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13 Cards in this Set

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Retailing
includes all activities involved in selling, renting, and providing goods and services to ultimate consumers of personal , family, or household use.
Three forms of ownership
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.
breadth of product line
refers to the variety of different items a store carries such as appliances and CDs.
depth of a product line
the store carries a large assortment of each item, such as shoe store that offers running shoes, dress shoes, and children's shoes.
scrambled merchandising
offering several unrelated product lines in a single store
intertype competition
competition between very dissimilar types of retail outlets
retail positioning matrix
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.
elements of retailing mix
retail pricing
store locations
retail comunication
merchandise
markup
how much should be added to the cost the retailer paid for a product to reach the final selling price
gross margin
the difference between final selling price and the retailer cost
markdown
discounting a product when the product does not sell at the original price and an adjustment is necessary
types of locations
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
wheel of retailing
describes how new forms of retail outlets enter the market.