Marketing Chapter 11: Retailing & Wholesaling – Flashcards
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retailing
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All activities involved in selling goods or services directly to final consumers for their personal, non-business use
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Corporate Chain
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a firm that owns and manages more than one store
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Voluntary Chain
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wholesale-sponsored groups of independent retailers that engage in group buying and common merchandising.
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Retailer Cooperative
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Group of independent retailers who jointly establish a central buying organization and conduct joint promotion effort
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Franchise Organization
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a contractual vertical marketing system in which a channel member, called a franchisor, links several stages in the production-distribution process
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Self-Service Retailers
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Customers make their product selection without any assistance (Gas Station; Dollar Store)
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Limited-Service Retailers
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Some help is available, however customers make most selections without help (WalMart)
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Full-Service Retailers
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Customers are heavily assisted with the buying process (Buckle; Car Dealership)
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Shopper Marketing
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using in-store promotions and advertising to extend brand equity to "the last mile" and encourage favorable in-store 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 large retail store organized into departments offering a variety of merchandise
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Supermarket
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Large, low-cost, low-margin, high-volume, self-service operation
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Convenience Store
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Carries a limited line of high-turnover convenience products at slightly higher prices
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Discount Store
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Sells goods at lower prices with lower margins and higher volumes
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Off-Price Retiler
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Sells merchandise bought at less-than-regular wholesale prices and sold at less than retail
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Retail Pricing Strategies
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-Everyday low pricing (EDLP) -High-low pricing
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Shopping Center
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a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
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Types of Shopping Centers
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-Regional Shopping Center (Mall of America) -Community Shopping Center (15-50 stores) -Neighborhood Shopping Center (5-15 stores) -Power Center (Large stores all grouped together; open air) -Lifestyle Center (Open Air; has something to do in addition to shopping)
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Retailing Trends
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-Tighter consumer spending -New retail forms, shortening retail life cycles, and retail convergence -Rise of Megaretailers -Growth of direct, online, mobile, and social media retailing -Showrooming
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Showrooming
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Checking out merchandise and prices in a retail showroom but buying from an online-only rival
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Merchant Wholesaler
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Independently owned firms that take title to the goods they handle
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Broker
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A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
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Agents
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Represent buyers or sellers on a relatively permanent basis
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Manufacturers' and Retailers' branches & offices
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Wholesaling by sellers or buyers themselves rather than through independent wholesalers
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Wholesaler
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A firm engaged primarily in wholesaling activities
