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28 Cards in this Set
- Front
- Back
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Price Policy |
Must fit the target market and positioning, product and service assortment, and competition
-high markup on lower volume
-low markup on higher volume |
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High-Low Pricing |
Charging higher prices on an everyday basis, coupled with frequent sales and other price promotions |
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Every Day Low Price (EDLP) |
Charging constant everyday low prices with few sales or discounts |
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Central Business Districts |
Located in cities and include department and specialty stores, banks, and movie theaters |
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Shopping Center |
Group of retail businesses planned, developed, owned, and managed as a unit |
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Wheel-of-Retailing Concept |
States that many new types of retailing forms begin as low-margin, low-price, low-status operations, and challenge established retailers. As they succeed they upgrade their facilities and offer more services, increasing their costs and forcing them to increase prices, eventually becoming the retailers they replaced. |
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Wheel of Retailing Diagram |
Higher: price product place promotion -->Lower: price product place promotion--> Low: price product place promotion--> |
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Non-Store Retailing (Growth) |
Mail Order TV Phone Online |
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Retail Convergence |
Merging of consumers, producers, prices, and retailers, creating greater competition for retailers and greater difficulty differentiating offerings. |
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Rise of Megaretailers |
Rise of mass merchandisers and specialty superstores, the formation of vertical marketing systems, and a rash of retail mergers and acquisitions
-superior info systems -buying power -large selection |
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Growing Importance of Retail Technology |
Provides better forecasts, inventory control, electronic ordering, transfer of information, scanning, online transaction processing, improved merchandise handling systems, and ability to connect with customers |
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Wholesaling |
All activities involved in selling goods and services to those buying for resale or business use |
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Selling and Promoting |
Wholesaler's sales force helping the manufacturer reach many smaller customers at lower cost |
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Buying Assortment |
? |
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Bulk Breaking |
Wholesaler buying in larger quantity and breaking into smaller lots for its customers |
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Warehousing |
Wholesaler holds inventory, reducing its customers inventory cost and risk |
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Transportation |
Wholesaler providing quick delivery due to its proximity to the buyer |
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Financing |
Wholesaler provides credit and financing suppliers by ordering earlier and paying on time |
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Risk Bearing |
Wholesaler absorbs rich by taking title and bearing the cost of theft, damage, spoilage, and obsolescence |
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Market Info |
Wholesaler provides info to suppliers and customers about competitors, new products, and price developments |
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Management Services and Advice |
? |
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Merchant Wholesalers |
Largest group of wholesalers and include:
Full Service wholesalers who provide a full set of services
Limited fjekgegnerkjbner |
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Brokers and Agents |
Do not take title, perform a few functions, specialize by product line or customer type
Brokers bring buyers and sellers together dsgfndkjgadflkbnsdkfjlbnkdslf |
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Manufacturers' Sales Branches and Offices |
A form of wholesaling by sellers or buyers themselves rather than through independent wholesalers |
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Target Market and Positioning Decisions |
Size of customer Type of customer Need for service |
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Marketing Mix Decisions |
Product Price Promotion Place |
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Challenges in Wholesaling |
Resistance to Price Increases Fewer Suppliers Changing customer needs Adding value by increasing efficiency and effectiveness |
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Wednesday 18th Exam 50 multiple choice = 100 pts |
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