Marketing Chapter 16
Marketing Chapter 16 MAR 250
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This 2 page Class Notes was uploaded by Melanie Guerrero on Saturday April 23, 2016. The Class Notes belongs to MAR 250 at Pace University taught by Harvey Markowitz in Winter 2016. Since its upload, it has received 4 views. For similar materials see Principles of Marketing (20335) in Marketing at Pace University.
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Date Created: 04/23/16
Chapter 16 Breadth of product line – refers to the variety of different items a store carries, such as appliances and books Brokers – independent firms or individuals whose principal function us to bring buyers and sellers together to make sales Category management – this approach assigns a manager the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category Central business district – oldest retail setting, the community’s downtown area Community shopping center – typically has one primary store (usually a department store branch) and often 20-40 smaller outlets Depth of product line – means the store carries a large assortment of each item, such as show store that offers running shoes, dress shoes, and children’s shoes Form of ownership – this distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet Hypermarket – a form of scrambled merchandising, provide variety, quality, and low prices for groceries and general merchandise items Intertype competition – competition between very dissimilar types of retail outlets Level of service – is used to describe the degree or service provided to the customer Manufacturer’s agents – work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory Merchandise line – describes how many different types of products a store carries and in what assortment Merchant wholesalers – independently owned firms that take title to the merchandise they handle Multichannel retailers – will utilize and integrate a combination of traditional store formats and non-store formats such as catalogs, television, home shopping, and online retailing Off-price retailing – selling brand-name merchandise at lower than regular prices (TJ Maxx) Power center – a variance of a strip mall with multiple anchor (or national) stores such as Home Depot, Best Buy, or JC Penny Regional shopping centers – consist of 50-150 stores that typically attract customers who live or work within a 5-10 mile range Retail life cycle – Early growth, accelerated development, maturity, and then a decline Retail positioning mix – a matrix developed by MAC group, Inc. and consists of two retail outlets: breadth of product line and value added Breadth of product line ranging from Broad – Narrow vertically and Value added low – high horizontally Retailing – includes all activities involved in selling, renting, and provided products and services to ultimate consumers for personal, family, or household use Retailing mix – includes activities relating to managing the store and the merchandise in the store Scrambled merchandising – offering several unrelated product lines in a single store, for example, 99 cents store Shopper marketing – the use of displays, coupons, product samples, and other brand communications to influence shipping behavior in a store Strip mall – serve people within a 5-10 mile drive, usually gas stations, hardware, laundry, grocery, and pharmacy outlets are found there. Telemarketing – using a telephone to interact with and sell directly to consumers Wheel of retailing – describes how new forms of retail outlets enter the market. Usually they enter as low-status, low-margin stores and gradually add embellishments to increase attractiveness and gradually increase prices with this addition and still add more services and their status increases
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