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Retailing
all the activies directly related to the sale of goods and services to the ultimate consumer for personal, non business use.
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Role of Retailing (4)
- 1)significant part of the U.S. economy
- 2) its the last stage in a channel of distribution
- 3) they often create value
- 4) offers understanding career opportunities
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Major Typers of Retail Operations (7)
- 1) Dept. stores
- 2)Specialty stores
- 3)Supermarkets
- 4)Drugstores
- 5)Convenience stores
- 6)Discount stores
- 7)Restaurants
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Department Store
a store housing several departments under one roof
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Specialty Store
a retail store specializing in a given type of merchandise
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Supermarket
a large, departmentalized, self-service retailer that specializes in food and some nonfood items
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Drugstores
a retail store that stocks pharmacy-related products and services as its main draw
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Convenience Stores
miniature supermarket, carrying only a limited line of high turnover convenience goods
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Discount Stores
a retailer that competes on the basis of low prices, high turnover, and high volume
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Full line Discount Store
a retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded "hard goods"
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Specialty Discount Store
a retail store that combines groceries and general merchandise goods with a wide range of services
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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
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Off Price Retailer
a retailer that sells at prices 25% or more below traditional department store prices because it pays cash for its stock and usually doesnt ask for return privileges
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Automatic Vending
the use of machines to offer goods for sale
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Direct Retailing
the selling of products by representatives who work door to door, office to office, or at home sale parties
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Direct Marketing
techniques used to get consumers to make a purchase from their home, office, or another nonretail setting
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Electronic Retailing
a type of shopping available to consumers with personal computers and access to the internet
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Franchising
- a contractual agreement between a franchisor and a retail franchisee, which allows the franchisee to conduct business under an established name and according to a given pattern of business.
- -franchisee pays an initial fee and a monthly % of gross sales in exchange for the exclusive rights to sell goods and services in an area
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Atmosphere
- the overall impression conveyed by a store's physical layout, decor, and surroundings
- -colors, aromas, music, crowding
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