Basic Marketing Ch. 13 Key Terms

Front 1

Retailing

Back 1

Covers all the activities involved in the sale of products to final consumers

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General Stores

Back 2

carry anything they could sell in reasonable volume

Front 3

Single-line or Limited-line stores

Back 3

stores that specialize in certain lines of related products rather than a wide assortment

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Specialty Shop

Back 4

a type of conventional limited-line store- is usually small and has a distinct personality

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Department Stores

Back 5

Larger stores that are organized into many separate departments and offer many product lines

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Mass-merchandising concept

Back 6

says that retailers should offer low prices to get faster turnover and greater sales volumes by appealing to larger markets

Front 7

Supermarkets

Back 7

large stores that specialize in groceries with self service and wide assortments

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Discount Houses

Back 8

offered "hard goods" (cameras, TVs, and appliances) at substantial price cuts to customers who would go to the discounter's low rent store, pay cash, and take care of any service or repair problems themselves

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Mass-merchandisers

Back 9

large self service stores with many departments that emphasize soft goods (clothing) and staples (health and beauty) but still follow the discount houses emphasis on lower margins to get faster turnover

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Supercenters (hypermarkets)

Back 10

very large stores that try to carry not only food and drug items but all goods and services that the consumer purchases routinely

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Convenience (food) stores

Back 11

a convenience oriented variation of the conventional limited line food stores

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Automatic vending

Back 12

selling and delivering products through vending machines

Front 13

door to door selling

Back 13

a salesperson going directly to the consumers home

Front 14

wheel of retailing theory

Back 14

new types of retailers enter the market as low-status, low margin, low price operators and then if successful, evolve into more conventional retailers offering more services with higher costs and prices

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scrambled merchandising

Back 15

carrying any product lines they think they can sell profitably

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corporate chain

Back 16

a firm that owns and manages more than one store

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cooperative chains

Back 17

retailer sponsored groups- formed by independent retailers- that run their own buying organizations and conduct joint promotion efforts

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Voluntary chains

Back 18

wholesaler sponsored groups that work with "independent" retailers

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franchise operation

Back 19

the franchisor develops a good marketing strategy, and the retail franchise holders carry out the strategy in their own units

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wholesaling

Back 20

concerned with the activities of those persons or establishments that sell to retailers and other merchants, or to institutional, industrial, and commercial users, but do not sell in large amounts to final users

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wholesalers

Back 21

firms whose main function is providing wholesaling activities

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manufacturers' sales branches

Back 22

warehouses that producers set up at separate locations away from their factories

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merchant wholesalers
can be service or limited-function

Back 23

own the products they sell

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service wholesalers
General
Single line or general line
specialty

Back 24

merchant wholesalers that provide all the wholesaling functions

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General merchandise wholesalers

Back 25

service wholesalers that carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, drugs, cosmetics, and automobile equipment

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Single-line or General-line wholesalers

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service wholesalers that carry a narrower line of merchandise than general merchandise wholesalers

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Specialty wholesalers

Back 27

service wholesalers that carry a very narrow range of products and offer more information and service than other service wholesalers

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Limited-function wholesalers
cash and carry wholesalers
drop shippers
truck wholesalers
rack jobbers
catalog wholesalers

Back 28

provide only some of the wholesaling functions

Front 29

cash and carry wholesalers

Back 29

operate like service wholesalers- except that the customer must pay cash

Front 30

drop shippers

Back 30

own the products they sell- but they do not actually handle, stock, or deliver them

Front 31

truck wholesalers

Back 31

specialize in delivering products that they stock in their own trucks

Front 32

rack jobbers

Back 32

specialize in hard to handle assortments of products that a retailer doesnt want to manage- and they usually display the products on their own wire racks

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catalog wholesalers

Back 33

sell out of catalogs that may be distributed widely to smaller industrial customers or retailers that might not be called on by other wholesalers

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agent wholesalers

Back 34

wholesalers who do not own the products they sell

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manufacturers' agent

Back 35

sells similar products for several noncompeting producers- for a commission on what is actually sold

Front 36

export or import agents

Back 36

basically manufacturers' agents who specialize in international trade

Front 37

brokers

Back 37

bring buyers and sellers together

Front 38

export and import brokers

Back 38

operate like other brokers, but they specialize in bringing together buyers and sellers from different countries

Front 39

selling agents

Back 39

take over the whole marketing job of producers, not just the selling function

Front 40

combination export manager

Back 40

a blend of manufacturers' agents and selling agent- handling the entire export function for several producers of similar but noncompeting lines

Front 41

Auction companies

Back 41

provide a place where buyers and sellers can come together and bid to complete a transaction