Retailing - All the activities involved in selling goods or services directly to final consumers for their
personal, nonbusiness use
Retailer - A business whose sales come primarily from retailing
Shopper marketing - Using in-store promotions and advertising to extend bran equity to "the last mile"
and encourage favorable in-store decisions
Specialty store - A retail store that carries a narrow product line with a deep assortment within that line
Department store - 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
Supermarket - A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of
grocery and household products
Convenience store - A small store, located near a residential area, that is open long hours seven days a
week and carries a limited line of high-turnover convenience goods
Superstore - A store much larger than a regular supermarket that offers a large assortment of routinely
purchased food products, nonfood items, and services
Category killer - A giant specialty store that carries a very deep assortment of a particular line and is
staffed by knowledgeable employees
Service retailer - A retailer whose product line is actually a service, including hotels, airlines, banks,
colleges, and many others
Discount store - A retail operation that sells standard merchandise at lower prices by accepting lower
margins and selling at higher volume
Off-price retailer - A retailer that buys at less-than-regular wholesale prices and sells at less than retail.
Examples are factory outlets, independents, and warehouse clubs
Independent off-price retailer - An off-price retailer that is either independently owned and run or is a
division of a larger retail corporation
Factory outlet - An off-price retailing operations that is owned and operated by a manufacturer and
normally carries the manufacturer's surplus, discontinued, or irregular goods
Warehouse club - An off-price retailer that sells a limited selection of brand name grocery items,
appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual
membership fees
Chain stores - Two or more outlets that are commonly owned and controlled
Franchise - A contractual association between a manufacturer, wholesaler, or service organization and
independent business people who buy the right to own and operate one or more units in the franchise
system
Shopping center - A group of retail businesses built on a site that is planned, developed, owned, and
managed as a unit
Wheel-of-retailing concept - 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
Wholesaling - All the activities involved in selling goods and services to those buying for resale or
business use
Wholesaler - A firm engaged primarily in wholesaling activities
Merchant wholesaler - An independently own wholesale business that takes title to the merchandise it
handles
Broker - A wholesaler who does not take title to goods and whose function is to bring buyers and sellers
together and assist in negotiation
Agent - A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a
few functions, and does not take title to goods
Manufacturer's sales branches and offices - Wholesaling by sellers or buyers themselves rather than
through independent wholesalers
