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