Chapter-13. Retailing and wholesaling

Photo credit: http://www.pearson.com

Retailing: Retailing includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. 

Retailer: A business whose sales come primarily from retailing. 

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. 

Superstore: A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services. 

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 a 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. 

Factory outlet: An off-price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturer's surplus, discontinued, or irregular goods. 

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.

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. 

All the information has collected from principles of marketing (Asian perspective)