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Marketing Final
| Term | Definition |
|---|---|
| Retailing | All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use. |
| Types of ownership | 1. Independent Retailers 2. Corporate Chain 3.Contractual Systems |
| Independent Retailers | Locally owned by individuals (3 million in US). |
| Corporate Chain | Multiple outlets under common ownership (Dillards, Macy's, etc.) |
| Contractual Systems | Independent stores that work together to act as a chain. (Franchises- Fast food). |
| Self-Service | Customers perform functions (Redbox, Vending Machines, etc.) |
| Limited Service | Provides some service (Walmart, Target) |
| Full Service | Provides full service to customers (Nordstrom) |
| Merchandise Line | Describes how many different types of products a store carries and in what assortment. |
| Breadth of product line | The variety of different product item a store carries. |
| Depth of product line | A large assortment of one kind of product, example is shoe (Nike) or jewelry store. |
| Category Killer | A store that dominates a market, example is Staples with office supplies and Barnes and Noble for books. |
| Scrambled Merchandising | having many unrelated product lines in one store |
| Hyper marketing | a massive store that offers everything in one outlet, form of scrambled merchandising, do not exist in the us |
| Intertype Competition | competition is competition between dissimilar types of retail; example is flower shops competing with Walmart or Dillons |
| None-store retailing | Retailing without a store |
| Types of store locations | Central business district: oldest downtown area Regional shopping center: many stores with anchors Community shopping center: main store with small shops Strip mall: neighborhood stores Power center: large strip with anchors |