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13 Cards in this Set
- Front
- Back
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Retailing
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includes all activities involved in selling, renting, and providing goods and services to ultimate consumers of personal , family, or household use.
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Three forms of ownership
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1) individual-owned by an individual. be own boss
2) corporate- multiple outlets under common ownership. 3)contractual-independently owned stores that band together and act like a chain. |
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breadth of product line
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refers to the variety of different items a store carries such as appliances and CDs.
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depth of a product line
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the store carries a large assortment of each item, such as shoe store that offers running shoes, dress shoes, and children's shoes.
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scrambled merchandising
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offering several unrelated product lines in a single store
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intertype competition
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competition between very dissimilar types of retail outlets
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retail positioning matrix
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a matrix developed by the MAC group, INc a managment consulting form.
2 dim.>breadth of product line and value added. includes activities related to managing the store and the merchandise in the store. |
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elements of retailing mix
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retail pricing
store locations retail comunication merchandise |
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markup
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how much should be added to the cost the retailer paid for a product to reach the final selling price
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gross margin
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the difference between final selling price and the retailer cost
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markdown
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discounting a product when the product does not sell at the original price and an adjustment is necessary
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types of locations
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central business district-downtown area
regional shopping centers-50-150 stores attract within 5-10 mile range community shop center-one primary store(dept store) and often about 20-40 smaller outlets strip location-clusters of stores to serve people who are within a 5-10 minute drive |
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wheel of retailing
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describes how new forms of retail outlets enter the market.
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