Chapter 15 Flashcards
Retailing
All activities involved in selling, renting, and providing goods/services to ultimate consumers for personal family or household use
Form of ownership
Distinguishes retail outlets based on whether individuals corporate chains, or contractual systems own the outlet
level of service
The degree of service provided to the customer by self-limited- and full service retailer
Depth of product line
The store carries a large assortment of each item
Breadth of product line
The variety of different items a store carries
Scrambled merchandising
Offering several unrelated product lines in a single retail store
Hypermarket
A large store offering consumers everything in a single outlet (200 000sq)
intertype competition
Competition between very dissimilar types of retail outlets
telemarketing
Using the telephone to interact with and sell directly to consumers
Retail positioning matrix
Positions retail outlets on two dimensions : breadth of product line and value added
shrinkage
Breakage and theft of merchandise by customers and employee
off-price retailing
Selling brand name merchandise at lower than regular prices
central business district
the oldest retail setting, the community’s downtown area
regional shopping centre
Consists of 50 to 150 stores that typically attract customers who live within and 8 to 16 km often containing two or three anchor stores
community shopping centre
A retail location that typically has on primary store and 20 to 40 smaller outlets serving a population that lives within 20 min drive
strip location
A cluster of stores serving people who live within a 5 to 10 minute drive
power center
A huge shopping strip with multiple anchor stores a convenient location and a supermarket
off-mall retailing
occurs when retailers that traditionally locate in malls build on stand alone sites
lifestyle centre
An open-air cluster of specialty retailers along with theatres restaurant fountains play areas and green spaces
category management
An approach that assigns a manager with the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category
wheel of retailing
A concept that describes how new retail outlets enter the market as low-status , low margin stores, and gradually add embellishments that raise their prices and status. They now face a new low-status low margin operator, and the cycle starts to repeat itself
retail lifecycle
The process of growth and decline tha retail outlets, like products experience
retail lifecycle
The process of growth and decline that retail outlets, like products experience
