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55 Cards in this Set
- Front
- Back
outside the US, large retailers include Daiei in _____, Carrefour in ______, _____ _____ in germany, and ______ in Britain
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Japan, France, Metro Group, Tesco
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what are the three different ways to classify retail outlets
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1. form of service (individuals, chains, or contractual systems) 2. level of service (self, limited, and full) 3. merchanidise line
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one of the most common froms of retail ownership is the independent retailer owned by an ______. more than ____% of all retailers have four or less employees
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individual, 50
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stores such as wal mart and target are implementing pioneering new technolggies such as _____ _____ ______ _____ (RFID) tags to improve quality of info available about products
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radio frequency identification
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corporate chains have advatages in dealing with _______, particularly as size grows. they can obtain good service of ______ discounts on orders
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manufacturers, volume
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________ systems involve independently owned stores that band together to act like a chain.
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contractual
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waht are the three kinds of contractual systems?
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1. retailer-sponsored, 2. wholesaler-sponsored voluntary chains, and 3. franchises
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in ____-format franshising, the frandshisor provides step by step procedures for omst aspects of buisiness and guidelines (mcdonalds, radioshack)
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business
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waht are the two types of franchises? provide one example of each
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1. business-format (mcdonalds, subway, radioshack) and 2. product-distribution (ford dealership or coke distributor)
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differences among retailers are more obvious in terms of L____ o_ S_____
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level of service
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give an example of a self-service retailer
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costco, gas station
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give a brief def of limited service retailer and an example
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customers are responsible for most shopping activities, although salespeople are available in dept; kmart, target, walmart
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def full service retailer and give an example
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includes most specialty stores and dept stores, provide many services to customres (credit, financine, gift wrapping, etc); nordstrom, neiman marcus, saks fifth ave
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waht are the two types of merchandise lines?
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depth of line, breadth of line
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stores that carry a considersable assrothment (depth) of a related line of producuts are called ____-___ stores
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limited line
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give an example of a self-service retailer
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costco, gas station
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give a brief def of limited service retailer and an example
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customers are responsible for most shopping activities, although salespeople are available in dept; kmart, target, walmart
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def full service retailer and give an example
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includes most specialty stores and dept stores, provide many services to customres (credit, financine, gift wrapping, etc); nordstrom, neiman marcus, saks fifth ave
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waht are the two types of merchandise lines?
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depth of line, breadth of line
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stores that carry a considersable assrothment (depth) of a related line of producuts are called ____-___ stores
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limited line
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limited and single line stores are often referred to as ________ outlets
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specialty
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stores that carry tremendous depth in one primary line of merch are _____-___ stores
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single line
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stores that carry a broad product line, with limited depth are referred to as ________ ______ stores (macys, dillards)
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general merchandise
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def scrambled merchandising
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offfering several unrealted prduct lines in a single store (drugstores)
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what are the six forms of nonstore retailing?
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1. automatic vending
2. direct mail and catalogs 3. TV home shopping 4. online shopping 5. telemarketing 6. direct selling |
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direct mail focuses on ______ customers rather than ________ customers to save money and be more green
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proven, prospective
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compared with direct mail, _________ is viewed as a more efficient means of targeting consumers
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telemarketing
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give some examples of retailers who participate in direct selling
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mary kay, avon, fuller brush
(direct sales through personal interactions, and demonstrations in home or office) |
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the numbr of companies using direct selling has increase by ___% in the past 5 years
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30
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define the retailing mix (PLCM)
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activities related to managing the store and the merchandising in the store, which includes retail pricing, store location, retail communication, and merchadise
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the original markup is the difference between the ______ cost and the initial ______ price
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retailer, selling
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the difference between the final selling price and retailer cost is the _______ markup, which is also called the ______ margin
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maintained, gross
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walmart an dhome depot consistensly offere ow prices and emlinate most markdowns with a strategy called ________ ______ ______
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everyday low pricing
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retailers decided on the original markup, but by the time the product is sold, they end up with a __________ markup
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maintained
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E____ F___ P_____ is advoated by reatilers that may not offere ht lowest price, but try to create value for customers thorugh ssercive and the total buying experience
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everyday fair pricing
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most stores today are near several others in one of these four settings...
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1. central business district
2. regional center 3. strip mall 4. power center |
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which store setting typically consists of 50-150 stores that typically attract cusotmers who live or work withing a 5 to 10 mile range and have 2 or 3 anchor stores (west edmonton mall in canada)
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regional shopping centersf
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which store setting is a huge shopping strip with multiple anchor (2-5) stores. they often contain a super market, which brings the shopper on a weekly basis
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power center
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def strip mall
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crappy string of unplanned stores (elk river crossing), grocery, laundry, pharmacy, hardware, etc
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def category mangement
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an approcach to managin the assortment of merchandise that maximizes sales and profits (a category manager might be responsibel for shoes in a dept store or paper products in a grocery store
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waht is CMAR?
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consumer marketing at retail (research used to id shopper problems, creating marketing mix solutions, executing programs, and montiroing performance of merch)
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waht are the three categories of marketing metrics that can be used to asses hte affetiveness of a store?
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cusotmer (# of customers in store), product (number of returns, inv turnover), and financial (gross margin, sales per employee)
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def the wheel of retailing
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descibes how new forms of retail outlets enter hte market
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def the retail life cycle and list each of its stages
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process of growth and decline that retail outlets experience over time (early growth, accelerated development, maturity, decline) pg. 327
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def merchant wholesalers
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independently owned firms that take title to the merchandise they handle
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def general merchandise wholesalers (full-line)
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broad assortment of merch and perform all channel fucntion; most prevalent in hardware, drug and clothing industries; don't maintain much depth
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def specialty merchandise wholesalers (limited line)
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narrow range of products, extensive assortment within product lines carried; perform all channel fucntions; health foods, auto parts, seafood
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def rack jobbers (limited service)
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furnish racks or shelves that display merch in retail stores ;(hosiery, toys, housewares, and health/beauty items)
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def cash and carry wholesales (limited service)
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sell to buyers who call on them, pay cash for merch and furnish thier own trans for merch; do not make deliveries, extend credit, or supply market info; electric supplies, office supplies, prudcts, groceries
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def drop shippers ( or desk jobbers)
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wholesalers taht own merch they sell but do not handle stock or deliver; they just solicit orders; used for bulky products like coal, lumber, chemicals
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def truck jobbers
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small wholesalers; have limited assortments of fast-moving or perishable items aht are sold for cash directly from trucks; bakery items, dairy, meat
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def manufacturers agents
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agenst who work for several producers and carry noncompetitive, completmentary merch in an exclusice territory
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def selling agents
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represent single producer; responsible for entire marketing function of that producer; textile, apparel, food, and home furnishing indsustries
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what are ... independent firms of individuals whose main funciton is to bring buyers and sellers together to make sales (used with seasonal products and in real estate)
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brokers
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waht is the difference between a manufacutures branch office, and a manufacutures sales office
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branch carries inventory and performs sales (full service), sales just performs sales (alternative to agents and brokers)
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