Term
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Definition
| all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use |
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Term
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Definition
| a business whose sales come primarily from retailing |
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| a retail store that carries a narrow product line with a deep assortment within that line |
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| 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 |
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Definition
| a larte, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products |
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Definition
| a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-tunrover convenience goods |
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Definition
| a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services |
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Definition
| a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees |
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| a retailer whose product line is actually a service, including hotels, airlines, banks, colleges, and many others |
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Definition
| a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume |
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Definition
| a retailer that buys at less-than-regular wholesale prices and sells at less than retail. examples are factory outlets, independents, and warehouse clubs |
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Term
| independent off-price retailer |
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Definition
| an off-price retailer that is either independently owned and run or is a division of a larger retail corporation |
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Definition
| an off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discounted, or irregular goods |
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Term
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Definition
| an off-price retailer that sells a limited selection of brand name grocery name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees |
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Term
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Definition
| two or more outlets that are commonly owned and controlled |
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Definition
| 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 |
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Definition
| a group of retail businesses built on a site that is planned, developed, owned and managed as a unit |
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Term
| wheel-of-retailing concept |
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Definition
| 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 |
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Term
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Definition
| all activities involved in selling goods and services to those buying for resale or business use |
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Term
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Definition
| a firm engaged primarily in wholesaling activities |
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Term
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Definition
| an independently owned wholesaler business that takes title to the merchandise it handles |
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Term
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Definition
| a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation |
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Term
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Definition
| a wholesaler who represents buyers or sellers on a relatively permanent basis performs only a few functions, and does not take title to goods |
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Term
| manufacturers' sales branches and offices |
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Definition
| wholesaling by sellers or buyers themselves rather than through independent wholesalers |
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