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Related Flashcards
Related Topics
Cards In This Set
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What is retailing?
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Activities involved in selling goods/services directly to final consumer for their personal, non business use.
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What is a retailer?
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A business whose sales comes primarily from retailing.
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What is a Specialty Store?
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Retail store that carries a narrow product line with deep assortment within that line.
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What is a Department Store?
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Retail organization that carries a wide variety of product lines, each line is operated as separate department managed by specialist buyers.
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What is a Supermarket?
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Large, low-cost, low-margin, high-volume sel-service store that carries a wide variety of food/household
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What is a Convenience Store?
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Small store, located near a residential area, that is open long hours, 7 days/week, carries limited line of high turnover convenience goods.
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What is a Superstore?
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Store much larger than regular supermarket that offers large assortment.
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What is a Category Killer?
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Giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees.
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What is a Discount Store?
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Retail operation that sells standard merchandise at lower prices by accepting lower margins and selling higher volume.
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What is a Off-Price Retailer?
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Retailer that buys at less-than-regular wholesale priaces and sells at less than retail. Example (factory outlets)
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What is a Independent Off-Price Retailer?
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Off-price retailer that is either owned and run by entrepreneurs or is a division of a larger retail corporation.
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What is a Factory Outlet?
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Off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's suplus, irregular goods.
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What is a Warehouse Club?
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Off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, at deep discounts to members (Sams Club)
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What are Chain Stores?
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2+ outlets that are commonly owned at controlled.
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What is a Franchise?
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Contractual association between a manufacturer, wholesaler, or service org. who buy the right to own and operate 1+ unites in franchise system.
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