Term
| to reduce transportation costs, manufacturers and wholesalers typically ship cases of frozen dinners or cartons of blouses to retailers. Retailers then offer the products in smaller quantities tailored to individual consumers’ and households’ consumption patterns |
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Definition
| when a retailer performs some distribution and manufacturing activities, such as operating warehouses or designing private-label merchandise |
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Term
| a manufacturer undertakes retailing activities (such as Ralph Lauren operating its own retail stores) |
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Definition
| the principles governing the behavior of individuals and companies to establish appropriate behavior and indicate what is right and wrong |
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Term
| the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders |
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Definition
| competition between retailers that sell similar merchandise using different formats (such as discount stores versus department stores) |
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Term
| competition between the same type of retailers (department stores compete against other department stores, and supermarkets compete with other supermarkets, etc.) |
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Definition
| a business that sells products and/or services to consumers for their personal or family use |
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Term
the decision variables retailers use to satisfy customer needs and influence |
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Definition
| the set of business activities that adds value to the products and services sold to consumers for their personal or family use |
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Term
| It identifies (1) the target market, or markets, toward which the retailer will direct its efforts; (2) the nature of the merchandise and services the retailer will offer to satisfy the needs of the target market; and (3) how the retailer will build a long-term advantage over its competitors |
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Definition
their purchase decisions (customer service, store design/display, location, price, merchandise assortment, communication mix) |
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Term
| a set of firms that make and deliver a given set of goods and services to the ultimate consumer (manufacturer à wholesaler à retailer à customer) |
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Definition
| when retailers offer merchandise not typically associated with their type of store (such as clothing in a drug store) |
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Term
| a firm performs more than one set of activities in the supply chain, such as investments by retailers in wholesaling or manufacturing |
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Definition
| the number of different merchandise categories within a store or department |
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Term
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Definition
| engage in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods (usually in smaller quantities) to retailers or industrial or business users |
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