Koofers

chapter 13 - Flashcards

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Class:MKT 320F - FOUNDATIONS OF MARKETING
Subject:Marketing
University:University of Texas - Austin
Term:Fall 2011
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retailing

coverts all of the activities involved in the sale of products to final consumers.

Range from large chains of specialized stores to individual merchants.

Service Retailing- dry cleaning, fast food, tourist attractions—retailer is also the producer

general stores

which carried anything they could sell in reasonable volume; used to be the main retailers in the US 150 years ago. Died out after Civil War, stores begin to specialize.

Conventional retailers/Single-line or Limited-line stores

specialize in certain lines of related products rather than a wide assortment.

They can satisfy some target markets better.

Most adjust to suit a specific kind of customer.

Keep prices up, small stores

speciality stores

type of conventional limited line store- is usually small and has a distinct "personality"

Aim at carefully defined target market by offering a unique product assortment, knowledgeable salesclerks, and better service.

 

Catering to certain types of customers whom the management and sales people know well simplifies buying, speeds turnover, and cuts costs due to obsolete and style changes.

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department stores

larger stores that are organized into many separate departments and offer many product lines. Each department is like a separate limited line store and handles a wide variety of shopping product

super warehouse

carry more items than a super market- efficiently run, warehouse-like facilities can sell groceries at up to 25 percent less than a typical supermarket price.

Supermarkets

large stores specializing in groceries with self- service and wide assortments.

Basic idea came in the 1930s during the Great Depression.

Introduced self-service to cut costs; profits came from large volume sales, not from traditional high markups.

Net profits in supermarkets usually run a thin 1% or less.

discount houses

"hard goods" (cameras, TVs, appliances) at substantial price cuts to customers who would go to the discounters low rent store, pay cash, and take care of any service or repair problems themselves. Sold at 20-30 percent off the list price.

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mass merchandisers

large self-service stores with many departments that emphasize "soft goods" (housewares, clothing, and fabrics) and staples (like health and beauty aids) but still follow the discount house’s emphasis on lower margins to get faster turn over.

convience food stores

oriented variation of the conventional limited-line food stores. Instead of expanding their assortment, they limit their stock to pick up or fill in items like bread, milk, beer… many also sell gas.

Offer convenience and charge prices 10-20 percent higher than nearby supermarkets

retailing on the internet

Near unlimited assortment, wide variety of retailers

o

CONVENIENT

o

Delivery time is the only downfall, retailers try to overcome this disadvantage with faster/cheaper shipping

o

With just a click of a mouse, have access to product description and specifications, photos, videos, and reviews

o

Costs can be misleading- low prices, high shipping, other costs

o

Worry about online information/private information is being handled

wheel of retailing theory

theory

- new types of retailers enter the market at low-status, low margin, low price operators and then, if successful evolve into more conventional retailers offering more services with higher operating costs and higher prices

o

 

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Corporate chain-

a firm that owns and manages more than one store

cooperative chains

retailer-sponsored groups formed by independent retailers that run their own buying organizations and conduct joint promotion efforts

franchiser operations

franchiser develops a good marketing strategy and the retail franchise holders carry out the strategy in their own units

merchant wholesalers

-own (take title to) the products they sell

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wholesaling

concerned with the activities of those persons or establishments that sell to retailers and other merchants, or to industrial, institutional, and commercial users, but that do not sell in large amount to final consumers

Specialty wholesalers-

service wholesalers that carry a very narrow range of products that offer more information and service than other service wholesalers

General merchandise wholesalers

service wholesalers that carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmetics, and automobile equipment

Single-line (or general-line) wholesalers

service wholesalers that carry a narrower line of merchandise than general merchandise wholesalers

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rack jobbers

specialize in hard-to-handle assortment of products that retailer doesn't want to manage and rack jobbers usually display the products on their own wire racks

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 retailing

coverts all of the activities involved in the sale of products to final consumers.

Range from large chains of specialized stores to individual merchants.

Service Retailing- dry cleaning, fast food, tourist attractions—retailer is also the producer

 general stores

which carried anything they could sell in reasonable volume; used to be the main retailers in the US 150 years ago. Died out after Civil War, stores begin to specialize.

 Conventional retailers/Single-line or Limited-line stores

specialize in certain lines of related products rather than a wide assortment.

They can satisfy some target markets better.

Most adjust to suit a specific kind of customer.

Keep prices up, small stores

 speciality stores

type of conventional limited line store- is usually small and has a distinct "personality"

Aim at carefully defined target market by offering a unique product assortment, knowledgeable salesclerks, and better service.

 

Catering to certain types of customers whom the management and sales people know well simplifies buying, speeds turnover, and cuts costs due to obsolete and style changes.

 department stores

larger stores that are organized into many separate departments and offer many product lines. Each department is like a separate limited line store and handles a wide variety of shopping product

 super warehouse

carry more items than a super market- efficiently run, warehouse-like facilities can sell groceries at up to 25 percent less than a typical supermarket price.

 Supermarkets

large stores specializing in groceries with self- service and wide assortments.

Basic idea came in the 1930s during the Great Depression.

Introduced self-service to cut costs; profits came from large volume sales, not from traditional high markups.

Net profits in supermarkets usually run a thin 1% or less.

 discount houses

"hard goods" (cameras, TVs, appliances) at substantial price cuts to customers who would go to the discounters low rent store, pay cash, and take care of any service or repair problems themselves. Sold at 20-30 percent off the list price.

 mass merchandisers

large self-service stores with many departments that emphasize "soft goods" (housewares, clothing, and fabrics) and staples (like health and beauty aids) but still follow the discount house’s emphasis on lower margins to get faster turn over.

 convience food stores

oriented variation of the conventional limited-line food stores. Instead of expanding their assortment, they limit their stock to pick up or fill in items like bread, milk, beer… many also sell gas.

Offer convenience and charge prices 10-20 percent higher than nearby supermarkets

 retailing on the internet

Near unlimited assortment, wide variety of retailers

o

CONVENIENT

o

Delivery time is the only downfall, retailers try to overcome this disadvantage with faster/cheaper shipping

o

With just a click of a mouse, have access to product description and specifications, photos, videos, and reviews

o

Costs can be misleading- low prices, high shipping, other costs

o

Worry about online information/private information is being handled

 wheel of retailing theory

theory

- new types of retailers enter the market at low-status, low margin, low price operators and then, if successful evolve into more conventional retailers offering more services with higher operating costs and higher prices

o

 

 Corporate chain-

a firm that owns and manages more than one store

 cooperative chains

retailer-sponsored groups formed by independent retailers that run their own buying organizations and conduct joint promotion efforts

 franchiser operations

franchiser develops a good marketing strategy and the retail franchise holders carry out the strategy in their own units

 merchant wholesalers

-own (take title to) the products they sell

 wholesaling

concerned with the activities of those persons or establishments that sell to retailers and other merchants, or to industrial, institutional, and commercial users, but that do not sell in large amount to final consumers

 Specialty wholesalers-

service wholesalers that carry a very narrow range of products that offer more information and service than other service wholesalers

 General merchandise wholesalers

service wholesalers that carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmetics, and automobile equipment

 Single-line (or general-line) wholesalers

service wholesalers that carry a narrower line of merchandise than general merchandise wholesalers

 rack jobbers

specialize in hard-to-handle assortment of products that retailer doesn't want to manage and rack jobbers usually display the products on their own wire racks

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