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31 Cards in this Set

  • Front
  • Back
includes all activities involved in selling, renting, and providing g/s to customers
form of ownership
distinguishes retail outlets based on whether indiv, corp chains, or contractual systems own the outlet
level of service
degree of service provided to customer
type of merchandise line
describes how many diff types of products a store carries and in what assortment
depth of product line
large assortment of each item carried
breadth of product line
store carries variety of diff items
scrambled merchandising
offering several unrelated items in a single store
large stores that offer everything; one sotp
typical merchandise store w/full size grocery (US)
intertype competition
competition btwm very dissimilar types of retail outlets
using phone to interact and sell directly to customers
retail positioning matrix
based upon: breadth of product line and value added (location, product reliability, prestige)
retailing mix
activities related to managing the store and the merchandise in the store; retail pricing, store location, retail comm, and merchandise
how much should be added to the cost the retailer paid for a product to reach the final selling price
original vs maintained markup
retailers decide on the original markup (diff btwm retailer cost and initial selling price). When products do not sell as quickly as anticipated, price is reduced. Gross margin/maintained markup is diff btwn final selling price and retailer cost
everyday low pricing
eliminates markdowns
everyday fair pricing
creat value through service and total buying experience
consumers use benchmark/signpost items to form overall impression of the store's prices
breakage and theft of merchandise by customers and employees
off-price retailing
selling brand name merchandise at lower then regular prices
excess inventory bought at full wholesale prices, but take less of a markup
warehouse club
membership fee; ultralow prices and suprise deals
outlet store
25-30% off prices; clear excess merchandise and reach value consumers
central business district
downtown area
less convenient, higher crime, exposure to weather
regional shopping centers
50-150 stores; attract those who live/work 5-10mi range
2-3 anchor stores
community shopping center
one primary store; 20-40 smaller outlets
strip location
5-10min drive
power center
huge shopping strip w/multiple ancor stores
category mgmt
assigns a manager w/the responsibility for selecting all products taht consumers in a market segment might view as substitutes for each other, with the objective of max sales and profits in the category
consumer marketing at retail (CMR)
retailers conduct research, analyze data to id shopper problems, translate into retail mix actions, execute shopper friendly programs, and monitor performance of merchandise
wheel of retailing
describes how new forms of retail outlets enter the market;
enter as low status, low margin stores.
gradually add fixtures and more embellishments
now has: higher prices, margins, status
add more
now has: still higher
new form of outlet enters retailing environment w/char of how outlet started
retail life cycle
Early growth: emergence of retail outlet
Accelerated development: market share and profit achieve their greatest growth rates; battle for market share
Maturity: new retail forms enter, stores try to maintain market share, price discounting occurs
Decline: market share and profit fall rapidly
multichannel retailers
utilize and integrate a combo of traditional store formats and nonstore formats