Marketing Ch 14

Front 1

Retailing

Back 1

an important part of many marketing channels, includes all the activities involved in selling products and services to the ultimate or final consumer.

Front 2

Retail Sales

Back 2

sales to final consumers. Total revenue must be 50% or more retail sales.

Front 3

wholesale sales

Back 3

those to other businesses that in turn resell the product or service or use it in running their own businesses.

Front 4

service retailers

Back 4

include dry cleaners, photo developers, shoe repari shops, banks fitness clubs, movie theatres, game arcades, rental businesses, tourist attractions, hotels restaurants, auto repair, some health care.

Front 5

category

Back 5

an assortment of items seen by the customer as reasonable substitutes for each other

Front 6

categroy killers

Back 6

discournt retailers that offer a complete assortment and thus dominate a category from the customers perspective.

Front 7

atmospherics

Back 7

tha retailers comination of architecture, layout color schem, sound and temp, special events, prices, displays and other factors that attract and stimulate consumers.

Front 8

independant retailers

Back 8

own and operate only one retail outlet. 3/4 of all retail establishments

Front 9

retail chain

Back 9

owns and operates multiple retail outlets.

Front 10

retail franchising

Back 10

a form of chain ownership in which a franchisee pays the franchisor (parent company) fees or royalties and agrees to run the franchise by prescribed norms in exchange for use of the franchisors name.

Front 11

leased departments

Back 11

sections in a retail stoer that the owner rents to a second party

Front 12

retail cooperatives

Back 12

when independent retailers band together, adopts a common name and storefront.

Front 13

hypermarket

Back 13

a format which combines a discount store with an oversized supermarket.

Front 14

nonstore retialing

Back 14

sales outside a physical structure. offers consumers the convenience of selecting and purchasing merchandise according to their own schedules.

Front 15

direct retailing

Back 15

the partion of direct marketing in which ulitimate consumers not business customers do the buying.

Front 16

direct marketing

Back 16

the distribution of goods services, info, or promotional benefits to targeted consumers through interactive communication while tracking response sales interes or desires through a computer database.

Front 17

E-retailing

Back 17

retail sales over the internet

Front 18

portals

Back 18

virtual shopping malls used by retailers to generate more traffic for their individual store.

Front 19

direct selling

Back 19

involves the sale of a consumer product or service, person to person, away from a fixed retail locations

Front 20

intratype competition

Back 20

describes competition among retailers that use the same type of business format.

Front 21

intertype competition

Back 21

prevails among retailers using different types of business to sell the same products and services.

Front 22

seasonality

Back 22

refers to demand fluctuations related to the time of the year, which may be moderated or exacerbated by unpredictable changes in weather and in consumer preferences.

Front 23

CBD central business districts

Back 23

commonly known as downtown areas, remain an importatn part ofthe retail scene in the US and many major cities around the world.

Front 24

strip centers

Back 24

feature parking in forn of all sotres and are not enclosed under one roof.

Front 25

shopping malls

Back 25

are designed for pedestrian flow under an enclosed roof.

Front 26

freestanding sites

Back 26

not adjoined to toher retail structure but are often located adjacent o other retail locations.

Front 27

scrambled merchandising

Back 27

practice of adding unrelated product categories to existing product lines.

Front 28

everyday low pricing EDLP

Back 28

strategy used by many retailers, pioneered by walmart

Front 29

store image

Back 29

the picture shoppers conjure up of a stores identity

Front 30

strategy mix

Back 30

how retailers differentiate themselves from one another. Elements are the controllable variables. location products and services, pricing and marketing communications.

Front 31

anchor position

Back 31

strategically placed stores at different ends of shopping cluster.

Front 32

interceptor locations

Back 32

b/w resisdential areas and the closest supermarket. (convenience stores)

Front 33

gross margin

Back 33

sales revenue less the retailers cost of goods sold

Front 34

inventory turnover

Back 34

how quickly merchandise is sold, the number of times the retailer sells it average inventory during the year.

Front 35

slotting allowances

Back 35

fees manufacturers pay to retailers or wholesalers to obtain shelf or warehouse space for their products.