Chapter 13: Retailing and Wholesaling

Terms in this set (43)

retailing
all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
retailer
a business whose sales come primarily from retailing
shopper marketing
focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale, whether during in-store, online, or mobile shopping
omni-channel retailing
creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping
specialty store
a retail store that carries a narrow product line with a deep assortment within that line
department store
a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers
supermarket
A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
convenience store
a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods
superstore
a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services
category killer
a giant specialty store that carries a very deep assortment of a particular line
service retailer
a retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others
discount store
a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume
off-price retailer
a retailer that buys at less-than-regular wholesale prices and sells at less than retail
Independent off-price retailer
an off-price retailer that is either independently owned and run or is a division of a larger retail corporation
factory outlet
an off-price retailer that is owned and operated by a manufacturer
corporate chains
two or more outlets that are commonly owned and controlled
franchise
a contractual agreement to use the name and sell the products or services of a company in a designated geographic area
voluntary chain
wholesaler-sponsored group of independent retailers engaged in group buying and merchandising
retailer cooperative
group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts
franchise organization
Contractual association between a franchisor (a manufacturer, wholesaler, or service organization) and franchisees (independent businesspeople who buy the right to own and operate one or more units in the franchise system).
shopping center
a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
showrooming
the shopping practice of coming into retail store showrooms to check out merchandise and prices but instead buying from an online-only rival, sometimes while in the store
wholesaling
all the activities involved in selling goods and services to those buying for resale or business use
wholesaler
a firm engaged primarily in wholesaling activities
merchant wholesaler
an independently owned wholesale business that takes title to the merchandise it handles
broker
a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
agent
a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods
Manufacturers' and retailers' branches and offices
wholesaling by sellers or buyers themselves rather than through independent wholesalers
full-service wholesalers
provide a full line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance
wholesale merchants
sell primarily to retailers and provide a full range of services
industrial distributors
sell to manufacturers rather than to retailers
limited-service wholesalers
offer fewer services than full-service wholesalers
cash-and-carry wholesalers
carry a limited line of fast-moving goods and sell to small retailers for cash
truck wholesalers (or truck jobbers)
Perform primarily a selling and delivery function. Carry a limited line of semiperishable merchandise (such as milk, bread, snack foods), which is sold for cash as deliveries are made to supermarkets, small groceries, hospitals, restaurants, factory cafeterias, and hotels.
drop shippers
do not carry inventory or handle the product
rack jobbers
serve grocery and drug retailers, mostly in nonfood items
producers' cooperatives
farmer-owned members that assemble farm produce for sale in local markets
mail-order or web wholesalers
Send catalogs to or maintain Web sites for retail, industrial, and institutional customers
selling agents
Have contractual authority to sell a manufacturer's entire output
purchasing agents
Generally have a long-term relationship with buyers and make purchases for them, often receiving, inspecting, warehousing, and shipping the merchandise to buyers. Purchasing agents help clients obtain the best goods and prices available
commission merchants
take physical possession of products and negotiate sales
sales branches and offices
Set up by manufacturers to improve inventory control, selling, and promotion. Sales branches carry inventory and are found in industries such as lumber and automotive equipment and parts. Sales offices do not carry inventory and are most prominent in the dry goods and notions industries.
purchasing offices
Perform a role similar to that of brokers or agents but are part of the buyer's organization
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