Mrkt 340 - Chapter 11

Retailer

A business whose sales come primarily from retailing

Shopping Center

A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit

Convenience Store

A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods

Retailing

All the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use

Merchant Wholesaler

An independently owned wholesale business that takes title to the merchandise it handles

Webrooming

Consumers first check out merchandise online, then buy it in a store

Shopper Marketing

Focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale, whether during in-store, online, or mobile shopping

Pop-Up Stores

Limited time stores that let many retailers promote their brands to seasonal shoppers and create buzz in busy areas

Manufacturers' Agents (Manufacturers' Representative)

Most common type of agent wholesalers

Manufacturers' and Retailers' Branches and Offices

Wholesaling by sellers or buyers themselves rather than through independent wholesalers

Voluntary Chain

A wholesaler sponsored group of independent retailers that engages in group buying and common merchandising

Full-Service Retailers

Assets customers in every phase of the shopping process. Much higher operating costs. (Tiffany's or Nordstrom)

Full-Service Wholesalers

Provide a full set of services

Self-Service Retailers

Serve customers who are willing to perform their own locate-compare-select process to save time or money. Basis of all discount operations (convenience goods).

Franchise

A contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system

Wholesaler

A firm engaged primarily in wholesaling activities

Category Killer

A giant speciality store that carries a very deep assortment of a particular line

Retailer Cooperative

A group of independent retailers that bands together to set up a jointly owned, central wholesale operation and conduct joint merchandising and promotion efforts.

Supermarket

A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products

Specialty Store

A retail store that carries a narrow product line with a deep assortment within that line

Department Store

A retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers

Off-Price Retailer

A retailer that buys at less-than-regular wholesale prices and sells at less than retail

Service Retailer

A retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others

Superstore

A store much large than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services

Broker

A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation

Agent

A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to good

Wholesaling

All the activities involved in selling goods and services to those buying for resale or business use

Independent Off-Price Retailer

An off-price retailer that is independently owned and operated or a division of a larger retail corporation

Warehouse Club

An off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees

Factory Outlet

An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods

Retail Convergence

Greater competition for retailers and greater difficulty in differentiating the product assortments of different types of retailers

Omni-Channel Retailing

Integrating store and online channels into a single shopper experience

Limited-Service Wholesalers

Offer fewer services to their suppliers and customers

Flash Sales

Online and mobile sites host time-limited sales events on top fashion and lifestyle brands

Limited-Service Retailers

Provide more sales assistance because they carry more shopping goods about with customer need information. Higher prices than self-service retailers (Target or Kohls)

Showrooming

The shopping practice of coming into retail store showrooms to check out merchandise and prices but instead buying from an online-only rival, sometimes while in the store

Corporate Chains

Two or more outlets that are commonly owned or controlled