Test 4 Ch 16 Flashcards Preview

Marketing > Test 4 Ch 16 > Flashcards

Flashcards in Test 4 Ch 16 Deck (26)
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1
Q

Retailing

A
  • Consists of all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use
2
Q

Form of Ownership

A
  • Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet
3
Q

Level of Service

A
  • Is the degree of service provided to the customer from 3 types of retailers: self, limited, and full-service
4
Q

Merchandise Line

A

-Describes how many different types of products a store carries and in what assortment

5
Q

Depth of Product Line

A
  • Means that the store carries a large assortment of each product item
6
Q

Breadth of Product Line

A
  • Describes the variety of different product item a store carries
7
Q

Scrambled Merchandising

A
  • Consists of offering several unrelated product lines in a single store
8
Q

Hypermarket

A
  • 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
9
Q

Inter type Competition

A
  • Consists of competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy
10
Q

Telemarketing

A
  • Consists of using the telephone to interact with and sell directly to consumers
11
Q

Retail Positioning Matrix

A
  • Is a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige
12
Q

Retailing Mix

A

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

13
Q

Off-Price Retailing

A
  • Consists of selling brand-name merchandise at lower than regular prices
14
Q

Central Business District

A
  • Is the oldest retail setting, usually located in the community’s downtown area
15
Q

Regional Shopping Centers

A
  • 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
16
Q

Community Shopping Center

A
  • 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
17
Q

Strip Mall

A
  • Consists of a cluster of neighborhood stores to serve people who are within a 5 to 10 minute drive
18
Q

Power Center

A
  • A huge shopping strip with multiple anchor stores
19
Q

Shopper Marketing

A
  • The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store
20
Q

Category Management

A
  • 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
21
Q

Wheel of Retailing

A
  • A Concept that describes how new forms of retail outlets enter the market
22
Q

Retail Life Cycle

A
  • A process of growth and decline that retail outlets, like products, experience.
    1. Early Growth
    2. Accelerated Development
    3. Maturity
    4. Decline Stages
23
Q

Multi channel Retailers

A
  • 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
24
Q

Merchant Wholesalers

A
  • Are independently owned firms that take to the merchandise they handle
25
Q

Manufacturer’s Agents

A
  • Are agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
  • Also called manufacturer’s representatives
26
Q

Brokers

A
  • Are independent firms or individuals whose principal function is to bring buyers and sellers together to make sales