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55 Cards in this Set

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outside the US, large retailers include Daiei in _____, Carrefour in ______, _____ _____ in germany, and ______ in Britain
Japan, France, Metro Group, Tesco
what are the three different ways to classify retail outlets
1. form of service (individuals, chains, or contractual systems) 2. level of service (self, limited, and full) 3. merchanidise line
one of the most common froms of retail ownership is the independent retailer owned by an ______. more than ____% of all retailers have four or less employees
individual, 50
stores such as wal mart and target are implementing pioneering new technolggies such as _____ _____ ______ _____ (RFID) tags to improve quality of info available about products
radio frequency identification
corporate chains have advatages in dealing with _______, particularly as size grows. they can obtain good service of ______ discounts on orders
manufacturers, volume
________ systems involve independently owned stores that band together to act like a chain.
contractual
waht are the three kinds of contractual systems?
1. retailer-sponsored, 2. wholesaler-sponsored voluntary chains, and 3. franchises
in ____-format franshising, the frandshisor provides step by step procedures for omst aspects of buisiness and guidelines (mcdonalds, radioshack)
business
waht are the two types of franchises? provide one example of each
1. business-format (mcdonalds, subway, radioshack) and 2. product-distribution (ford dealership or coke distributor)
differences among retailers are more obvious in terms of L____ o_ S_____
level of service
give an example of a self-service retailer
costco, gas station
give a brief def of limited service retailer and an example
customers are responsible for most shopping activities, although salespeople are available in dept; kmart, target, walmart
def full service retailer and give an example
includes most specialty stores and dept stores, provide many services to customres (credit, financine, gift wrapping, etc); nordstrom, neiman marcus, saks fifth ave
waht are the two types of merchandise lines?
depth of line, breadth of line
stores that carry a considersable assrothment (depth) of a related line of producuts are called ____-___ stores
limited line
give an example of a self-service retailer
costco, gas station
give a brief def of limited service retailer and an example
customers are responsible for most shopping activities, although salespeople are available in dept; kmart, target, walmart
def full service retailer and give an example
includes most specialty stores and dept stores, provide many services to customres (credit, financine, gift wrapping, etc); nordstrom, neiman marcus, saks fifth ave
waht are the two types of merchandise lines?
depth of line, breadth of line
stores that carry a considersable assrothment (depth) of a related line of producuts are called ____-___ stores
limited line
limited and single line stores are often referred to as ________ outlets
specialty
stores that carry tremendous depth in one primary line of merch are _____-___ stores
single line
stores that carry a broad product line, with limited depth are referred to as ________ ______ stores (macys, dillards)
general merchandise
def scrambled merchandising
offfering several unrealted prduct lines in a single store (drugstores)
what are the six forms of nonstore retailing?
1. automatic vending
2. direct mail and catalogs
3. TV home shopping
4. online shopping
5. telemarketing
6. direct selling
direct mail focuses on ______ customers rather than ________ customers to save money and be more green
proven, prospective
compared with direct mail, _________ is viewed as a more efficient means of targeting consumers
telemarketing
give some examples of retailers who participate in direct selling
mary kay, avon, fuller brush
(direct sales through personal interactions, and demonstrations in home or office)
the numbr of companies using direct selling has increase by ___% in the past 5 years
30
define the retailing mix (PLCM)
activities related to managing the store and the merchandising in the store, which includes retail pricing, store location, retail communication, and merchadise
the original markup is the difference between the ______ cost and the initial ______ price
retailer, selling
the difference between the final selling price and retailer cost is the _______ markup, which is also called the ______ margin
maintained, gross
walmart an dhome depot consistensly offere ow prices and emlinate most markdowns with a strategy called ________ ______ ______
everyday low pricing
retailers decided on the original markup, but by the time the product is sold, they end up with a __________ markup
maintained
E____ F___ P_____ is advoated by reatilers that may not offere ht lowest price, but try to create value for customers thorugh ssercive and the total buying experience
everyday fair pricing
most stores today are near several others in one of these four settings...
1. central business district
2. regional center
3. strip mall
4. power center
which store setting typically consists of 50-150 stores that typically attract cusotmers who live or work withing a 5 to 10 mile range and have 2 or 3 anchor stores (west edmonton mall in canada)
regional shopping centersf
which store setting is a huge shopping strip with multiple anchor (2-5) stores. they often contain a super market, which brings the shopper on a weekly basis
power center
def strip mall
crappy string of unplanned stores (elk river crossing), grocery, laundry, pharmacy, hardware, etc
def category mangement
an approcach to managin the assortment of merchandise that maximizes sales and profits (a category manager might be responsibel for shoes in a dept store or paper products in a grocery store
waht is CMAR?
consumer marketing at retail (research used to id shopper problems, creating marketing mix solutions, executing programs, and montiroing performance of merch)
waht are the three categories of marketing metrics that can be used to asses hte affetiveness of a store?
cusotmer (# of customers in store), product (number of returns, inv turnover), and financial (gross margin, sales per employee)
def the wheel of retailing
descibes how new forms of retail outlets enter hte market
def the retail life cycle and list each of its stages
process of growth and decline that retail outlets experience over time (early growth, accelerated development, maturity, decline) pg. 327
def merchant wholesalers
independently owned firms that take title to the merchandise they handle
def general merchandise wholesalers (full-line)
broad assortment of merch and perform all channel fucntion; most prevalent in hardware, drug and clothing industries; don't maintain much depth
def specialty merchandise wholesalers (limited line)
narrow range of products, extensive assortment within product lines carried; perform all channel fucntions; health foods, auto parts, seafood
def rack jobbers (limited service)
furnish racks or shelves that display merch in retail stores ;(hosiery, toys, housewares, and health/beauty items)
def cash and carry wholesales (limited service)
sell to buyers who call on them, pay cash for merch and furnish thier own trans for merch; do not make deliveries, extend credit, or supply market info; electric supplies, office supplies, prudcts, groceries
def drop shippers ( or desk jobbers)
wholesalers taht own merch they sell but do not handle stock or deliver; they just solicit orders; used for bulky products like coal, lumber, chemicals
def truck jobbers
small wholesalers; have limited assortments of fast-moving or perishable items aht are sold for cash directly from trucks; bakery items, dairy, meat
def manufacturers agents
agenst who work for several producers and carry noncompetitive, completmentary merch in an exclusice territory
def selling agents
represent single producer; responsible for entire marketing function of that producer; textile, apparel, food, and home furnishing indsustries
what are ... independent firms of individuals whose main funciton is to bring buyers and sellers together to make sales (used with seasonal products and in real estate)
brokers
waht is the difference between a manufacutures branch office, and a manufacutures sales office
branch carries inventory and performs sales (full service), sales just performs sales (alternative to agents and brokers)