Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales.
Breadth of Product Line
The variety of different product items a store carries.
An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category.
Central Business District
The oldest retail setting, usually located in the community’s downtown area.
Community Shopping Center
A retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20-minute drive.
Depth of Product Line
The store carries a large assortment of each product item.
Form of Ownership
Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
A form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers every-thing in a single outlet, eliminating the need for consumers to shop at more than one location.
Competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy.
Level of Service
The degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.
Agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory. Also called manufacturer’s representatives.
Describes how many different types of products a store carries and in what assortment.
Independently owned firms that take title to the merchandise they handle.
Retailers that utilize and integrate a combination of traditional store formats and non-store formats such as catalogs, television, home shopping, and online retailing.
Selling brand-name merchandise at lower than regular prices.
A huge shopping strip with multiple anchor (or national) stores.
Regional Shopping Centers
Consist of 50 to 150 stores that typically attract customers who live or work within a 5- to 10-mile range, often containing two or three anchor stores.
Retail Life Cycle
The process of growth and decline that retail out-lets, like products, experience. Consists of the early growth, accelerated development, maturity, and decline stages.
Retail Positioning Matrix
A matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige.
All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use.
The activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.
Offering several unrelated product lines in a single store.
The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store.
A cluster of neighborhood stores to serve people who are within a 5- to 10-minute drive.
Using the telephone to interact with and sell directly to consumers.
Wheel of Retailing
A concept that describes how new forms of retail outlets enter the market.