Retail management

set of institutions that move goods from the point of production to the point of consumption.

term used interchangeably with supply chain.

channel members that take title to the goods as they move through the marketing channel… include manufacturers, wholesalers, and retailers.

do not actually take title but assist in the marketing process byspecializing in the performance of certain marketing functions.

facility that stores goods for safekeeping for any owner in return for afee, usually based on space occupied.

channel where a manufacturer sells its goods directly to the final consumer or end user

channel that occurs when a manufacturer sells its goods through wholesalers and/or retailers

all possible retailers are used in a trade area

a moderate number of retailers are used in a trade area

one retailer is used to cover a trading area

each channel member is loosely aligned with the others and takes ashort‐term orientation

capital‐intensive networks of several levels that are professionally managed and centrally programmed to realize the technological,managerial, and promotional economies of a long‐term relationship orientation.

aka efficient consumer response (ECR) systems ‐ integrated information, production, and logistical systems that obtain real‐time information on consumer actions by capturing POS sales data transmitting this information back through the entire channel to enable efficient production and distribution scheduling

the lowest level of identification of merchandise.

one channel institution owns multiple levels of distribution and typically consists of either a manufacturer that has integrated vertically forward to reach the consumer or a retailer that has integrated vertically backward to create a self‐ supply network.

contract to govern the working relationship between channel membersand include wholesaler‐ sponsored voluntary groups, retailer‐owned cooperatives, and franchised retail programs.

wholesaler brings together a group of independently owned retailers and offers them a coordinated merchandising and buying program that will provide them with economies like those chain store rivals are ableto obtain

wholesale institutions, organized and owned by member retailers, that offer scale economies and services to member retailers, allows them tocompete with larger chain buying organizations.

form of licensing by which the owner of a product, service, or business method (the franchisor) obtains distribution through affiliated dealers (franchisees).

occurs when a retailer needs another supply chain member or vice versato perform certain marketing functions. Members of the supply chain dependent on each other are referred to as interdependent.

the ability of a channel member to influence decisions other members

Is based on B's perception that A has the ability to provide rewards for B.

Is based on B's perception that A has some special knowledge

Is based on the identification of B with A.

Is based on B's belief that A has the capability to punish or harm B if B doesn't do what A wants.

Is based on A's right to influence B, or B's belief that B should accept A's influence.

Is based on A's ability to provide B with factual data.

retailer and supplier have different perceptions of reality

achieving the goals of either the supplier or the retailer would hamper the performance of the other.

manufacturer sells to independent retailers and also through its own retailoutlets.

disagreement about which member of the marketing channel shouldmake decisions

an unauthorized member of a channel who buys and sells excess merchandise to and from authorized channel members.

branded merchandise flows across national boundaries and through unauthorized channels.

a consumer seeks product information, usage instructions, and sometimes even warranty work from a full-service store but then, armed with the brand's model number, purchases the product from a limited service discounter or over the Internet

retailer and its supplier have faith that each will be truthful and fair in their dealings with the other.

retailer and supplier communicate their ideas, concerns, and plans.

high value is placed on the relationship between a supplier and retailer.

Process of managing all SKUs within a product category and involves the simultaneous management of price, shelf-space, merchandising strategy, promotional efforts, and other elements of the retail mix within the category based on the firm's goals, the changing environment, and consumer behavior.

the individual who uses detailed knowledge of the consumer and consumer trends, detailed POS information, and specific analysis provided by each supplier to the category to create various store displays based on local market conditions