SM Retail Operations
SM Retail Operations
Chapter 13
Chapter 13
Terms
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- independent retailers
- Retailers owned by a single person or partnership and not operated as part of a larger retail institution
- Retailing
- All the activities directly related to the sale of goods and services to the ultimate consumer for personal, non business use
- buyer
- A department head who selects the merchandis for his or her department and may also be responsible for promotion and personnel
- telemarketing
- The use of the telephone to sell directly to consumers
- 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
- category killers
- Specialty discount stores that havily dominate their narrow merchandise segment
- mass merchandising
- Retailing strategy using moderate to low prices on large quantitites of merchandise and lower service to stimulate high tunrover of products
- specialty store
- Retail store specializing in a given type of merchandise
- discount store
- Retailer that competes on the basis oflow prices, high turnover and high volume
- destination stores
- Stores that consumers purposely plan to visit
- direct marketing
- Techniques used to get consumers to make a purchase from their home office or another nonretail setting
- product offering
- The mix of products offered tothe consumer by the retailer. Also called the product assortment or merchandise mix
- factory outlet
- Off-price retialer that isowned and operated by a manufacturer
- department store
- A store housing several departments under one roof
- off-price retailer
- Retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for stock
- full line discount store
- Retailer that offers consumers very limted service and carries a broad assortment of well-known, nationally branded hard goods
- automatic vending
- Use of machines to offer goods for sale
- online retailing
- A type of shopping available to consumers with access to the internet
- 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
- chain stores
- Stores owned and operated as a group by a single organization
- direct retialing
- selling of products by representatives who work door-to-door, office to office or at home parties
- retailing mix
- Combination of the six Ps (product, place, promotion, price, presentation and personnel) to sell goods and servies to the ultimate consumer
- supercenter
- Retail store that combines groceries and general merchandise goods with a wide range of services
- fanchisor
- originator of a trade name, product, methods of operation that grants operating rights to another party to sell its product
- nonstore retailing
- Shopping without visiting a store
- franchisee
- Individual or business that is granted the right to sell another party's product
- atmosphere
- Overall impression coveyed by a store's physical layout, decor and surroundings
- 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
- 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