Mktg 15

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Mktg 15
2011-11-03 23:57:31

Chapter 15
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  1. Retailing
    all the activities directly related to the sale of g/s to the ultimate consumer for personal, nonbusiness use
  2. Independent Retailers
    retailers owned by a single person or partnership and not operated as part of a larger retail institution
  3. Chain Stores
    stores owned and operated as a group by a single organization
  4. Franchise
    the right to operate a bix or to sell a product
  5. How to Classify a Retail Establishment
    • ownership
    • level of service
    • product assortment
    • price
  6. Gross Margin
    the amount of money the retailer makes as a percentage of sales after the COGS is subtracted
  7. Department Stores
    • a store housing several departments under one roof
    • ex: Dillard's, Nordstrom, Macy's
  8. Buyer
    a dept head who selects the merchandise for his or her dept and may also be responsible for promotion and personnel
  9. Specialty Stores
    • a retail store specialiing in a given type of merchandise
    • offers more attentive customer service
    • ex: children's clothing, pet supplies, baked goods
  10. Supermarket
    large, departmentalized, self-service retailer that specializes in food and some nonfood items
  11. Scrambled Merchandising
    the tendency to offer a wide variety of nontraditional g/s under one roof
  12. Drugstore
    a retail store that stocks pharmacy-related products and services as its main draw
  13. Convenience Store
    • a miniature supermarket, carrying only a limited line of high-turnover convenience goods
    • prices are higher than supermarket due to convenience
  14. Discount Store
    a retailer that competes on the basis of low prices, high turnover, and high volume
  15. Categories of Discount Stores
    • Full-line Discounters
    • Specialty Discount Stores
    • Warehouse Clubs
    • Off-price Discount Retailers
  16. Full-line Discount Store
    • retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded "hard goods"
    • ex: Walmart
  17. Mass Merchandising
    a retailing strategy using moderate to low prices on large quantities of merchandise and lower levels of service to stimulate high turnover of products
  18. Supercenter
    a retail store that combines groceries and general merchandise goods with a wide range of services
  19. Specialty Discount Store
    a retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume and high turnover
  20. Category Killers
    • specialty discount stores that heavily dominate their narrow merchandise segment
    • ex: Best Buy in electronics, IKEA in furniture, etc
  21. Warehouse Membership Clubs
    limited-service merchant wholesalers that sell a limited selection of brand name appliances, household items, and groceries on a cash-and-carry basis to members, usually small businesses and groups
  22. Off-Price Retailer
    • a retailer that sells at prices 25% or more below traditional dept store prices because it pays cash for its stock and usually doesn't ask for return privileges
    • ex: Ross, TJ Maxx, etc
  23. Factory Outlet
    an off-price retailer that is owned and operated by a manufacturer
  24. Nonstore Retailing
    shopping without visiting a store
  25. Types of Nonstore Retailing
    • automatic vending
    • direct retailing
    • direct marketing
    • electronic retailing
  26. Automatic Vending
    the use of machines to offer goods for sale
  27. Direct Retailing
    the selling of products by representatives who work door-to-door, office-to-office or at home sales parties
  28. Direct Marketing (direct response marketing)
    techniques used to get consumers to make a purchase from their home, office, or other nonretail setting
  29. Online Retailing
    a type of shopping available to consumers with personal computers and access to the internet
  30. Franchisor
    the originator of a trade name, product, methods of operation, and so on that grants operating rights to another party to sell its product
  31. Franchisee
    an individual or biz that is granted the right to sell another party's product
  32. 2 Forms of Franchising
    • product & trade name - dealer agrees to sell certain products provided by a manufacturer or wholesaler
    • business format
  33. Retailing Mix
    combo of the six Ps - product, place, promotion, price, presentation & personnel - to sell g/s to the ultimate consumer
  34. Product Offering
    mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix
  35. Destination Stores
    stores that consumers purposely plan to visit
  36. Factors in Creating a Store's Atmosphere
    • employee type & density
    • merchandise type & density
    • fixture type & density
    • sound
    • odors
    • visual factors