chapter 15 Retailing Flashcards
Retailing provides value to consumers in the form of (3) with significant impact on the economy.
benefits, services and utilities
____ is the largest retailer in the world
Walmart
there is a need for examining retailing institutions from different perspectives (3)
- form of ownership
- level of service
- merchandise line
3 types of ownership
Independent retailer, Corporate Chains or Contractual Systems.
levels of service
Self-service, limited-service, and full- service retailers
Merchandise line
How may different lines of products and the extent of assortment in each line that a store carries.
independent retailer
owned by individuals and provide a high level of personal service
Corporate Chains
involve multiple outlets under common ownership.
Centralization of decision making and purchasing is common in these institutions
the bay, Best Buy
Contractual System
involves independently owned stores that join together to act like a chain
what is franchise
A business firm (Franchisor) authorizes an individual or business (Franchises) through a contract to set up a business or retail outlet
Centralized decision making and purchasing are an advantage of __________________ ownership
corporate chain
What are some examples of new forms of self-service retailers?
include airlines’ use of self-service kiosks to check in and print boarding passes. Home building supply operations also use this approach.
Would a shop for big men’s clothes carrying pants in sizes 40 to 60 have a broad or deep product line?
yes.
They carry a considerable assortment (or depth) of a related line of items.
Non-store retailing occurs through (3)
direct marketing, direct selling, and automatic vending.
benefits of direct selling
It eliminates the cost of store and clerk;
It improves marketing efficiency;
Serve the particular need of each segment well
example of direct marketing
television home shopping, online retailing, telemarketing
what is direct selling
individual sale persons directly sell to customers out of a retailing environment. Such as door-to-door selling
difference between direct marketing and direct selling
individual salespeople reach out to consumers directly, whereas direct marketing is when a company markets directly to the consumer.
Successful catalogue retailers often send ________ catalogues to _____ markets identified in their databases.
specialty
niche
How are retailers increasing consumer interest and involvement in online retailing?
(1) Pay dues to become a member of an online discount service, (2) Use a shopping “bot”, (3) Go directly to online malls or online shopping directories, or (4) Go to a specific online retailer’s individual site.
Where are direct selling retail sales growing?
where door-to-door convenience is important and personalized service is needed
A retail store’s position is influenced by (3)
ownership, level of service, and merchandise lines
Keys to Positioning a store is to give it _____
an identity with a competitive advantage.
what is Maintained markup
is the difference between the final selling price and retailer cost; also called gross margin.
