Term
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Definition
| Final activities and steps needed either to place a product in the hands of the consumer or to provide a service to the consumer |
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Term
| Bricks-and-Mortar Retailers |
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Definition
| Retailers operating in physical buildings |
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Term
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Definition
| An individual store's sales compared to its sales for the same month in the previous year |
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Term
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Definition
| A retailer's total sales divided by total market sales or the proportion of total sales in a particular geographic or product market that the retailer has been able to capture; sales as a percentage of total market sales for the merchandise line or service category under consideration |
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Term
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Definition
| A retailer's marketing of many different unrelated non-drug items such as food products, apparel goods, photo supplies, greeting cards, and seasonal items such as school supplies, gardening supplies and Christmas decorations, and even clothing |
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Term
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Definition
| A retailer who carries a large amount of merchandise in a single category at such low prices that customers almost always purchase what they need, thus "killing" the competition |
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Term
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Definition
| A list used by all stores in a retail chain so they can stock the same merchandise |
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Term
| Optional Stock List Approach |
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Definition
| A retail chain's list that gives each store the flexibility to adjust its merchandise mix to local tastes and demands |
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Term
| Channel Advisor AKA Channel Captain |
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Definition
| A supply-chain member-- wholesaler, broker, or manufacturer-- who performs functions they might not otherwise perform such as making direct-to-store deliveries, increasing promotional allowances, extending payment terms, or producing special package sizes, any of which will help the retailer operate more efficiently |
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Term
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Definition
| May be done as store branding in which a retailer develops its own brand name and contracts with a manufacturer to produce the product with the retailer's brand-- or as a designer line, in which a known designer develops a line exclusively for the retailer |
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Term
| Gross-Margin Percentage AKA Gross-Margin Return on Sales |
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Definition
| How much gross margin a retailer makes as a percentage of sales; also referred to as gross-margin return on sales |
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Term
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Definition
| A retailer's total sales, including sales for cash or for credit |
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Term
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Definition
| Expenses incurred by a retailer in running a business other than the cost of the merchandise-- for example, rent, wages, utilities, depreciation, and insurance |
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Term
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Definition
| Average number of times per year that a retailer sells its inventory |
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Term
| High-Performance Retailer |
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Definition
| A retailer that produces financial results substantially superior to the industry average |
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Term
| Low-Margin, Low-Turnover Retailer |
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Definition
| A retailer that will not be able to generate sufficient profits to remain competitive and survive |
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Term
| High-Margin, Low-Turnover Retailer |
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Definition
| Typically a bricks-and-mortar retailer; quite common in the United States-- for example, furniture stores, high-end women's specialty stores and furriers, jewelry stores, gift shops, funeral homes, and most mom-and-pop stores. |
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Term
| Clicks-and-Mortar Retailers |
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Definition
| Retailer that sells both online and in physical stores; examples include Coach and Tiffany's |
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Term
| Low-Margin, High-Turnover Retailers |
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Definition
| Retail form that developed after World War II with the advent of the discount store. Makes less per unit sold but sells large numbers of units. Amazon.com is probably the best-known example of a low-margin, high turnover e-tailer |
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Term
| High-Margin, High Turnover Retailers |
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Definition
| Highly profitable strategy used by convenience stores such as 7-Eleven, Circle K, and Quick Mart and concessions and sports apparel businesses at major athletic events. No examples of successful e-tailers using this strategy |
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Term
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Definition
| Career path that requires good people skills but gives an employee many chances to make decisions that affect a store's profitability |
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Term
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Definition
| Career path that requires the use of quantitative tools such as merchandise budgets to develop appropriate buying plans for their merchandise lines; responsible for selecting merchandise and vendors and negotiating terms with them; and must coordinate with store managers to ensure they are meeting customers' needs |
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