Category Management
answer
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.
question
Central Business District
answer
The oldest retail setting, usually located in the community's downtown area.
question
Community Shopping Center
answer
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.
question
Depth of Product Line
answer
The store carries a large assortment of each product item.
question
Form of Ownership
answer
Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
question
Hypermarket
answer
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.
question
Intertype Competition
answer
Competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy.
question
Level of Service
answer
The degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.
question
Manufacturer's Agents
answer
Agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory. Also called manufacturer's representatives.
question
Merchandise Line
answer
Describes how many different types of products a store carries and in what assortment.
question
Merchant Wholesalers
answer
Independently owned firms that take title to the merchandise they handle.
question
Multichannel Retailers
answer
Retailers that utilize and integrate a combination of traditional store formats and non-store formats such as catalogs, television, home shopping, and online retailing.
question
Off-Price Retailing
answer
Selling brand-name merchandise at lower than regular prices.
question
Power Center
answer
A huge shopping strip with multiple anchor (or national) stores.
question
Regional Shopping Centers
answer
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.
question
Retail Life Cycle
answer
The process of growth and decline that retail out-lets, like products, experience. Consists of the early growth, accelerated development, maturity, and decline stages.
question
Retail Positioning Matrix
answer
A matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige.
question
Retailing
answer
All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use.
question
Retailing Mix
answer
The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.
question
Scrambled Merchandising
answer
Offering several unrelated product lines in a single store.
question
Shopper Marketing
answer
The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store.
question
Strip Mall
answer
A cluster of neighborhood stores to serve people who are within a 5- to 10-minute drive.
question
Telemarketing
answer
Using the telephone to interact with and sell directly to consumers.
question
Wheel of Retailing
answer
A concept that describes how new forms of retail outlets enter the market.
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New