Flashcards: Fundamentals of Retailing Strategies — 18 cards

Retailing formats — types?

Store-based and non-store formats.

Food retailing — focus?

Sale of food products directly to consumers.

Store formats — classification?

Size, product range, shopping environment.

Non-store retailing — examples?

Online, direct mail, vending.

Retail environment — components?

Physical space, social, economic, technological factors.

Atmospherics in retail — elements?

Lighting, music, scent, visual displays.

Online retail environment — key?

Website design, usability, digital cues.

Retail industry — importance?

Contributes to GDP, employment, supply chain.

Retailing — core principles?

Selling goods/services, managing customer interactions.

Retail functions — examples?

Assortment, inventory, pricing, customer service.

Retail fundamentals — focus?

Activities enabling effective retailing and value delivery.

Merchandise retailing — process?

Purchasing, managing, selling products to consumers.

Product assortment strategies — goal?

Meet customer preferences, balance variety.

Marketing orientation — definition?

Customer-focused philosophy guiding business activities.

Marketing adoption — process?

Acceptance and integration of marketing strategies.

Retail marketing strategies — components?

Pricing, promotion, place/distribution.

Customer relationship management — role?

Builds loyalty, personalizes interactions.

Retail environment influence?

Shapes perceptions, affects shopping behavior.