Upgrade to remove ads
Only $2.99/month

3810 MKTG Ch. 11

Terms in this set (35)

Superstores
which type of retail store is most similar to hypermarket
category killer
which type of superstore is actually a giant specialty store
service
___ retailers in the US are growing faster than product retailers
discount stores
___ sell standard merchandise at lower prices by accepting lower margins and selling higher volume
discount stores
The early ___ cut expenses by offering few services and operating in warehouse-like facilities in low rent, heavily traveled districts
off-price retailers
have filled the low-priced, high volume gap by buying at less than regular wholesale prices and charging consumers less than retail
category killers
Which of the following is NOT one of the main types of off-price retailers?
independent off-price retailers
____, which buy at less than regular wholesale prices and charge consumers less than retail, are owned and run by entrepreneurs or are division of larger retail corp
factory outlets
___ are sometimes several stores grouped together. These stores offer prices as low as 50% below retail on a wide range of mostly surplus, discounted, or irregular items
factory outlets
Manufacturers send last year's merchandise and seconds to ___, while they send new merchandise to department stores.
warehouse clubs
___ operate in warehouse-like facilities, sell limited selection of items, and offer few frills. Customers pay annual membership fees and are able to purchase goods at deep discounts.
chain stores
____ are 2 or more outlets that are commonly owned and controlled
franchise
the main difference btwn ___ organization and other contractual systems is that these systems are normally based on some unique product or service
conglomerates
Merchandising ___ are corporations that combine several diff retailing forms under central ownership
national-brand manufacturers have placed their products almost everywhere
Retail assortment are looking more and more alike b/c ____
define; profile
Until retailers ____ and ____ their markets, they cannot make consistent decisions about product assortment, services, pricing, advertising, store decor, or any of the other decisions that must support their positions
eroded
service differentiation among retailers has ___
define
too many retailers fail b/c they try to have "something for everyone" and end up satisfying no market well. Successful retailer __ their target markets well and position themselves strongly.
product assortment
a retailer's ___ should differentiate the retailer while matching target shoppers' expectation. One strategy is to offer merchandise that no other competitor carries.
experiential retailing
a store that uses ____ creates realistic environments in which customers can try products before they buy them. (ex. sephora)
high volume; high markups
All retailers would like to achieve ___ while charging __, but the 2 seldom happen together
sales promotions
____may include in-store demonstrations, displays, contests, and visiting celebrities
public relations
press conferences and speeches, store openings, special events, newsletters, magazines, and public service activities are examples of ways that retailers use____
location
According to many retailers, what is the most important factor in retailing success?
to increase their customer pulling power
Why do most stores cluster together?
central business districts
___were the main form of retail until the 1950s
shopping center
A __ is a group of retail businesses planned, developed, owned and managed as a unit
regional shopping center
A ___ contains from 40 to 200 stores, is like a covered mini-downtown, and attracts customers from a wide area (ex. destin commons)
community shopping center
A ___ contains between 15 and 40 retail stores, typically including a branch of a department store or variety store, a supermarket, specialty stores, professional offices, and sometimes a bank (ex. tiger town)
strip malls
most shopping centers are ___ that generally contain btwn 5 and 15 stores and are close and convenient for consumers (ex. panera, earth fare)
power centers
Today's trends in retail clusters is toward __, hug unenclosed shopping centers consisting of long strip of retail stores, including large, freestanding anchors such as Wal-Mart. Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store
lifestyle center
a __ is a smaller mall with upscale stores, convenient locations, and expensive atmosphere. It is typically located near affluent residential neighborhoods (ex. bham summit)
Price Club
what was the 1st warehouse store chain?
wheel-of-retailing
According to the ___ concept, new retailing forms often begin as low-margin, low-price, low-status operations to challenge established retails, then become successful, and eventuall take the place of the est. retailers they had challenged.
nonstore retailing
mail order, tv, phone, and online shopping are all examples of ____
THIS SET IS OFTEN IN FOLDERS WITH...