Retailing Flashcards
independent retailers
retailers owned by a single person or partnership and not operated as a part of a larger retail institution
local florists, shoe repair, ethnic food markets
chain stores
owned and operated as a group by a single organization
Gap or Starbucks
franchises
owned and operated by individuals but licensed by a larger supporting organization
Krispy Kreme, McDonald’s, Dunkin Donuts
retailing
the process by which goods and services are sold to customers for their personal use
value is added or subtracted from the offering with image, inventory, service quality, location, and pricing policy
Retailers belong to a _____, providing time, place, and ownership utility of customers
channel of distribution
Retail stores can be classified by
level of service, what they sell, and merchandise selection
Difficulties in retailing
shoplifting, employee theft, retail borrowing
Issues in customer dealings
discouraging certain types of customers from shopping
selling harmful products to at risk groups
self-service retailers
shoppers make selections without any help
Factory Outlets
limited-service retailers
may offer credit service and merchandise return services but little else
the majority of shopper selection is done without assistance
Target
full-service retailers
offer supporting services such as gift wrapping, trained sales associates assist buyers\
Exclusive clothing stores offer: credit, alterations, delivery, consulting, liberal return policies, gift-wrapping, personal shopping
merchandise mix
total set of products offered for sale by a retailer, including all product lines sold to all consumer groups
like food stores
merchandise breadth
number of different product lines
merchandise depth
choices available in each product line
An airport bookstore has _____ breadth and ____ depth
for just the LOTR books
narrow, shallow
Sam’s Club has _____ breadth and ____ depth
Selling LOTR, a few books and limited assortment of tshirts and toys
broad, shallow
www.legendaryheroes.com only sells on the internet and only sells merchandise for specific series/books/movies like Hercules, LOTR, Conan, The Highlander, etc.
______ breadth and ______ depth
narrow, deep
Amazon sells millions of books and a long list of other product lines including electronics, toys, apparel, motorcycles, etc.
____breadth and ____ depth
broad, deep
non-store retailing
any method used to make an exchange with a product end user that does not require a customer visit to a store
direct selling
an interactive sales process in which a salesperson presents a product to one individual or a small group, takes orders and delivers merchandise
Forms of direct selling
door to door sales
party plan system (like Mary Kay)
automatic vending
convenience stores
have little depth and little depth, carry necessities but usually have few versions to choose from and low service
supermarkets
have some breadth and some depth, low to medium service
specialty stores
have limited breadth but significant depth, concentrated product assortment and carry one or few product lines but at a considerable depth, high service