principles of marketing

  1. What is retailing?
    retailing describes the activities involoved in selling merchandise to ultimate consumer
  2. explain thw heel-of-retailing concept
    the wheel of retailing is the hypothesis that each new type of retailer gaines a competitive foothold by offering lower prices than current suppliers and maintains by reducing or eliminating services
  3. how does a retailer develop a marketing strategy?
    a retailer develops a marketing strategy based on its goals and stategic plans
  4. how to retailers select target markets?
    strategies for selecting target markets include merchanding, customer services, prices, location/distribution, and promotional strategies
  5. what is an SKU?
    an SKU or stock-keeping unit is a specific product offering within a product line
  6. what are the 2 components of a makeup?
    a markup consists of the products cost and an amount added by the retailer to determine its selling price
  7. what are store atmospherics?
    store atmospherics are phusical characteristics and amenities that attract customers and satisfy thier shopping needs
  8. how to we classify retailers by form of ownership?/
    there are 2 types of retailers by form of ownership: chain stores and independent retialers
  9. categorize retailers by shopping effort and by services provided
    convenience retailers and specialty retailers are classified by shopping effort, self-service, self-selection, and full-service describe retailers in terms of services provided
  10. list serval ways to classify retailers by product line
    retailers classified by product line include specialty stores, limited-line retailers, and general-merchandise retailers. general-merchandise include variety stores , department stores, and mass merchandisers
  11. what is a wholesaler? how does it differ from wholesaling intermadiary?
    a wholesaler is a channel intermedairy that takes title to goods it handles and then distributes these goods to retailers, other distributors, or b2b customers, a wholesaling internmedairy can be a hwolesaler, an agent,
  12. what is a wholesaler? how does it differ from a wholesaling internmedairy?
    a wholesaler is a channel internmediary that takes title to goods it handles and then distributes these goods to retailers, other distributors, or B2B customers. A wholesaling internmedairy can be a wholesaler, an egent, or a broker and perform wholesaling activites without taking title to the goods
  13. how do wholesaling intermedairies help sellers lower costs?
    wholesaling intermediaries lower the number of tansactions between manufactures and retail outlets, thus lowing distribution costs
  14. wat is the difference between a merchant wholesaler and a rack jobber?
    a merchant wholesaler takes title to the goods it handles. a rack jobber is a full-function merchant wholesaler that markets specialized lines of merchandis to retailers
  15. differentiate between agents and brokers
    agents and brokers may or may not take possession of the goods they handles but they never take title. brokers work maily to bring together buyers and sellers. a selling agent typically exerts full authority over pricing decisionns and promotional outlays and often provides assistance for the manufacturer
  16. what is direct marketing
    a distribution channel consisting of direct communication to a consumer or business recipient. it generaties orders and sales leads that may result in future orders
  17. that is direct mail?
    direct mail is a form of direct marketing that inclides sales letters, postcards, brochures, booklets, catalogs, house organs, and video- and audiocassettes
  18. describe internet-based retailers
    internet-based retailers sell directly to customers via virtual storefronts on the web. they usually maintain little or no invientory ordering directly from vendors to fill customers' orders
  19. explain how the internt has enhanced retailers' functions
    the internet has allowed retailers to enhance theri merchandising mix and thier customer service by, among other things, giving them access to much broader selections of goods. direct marketers have merged thier traditional catalog or direct-mail progress with an internet interface that allows for faster, more efficient, and more frequent contact with customers and prospects
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principles of marketing