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