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Stack #4667259
| Question | Answer |
|---|---|
| RETAILING | all activities involved in selling, renting, and providing product and services to ultimate consumers (personal use, family, household). |
| RETAILERS | important because they provide utilities to consumers and have a significant positive impact on the economy. |
| 4 UTILITIES ARE PROVIDED BY RETAILERS | time, place, form, and possession |
| RETAIL OUTLETS | form of ownership, level of service, and merchandise line |
| FORM OF OWNERSHIP | distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet. |
| LEVEL OF SERVICE | is the degree of service provided to the consumer from three types of retailers: self, limited, full-service |
| MERCHANDISE LINE | how many different types of products a store carries and in what assortment |
| BENEFITS PROVIDED BY RETAILERS | they have positive impact on the economy they provide value in the form of consumer utilities |
| SELF-SERVICE | customers perform functions ex: redbox |
| LIMITED SERVICE | provide some service |
| FULL SERVICE | provide full services to consumers ex: restaurant Nordstrom: shopping services, alternations, makeup and hair |
| DEPTH OF PRODUCT LINE | means that the store carriers a large assortment of each product line (deep and wide) |
| BREADTH OF PRODUCT LINE | variety of different product items in retail store: general merchandising and scrambling |
| SCRAMBLED MERCHANDISING | consists of offering several unrelated product lines in a single store. |
| HYPERMARKET | form of scrambling merchandising, offers everything in a single outlet, eliminating the need for consumers to shop at more than one location. Offers everything under one roof: supercenter |
| FORMS OF NON-STORE RETAILING | telemarketing, automatic vending, direct mail |
| INTERTYPE COMPETITION | when you have competition between dissimilar types of retail outlets that results from a scrambled merchandising policy : independent retailer competition against bigger company ex: flower shop competing with Dillions floral shop |
| NONSTORE RETALING | when retailing happens without a store: vending machine |
| TELEMARKETING | using telephone to sell used by 40% of businesses to reach customers |
| RETAILING MIX | related to managing stores, including retailing, store location, communication, merchandise. |
| OFF-PRICE RETAILING | consists of selling brand name merchandise at a lower than regular price. ex: dollar tree, 5 below |
| CENTRAL BUSINESS DISTRICT | oldest retail setting, usually located in the community's downtown area. |
| REGIONAL SHOPPING CENTER | consist of 50-150 stores, typically attract customers who live or work within a 5-10 mile range, often containing two or three anchor stores ex: oak park, crown center |
| COMMUNITY SHOPPING CENTERS | retail location that has one primary store and often 20 to 40 smaller outlets, serving a population of consumers who are within 10-20 minute drive ex: manhattan mall |
| STRIP MALL | is a retail location that consists of a cluster of neighborhood stores to serve people who are within a 5-10 minute drive |
| POWER CENTER | is the retail location that consists of huge shopping strip with multiple anchor stores |
| MULTICHANNEL RETAILING | utilize and interfere a combination of traditional stores format and non-store formats |
| SHOPPER MARKETING | goal is to influence behavior inside of the store, display, samples, coupons |
| CATEGORY MANAGEMENT | the buyer for the organization ex: Dillions has a manager who chooses what to buy for the store, adjust with markets |
| INTERACTIVE MARKETING | is an interactive, internet-enabled system that allows individual customers |
| CHOICE BOARD | you choose from a menu of products and service by answering a few questions and choosing them from a menu |
| COLLABORATING FILTER | is a process that automatically groups people with similar buying intentionally, reference, and behaviors and predicts future purchases |
| PERSONALIZATION | is the consumer initiated practice of generating content on a marketer's website that is custom tailored to an individuals specific needs and preferences |
| PERMISSION MARKETING | is the solicitation of a consumer's consent (opt-iin) to receive e-mail and ad based on personal data supplied by the consumer |
| CONTEXT CONTENT CUSTOMIZATION | appeal and functional look all digital information on website ability of site to modify for individual customers |
| CONNECTION COMMUNICATION COMMUNITY COMMERCE | linkage between other sites dialogue between site and consumer user-to user communications conduct sales transactions |
| EIGHT-SECOND RULE | Is the view that customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds. |
| CUSTOMERIZATION | practice to personalize the marketing and overall shopping and buying interaction for each customer. |
| DYNAMIC PRICING | is the practice of changing prices for products and real time in response to supply and demand conditions |
| COOKIES | are the computer files tat a marketer can download into the computer and mobile phone of an online shopper who visits the marketer's website |
| PROMOTIONAL MIX | combination of one or more communication tools used to: 1- inform prospective buyers about the benefits of the product, 2- persuade people to try it, 3- and remind them later about the benefits they enjoyed about using the product. - direct marketing - sa |
| INTEGRATED MARKETING COMMUNICATIONS | concept of designing marketing communications program that coordinate all promotional activities- ad, personal selling, sales, promotion, PR and direct marketing - to provide a consistent message across all audiences. |
| COMMUNICATION | process that requires six elements: source, message, channel, receiver, process of encoding and decoding |
| ADVERTISING | is any paid form of non-personal communication about an organization, product, service, or idea by an idenified sponsor |
| PERSONAL SELLING | two way flow of communication between a buyer and seller, often in a face to face encounter, design to influences a persona decision. |
| Publicity | non-personal, indirectly paid presentation of an organization product, or service |
| PUBLIC RELATIONS | communication management that seeks to influence the feelings, opinion or beliefs held by consumers, prospective customers, stockholders, suppliers, employees and other companies |
| SALES PROMOTION | short term inducement of value offered to arouse interest: |
| DIRECT MARKETING | promotions used for direct communication with con |
| ADVERTISING | is any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. - super bowl - paid or nonpersonal |
| PRODUCT ADVERTISEMENTS | are advertisements that focus on selling a product or service and which take three forms: 1- pioneering (informational), 2 competitive (persuasive), 3- reminder |
| INSTITUTIONAL ADVERTISEMENTS | are advertisements designed to build goodwill or an image for an organization rather than promote a specific product or service. |
| REACH | a number of different people or households exposed to ads |
| RATING | is the percentage of households in a market that are tuned to a particular tv or radio show |
| COST PER THOUSAND | refers to the cost of reaching 1,000 individuals or households with the ad message in a given medium |
| CONTINUOUS STEADY SCHEDULE | steady, seasons not important |
| FLIGHTING INTERMITTENT SCHEDULE | intermittent, reflects seasonal demand |
| PULSE BURST SCHEDULE | burst, flighting and continuous, new product |
| FULL SERVICE AGENCY | complete range of service -madmen |
| LIMITED-SERVICE AGENCIES | contract for creative work |
| IN HOUSE AGENCIES | company's own staff |
| IN-HOUSE AGENCIES | |
| PERSONAL SELLING | is the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
| SALES MANAGEMENT | consists of planning the selling program and implementing and evaluating the personal selling effort of the firm |
| RELATIONSHIP SELL | is the practice of building ties to customers based on a sales person's attention and commitment to customer needs over time. |
| ORDER GETTER | sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service. |
| PERSONAL SELLING PROCESS | consists of sales activities occurring before, during, and after the sale itself, consisting of six stages: 1 prospecting, 2 pre-approach, 3 approach 4 presentation 5 close and 6 follow-up |
| STIMULUS- RESPONSE PRESENTATION | is a sales presentation format that assumes that given the appropriate stimulus by a sales person, the prospect will buy. |
| FORMULA SELLING PRESENTATION | is a sales presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect. |
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