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  1. Basic format or structure of a business. Institutions can be classified by
    ownership, store-based retail strategy mix, and nonstore-based, electronic, and
    nontraditional retailing. (p. 102)
    retail institution
  2. Retailer that owns one retail unit. (p. 103)
  3. Occurs due to low capital requirements and no, or relatively simple, licensing
    provisions. (p. 103)
    ease of entry
  4. Retailer that operates multiple outlets (store units) under common ownership. It
    usually engages in some level of centralized (or coordinated) purchasing and
    decision making. (p. 106)
  5. Contractual arrangement between a franchisor (a manufacturer, a wholesaler, or a
    service sponsor) and a retail franchisee, which allows the franchisee to conduct
    a given form of business under an established name and according to a given
    pattern of business. (p. 108)
  6. Arrangement in which the franchisee acquires the identity of the franchisor by
    agreeing to sell the latter's products and/or operate under the latter's name.
    (p. 108)
    product/trademark franchising
  7. Arrangement in which the franchisee receives assistance in site location,
    quality control, accounting, startup practices, management training, and
    responding to problems—besides the right to sell goods and services. (p. 108)
    business format franchising
  8. Limits franchisee involvement in the strategic planning process. (p. 110)
    constrained decision making
  9. Site in a retail store—usually a department, discount, or specialty store—that
    is rented to an outside party. (p. 111)
    leased department
  10. All the levels of independently owned businesses along a channel of
    distribution. Goods and services are normally distributed through one of three
    types of systems: independent, partially integrated, and fully integrated. (p.
    vertical marketing system
  11. Involves firms engaged in more than one type of distribution arrangement. This
    enables those firms to appeal to different consumers, increase sales, share some
    costs, and maintain a good degree of strategic control. (p. 113)
    dual marketing
  12. Occurs when one member of a distribution channel can dominate the decisions made
    in that channel by the power it possesses. (p. 113)
    channel control
  13. Retail firm owned by its customer members. A group of consumers invests in the
    company, elects officers, manages operations, and shares the profits or savings
    that accrue. (p. 114)
    consumer cooperative
Card Set:
2011-11-20 16:30:45
Retail Management

Chapter 4: Retail Institutions by Ownership
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