Breaking bulk |
A function performed by retailers or wholesalers in which they receive large quantities of merchandise and sell them in smaller quantities. |
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Intertype competition |
Competition between retailers that sell similar merchandise using different formats, such as discount and department stores. |
Intra-type competition |
Competition between the same types of retailers (e.g., Kroger versus Safeway). |
retail mix |
The combination of factors used by a retailer to satisfy customer needs and influence their purchase decisions; includes merchandise and services offered, pricing, advertising and promotions, store design and location, and visual merchandising. |
Retail strategy |
A statement that indicates (1)the target market toward which a retailer plans to commit its resources, (2) use to satisfy the needs of the target market, and (3) the bases upon which the retailer will attempt to build a sustainable competitive advantage over competitors. |
Retailer |
A business that sells products and services to consumers for their personal or family use. |
Retailing |
A set of business activities that adds value to the products and services sold to consumers for their personal or family use. |