Retailing
- Consists of all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use
Form of Ownership
- Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet
Level of Service
- Is the degree of service provided to the customer from 3 types of retailers: self, limited, and full-service
Merchandise Line
-Describes how many different types of products a store carries and in what assortment
Depth of Product Line
- Means that the store carries a large assortment of each product item
Breadth of Product Line
- Describes the variety of different product item a store carries
Scrambled Merchandising
- Consists of offering several unrelated product lines in a single store
Hypermarket
- A form of scrambled merchandising, which consists of a large store that offers consumers everything in a single outlet, eliminating the need for consumers to shop at more than one location
Inter type Competition
- Consists of competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy
Telemarketing
- Consists of using the telephone to interact with and sell directly to consumers
Retail Positioning Matrix
- Is a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige
Retailing Mix
Consists of the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise
Off-Price Retailing
- Consists of selling brand-name merchandise at lower than regular prices
Central Business District
- Is the oldest retail setting, usually located in the community’s downtown area
Regional Shopping Centers
- Consist of 50 to 150 stores that typically attract customers who live or work within a 5 to 10 mile range, often containing two or three anchor stores
Community Shopping Center
- A retail location that typically has one primary store and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10 to 20 min drive
Strip Mall
- Consists of a cluster of neighborhood stores to serve people who are within a 5 to 10 minute drive
Power Center
- A huge shopping strip with multiple anchor stores
Shopper Marketing
- The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store
Category Management
- An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other
Wheel of Retailing
- A Concept that describes how new forms of retail outlets enter the market
Retail Life Cycle
- A process of growth and decline that retail outlets, like products, experience.
1. Early Growth
2. Accelerated Development
3. Maturity
4. Decline Stages
Multi channel Retailers
- Are retailers that utilize and integrate a combination of traditional store formats and non store formats such as catalogs, television home shopping, and online retailing
Merchant Wholesalers
- Are independently owned firms that take to the merchandise they handle
Manufacturer’s Agents
- Are agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
- Also called manufacturer’s representatives
Brokers
- Are independent firms or individuals whose principal function is to bring buyers and sellers together to make sales