Retail Management A Strategic Approach: Chapter 5

Front 1

strategy mix

Back 1

1

Front 2

destination retailer

Back 2

2

Front 3

wheel of rtailing

Back 3

3

Front 4

scrambled merchandising

Back 4

4

Front 5

How do retail institutions react to evolution

Back 5

mergers
diversification
downsizing
cost containment
value-driven retailing

Front 6

Merger

Back 6

the combination of separately owned retail firms

Benefits, maximize resources, broaden customer base provides chance for stronger retailer to grow more rapidly and provide longevity for weaker.

Front 7

Diversification

Back 7

becoming active in business outside firms normal operation

Front 8

Downsizing

Back 8

Nonprofitable firms being closed or division sold off

Front 9

convenience store

Back 9

typically well located, food-orientaed retailer that is open long hours and carries a moderate number of items. small facility. average to above average prices

Front 10

Supermarket

Back 10

a self-service food store with grocery, meat and produce departments and minimum annual sales of $2 million

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Conventional Supermarket

Back 11

is a departmentalized food store with a wide range of food and retaled products: sales of general merchandise are limited. concept started over 80 years ago when it was recognized that large-scale operations would let a retailer combine volume sales, self-service and low prices.

Front 12

food-based superstore

Back 12

larger and more diversified than a conventional supermarket but usually smaller and less diversified than a combination market.

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Combination Store

Back 13

unites supermarket and general merchandise into one facility, with general merchandise accounting for 25 to 40 percent of sale.

Front 14

Supercenter

Back 14

a combination of store blending an econmy supermarket with a discount department store. Wal-Mart Target

Front 15

Box (limited-line) store

Back 15

is a food-based discounter that focuses on small selection of items, moderate hours of operation few services, and limited manufacturers.

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Warehouse Stores

Back 16

is a food-based discounter offering a moderate number of food items in a no-frills setting. appeals to one stop food shoppers, concentrates on special purchases of popular brands, uses cut-case displays, offers little service, post price on selves

Front 17

specialty Store

Back 17

Concentrates on selling one good or service line, such as young womans apparel

Front 18

Category killer/power retail

Back 18

an especially larger specialty store. Offers enormous selections in its category at relatively low prices

Front 19

department store

Back 19

Larger retailer unit with an extensive assortment (width and depth) of goods and services that is organized into seperate departments for purposes of buying, promotion, customer service, and control.

Front 20

Traditional department store

Back 20

merchandise quality ranges from average to quite good. Pricing moderate to above average.

Front 21

full-line discount store

Back 21

type of department store with a broad , low-priced product assortment; all of the range of products expected at department stores; centralized checkout service; self-service; private-brand non-duratbles and well-known manufacturer-brand

Front 22

Variety Store

Back 22

outlet that handles a wide assortment of inexpensive and populartly priced goodss and services, such as apparel and accessories, costume jewelry, notions and small wares, candy, toys and other items in the price range.

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off-price chain

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features brand-name apparel and accessories, footwear, linens, fabrics, cosmetics, and/or housewares and sells them at every day low prices in an efficient, limited-service environment.

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Factory Outlet

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Manufacturer-owned store selling its closeouts, discontinued merchandise, irregulars, canceled orders, and sometimes, in-season, first-quality merchandise

Front 25

membership club

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appeals to price conscious consumer, who must be members to shop

Front 26

flea market

Back 26

location where many venders offer a range of products at discount priced in plain surroundings. Many flea markets are located in nontraditional sites, not normally associated with retailing