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23 Cards in this Set

  • Front
  • Back
all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.
a business whose sales come primarily from retailing
a retail store that carries a narrow product line with a deep assortment within that line.
specialty store
a retail organization that carries a wide variety of product lines
department store
large, low-cost, low-margin, high volume, self-service store that carries a wide variety of food, laundry, and household products.
a small store, located near a residential area, that is open long hours 7 days a week and carries a limited line of high-turnover convenience goods.
convenience store
a store much larger than a regular supermarket that carries a large assortment of routinely purchased food products, nonfood items, and services.
giant specialty store that a very deep assortment or particular line and staffed with knowledgeable employees.
category killer
a retail institution that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume.
discount store
retailer that buys at less-than-regular wholesale prices and sells at less than retail.
off-price retailer
an off-price retailer that is either owned and run by an entreprenuer or is a division of a larger retail corporation
independent off-price retailer
an off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods.
facory outlet
an off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and hodgepodge of other goods at deep discounts to members who pay annual membership fees.
warehouse club
two or more outlets that are owned and controlled in common, have central buying and merchandising, and sell similar lines of merchandise
chain stores
a contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the franchise system
a group of retail businesses planned, developed, owned and managed as a unit.
shopping center
a concept of retailing that states that new types of retailers usually begin as loq-margin, low price, low status operations but later evolve into higher-priced, higher service operations, eventually becoming like the conventional retailers they replaced
wheel of retailing concept
all activities involved in selling goods and services to those buying for resale or business use
a firm engaged primarily in wholesaling activity
independently owned business that takes title to the merchandise it handles
merchant wholesaler
a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods.
wholesaling by sellers or buying themselves rather than through independent wholesalers
manufacturers' sales brances and offices