Chapter 13. Retailing Flashcards
Retailing
Includes all the activities involved in selling products to final consumers.
Shopper Marketing
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale.
Omni-channel Retailing
Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
How can Retailers be classified?
Amount of service provided
Size and Types of Product Lines
Prices Charged
What is the difference between Self-service and Full-service Retailers?
Self-service retailers serve customers who are willing to perform their own locate-and-compare process.
Full-service retailers assist customers in every phase of the shopping process.
What the Major Store Retailer Types?
Specialty store (ex. REI)
Department store (ex. Macy’s)
Supermarket (ex. Kroger)
Convenience store (Ex. 7-Eleven)
Discount store (Ex. Walmart)
Off-price retailer (Ex. TJ Maxx)
Superstore (Ex. Walmart SuperCenter)
What is a Category Killer?
A giant specialty store that carries a very deep assortment of a particular line. (a type of superstore).
What is a Warehouse Club?
an off-price retailer that sells various products at deep discounts to members who pay annual fees.
What are the two types of Organizational Retailers?
Corporate Chains
Franchises
What three major product variables must Retailers make decisions about?
Product Assortment - differentiate while meeting consumer expectations.
Services Mix - set one retailer apart from another.
Atmosphere - create a unique store experience that moves a customer to buy.
What Price Decisions do Retailers face?
High markups on lower volume or low markups on higher volume
What five promotional tools do Retailers use in Promotion Decisions?
Advertising
Personal Selling
Sales Promotion
Public Relations
Direct and Digital marketing
Shopping Center
group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.
What are current Retail Trends and Developments?
Tighter consumer spending
New forms of retail, shortening life cycles
Mega-retailers
Showrooming (online, mobile, direct)
Blur between in-store and online
What must Retailers consider during times of economic difficulty?
They must be careful short-run actions don’t damage long-term images and positions (ex. “death by discount”)
