1. Retailing
    Activities involved in selling merchandise to ultimate consumers
  2. Wheel of retailing
    Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services
  3. Six Components of retail strategy
    • 1.Merchandising
    • 2. Promotion
    • 3. Location/Distribution
    • 4. Store Atmospherics
    • 5. Pricing
    • 6. Customer Service        
  4. Stock-keeping unit (SKU)
    Offering within a product line such as a specific size of liquid detergent
  5. Markup
    Amounts a retailer adds to the cost of a product to determine its selling price
  6. Markdown
    Amount by which a retailer reduces the original selling price of a product
  7. Planned shopping center
    Group of retail stores planned, coordinated, and marketed as a unit
  8. Atmospherics
    Combination of phsical characteristics and amenities that contribute to a store's image
  9. Convenience retailer
    Store that appeals to customers on accessible location, long hours,rapid check out, and adequate parking
  10. Specialty retailer
    Store that comines carefully defined product lines,services, and reputation to persuade shoppers to spend considerable shopping effort there
  11. Limited-line store
    Retailer that offers a large assortment within a single product line or within a few related product line
  12. Category killer
    Store offering huge selections and low prices in single product lines
  13. General merchandise retailer
    Store that carries a wide variety of product lines,stocking all of them in some depth
  14. Department Store
    Large store that handles a variety of merchandise, including clothing, household goods, appliances, and furniture
  15. Mass merchandiser
    Store that stocks a wider line of goods than a department store, usually without the same depth of assortment within each line
  16. Discount house
    Store that charges low prices but may not offer services such as credit
  17. Hypermarket
    Giant one-stop shopping facility offering wide selections of grocery items and general merchandise at discount prices, typically filling up 200,000 or more square feet of selling space
  18. Supercenter
    Large store,usually smaller than a hypermarket that combines groceries with discount store merchandise
  19. Retail convergence
    Situation in which similar merchandise is available from multiple retail outlets,resulting in the blurring of distinctions between types of retailers and merchandise offered
  20. Scrambled merchandising
    Retailing practice of combining dissimilar product lines to boost sales volume
  21. Wholesaler
    Channel intermediary that takes title to goods it handles and then distributes these goods to retailers, other distributors, or B2B customers
  22. Wholesaling intermediary
    Comprehensive term that describes wholesalers as well a agents and brokers
  23. Merchant wholesaler
    Independently owned wholesaling intermediary that takes title to the goods it handles; also known as the industrial distribution in the business goods market
  24. Rack jobber
    Full-function merchant wholesaler that markets specialized lines of merchandise to retail stores (Represents to product and fills to shelves)
  25. Truck wholesaler (for truck jobber)
    Limited-function merchant wholesaler that markets perishable food items
  26. Drop shipper
    Limited-function merhant wholesaler that accepts orders from customers and forwards these orders to producers,which then ship directly to the customers who placed the orders
  27. Mail-order wholesaler
    Limited-function merchant wholesaler that distributes catalogs instead of sending sales personnel to contact customers
  28. Commission merchant
    Agent wholesailing intermediary who takes possession of goods shipped to a central market for sale, acts as the producer's agent,and collects an agreed-upon fee at the time of the sale
  29. Broker
    Agent wholesailing intermediary that does not take title to or possession of goods in the course of its primary function, which is to bring together buyers and sellers
  30. Selling agent
    Agent wholesaling intermediary for the entire marketing program of a firm's product line
  31. Manufacturer's representative
    Agent wholeselling intermediary that represents manufacturers of related but noncompeting products and recieves a commission on each sale
  32. Direct marketing
    Direct communications, other than personal sales contrats, between buyer and seller,designed to generate sales, information requests, or store or Web site visits
Card Set
Retailers, Wholesalers, and direct marketers