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marketing 15
| Question | Answer |
|---|---|
| retailing | the set of business activities that add value to products sold to consumers for their personal or family use; includes products bought at stores, through catalogs, and over the internet, as well as services like fast food restaurants, airlines, and hotels |
| multichannel strategy | selling in more than one channel (e.g., stores, internet, catalog) |
| distribution intensity | the number of supply chain members to use at each level of the supply chain |
| intensive distribution | a strategy designed to get products into as many outlets as possible |
| exclusive distribution | strategy in which only selected retailers can sell a manufacturers brand |
| selective distribution | lies between the intensive and exclusive distribution strategies; uses a few selected customers in a territory |
| conventional supermarket | type of retailer that offers groceries, meat, and produce with limited sales of nonfood items, such as health and beauty aids and general merchandise, in a self-service format |
| stock keeping units (SKUs) | individual items within each product category; the smallest unit available for inventory control |
| limited assortment supermarket | retailers that offer only one or two brands or sizes of most products (usually including a store brand) and attempt to achieve great efficiency to lower costs and prices |
| supercenters | large stores combining full-time discount stores with supermarkets in one place |
| warehouse clubs | large retailers with an irregular assortment, low service levels, and low prices that often require membership for shoppers |
| convenience stores | type of retailer that provides a limited number of items at a convenient location in a small store with speedy check-out |
| department stores | a retailers that carries many different types of merchandise (broad variety) and lots of items within each type (deep assortment); offers some customer service; and is organized into separate department to display its merchandise |
| full-line discount stores | retailers that offer low prices, limited service, and a broad variety of merchandise |
| specialty stores | a type of retailer that concentrates on a limited number of complementary merchandise categories in a relatively small store |
| drugstores | a specialty store that concentrates on health and personal grooming merchandise, though pharmaceuticals may represent more than 60 percent of its sales |
| category specialists | a retailer that offers a narrow variety but a deep assortment of merchandise |
| big box retailers | discount stores that offer a narrow but deep assortment of merchandise |
| category killers | a specialist that offers an extensive assortment in a particular category, so overwhelming the category that other retailers have difficulty competing |
| home improvement center | category specialist that offers home improvement tools for contractors and do-it-yourselfers |
| extreme value retailers | a general merchandise discount store found in lower-income urban or rural areas |
| off-price retailers | a type of retailer that offers an inconsistent assortment of merchandise at relatively low prices |
| close-out retailers | stores that offer an inconsistent assortment of low priced brand name merchandise |
| irregulars | merchandise with minor construction errors |
| outlet stores | off-price retailers that often stock irregulars,out-of-season merchandise, or overstocks from the parent company |
| factory outlets | outlet stores owned by manufacturers |
| services retailers | a firm that primarily sells services rather than merchandise |
| mobile commerce (M-commerce) | communicating with or selling to consumers through wireless devices such as cell phones |
| share of wallet | the percentage of the customer's purchases made from a particular retailer |
| online chat | instand messaging or voice conversation with an online sales representative |
| cookie | computer program, installed on hard drives, that provides identifying information |
| cannibalization | customers who formerly made purchases through one retail channel switch to a different retail channel without increasing the overall sales to the retailer |
| opt in | the option giving the consumer complete control over the collection and dissemination of his/her personal information, usually referred to in an internet setting |
| opt out | the option whereby consumer must actively choose to prevent personal information from being used or shared with third parties, usually referred to in an internet setting |
Created by:
martin.2021