Chapter 11 - Retailing And Wholesaling

Front 1

Retailing

Back 1

All the 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

Shopper Marketing

Back 3

Using point-of-sale promotions and advertising to extend brand equity to "the last mile" and encourage favorable in-store purchase decisions

Front 4

Specialty Store

Back 4

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

Front 5

Department Store

Back 5

A retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandiser

Front 6

Supermarket

Back 6

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

Front 7

Convenience Store

Back 7

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 8

Superstore

Back 8

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

Front 9

Category Killer

Back 9

A giant specialty store that carries a very deep assortment of particular line

Front 10

Service Retailer

Back 10

A retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others

Front 11

Discount Store

Back 11

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

Front 12

Off-PriceRetailer

Back 12

A retailer that buys at less-than-regular wholesale pricesand sells at less than retail

Front 13

IndependentOff-Price Retailer

Back 13

Anoff-price retailer that is either independently owned and run or is a divisionof a larger retail corporation

Front 14

FactoryOutlet

Back 14

Anoff-price retailing operation that is owned and operated by a manufacturer andnormally carries the manufacturer’s surplus, discontinued, or irregular goods

Front 15

Warehouse Club

Back 15

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

Front 16

Corporate Chains

Back 16

Two or more outlets that are commonly owned and controlled

Front 17

Franchise

Back 17

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

Front 18

Shopping Center

Back 18

A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit

Front 19

Wheel-of-retailing concept

Back 19

A concept that suggests new types of retailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced operations, eventually becoming like the conventional retailers they replaced

Front 20

Wholesaling

Back 20

All the activities involved in selling goods and services to those buying for resale or business use

Front 21

Wholesaler

Back 21

A firm engaged primarily in wholesaling activites

Front 22

Merchant Wholesaler

Back 22

An independently owned wholesale business that takes title to the merchandise it handles

Front 23

Broker

Back 23

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

Front 24

Agent

Back 24

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

Front 25

Manufacturers' Sales Branch and Offices

Back 25

Wholesaling by sellers or buyers themselves rather than through independent wholesalers