CH 15 -- Retailers. Wholesalers and Direct Marketers Flashcards
Retailing
Activities involved in selling merchandise to ultimate consumers
Wheel of Retailing
Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current supplies charge, the result of reducing or eliminating services
Stock Keeping Unit (SKU)
Offering within a produce line, such a a specific size of liquid detergent
Markdown
Amount by which a retailer service reduces the original selling price of a product
Atmospherics
Combination of physical characteristics and amenities that contribute to a store’s image
Convenience Retailers
Store tht appeals to customers by having a accessable location, long hours, rapid checkout and parking
Specialty Retailer
Store that combines carefully defined product lines, services, and reputationto persuade shoppers to spend considerable shopping effort there
Limited Line Store
Retailer that offers a large assortment within a single product line or related ones
Category killer
Store offering a huge selections and low prices on single product lines
Mass Merchandiser
Store that stocks a wider line of goods that a department store, usually without the same depth of assortment within each line
Hypermarket
Giant one-stopa shopping facility offering wide selections of grocery items and general merchandise at discount prices
Scrambled Merchandising
Retailing practice of combining dissimilar products lines to boost sales volume
Merchant Wholesaler
Independently owned wholesaling intermediary that takes title to the goods it handles, aka industrial distributor
COmissions Merchant
Agent wholesaling company intermediary that takes possessions of goods shipped to central market for sale, acts as agent to producer
Broker
Agent wholesaling intermediary that does not take title or possession ot goods in the course of its primary function
