Marketing Chapter 13 : Retailing

Front 1

Retailing

Back 1

All the activities directly related to the sale of goods and services to the ultimate consumer from personal, nonbusiness use.

Front 2

Independent Retailers

Back 2

Retailers owned by a single person or partnership and not operated as part or a larger retail institution.

Front 3

Chain Stores

Back 3

Stores owned and operated as a group by a single organization.

Front 4

Franchise

Back 4

The right to operate a business or to sell a product.

Front 5

Gross Margin

Back 5

The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted.

Front 6

Department Store

Back 6

A store housing several departments under one roof.

Front 7

Buyer

Back 7

A department head who selects the merchandise for his or her department and may also be responsible for promotion and personnel.

Front 8

Specialty Store

Back 8

A retail store specializing in a given type of merchandise.

Front 9

Supermarket

Back 9

A large, departmentalized, self-service retailer that specializes in food and some nonfood items.

Front 10

Scrambled Merchandising

Back 10

The tendency to offer a wide variety of non-traditional goods and services under one roof.

Front 11

Drugstore

Back 11

A retail store that stocks pharmacy-related products and services as its main draw.

Front 12

Convenience Store

Back 12

A miniature supermarket, carrying only a limited line of high-turnover convenience goods.

Front 13

Discount Store

Back 13

A retailer that competes on the basis of low prices, high turnover, and high volume.

Front 14

Full-line Discount Store

Back 14

A retailer that offers consumer a very limited service and carries a broad assortment of well-known, nationally branded "hard goods"

Front 15

Mass Merchandising

Back 15

A retailing strategy using moderate to low prices on large quantities of merchandise and lower level of service to stimulate high turnover of products.

Front 16

Supercenter

Back 16

A retail store that combines groceries and general merchandise goods with a wide range of services.

Front 17

Specialty Discount Store

Back 17

A retail store that offers a nearly complete selection of a single-line merchandise and uses self-service, discount prices, high volume, and high turnover.

Front 18

Category Killers

Back 18

Specialty discount stores that heavily dominate their narrow merchandise segment.

Front 19

Warehouse Membership Clubs

Back 19

Limited-service merchant wholesalers that sell a limited selection of brand-named appliances, household items, and groceries on a cash-and-carry basis to members, usually small businesses and groups.

Front 20

Off-Price Retailer

Back 20

A retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its stock and usually doesn't ask for return privileges.

Front 21

Factory Outlet

Back 21

An off-price retailer that is owned and operated by a manufacturer.

Front 22

Nonstore Retailing

Back 22

Shopping without visiting a store.

Front 23

Automatic Vending

Back 23

The use of machines to offer goods for sale.

Front 24

Direct Retailing

Back 24

The selling of products by representatives who work door-to-door, office-to-office, or at home parties.

Front 25

Direct Marketing (direct-response marketing)

Back 25

Techniques used to get consumer to make a purchases from their home, office, or another nonretail setting

Front 26

Telemarketing

Back 26

The use of the telephone to sell directly to consumers.

Front 27

Online Retailing

Back 27

A type of shopping available to consumers with personal computers and access to the Internet.

Front 28

Franchisor

Back 28

The originator of a trade name, product, methods of operation, and so on that grants operating rights to another party to sell its product.

Front 29

Franchisee

Back 29

An individual or business that is granted the right to sell another party's product.

Front 30

Retailing Mix

Back 30

A combination of the six P's - Product, Place, Promotion, Price, Presentation, and Personnel - to sell goods and services to the ultimate consumer.

Front 31

Product Offering

Back 31

The mix of products offered to the consumer by the retailer; also call the product assortment or merchandise mix.

Front 32

Destination Stores

Back 32

Stores that consumer purposely plan to visit.

Front 33

Atmosphere

Back 33

The overall impression conveyed by a store's physical layout, decor, and surroundings.