Chapter 15 - Retailing Flashcards
Define: Retailing
all activities involved in reselling, renting, and providing goods and services to ultimate consumers for personal, family, or household use.
Define: form ownership
distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet.
define: level of service
the degree of service provided to the customer by self-, limited-, and full-survice retailers.
define: merchandise line
how many types of products a store carries and in what assortment
define: product depth
the store carries a large assortment of each item
define: product breadth
the variety of different items a store carries
define: scrambled merchandising
offering several unrelated product lines in a single retail store
define: hypermarket
a large store (more than 200,000 sq.ft.) offering consumers everything in a single outlet.
define: intertype competition
competition between very dissimilar types of retail outlets.
define: telemarketing
using telephone to contact consumers and sell directly to them
define: retail positioning matrix
positions retail outlets on two dimensions: breadth of product line and depth of product line
define: retailing mix
activities related to managing the store and the merchandise in the store, including retail pricing, store location, retail communication, and merchandise.
define: shrinkage
breakage and theft of merchandise by customers and employees.
define: off-price retailing
selling brand name merchandise for lower than regular cosr
central business district
the oldest retail setting, the communities down town area.
