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2011-11-20 10:58:33
Retail Management

Chapter 1: An Introduction to Retailing
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  1. Business activities involved in selling goods and services to consumers for
    their personal, family, or household use. (p. 4)
  2. All of the businesses and people involved in the physical movement and transfer
    of ownership of goods and services from producer to consumer. (p. 7)
    channel of distribution
  3. Involves the retailer's collecting an assortment of goods and services from
    various sources, buying them in large quantity, and offering to sell them in
    small quantities to consumers. (p. 8)
    sorting process
  4. A distribution approach whereby a retailer sells to consumers through multiple
    retail formats (points of contact). (pp. 8, 148)
    multi-channel retailing
  5. Takes place when suppliers enter agreements with one or a few retailers to
    designate the latter as the only firms in specified geographic areas to carry
    certain brands or product lines. (p. 10)
    exclusive distribution
  6. Takes place when suppliers sell through as many retailers as possible. This
    often maximizes suppliers' sales and lets retailers offer many brands and
    product versions. (p. 10)
    intensive distribution
  7. Takes place when suppliers sell through a moderate number of retailers. This
    lets suppliers have higher sales than in exclusive distribution and lets
    retailers carry some competing brands. (p. 10)
    selective distribution
  8. Overall plan guiding a retail firm. It influences the firm's business activities
    and its response to market forces, such as competition and the economy. (pp.12,
    retail strategy
  9. An approach to business that is customer-oriented, coordinated, value-driven,
    and goal-oriented. (p.14)
    retailing concept
  10. All the elements in a retail offering that encourage or inhibit consumers during
    their contact with a retailer. (p. 15)
    total retail experience
  11. Identifiable, but sometimes intangible, activities undertaken by a retailer in
    conjunction with the basic goods and services it sells. (p. 16)
    customer service
  12. Exists when retailers seek to establish and maintain long-term bonds with
    customers, rather than act as if each sales transaction is a completely new
    encounter with them. (p. 18)
    relationship retailing