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24 Cards in this Set
- Front
- Back
All activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.
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retailing
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a business whose sales come primarily from retailing
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retailer
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retail store that carries a narrow product line with a deep assortment within that line
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specialty store
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a retail organization that carries a wide variety of product lines - each line is operated as a separated department managed by specialist buyers or merchandisers
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department store
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a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
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supermarket
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a small store, located near a residential ares, that is open long house seven days a week and carries a limited line of high-turnover convenience goods
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convenience stores
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store much larger than a regular supermarket that offers a large assortmentof routinely purchased food products, nonfood items, and services
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superstore
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a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees
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category killer
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a retailer whose product line is actually a service, including hotels, airlines, banks, colleges
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service retailer
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a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume
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discount store
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a retailer that buys a less-than-regular wholesale prices and sells at less than retail (factory outlets, warehouse clubs)
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off-price retailer
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an off-price retailer that is either independently owned and run of is a division of a larger retail corporation
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independent off-price retailer
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off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods
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factory outlet
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off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing at deep discounts to members who pay annual membership fees
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warehouse club
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two or more outlets that are commonly owned and controlled
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chain stores
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contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the franchise system
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franchise
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a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
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shopping center
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a concept 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
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wheel-of-retailing concept
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all activities involved in selling goods and services to those buying for resale of business use
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wholesaling
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a firm engaged primarily in wholesaling activities
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wholesaler
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an independently owned wholesaler business that takes title to the merchandize it handles
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merchant wholesaler
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a wholesaler who doesn't take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
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broker
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a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods
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agent
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wholesaling by sellers or buyers themselves rather than through independent wholesalers
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manufacturers' sales branches and offices
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