| Term | Definition |
|---|
| Retailing | All the activities directly related to the sale of goods and services to the ultimate consumer for personal, non business use |
| independent retailers | Retailers owned by a single person or partnership and not operated as part of a larger retail institution |
| chain stores | Stores owned and operated as a group by a single organization |
| franchise | The right to operate a business or to sell a product |
| gross margin | Amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted |
| department store | A store housing several departments under one roof |
| buyer | A department head who selects the merchandis for his or her department and may also be responsible for promotion and personnel |
| specialty store | Retail store specializing in a given type of merchandise |
| supermarket | Large, departmentalized self-service retialer that specializes in food and some nonfood items |
| scrambled merchandise | Tendency to offer a wide variety of nontraditional goods and services under one roof |
| drugstore | Retail store that stocks pharmacy-related products and services as its main draw |
| convenience store | Miniature supermarket caryying limited line of hih turnover convenince goods |
| discount store | Retailer that competes on the basis oflow prices, high turnover and high volume |
| full line discount store | Retailer that offers consumers very limted service and carries a broad assortment of well-known, nationally branded hard goods |
| mass merchandising | Retailing strategy using moderate to low prices on large quantitites of merchandise and lower service to stimulate high tunrover of products |
| supercenter | Retail store that combines groceries and general merchandise goods with a wide range of services |
| category killers | Specialty discount stores that havily dominate their narrow merchandise segment |
| specialty discount store | Retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume and high turnover |
| off-price retailer | Retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for stock |
| factory outlet | Off-price retialer that isowned and operated by a manufacturer |
| nonstore retailing | Shopping without visiting a store |
| automatic vending | Use of machines to offer goods for sale |
| direct retialing | selling of products by representatives who work door-to-door, office to office or at home parties |
| direct marketing | Techniques used to get consumers to make a purchase from their home office or another nonretail setting |
| telemarketing | The use of the telephone to sell directly to consumers |
| online retailing | A type of shopping available to consumers with access to the internet |
| fanchisor | originator of a trade name, product, methods of operation that grants operating rights to another party to sell its product |
| franchisee | Individual or business that is granted the right to sell another party's product |
| retailing mix | Combination of the six Ps (product, place, promotion, price, presentation and personnel) to sell goods and servies to the ultimate consumer |
| product offering | The mix of products offered tothe consumer by the retailer. Also called the product assortment or merchandise mix |
| destination stores | Stores that consumers purposely plan to visit |
| atmosphere | Overall impression coveyed by a store's physical layout, decor and surroundings |
Combine with other sets
Share on Facebook
Share on MySpace