What is retailing? |
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Activities involved in selling goods/services directly to final consumer for their personal, non business use. |
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What is a retailer? |
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A business whose sales comes primarily from retailing. |
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What is a Specialty Store? |
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Retail store that carries a narrow product line with deep assortment within that line. |
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What is a Department Store? |
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Retail organization that carries a wide variety of product lines, each line is operated as separate department managed by specialist buyers. |
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What is a Supermarket? |
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Large, low-cost, low-margin, high-volume sel-service store that carries a wide variety of food/household |
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What is a Convenience Store? |
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Small store, located near a residential area, that is open long hours, 7 days/week, carries limited line of high turnover convenience goods. |
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What is a Superstore? |
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Store much larger than regular supermarket that offers large assortment. |
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What is a Category Killer? |
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Giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees. |
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What is a Discount Store? |
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Retail operation that sells standard merchandise at lower prices by accepting lower margins and selling higher volume. |
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What is a Off-Price Retailer? |
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Retailer that buys at less-than-regular wholesale priaces and sells at less than retail. Example (factory outlets) |
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What is a Independent Off-Price Retailer? |
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Off-price retailer that is either owned and run by entrepreneurs or is a division of a larger retail corporation. |
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What is a Factory Outlet? |
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Off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's suplus, irregular goods. |
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What is a Warehouse Club? |
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Off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, at deep discounts to members (Sams Club) |
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What are Chain Stores? |
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2+ outlets that are commonly owned at controlled. |
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What is a Franchise? |
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Contractual association between a manufacturer, wholesaler, or service org. who buy the right to own and operate 1+ unites in franchise system. |
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What is a Shopping Center? |
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Group of retail businesses, planned, developed, owned and managed as a unit. |
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What is the Wheel-of-Retailing concept? |
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Concept of retailing, new retailers begin as low-margin, low price, low status operations, but later evolve to high priced, higher service operations. |
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What is wholesaling? |
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All activities involved in selling goods/services to those buying for resale or business use. |
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What is a wholesaler? |
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A firm engaged primarily in wholesaling activities. |
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What is a Merchant Wholesaler? |
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Independently owned business that takes title to the merchandise it handles. |
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What is a Broker? |
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wholesaler who does not take title to good and whose function is to bring buyers and sellers together & assist in negotiation. |
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What is an Agent? |
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wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions and does not take title to goods. |
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What is a Manufacturer's sales branches and offices? |
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Wholesaling by sellers or buyers themselves rather than thought independent wholesalers. |
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