Marketing Ch. 15

Front 1

Retailing

Back 1

all activities directly related to sale of goods and services to ultimate consumer for personal, nonbusiness use.

Front 2

Independent retailers

Back 2

retailers owned by single person or partnership and not operated as part of a larger retail institution.

Front 3

Chain stores

Back 3

stores owned and operated as a group by a single organization

Front 4

Franchise

Back 4

right to operate a business or to sell a product

Front 5

Gross margin

Back 5

amount of money retailer makes as a percentage of sales after the cost of goods sold is subtracted

Front 6

Department store

Back 6

store housing several departments under one roof

Front 7

Buyer

Back 7

department head who selects merchandise for his or her department and may also be responsible

Front 8

supermarket

Back 8

large departmental, self-service retailer that specializes in food and some nonfood items.

Front 9

scrambled merchandising

Back 9

tendency to offer a wide variety of nontraditional goods and services under one roof

Front 10

drugstore

Back 10

retail store that stocks pharmacy-related products and services as its main draw.

Front 11

convenience store

Back 11

miniature supermarket carrying only a limited line of high-turnover convenience goods.

Front 12

discount store

Back 12

retailer that completes on the basis of low prices, high turnovers, and high volume.

Front 13

full-line discount store

Back 13

retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded "hard goods".

Front 14

Mass merchandising

Back 14

retailing strategy using moderate to low prices on large quantities of merchandise and lower levels of service to stimulate high turnover of products.

Front 15

Supercenter

Back 15

retail store that combines groceries and general merchandise goods with a wide range of services.

Front 16

specialty discount store

Back 16

retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover.

Front 17

Category killers

Back 17

specialty discount stores that heavily dominate their narrow merchandise segment.

Front 18

warehouse membership clubs

Back 18

limited-service merchant wholesalers that sell a limited selection of brand name appliances, household items, and groceries on a cash-and-carry basis to members, usually small businesses and groups.

Front 19

off-price retailer

Back 19

retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its stock and usually doesn't ask for return privileges.

Front 20

factory outlet

Back 20

an off-price retailer that is owned and operated by a manufacturer.

Front 21

nonstore retailing

Back 21

shopping without visiting a store

Front 22

automatic vending

Back 22

use of machines to offer goods for sale

Front 23

direct retailing

Back 23

selling of products by representatives who work door-to-door, office-to-office, or at home sales parties.

Front 24

direct marketing (direct response marketing)

Back 24

techniques used to get consumers to make a purchase from their home, office, or other nonretail setting.

Front 25

telemarketing

Back 25

use of telephone to sell diectly to consumers

Front 26

online retailing

Back 26

type of shopping available to consumers with personal computers and access to the internet.

Front 27

franchisor

Back 27

originator of a trade name, product, methods of operation, and so on that grants operating rights to another party to sell its product.

Front 28

franchisee

Back 28

individual or business that is granted right to sell another party's product.

Front 29

retailing mix

Back 29

combination of six ps, product, place, promotion, price, presentation and personnel. To sell goods and services to the ultimate consumer.

Front 30

product offering

Back 30

mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix.

Front 31

Destination stores

Back 31

stores that consumers purposely plan to visit.

Front 32

Atmosphere

Back 32

overall impression conveyed by a store's physical layout, decor, and surroundings.