Glossary: Chapter 14



	Glossary Chapter 14: Retailing Jump to a chapter's terms: 1 \| 2 \| 3 \| 4 \| 5 \| 6 \| 7 \| 8 \| 9 \| 10 \| 11 \| 12 \| 13 \| 14 \| 15 \| 16 \| 17 \| 18 \| 19 \| 20 \| 21 \| 22 \| 23 \| 24 Atmospherics The physical elements in a store's design that appeal to consumers' emotions and encourage them to buy. p. 437 Automatic vending The use of coin operated self-service machines to sell small, standardised, routinely purchased products such as chewing gum, sweets, newspapers, cigarettes, soft drinks and coffee. p. 431 Balance of retailing power The balance of negotiating and buying power between retailers and their suppliers. p. 439 Cash and carry warehouses Outlets that retail extensive ranges of groceries, tobacco, alcohol, beverages and confectionery to newsagents, small supermarkets and convenience stores, and the catering trade. p. 427 Catalogue retailing A type of mail order retailing in which customers receive their catalogues by mail, or pick them up if the catalogue retailer has stores. p. 432 Catalogue showroom Outlets in which one item of each product class is on display and the remaining inventory is stored out of the buyers' reach. p. 428 Category killers Large stores, tending to be superstore sized, that specialise in a narrow line of merchandise. p. 425 Central business district (CBD) The traditional hub of most cities and towns; the focus for shopping, banking and commerce and hence the busiest part of the whole area. p. 418 Convenience stores Shops that sell essential groceries, alcoholic drinks, drugs and newspapers outside the traditional shopping hours. p. 427 Customer threshold The number of customers required to make a profit. p. 420 Department stores Physically large stores that occupy prominent positions in the traditional heart of the town or city or as anchor stores in out-of-town malls. p. 422 Direct marketing The use of non-personal media, the Internet or telesales to introduce products to consumers, who then purchase the products by mail, telephone or the Internet. p. 430 Discount sheds Cheaply constructed, one storey retail stores with no window displays and few add-on amenities; oriented towards car-borne shoppers. p. 425 Discounters Operations that take short term leases in un-let units in malls, selling such items as stationery, toys, confectionery and gifts at deeply discounted prices . p. 427 Edge of town sites Retail locations on undeveloped land, providing purpose built stores, parking facilities and amenities for their customers on the edge of a built up area. p. 421 EPOS Electronic point-of-sale scanning of barcodes for inventory management. p. 440 Factory outlet villages Converted rural buildings or purpose built out-of-town retail parks for manufacturers' outlets retailing branded seconds, excess stocks and last season's lines or trialling new lines. p. 427 Franchising An arrangement whereby a supplier (franchisor) grants a dealer (franchisee) the right to sell products in exchange for some type of consideration. p. 432 Hypermarkets Stores that take the benefits of the superstore even further, using their greater size to give the customer a wider range and depth of products. p. 424 Image A functional and psychological picture in the consumer's mind. p. 438 In-home retailing Selling via personal contacts with consumers in their own homes. p. 430 Location The strategic retailing issue that dictates the limited geographic trading area from which a store must draw its customers. p. 434 Mail order retailing Selling by description because buyers usually do not see the actual product until it arrives in the mail. p. 432 Markets Halls where fresh foods, clothing and housewares are sold, catering for budget-conscious shoppers who typically have a middle and down-market social profile. p. 427 Non-store retailing The selling of goods or services outside the confines of a retail facility. p. 429 Prime pitch The area at the centre of the shopping zone with the main shops and the highest levels of pedestrian footfall. p. 419 Retail parks Groupings of free-standing superstores, forming a retail village. p. 421 Retail positioning The strategy of identifying a highly attractive market segment and serving it in a way that distinguishes the retailer from others in the minds of consumers in that segment. p. 436 Retail technology Systems that increase retailers' efficiency and productivity and often create a competitive edge. p. 440 Retailer A business that purchases products for the purpose of re-selling them to ultimate consumers, the general public, often from a shop or store. p. 417 Retailing All transactions in which the buyer intends to consume the product through personal, family or household use. p. 417 Scrambled merchandising The addition of unrelated products and product lines, particularly fast moving items that can be sold in volume, to an existing product mix. p. 438 Speciality shops Stores that offer self-service but a greater level of assistance from store personnel than department stores and carry a narrow product mix with deep product lines. p. 426 Suburban centres Shopping centres created at major road junctions that cater for local shopping needs. p. 420 Supermarkets and superstores Large, self-service stores that carry a complete line of food products as well as other convenience items. p. 423 Telemarketing The direct selling of goods and services by telephone based on either a cold canvass of the telephone directory or a pre-screened list of prospective clients. p. 431 Variety stores Slightly smaller and more specialised stores than department stores, offering a reduced range of merchandise. p. 423 Warehouse clubs Large scale, members only selling operations combining cash and carry wholesaling with discount retailing. p. 425 Wheel of retailing The hypothesis that new retailers often enter the marketplace with low prices, margins and status and eventually emerge at the high end of the price/cost/services scales to compete with newer discount retailers. p. 439