Chapter 16 Flashcards
Consists of all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use.
Retailing
Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
Former Ownership
Is the degree of service provided to the customer from three types of the retailers: Self-, limited-, and full-services
Level of Service
Describes how many different types of products a store carries and in what assortment.
Merchandise Line
Means that the store carriers a large assortment of each product line.
Depth of Product Line
Describes the variety of different product items a store carriers.
Breadth of Product Line
Consists of offering several unrelated product lines in a single store
Scrambled Merchandise
Form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers everything in a single outlet, eliminating the need for consumers to shop at more than one location.
Hypermarket
Consists of competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy.
Intertype Competition
Matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige.
Retail Positioning Matrix
Activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.
Retailing Mix
Consists of selling brand-name merchandise at lower than regular prices.
Off-Price Retailing
Oldest retail setting, usually located in the community downtown area.
Central Business Distinct
Retail locations that consists of 50 to 150 stores that typically attract customers who live or work within 5- to 10- mile range, often containing two or three anchor stores
Regional Shopping Centers
Retail location that typically has one primary store (usually a department store branch) are often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20- minute drive.
Community Shopping Centers
Retail location that consists of a cluster of neighborhood stores to serve people who are within 5- to 10- minute drive
Strip Mall
Retail location that consists of a huge shopping strip with multiple anchor (or national) stores.
Power Center
Use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store
Shopping Market
An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a marker segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category
Category Management
Concept that describes how new forms of retail outlets enter the market
Wheel of Retailing
Process of growth and decline that retail outlets, like products, experience, consisting of the early growth, accelerated development, maturity, and decline
Retail Life Cycle
Retailers that utilize and integrate a combination of traditional store formats and nonstories formats such as catalogs, television home shopping, and online retailing.
Multichannel Retailers
Independently owned firms that take title to the merchandise they handle.
Merchant Wholesalers
Agents who work for several producers and carry noncompetitive, complementary, merchandise in an exclusive territory. Also called manufacturers’ representatives.
Manufacturers Agents
Are independent firms or individuals whose principal function is to bring buyers and sellers together to make sales.
Brokers
Account 3.8 million stores in the United States
Independent Retailers
Multiple outlets under common ownership
Corporate Chain
Are independent stores work together to act as a chain (Franchise)
Contractual System
What is Example of a Full Service
Nordsterms
What is an Example of Direct Selling
Mary Kay, Tupperware, Must buy from sales Rep
Non-Store Retailing
Direct Selling
Telemarketing
Online Retailing
Television Home Shopping
Direct Mail and Catalogs
Automatic Vending
Examples of Off-Price Retailing
Warehouse Clubs
Outlet Stores
Unpredictable Selection
Single-price or extreme value retailers
