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23 Cards in this Set
- Front
- Back
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all activities involved in selling goods or sesrvices directly to final consumers for their personal, nonbusiness use
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retailing
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a business whose sales come primarily from retailing
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retailer
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a retail store that carries a narrow product line with a deep assortment within that line
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specialty store
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a retail organization that carries a wide variety of product lines-each line is operated as a separate deartment managed by specialist buyers or merchandisers
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department store
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large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
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supermarket
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a small store, located near a residential area, that is open long hours seve days a week and carries a limited line of high-turnover convenience goods
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convenience store
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a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services
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superstore
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giant specialty store that carries very deep assortment of particular line and is stagged by knowledgeable employees
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category killer
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a retail operation that sells standard merchanise at lower prices by accepting lower margins and selling at higher volume
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discount store
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retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs
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off-price retailer
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off-price retailer that is either owned and run by entrepreneurs or is a division of a larger retail corporation
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independent off-price retailer
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off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods
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factory outlet
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off-price retailer that sells a lmited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees
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warehouse club
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two or more oytlets that are ocmmonly owned and controlled
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chain stores
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a contractual association between a manufacturer, wholesaler, or service organization (a franchiser) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franshise system
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franchise
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a group of retail businesses planned, developed, owned, and manged as a unit
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shopping center
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a concept of retailing that states that new types of reailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced, higher-service operations, eventually becoming like the conventional retailers they replaced
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wheel-of-retailing concept
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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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a firm engaged primarily in wholesaling activities
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wholesaler
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independently owned business that takes title to the merchandise it handles
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merchant wholesaler
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a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
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broker
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a wholesaler who represens buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods
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agent
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wholesaling by sellers or buyers themselves rather than through independent wholesalers
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manufacturers' sales branches and offices
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