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24 Cards in this Set
- Front
- Back
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All activities involved in selling goods or services directly to final consumers for their personal, non business use.
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Retailing
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Business whose sales come primarily from retailing.
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Retailer
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All activities involved in selling goods and services to those buying for resale or business use.
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Wholesaling
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Firm engaged primarily in wholesaling activity.
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Wholesaler
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Types of retailers
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Specialty stores, department stores, supermarkets, superstores, discount stores, convenience stores, off price retailers.
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Retailers are classified by what 4 things?
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Amount of service, product lines, relative prices, organizational approach
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Customers are willing to self-serve to save money. Convenience stores and fast moving shopping goods.
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Self-service retailers
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Most department stores
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Limited service retailers
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Salespeople assist customers in every aspect of shopping experience. High end department stores and specialty stores.
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Full service retailers
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Amount of service
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Self-service retailers, limited service retailers, full service retailers
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Product lines
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Specialty stores, department stores, supermarkets, convenience stores, superstores, category killers
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Narrow product lines with deep assortments
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Specialty stores
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Wide variety of product lines
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Department stores
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Limited line
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Convenience stores
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Category killers
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Giant specialty stores
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Relative prices
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Discount stores, off price retailers
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Low margins are offset by high volume
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Discount stores
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Independent off price retailers, factory outlets, warehouse clubs
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Off-price retailers
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Organizational approach
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Corporate chain stores, retailer cooperative, franchise organizations
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Commonly owned/controlled
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Corporate chain stores
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Groups of independent retailers who buy in bulk
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Retailer cooperatives
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Based on something unique
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Franchise organizations
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Selling and promoting, buying and assortment building, bulk-breaking, warehousing, transportation, financing, risk bearing, marketing information, management services and advice
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Wholesaler functions
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New retail forms and shortening retail life cycles, growth of non store retailing (mail order, television, phone, online shopping), merging of consumers, products, prices and retailers, rise of mega retailers, growing importance of retail technology, global expansion of major retailers, stores as "hangouts"
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Future of retailing
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