Fundamentals Of Retailing Ch 1-6

Front 1

the business activities involved in selling goods and services to consumers for their personal, family, or household use

Back 1

retailing

Front 2

all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer

Back 2

channel of distribution

Front 3

when retailers collect an assortment from various sources, buy in a large quantity, and sell in small amounts

Back 3

sorting process

Front 4

a retailer sells to consumers through multiple retail formats

Back 4

multichannel retailing

Front 5

suppliers make agreements with one or a few retailers that designate the latter as the only ones in specified geographic areas to carry certain brands or products

Back 5

exclusive distribution

Front 6

Suppliers sell through as many retailers as possible

Back 6

intensive distribution

Front 7

suppliers sell through a moderate number of retailers

Back 7

selective distribution

Front 8

the overall plan guiding a retail firm

Back 8

retail strategy

Front 9

1.customer orientation
2. coordinated effort
3.Value driven
4. Goal orientation

Back 9

retailing concept

Front 10

all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer

Back 10

total retail experience

Front 11

the identifiable, but sometimes intangible, activities that are undertaken by a retailer in conjunction with the basic goods and services it sells

Back 11

customer service

Front 12

when retailers seek to establish and maintain long term bonds with customers rather than act as if each sales transaction is a completely new customer

Back 12

relationship retailing

Front 13

the series of activities and processes - a value chain - that provides a certain value for the consumer.

Back 13

value (for the retailer)

Front 14

the perception that the shopper has of a value chain

Back 14

value (customer)

Front 15

the total bundle of benefits offered to consumers through a channel of distribution

Back 15

value chain

Front 16

a retailers best customers whose relationships should be nurtured

Back 16

core customers

Front 17

the service level that customers want to receive from any retailer, such as basic employee courtesy

Back 17

expected customer service

Front 18

the activities that enhance the shopping experience and give retailers a competitive edge

Back 18

augmented customer service

Front 19

workers have the discretion to do what they believe is necessary - within reason - to satisfy the customer, even if it means bending the rules

Back 19

employee empowerment

Front 20

customer charges items and is billed monthly on the basis of the outstanding cumulative balance

Back 20

revolving credit account

Front 21

a form of revolving account where no interest is assessed if a person pay a bill in bill when it is due

Back 21

option credit accont

Front 22

a customer must pay the bill in full when it is due

Back 22

open credit account

Front 23

the value and customer service provided through a retailing experience meet or exceed customer expectations

Back 23

customer satisfaction

Front 24

rewards retailers best customers, those with whom it wants long-lasting relationships

Back 24

consumer loyalty programs

Front 25

comprises all the parties that develop, produce, deliver, and sell, and service

Back 25

value delivery system

Front 26

focuses on the sale of tangible products

Back 26

goods retailing

Front 27

transactions in which consumers do not purchase or acquire ownership of tangible products

Back 27

service retailing

Front 28

consumers lease and use goods for specified period of time

Back 28

rented-goods services

Front 29

goods owned by consumers are repaired, improved, and maintained

Back 29

owned goods services

Front 30

intangible personal services are offered to consumers who then experience the services rather than possess them

Back 30

nongoods services

Front 31

involves both the use of automatic teller machines and the instant processing of retail purchases

Back 31

electronic banking

Front 32

the activities of government, business, and other organizations to protect people from practices infringing upon their rights as consumers

Back 32

consumerism

Front 33

a law that mandates that persons with with disibilities be given appropriate access to retailing facilities

Back 33

ADA

Front 34

the overall plan or framework of action that guides a retailer

Back 34

retail strategy

Front 35

a candid evaluation of the opportunities and threats facing a prospective or existing retailer

Back 35

situation analysis

Front 36

marketplace openings that exist because other retailers that have not yet capitalized on them

Back 36

opportunities

Front 37

environmental and marketplace factors that can adversely affects retailers if they do not react to them

Back 37

threats