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13 Cards in this Set

  • Front
  • Back
retailing
activities involved in selling merchandise to ultimate consumers
wheel of retailing
hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge, and maintains profits by reducing or eliminating services.
stockkeeping unit SKU
Specific offering within a product line such as a specific size of liquid detergent
markup
Amount that a retailer adds to the cost of a product to determine its selling price
markdown
amount by which a retailer reduces the original selling price of a product
planned shopping center
group of retail stores planned, coordinated, and marketed as a unit
retail convergence
the coming together of shoppers, goods, and prices, resulting in the blurring of distinctions between types of retailer and the merchandise mix they offer
scrambled merchandising
retailing practice of combining dissimilar product lines to boost sales volume
wholesaler
channel intermediary that takes title to goods it handles and then distributes these goods to retailers, other distributors, or B2B customers
Wholesaling intermediary
Comprehensive term that describes wholesalers as well as agents and brokers.
broker
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
manufacturer's agent
Agent wholesaling intermediary who represents a number of manufacturers of related but noncompeting products and who receives a commission on each sale.
direct marketing
distribution channel consisting of direct communication with a consumer or business user