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23 Cards in this Set

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  • Back
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Speciality Store
A retail store that carries a narrow product line with a deep assortment within that line.
Department Store
A retail organization that carries a wide variety of product lines-- typically clothing, home furnishings, and house-hold goods; each line is operated as a seperate department managed by specialist buyers or merchandisers.
Supermarket
Large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of food, laundry, and household products.
Supermarket
Large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of food, laundry, and household products.
Supermarket
Large, low cost, low margin, high volume, self service store that carries a wide variety of food, laundry, and household products.
Convenience store
A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.
Superstore
A store much larger than a regular supermarket that carries a large assortment of routinely purchased food and nonfood items and offers ervices such as dry cleaning, post offices, photo finishing, check cashing, bill paying, lunch counters, car care, and pet care.
Category killer
Giant speciality store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees.
Discount Store
A retail institution that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume.
Off-price retailer
Retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs.
Independent off-price retailer
Off-price retailer that is either owned and run by entrepreneurs or is a division of a larger retail corporation.
Factory outlet
Off-price retailing operation that is owned and operated by a manufacturer and that normally carries that manufacturer's surplus, discontinued, or irregular goods.
factory outlet malls
Warehouse Club
Off-price retailer that sells a limited selection of brandname grocery items, appliances, clothing, and a hodge-podge of other goods at deep discounts to members who pay annual membership fees.
Chain stores
Two or more outlets that are owned and controlled in common, have central buying and merchandising, and sell similar lines of merchandise.
Franchise
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 franchise system.
Shopping center
A group of retail businesses planned, developed, owned, and managed as a unit.
Wheel-of-retailing concept
A concept of retailing that states that new types of retailers 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.
Wholesaling
All activities involved in selling goods and services to those buying for reale or business use.
Wholesaler
A firm engaged primarily in wholesaling activity.
Merchant Wholesaler
Independently owned business that takes title to the merchandise it handles.
Broker
A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation.
Agent
A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods.
Manufacturer's sales branches and offices
Wholesaling by sellers or buyers themselves rather than through independent wholesalers.