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Princ. of Marketing
Kotler, Armstrong, Principles of Marketing 11th ed, Ch 13 vocab
| Question | Answer |
|---|---|
| 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 |
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cannons
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