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26 Cards in this Set
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The variety of different items that a storecarries, such as appliances and books.
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Breadth of a Product Line |
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Independent firms or individuals whose principalfunction is to bring buyers and sellers together to make sales.
o Unlike agents, these usually have nocontinuous relationship with they buyer or seller but negotiate a contractbetween two parties and then move on to another task o Used extensively by producers of seasonalproducts and in the real estate industry |
Brokers |
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A popular approach to managing the assortment ofmerchandise.
- This approach assigns a manager theresponsibility for selecting all products that consumers in a market segmentmight view as substitutes for each other, with the objective of maximizingsales and profits in the category |
Category Management |
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· The oldest retail setting – The community’s downtown area |
Central Business District |
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· Shopping center that typically has 1 primarystore (usually a department store branch) and often about 20-40 smaller outlets
o A more limited approach to retail location o Generally serve consumers with a 10-20 minutecommute |
Community Shopping Center |
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The store carries a large or small assortment ofeach item, such as a shoe store that offers running shoes, dress shoes andchildren’s shoes
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Depth of a Product Line |
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Distinguishes retail outlets based on whetherindependent retailers, corporate chains, or contractual systems own the outlet
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Form of Ownership |
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A large store (often more than 200,000 squarefeet) that offer “everything under one roof”, thus eliminating the need to stopat more than one location
o Successful in Europe o These stores provide variety, quality, and lowprices for groceries and other general merchandise items o A form of scrambled merchandising |
Hypermarket |
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Competition between very dissimilar types ofretail outlets
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Intertype Competition |
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Used to describe the degree of service providedto the customer. Three levels of service are provided by self-, limited-, andfull-service retailers
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Level of Service |
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Agents that work for several producers and carrynoncompetitive, complementary merchandise in an exclusive territory.
o AKA manufacturer’s representatives o They act as a producer’s sales arm in a territory and are principally responsible for the transactional channelfunctions, primarily selling |
Manufacturer's Agents |
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Describes how many different types of products astore carries and in what assortment
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Merchandise Line |
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Independently owned firms that take title to themerchandise they handle, AKA industrial distributors.
o Most firms engaged in wholesaling activities aremerchant wholesalers |
Merchant Wholesalers |
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When retailers combine and use many retailingformats to offer a broader spectrum of benefits and experiences and to appealto different segments of consumers
- Utilize and integrate a combination of traditional store formats and non-store formats (catalogs, TV, home shopping and online retailing |
Multichannel Retailers |
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Selling brand-name merchandise at lower thanregular prices. the merchandise is bought by the retailer frommanufacturers with excess inventory at prices below wholesale prices.
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Off-Price Retailing |
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Variation of the strip mall
o A huge shopping strip with multiple anchor storessuch as Home Depot, Best Buy, etc. o Combines the convenience of location provided bystrip malls with the power of national stores |
Power Center |
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Costs of 50-150 stores that typically attractcustomers who live or work within a 5-10 mile range
o These large shopping areas often contain 2or 3 anchor stores, which are well known national or regional stores such asSears, Macy’s, etc |
Regional Shopping Centers |
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The process of growth and decline that retailoutlets experience, like products and the product life cycle
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Retail Life Cycle |
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A matrix that positions retail outlets on twodimensions: Breadth of Product line & Value added
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Retail Positioning Matrix |
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Where the customer meets the product.
o Through this that exchange occurs o includes all activities involved in selling, renting and providing products and services to ultimate consumers for persona, family or household use |
Retailing |
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Includes activities related to managing thestore and the merchandise in the store.
o Includes: retail pricing, store location, retailcommunication and merchandise |
Retailing Mix |
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Offering several unrelated product lines in asingle store.
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Scrambled Merchandising |
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The use of displays, coupons, product samplesand other brand communications to influence shopping behavior in a store.
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Shopper Marketing |
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A cluster of stores within a neighborhood aimedat serving people within a 5-10 minute drive.
o Composition of these strip malls is usuallyunplanned o Ex: Gas station + hardware + laundry+grocery+pharmacy |
Strip Mall |
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Marketing which involves using the telephone tointeract with and sell directly to consumers.
o Often viewed as a more efficient means oftargeting customers when compared to direct mail |
telemarketing |
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Describes how new forms of retail outlets enterthe market.
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Wheel of Retailing |
