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11 Cards in this Set
- Front
- Back
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Retailing
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encompasses the business activities involved in selling goods an services to consumers for their personal, family or household use
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Channel of distribution
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all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer
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sorting process
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involves the retailer's collecting an assortment of goods and services from various sources, buying them in large quantity, and offering to sell them in small quantities to consumers.
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Multi Channel retailing
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retailer sells to consumer through multiple retail formats (points of contact) to become more appealing
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exlusive distribution
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take place when suppliers enter agreements with one or a few retailers to designate the latter as the only firms in specified geographic areas to carry certain brands or product lines
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Intensive Distribution
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Takes place when suppliers sell through as many retailers as possible. this often maximizes suppliers' sales and lets retailers offer many brands and product versions
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selective Distribution
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Takes place when suppliers sell through a moderate number of retailers. this lets suppliers have higher sales than in exclusive distribution and lets retailers carry some competing brands
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What three factors most differentiate retailing from other types of business?
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small average sale, impulse purchases, popularity of stores
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Retailing Concept
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An appraoch to business that is customer-orientated,coordinated, value driven and goal orientated
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Total retail Experience
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includes all the elements in a retail offering that encourage or inhibit consumers during their contact with retailer.
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Customer Service
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refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with basic goods and servies it sells.
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