14 Boone & Kurtz Contemporary Marketing

Front 1

broker

Back 1

Agent wholesaling intermediary who does not take title to or possession of goods in the course of its primary function, which is to bring together buyers and sellers.

Front 2

direct marketing

Back 2

Direct communications, other than personal sales contacts, between buyer and seller, designed to generate sales, information requests, or store or Web site visits.

Front 3

manufacturers’ representative

Back 3

Agent wholesaling intermediary who represents manufacturers of related but noncompeting products and who receives a commission on each sale.

Front 4

markdown

Back 4

Amount by which a retailer reduces the original selling price of a product.

Front 5

markup

Back 5

Amount that a retailer adds to the cost of a product to determine its selling price.

Front 6

planned shopping center

Back 6

Group of retail stores planned, coordinated, and marketed as a unit.

Front 7

retail convergence

Back 7

A situation in which similar merchandise is available from multiple retail outlets, resulting in the blurring of distinctions between type of retailer and merchandise offered.

Front 8

retailing

Back 8

Activities involved in selling merchandise to ultimate consumers.

Front 9

scrambled merchandising

Back 9

Retailing practice of combining dissimilar product lines to boost sales volume.

Front 10

stockkeeping unit (SKU)

Back 10

Offering within a product line such as a specific size of liquid detergent.

Front 11

wheel of retailing

Back 11

Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services.

Front 12

wholesaler

Back 12

Channel intermediary that takes title to goods it handles and then distributes these goods to retailers, other distributors, or B2B customers.

Front 13

wholesaling intermediary

Back 13

Comprehensive term that describes wholesalers as well as agents and brokers.