Marketing Chapter 13
Supermarket
: A large, low cost, low margin, high volume, self service store that carries a wide variety of grocery and household products
Department store
: A retail organization that carries a wide variety of product lines - each line is operated as a separate department managed by specialist buyers or merchandisers
Service retailer
: A retailer whose product line is actually a service, including hotels, airlines, banks, universities, and many others
Superstore
: A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services
Retailer
A business whose sales come primarily from retailing
Wheel of retailing concept
A concept that states that new types of retailers usually begin as low margin, low price, low status operations but later evolve into higher priced, higher service operations, eventually becoming like the conventional retailers they replaces
Franchise
A contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent business people (franchisees) who buy the right to own and operate one or more unites in the franchise system
Wholesaler
A firm engaged primarily in wholesaling activities
Category killer
A giant specialty store that carries a very deep assortment of a particular line and is staged by knowledgeable employees
Shopping Centre
A group of retail businesses planned, developed, owned, and managed as a unit
Discount store
A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling a higher volume
Specialty store
A retail store that carries a narrow product line with a deep assortment within that line
Off-price retailer
A retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs
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
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 relatively permanent basis, performs only a few functions, and does not take title to goods
Wholesaling
All activities involved in selling goods and services to those buying for resale or business use
Retailing
All activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
Merchant wholesaler
An independently owned business that takes title to the merchandise it handles
Independent off-price retailer
An off price retailer that is either independently owned and run or is a division of a larger retail corporation
Factory Outlet
An off price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods
Warehouse Club
An off-price retailer that sells a limited selection of brand name grocery items, appliance, clothing, and a hodgepodge of other goods at deep discounts to member who pay annual membership fees
Chain stores
Two or more outlets that are commonly owned and controlled
Manufacturers' sales branches and offices
Wholesaling by sellers or buyers themselves rather than through independent wholesalers