Retailing Flashcards

1
Q

independent retailers

A

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

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2
Q

chain stores

A

owned and operated as a group by a single organization

Gap or Starbucks

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3
Q

franchises

A

owned and operated by individuals but licensed by a larger supporting organization

Krispy Kreme, McDonald’s, Dunkin Donuts

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4
Q

retailing

A

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

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5
Q

Retailers belong to a _____, providing time, place, and ownership utility of customers

A

channel of distribution

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6
Q

Retail stores can be classified by

A

level of service, what they sell, and merchandise selection

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7
Q

Difficulties in retailing

A

shoplifting, employee theft, retail borrowing

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8
Q

Issues in customer dealings

A

discouraging certain types of customers from shopping

selling harmful products to at risk groups

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9
Q

self-service retailers

A

shoppers make selections without any help

Factory Outlets

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10
Q

limited-service retailers

A

may offer credit service and merchandise return services but little else
the majority of shopper selection is done without assistance

Target

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11
Q

full-service retailers

A

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

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12
Q

merchandise mix

A

total set of products offered for sale by a retailer, including all product lines sold to all consumer groups

like food stores

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13
Q

merchandise breadth

A

number of different product lines

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14
Q

merchandise depth

A

choices available in each product line

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15
Q

An airport bookstore has _____ breadth and ____ depth

for just the LOTR books

A

narrow, shallow

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16
Q

Sam’s Club has _____ breadth and ____ depth

Selling LOTR, a few books and limited assortment of tshirts and toys

A

broad, shallow

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17
Q

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

A

narrow, deep

18
Q

Amazon sells millions of books and a long list of other product lines including electronics, toys, apparel, motorcycles, etc.

____breadth and ____ depth

A

broad, deep

19
Q

non-store retailing

A

any method used to make an exchange with a product end user that does not require a customer visit to a store

20
Q

direct selling

A

an interactive sales process in which a salesperson presents a product to one individual or a small group, takes orders and delivers merchandise

21
Q

Forms of direct selling

A

door to door sales
party plan system (like Mary Kay)
automatic vending

22
Q

convenience stores

A

have little depth and little depth, carry necessities but usually have few versions to choose from and low service

23
Q

supermarkets

A

have some breadth and some depth, low to medium service

24
Q

specialty stores

A

have limited breadth but significant depth, concentrated product assortment and carry one or few product lines but at a considerable depth, high service

25
discount stores
general discount stores, warehouse clubs, factory outlet stores
26
department stores
have some breadth and some depth, medium to high service
27
hypermarkets
combine warehouse and supermarket characteristics less popular in the US Carrefours?
28
store image
the way a retailer is perceived in the marketplace relative to the competition
29
atmospherics
the use of color, lighting, scents, furnishings, sounds and other design elements to create a desired store image
30
Music in a store can
control the pace of store traffic, create an image, and attract or direct consumers' attention
31
Lighting can
highlight merchandise, structure space and capture a mood, energy efficient lighting, downplay features
32
Scent
neutral scents produce more favorable perceptions of the store than no scent, and customers in scented stores report feeling as if they spent less time shopping than customers in unscented stores
33
Color
warm colors produce emotional, vibrant, hot, and active responses cool colors have a peaceful, calming effect colors are culturally bounded
34
store layout
arrangement of merchandise in the store that determines traffic flow
35
grid layout
easy to locate merch does not encourage customers to explore store allows more merch to be displayed cost efficient used in grocery, discount, and drugstores
36
free form layout
fixtures and aisles arranged asymmetrically provides an intimate, relaxing environment that facilitates shopping and browsing pleasant relaxing ambiance inefficient use of space susceptible to shoplifting used in specialty stores and upscale department stores
37
racetrack layout
loop with a major aisle that has access to departments draws customers around the store provide different viewing angles and encourage exploration used in department stores like JC Penney
38
Store personnel should complement a store's image through
dress, attitude, and knowledge
39
price points
price ranges of a store's merchandise can play a role in establishing store image
40
Site selection takes into effect ____ or ____, which accounts for a majority of its sales and customers
the store's trade area or geographic zone
41
Types of stores
department store, specialty store, supermarket, convenience store, drugstore, full-line discounter, specialty discounter, warehouse clubs, restaurant Vary depending on the degree to which they provide service to you. Specialty store has high level of service on one particular product category (e.g., electronics) down to warehouse club which sells a variety of product categories with very little service/sales support in-store.