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7 Cards in this Set
- Front
- Back
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Retailing |
Activities directly related to the sale of goods & services to the consumer for personal use |
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Classification of Retail Operations |
Ownership Level of Service Product Assortment Price |
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Classification of Ownership |
independent retailers: Owned by a single person or partnership Chains: Owned and operated as a group by a single organization Franchises: The right to operate a business or to sell a product |
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Gross Margin |
amount made as a percentage of sales minus COGS |
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Major Types of Retail Operations |
Department stores, specialty stores, supermarkets, drugstores, convenience stores, discount stores, restaurants |
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Choosing the Retailing Mix |
Product personnel Place presentation promotion price |
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Retailing Mix |
The mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix.
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