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28 Cards in this Set
- Front
- Back
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Gentrification
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bringing population back to the cities.
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inner city
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typically a high-density urban area consisting of apartment buildings populated primarily by ethnic groups
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Main Street
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the central business district located in the traditional shopping area of smaller towns, or a secondary business district in a suburb or within a larger city
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GIS
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a system of hardware and software used to store, retrieve, map and analyze geographic data along with the operating personnel and the data that goes into the system
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accessibility
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the degree to which customers can easily get into and out of a shopping center; the ability of the retailer to deliver the appropriate retail mix to customers in the segment.
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customer spotting
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a technique used in trade area analysis that "spots" (locates) residences of customers for a store or shopping center
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geodemographic segmentation
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a market segmentation system that uses both geographic and demographic characteristics to classify consumers
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authentication
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system assures person on other end of session is who it claims to be
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authorization
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that person has permission to carry out request
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integrity
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info arriving is the same that was sent
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logistics
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the aspect of supply chain that refers to the planning, implementation, and control of the efficient flow and storage of goods, services, and related information from the point of origin to the point of consumption to meet customers' requirements
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drop-shipping
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consumer direct fulfillment/a system in which retailers receive orders from customers and relay these orders to vendors and then the vendors ship the merchandise ordered directly to the customer
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bullwhip effect
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the built up inventory in an uncoordinated channel where retailers and vendors do not coordinate their supply chain activities
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share of wallet
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the percentage of the customers' purchases made from the retailer
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CRM
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an iterative process that turns customer data into customer loyalty through four activities
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transactions
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a complete history of purchases
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customer contacts/touch points
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visits to web site, inquires to call center, direct mail sent to customer
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notice and awareness
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comprehensive statement about information storage, manipulation, and dissemination
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choice/consent
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opt-in and opt-out options
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access/participation
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customer able to confirm accuracy
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integrity/security
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controls for the theft and tampering
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enforcement/redress
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mechanism to insure compliance
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data mining
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technique used to identify patterns in data
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customer alchemy
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converting iron and gold customers into platinum customers
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add-on selling
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as a way to achieve customer alchemy
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RFM (recency, frequency, monetary) analysis
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often used by catalog retailers and direct marketers, a scheme for segmenting customers on the basis of how recently they have made a purchase, how frequently they make purchases, and how much they have bought
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frequent-shopper program
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a reward and communication program used by a retailer to encourage continued purchases from the retailer's best customers
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1-to-1 retailing
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developing retail programs for small groups or individual customers
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