Mkt 3013 Ch. 16

Front 1

the final stop in the distribution channel in which organizations sell goods and services to consumers for their personal use

Back 1

retailing

Front 2

a theory that explains how retail firms change, becoming more upscale as they go through their life cycle

Back 2

wheel of retailing hypothesis

Front 3

a theory that focuses on the various stages that retailers pass through from intoduction to decline

Back 3

retail life cycle

Front 4

when two or more separately owned retail firms combine

Back 4

mergers

Front 5

when a firm in a mature industry closes or sells off unprofitable stores or entire divisions

Back 5

downsizing

Front 6

retail computer systems that collect sales data and are hooked directly into the store's inventory control system

Back 6

point of sale POS systems

Front 7

retail computer system that keeps a running total on sales, returns, transfers to the other stores and so on

Back 7

perpetual inventory unit control system

Front 8

retail reordering stystem that automatically activated when inventories reach a certain level

Back 8

automatic reordering system

Front 9

losses experienced by retailers due to shoplifting, employee theft, and damage to merchandise

Back 9

shrinkage

Front 10

consumer practice of purchasing a product with the intent to return the nondefective merchandise for a refund after it has fulfilled the purpose for which it was purchased

Back 10

retail borrowing

Front 11

the total set of all products offered for sale by a retailer, including all product lines sold to all consumer groups

Back 11

merchandise mix

Front 12

retailers that offer consumers food and general merchandise in the same store

Back 12

combination stores

Front 13

large combination stores that combine economy supermarkets with other lower priced merchandise

Back 13

supercenters

Front 14

the range of products a store sells

Back 14

merchandise assortment

Front 15

the number of product lines available

Back 15

merchandise breadth

Front 16

shoppers will find a limited selection of product lines

Back 16

narrow assortment

Front 17

wide range of items

Back 17

broad assortment

Front 18

the variety of choices available for each specific product line

Back 18

merchandise depth

Front 19

selection within a product category is limited

Back 19

shallow assortment

Front 20

selection within a product category is large

Back 20

deep assortment

Front 21

neighborhood retailers that carry a limited number of frequently purchased items and cater to consumers willing to pay a premium for the ease of buying close to home

Back 21

convenience stores

Front 22

food stores that carry a wide selection of edibles and related products

Back 22

supermarkets

Front 23

food stores that have a limited selection of items, few brands per item, and few refrigerated items

Back 23

box stores

Front 24

a very large specialty store that carries a vast selection of products in its category

Back 24

category killer

Front 25

retailers that carry only a few product lines but offer good selection within the lines that they sell

Back 25

specialty stores

Front 26

departments within a larger retail store that an outside firm rents

Back 26

leased departments

Front 27

stores that carry a variety of inexpensive items

Back 27

variety stores

Front 28

retailers that offer a broad assorment of items at low prices with minimal service

Back 28

general merchandise discount stores

Front 29

retailers that buy excess merchandise from well known manufacturers and pass the savings on to customers

Back 29

off price retailers

Front 30

discount retailers that charge a modest membership fee to consumers who buy a broad assortment of food and nonfood items in bulk and in a warehouse environment

Back 30

warehouse clubs

Front 31

a discount retailer, owned by a manufacturer, that sells off defective merchandise and excess inventory

Back 31

factory outlet store

Front 32

retailers that sell a broad range of items and offer a good selection within each product line

Back 32

department stores

Front 33

retailers with the characteristics of both warehouse stores and supermarkets; they are several times larger thatn other stores and offer virtually everything from grocery items to electronics

Back 33

hypermarkets

Front 34

any method used to complete an exchange with a product end user that does not require a customer visit to a store

Back 34

nonstore retailing

Front 35

an interactive sales process in which a salesperson presents a product to one individual or a small group, takes orders, and delivers the merchandise

Back 35

direct selling

Front 36

community regulations that prohibit door to door selling unless prior permission is given by the household

Back 36

Green River Ordinances

Front 37

a sales technique that relies heavily on people getting caught up i the group spirit, buying things they would not normally buy if they were alone

Back 37

party plan system

Front 38

a system in which a master distributor recruits other people to become distributors, sells the company's product to the recruits, and receives a commission on all the merchandise sold by the people recruited

Back 38

multilevel or network marketing

Front 39

an illegal sales technique that promises consumers or investors large profits from recruiting otehr to join the program rather than from any real investment or sale of goods to the public

Back 39

pyramid schemes

Front 40

online exchanges between companies and individual consumers

Back 40

business to consumer B2C e commerce

Front 41

consumers who engage in online shopping because of the experiential benefits they receive

Back 41

experiential shoppers

Front 42

the way the marketplace perceives a retailer relative to the competition

Back 42

store image

Front 43

the use of color, lighting, scents, furnishings, and other design elements to create a desired store image

Back 43

atmospherics

Front 44

the direction in which shoppers will move through the store and which areas they will pass or avoid

Back 44

traffic flow

Front 45

the design of all the things customers see both inside and outside the store

Back 45

visual merchandising

Front 46

the physical exterior of a store

Back 46

storefront

Front 47

the sign that shows a store's name

Back 47

marquee

Front 48

setting prices that are between the manufacturer list price and the deeply discounted price stores; do it everyday

Back 48

every day low pricing strategy EDLP

Front 49

the traditional downtown business area found in a town or city

Back 49

central business district CBD

Front 50

a group of commercial establishments owned and managed as a single property

Back 50

shopping center

Front 51

a temporary retail space a company erects to build buzz for its products

Back 51

popup store

Front 52

a geographic zone that accounts for the majority of a store's sales and customers

Back 52

trade area