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19 Cards in this Set
- Front
- Back
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Trading Areas |
Geographic area from which a company draws most of it's business. |
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Fringe Trading Areas |
All remaining percentage of store's customers. Not main customer base. |
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Parasite Store |
Do not create their own traffic and have no real trading area of their own. |
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Destination Store |
They generate trading areas much larger than their competitors. |
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Centralized Buying Organization |
Finding the best deals with local vendors for the corresponding location for the company department. |
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Staple Merchandise |
Regular products carried by a retailer. |
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Micromerchandising |
Retailers adjust shelf-spaceallocations to respond to customer differences and other differences amonglocal markets. |
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Saturated Area |
Number of persons per area |
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Cooperative Buying |
agree to aggregate demand to get lower prices from selected suppliers |
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Analog model of site selection |
simplest.Revenue estimates based on similar stores, competition, expected market share,size and population density |
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Primary Trading Area |
50-80% of a store's customers |
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Geographic Informations Systems |
Digitized mapping with keylocation-specific data used to graphically depict trading-area characteristicssuch as opopulation demographicsodata on customer purchasesolistings of current, proposed, andcompetitor locations |
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Merchandising |
the activity of promoting the sale of goods, especially by their presentation in retail outlets. |
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Retail Assortment Strategy |
The number and type of products displayed by retailers for purchase by consumers. |
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Product Life Cycle |
Introduction, growth, maturity, decline |
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Forecasting |
utilizing existing data to predict future events and, more specifically, consumer behavior |
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Scrambled Merchandising |
retail business offers a mix of unrelated products that do not reflect the company's original focus. |
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Complimentary Goods |
a complementary good orcomplement is a good with a negative cross elasticity of demand, in contrast to a substitutegood. This means a good's demand is increased when the price of another good is decreased. |
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Cross Merchandising |
Retailers carry complementary goodsand services to encourage shoppers to buy more. |
