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Princ. of Marketing

Kotler, Armstrong, Principles of Marketing 11th ed, Ch 13 vocab

Retailing All activities involved in selling goods or services directly to final consumers for their personal, non-business use
Retailer A business whose sales come primarily from retailing
Specialty stores carry a narrow product line with a deep assortment
Specialty stores apparel stores, sporting-goods stores, furniture stores, florists, and bookstores
Department stores carry several product lines—typically clothing, home furnishings, and household goods—with each line operated as a separate department managed by specialist buyers or merchandisers
Department stores Sears, Macy’s, Marshall Field’s
Supermarkets A relatively large, low-cost, low margin, high volume, self-service operation designed to serve the consumer’s total need for food and household products
Supermarkets Kroger, Vons, A&P, Food Lion
Convenience stores Relatively small stores located near residential areas, open long hours seven days a week, and carrying a limited number of high turnover convenience products at slightly higher prices
Convenience stores 7-Eleven, Stop-N-Go, Circle K
Off-price retailers Sell merchandise bought at less-than-regular wholesale prices and sold at less than retail: often leftover goods, overruns, and irregulars obtained at reduced prices from manufacturers or other retailers
Off-price retailers discount stores, factory outlets, warehouse clubs, Mikasa, TJ Maxx, Costco, Sam’s, BJ’s Wholesale Club
Superstores Very large stores traditionally aimed at meeting consumers’ total needs for routinely purchased food and nonfood items—include category killers, supercenters, and hypermarkets
Category killer a superstore that carries a deep assortment in a particular category and has a knowledgeable staff, like Circuit City, Petsmart, Staples, Barnes and Noble
Supercenter a combined supermarket and discount store—Wal-Mart Supercenters, SuperTarget, Super Kmart Center
Hypermarket an extremely large store that combines supermarket, discount, and warehouse retailing—Carrefour in France, Pyrca in Spain
Chain stores two or more outlets that are owned and controlled in common, have central buying and merchandising, and sell similar lines of merchandise
Franchise organizations Contractual association between a franchiser (manufacturer, wholesaler, or service organization) and franchisees (independent business people who buy the right to own and operate one or more units in the franchise system)
Shopping center A group of retail businesses planned, developed, owned, and managed as a unit
Wheel-of-retailing concept a concept of retailing that states that new types of retailers usually begin as low-margin, low-price, low-status operations but later evolve into higher-priced, higher-service operations, eventually becoming like the conventional retailers they replaced
Wholesaling All activities involved in selling goods and services to those buying for resale or business use
Wholesaler A firm engaged primarily in wholesaling activity
Merchant wholesaler Independently owned 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
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’ sales branches and offices Wholesaling by sellers or buyers themselves rather than through independent wholesalers
Created by: cannons on 2010-09-27

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