Marketing DSM Chapter 12 – Flashcards
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network marketing
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a system in which a master distributor recruits other people to become distributors, sells the company's product to the recruits, and receives a commission on all the merchandise sold by the people recruited
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characteristic of perishability
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adjusting pricing to influence demand
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merchandise mix
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total set of all products offered for sale by a retailer
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general merchandise discount store
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retailer that offers a broad assortment of items at low prices with minimal service
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hypermarkets
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retailers that are several times larger than other stores and offer virtually everything from grocery items to electronics
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factory outlet stores
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carry a limited selection from a single manufacturer. Examples include Gap Outlet and Coach Outlet
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supermarkets
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carry a large selection of food items and a limited selection of general merchandises
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box stores
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carry a limited selection of food items, many of which are store brands
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department stores
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carry a large selection of many product lines
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retailing
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final stop on the distribution path, in which organizations sell goods and services to consumers for their personal use
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direct selling
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an interactive sales process in which a salesperson presents a product to one individual or a small group, takes orders, and delivers the merchandise
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B2C e-commerce
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an online exchange between companies and individual customers
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retailtainment
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the use of retail strategies that enhance the shopping experience and create excitement, impulse purchases, and an emotional connection with the brand
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idea marketing
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a strategy that seeks to gain market share for a concept, philosophy, belief, or issue
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place marketing
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any activity that seeks to attract new businesses, residents, or visitors to a town, state, country, or some other site
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party-plan system
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sales technique that relies heavily on people getting caught up in the "group spirit," buying things they would not normally buy if they were alone
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service or act
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performance exchanged from producer to user without ownership rights
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reliabilty
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the ability to provide what was promised dependably and accurately
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retail borrowing
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the consumer practice of purchasing a product with the intent to return the nondefective merchandise for a refund after it has fulfilled the purpose for which it was purchases
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perishability
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makes it impossible to store for later sale or consumption
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servicescape
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the environment in which a service is delivered and where the firm and the customer interact
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shrinkage (mentioned in ch 1)
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loss experienced by a retailer due to shoplifting, employee theft, and damage to merchandise
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merchandise breadth
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# of different product lines available
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merchandise assorment
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the range of products a store sells
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merchandise depth
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the variety of choices available for each specific product line
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-Toys "R" Us -Best Buy
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example of a category killer -carries a large selection of items in one or a few product lines
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7-eleven
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example of convenience store
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-Costco -BJ's
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example of warehouse store
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-Walmart -Kmart
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example of a general merchandise discount store
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point of sale (POS) systems
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collect sales data and connect directly into the store's inventory-control system
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nonstore retailing
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any method used to complete an exchange with a product end user that does not require a customer visit to a store
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leased department
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a department within a larger retail store that an outside firm rents
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customer profiling
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the act of tailoring the level of customer service based on a customer's perceives ability to pay
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wheel-of-retailing hypothesis
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a theory that explains how retail firms change, becoming more upscale as they go through their life cycle
