Retailing Flashcards
Backward integration
Buying assets (like a farm to grow coffee beans for a coffee shop), focuses on quality control and cost control
Forward integration
Closer relationship to customer, focus on market access and quality customer service
Breaking bulk
Receiving items in bulk and breaking them into smaller items to sell them as needed. E.g. for single-households, they need smaller amounts of items
CSR
Corporate social responsibility. A responsibility to do things for the public good, without the expectation of something in return
Cause-Related Marketing
Focuses on the marketing of something in order to give back to the public. E.g. one for one marketing “we’ll give this to the less fortunate if you buy our product”
Ethics (CSR)
Issues such as child labour, counterfeit, fairtrade
Intertype competition
Between different markets but with similar value
Intratype competition
Within the same market
Retailing
Creating value (relationship between retailer and final customer)
Retail mix
Location, merchandise, store layout
Scrambled merchandising
Offering merchandise that is not typically associated with the store
Vertical integration
Owning different levels of the production or distribution process
Holding inventory
holding inventory for future benefit - days such as chocolates for valentine’s day: creates variety and value for these days
