Mkt1003X Chapter 13 Retailing And Wholesaling

Front 1

retailing

Back 1

all activities involved in selling goods or services directly to final consumers for their personal, non-business use

Front 2

retailer

Back 2

a business whose sales come primarily from retailing

Front 3

specialty store

Back 3

a retail store that carries a narrow product line with a deep assortment within that time

Front 4

department store

Back 4

a retail organization that carries a wide variety of product lines - each line is operated as a separate department managed by specialist buyers or merchandisers

Front 5

supermarket

Back 5

large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products

Front 6

convenience store

Back 6

a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods

Front 7

superstore

Back 7

a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, non-food items, and services

Front 8

category killer

Back 8

giant specialty store that carries a very deep assortment of a particular line and is stuffed by knowledgeable employees

Front 9

discount store

Back 9

a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume

Front 10

off-price retailer

Back 10

retailer that buys at less-than-regular wholesale prices and sells at less than retail; e.g. factory outlets, independents, warehouse clubs

Front 11

independent off-price retailer

Back 11

off-price retailer that is either owned and run by entrepreneurs or is a division of a larger retail corporation

Front 12

factory outlet

Back 12

off-price retailing operations that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued or irregular goods

Front 13

warehouse club

Back 13

off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees

Front 14

chain store

Back 14

two or more outlets that are commonly owned and controlled

Front 15

franchise

Back 15

a contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent businesspeople (franchises) who buy the right to own and operate one or more units in the franchise system

Front 16

shopping center

Back 16

a group of retail businesses planned, developed, owned, and managed as a unit

Front 17

wheel-of-retailing concept

Back 17

a concept of retailing 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

Front 18

wholesaling

Back 18

a;ll activities involved in selling goods and services to those buying for resale or business use

Front 19

wholesaler

Back 19

a firm engaged primarily in wholesaling activities

Front 20

merchant wholesaler

Back 20

independently owned business that takes title to the merchandise it handles

Front 21

broker

Back 21

a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation

Front 22

agent

Back 22

a wholesaler who represent buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods

Front 23

manufacturers' sales branches and offices

Back 23

wholesaling by sellers or buyers themselves rather than through independent wholesalers