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