all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use
What is Retailing
100
the use of machines to offer goods for sale
What is Automatic Vending
100
the internal design and configuration of a store’s fixtures and products
What is Layout
100
a device that sends out connecting signals to customers’ smartphones and tablets in order to bring them into a retail store or improve their shopping experience
What is a Beacon
100
the use of the telephone to sell directly to consumers
What is Telemarketing
200
a retailer owned by a single person or partnership and not operated as part of a larger retail institution
What is an Independent Retailer
200
the selling of products by representatives who work door-to-door, office-to-office, or at home sales parties
What is Direct Retailing
200
the reduction of sales for one brand as the result of the introduction of a new product or promotion of a current product by another brand
What is Brand Cannibalization
200
the delivery of advertising or marketing material to recipients of postal or electronic mail
What is Direct Mail
200
the practice of buying something online and then traveling to a physical store location to take delivery of the merchandise
What is Click-and-Collect
300
a relationship in which the business rights to operate and sell a product are granted by the franchisor to the franchisee
What is a Franchise
300
a type of shopping available to consumers with personal computers and access to the Internet
What is E-Tailing (online retailing)
300
a combination of the six Ps—product, promotion, place, price, presentation, and personnel—to sell goods and services to the ultimate consumer
What is the Retailing Mix
300
shopping without visiting a store
What is Non-Store Retailing
300
searching for and discovering meaningful patterns in shopper data for the purpose of fine-tuning, developing, or changing market offerings
What is Shopper Analytics
400
the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted
What is Gross Margin
400
technological interfaces that allow customers to provide themselves with products and/or services without the intervention of a service employee
What is Self Service Technologies (SST)
400
inventory held in reserve for potential future sale in a retailer’s storeroom or stockroom
What is Back Stock
400
the reduction of multiple retail channel systems into a single, unified system for the purpose of creating efficiencies or saving costs
What is Retail Channel Omnification
400
typically focus on increasing total sales, reducing costs of goods sold, and improving financial ratios such as return on assets or equity
What is Strategic Retailing Goals
500
a large discount store that specializes in a single line of merchandise and becomes the dominant retailer in its category
What is a Category Killer
500
the use of direct marketing techniques that employ highly detailed data analytics in order to isolate potential customers with great precision
What is Microtargeting
500
understanding how one’s target consumers behave as shoppers, in different channels and formats, and leveraging this intelligence to generate sales or other positive outcomes
What is Shopper Marketing
500
have plans in place not only to recover from inevitable lapses in service but perhaps even to benefit from them.
What is The Best Retailers
500
techniques used to get consumers to make a purchase from their home, office, or other nonretail setting