Marketing an Introduction Chapter 11

Retailing
All activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
Retailer
A business whose sales come primarily from retaining
Specialty Store
A retail store that carries a narrow product line with a deep assortment within that line
Department Store
A retail organization that carries a wide variety of product lines- each line is operated as a separate department managed by specialist buyers or merchandisers
Supermarket
A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
Convenience Store
A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goodsq
Superstore
A store much larger than a regular supermarket that offers a large assortment of routinely purchased food, products, nonfood items, and services
Category Killer
A giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees
Service Retailer
A retailer whose product line is actually a service, including hotels, airlines, banks, colleges, and many others
Discount Store
A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume
Off-price Retailer
A retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs
Independent off-price retailer
An off-price retailer that is either independently owned and run or is a division of a larger retail corporation
Factory Outlet
An off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer’s surplus, discontinued, or irregular goods
Warehouse Club
An off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees
Chain Stores
Two or more outlets that are commonly owned and controlled
Franchise
A contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system
Shopping Center
A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
Wheel-of-retailing concept
A concept 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 activities
Merchant Wholesaler
An independently owned wholesaler 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 and assist in negotiation
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