Chapter 15 - Retailers, Wholesalers, and Direct Marketers Flashcards
1
Q
Retailing
A
- Activities involving in selling merchandise to ultimate consumers
2
Q
Wheel of Retailing
A
- Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge, the result of reducing or eliminating services
3
Q
Stock-keeping Unit
A
- Offering within a product line, such as a specific size of liquid detergent
4
Q
Markup
A
- Amount a retailer adds to the cost of a product to determine its selling price
5
Q
Markdown
A
- Amount by which a retailer reduces the original selling price of a product
6
Q
Planned Shopping Center
A
- Group of retail stores planned, coordinated, and marketed as a unit
7
Q
Atmospherics
A
- Combination of physical characteristics and amenities that contribute to a store’s image
8
Q
Convenience Retailers
A
- Store that appeals to customers by having an accessible location, long hours, rapid checkout, and adequate parking
9
Q
Specialty Retailers
A
- Store that combines carefully defined product lines, services, and reputation to persuade shoppers to spend considerable shopping effort there
10
Q
Limited-line Store
A
- Retailer that offers a large assortment within a single product line or within a few related product lines
11
Q
Category Killer
A
- Store offering huge selections and low prices in single product lines
12
Q
General Merchandise Retailers
A
- Store that carries a wide variety of product lines
13
Q
Department Store
A
- Large store that handles a variety of merchandise, including clothing, household goods, appliances, and furniture
14
Q
Mass Merchandiser
A
- Store that stocks a wider line of goods than a department store, usually without the same depth of assortment within each line
15
Q
Discount House
A
- Store that charges low prices but may not offer some services
16
Q
Hypermarkets
A
- Giant one-stop shopping facility offering wide selections of grocery items and general merchandise at discount prices, typically filling up 200,000 or more square feet of selling space
17
Q
Supercenters
A
- Large store, usually smaller than a hypermarket, that combines groceries with discount store merchandise
18
Q
Retail Convergence
A
- Situation in which similar merchandise is available from multiple retail outlets, resulting in the blurring of distinctions between types of retailers and merchandise offered
19
Q
Scrambled Merchandising
A
- Retailing practice of combining dissimilar product lines to boost sales volume
20
Q
Wholesalers
A
- Channel intermediary that takes title to goods it handles and then distributes those goods to retailers, other distributors, or B2B customers
21
Q
Wholesaling Intermediaries
A
- Comprehensive term that describes wholesalers as well as agents and brokers
22
Q
Merchant Wholesalers
A
- Independently owned wholesaling intermediary that takes title to the goods it handles; also known as an industrial distributor in the business goods market
23
Q
Rack Jobber
A
- Full-function merchant wholesaler that markets specialized lines of merchandise to retail stores
24
Q
Truck Wholesaler (or Truck Jobber)
A
- Limited-function merchant wholesaler that markets perishable food items
25
Q
Drop Shipper
A
- Limited-function merchant wholesaler that accepts orders from customers and forwards those orders to producers, which then ship directly to the buyers
26
Q
Mail-Order Wholesaler
A
- Limited-function merchant wholesaler that distributes catalogs instead of sending sales personnel to contact customers
27
Q
Commission Merchants
A
- Agent wholesaling intermediary that takes possession of goods shipped to a central market for sale, acts as the producer’s agent, and collects an agreed-upon fee at the time of the sale
28
Q
Brokers
A
- Agent wholesaling intermediary that does not take title to or possession of goods in the course of its primary function, which is to bring together buyers and sellers
29
Q
Selling Agent
A
- Agent wholesaling intermediary for the entire marketing program of a firm’s product line
30
Q
Manufacturers’ Representatives
A
- Agent wholesaling intermediary who represents manufacturers of related but noncompeting products and receives a commission on each sale
31
Q
Direct Marketing
A
- Direct communications, other than personal sales contacts, between buyer and seller, designed to generate sales, information requests, or store or website visits
