Retailing and Wholesaling -- terms

marketing fundamentals -- part 11 -- terms

retailing -- all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
retailer -- businesses whose sales, primarily from retailing
specialty store -- a retail store that carries a narrow product line with a deepassortment within that line
department store -- a retail organization that carries a wide variety of product lines -- typically clothing, home furnishings, and household goods. Each line is operated as a separate department managed by specialist buyers or merchandisers
supermarket -- large, low-cost, low margin, high-volume, self-service store that carries a wide variety of food, laundry, 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 goods
superstore -- a store much larger than a regular supermarket that carries a large assortment of routinely purchased. And nonfood items and offer services such as dry-cleaning, post offices, photofinishing, and the check-cashing, bill paying, lunch counters, car care, and pet care
category killer -- giant specialty store that carries and very deep assortment of the particular line and is staffed by knowledgeable employees
discount store -- a retail institution that sells standard merchandise at lower prices by excepting lower margins and selling higher volume
off-price retailer -- 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 -- off-price retailer that is either owned and run by entrepreneurs or is a division of a larger retail corporation
factory outlet -- off-price retailing operation that is owned and operated by manufacturer and that normally carries the manufacturers surplus, discontinued, or irregular goods
warehouse club -- 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 to pay annual membership fees
chain stores -- two or more outlets that are owned and controlled in common, have central buying and merchandising, and sells similar lines of merchandise
franchise -- a contractual association between a manufacturer, wholesaler, or service organization (a franchiser) and an independent businesspeople (franchisee) to buy the rights to own and operate one or more units in the franchise system
shopping center -- a group of retail businesses play and, developed, owned, and managed as a unit
wheel of retailing concept -- a concept of retailing 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 activity
merchant wholesaler -- an independently owned business that takes title to the merchandise it handles
broker -- a wholesaler who does not take title to goods, his function is to bring buyers and sellers together and assist negotiation
agent -- a wholesaler who represents buyers or sell worse on a relatively permanent basis, performs only a few functions, and does not take title to goods