principles of marketing chapter 13 – Flashcards
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retailing
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all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
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retailer
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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 brand equity to "the last mile" and encouraged 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
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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 buyer or merchandisers
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supermarket
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a large, l0w-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 items, and services
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category killer
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giant specialty store that carries a very deep assortment of a particular line
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service retailer
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a retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many otherss
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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 at 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-prices retailer
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off-price retailer that is either independently owned and run or is a division of a ledger 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, discontinued, or irregular goods
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warehouse club
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an off-price retailer that sells a limited selection of brand-name grocery items, appliances, clothing, and other goods at deep discounts to members who pay an annual membership fee
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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 manufacturers, wholesaler, or service organization (franchisor) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system.
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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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wheel-of-retailing concept
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a concept that suggests new types of retailed usually being as low-margin, low-price, low-status operations but later evolve into higher-price, higher-service operations, eventually becoming like the conventional retailers they replaced
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wholesaling
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all the activities involved in selling goods and services to those buying for resale or business use
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wholesaler
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a firm engages primarily in wholesaling activities
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merchant wholesaler
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an independently owned wholesale business that takes title to the merchandise it handles
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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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agent
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a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods
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manufacturers' sales branches and offices
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wholesaling by sellers or buyers themselves rather than through independent wholesalers
