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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.
retailing
a business whose sales come primarily from retailing
retailer
retail store that carries a narrow product line with a deep assortment within that line
specialty store
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
department store
a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
supermarket
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
convenience stores
store much larger than a regular supermarket that offers a large assortmentof routinely purchased food products, nonfood items, and services
superstore
a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees
category killer
a retailer whose product line is actually a service, including hotels, airlines, banks, colleges
service retailer
a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume
discount store
a retailer that buys a less-than-regular wholesale prices and sells at less than retail (factory outlets, warehouse clubs)
off-price retailer
an off-price retailer that is either independently owned and run of is a division of a larger retail corporation
independent off-price retailer
off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods
factory outlet
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
warehouse club
two or more outlets that are commonly owned and controlled
chain stores
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
franchise
a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
shopping center
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
wheel-of-retailing concept
all activities involved in selling goods and services to those buying for resale of business use
wholesaling
a firm engaged primarily in wholesaling activities
wholesaler
an independently owned wholesaler business that takes title to the merchandize it handles
merchant wholesaler
a wholesaler who doesn't take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
broker
a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods
agent
wholesaling by sellers or buyers themselves rather than through independent wholesalers
manufacturers' sales branches and offices