RM Reviewer

Retailing- encompasses the business activities involved in selling goods.
Distribution channel- all the people and business involved in the physical movement and transfer of ownership of
goods and services.
Omni channel retailing- sells to consumer through multiple retail format
Exclusive Distribution- suppliers make agreements with one or few retailers that designate the latter as the only
one specific geographic.
Intensive Distribution- suppliers sells through as many retailers as possible.
Walmart- leading company in the world in terms of sale.
Relationship retailing- seek to establish and maintain long term bonds with customers.
Value- based on perceived benefits received vs the price paid.
Retail Value Chain- comprises shopping loc. And parking
Attitudinal loyalty- have a higher tendency spread positive word of mouth to people.
Customer Service- refers to identifiable but sometimes intangible.
Augmented customer service- activities enhance the shopping experience.
Customer Satisfaction- occurs when the value and costumer service provided through retailing experience meet.
Owned good services- goods owned by consumer are repaired, improve or maintained.
Situation analysis- a candid evaluation of the opportunities and threats.
Modified true or false.
1. Retailing refers to the identifiable but sometimes intangible, activities undertaken
False- Retailing- Customer service
2. Retailing concept whereby they seek establish and maintain long term bonds with customers
False-RC- Retailing Relationship
3. The bright logo is the nickname by which home depot is known all over the world
False-bright Orange
4. World of music is a German based retailer with physical facilities and it offers many genres
-True
5. Sorting process collect an assortment from various sources by in large, quantities, and sell in a small
- true
6. A customer satisfaction must regularly emphasize their customer based in terms of population
False- customer base
7. For retailers loyalty programs increase consumer revenue offer in addition to the -True
8. Non good services whereby consumer lease and use goods for specified period of time.
False- rented good services
9. Rented good services whereby intangible personal services are offered
False- Non good services
10. Owned good services whereby goods owned by consumer are repaired, improve and maintain.
-True
3 multichannel program
1. BOSS – Buy online ship to store
2. BOPIS- buy online, pick up in the store
3. BORIS- buy online return in the store
4 principles form the retailing concept
1. Customer orientation
2. Coordinated effort
3. Value Driven
4. Goal Orientation
3 aspects of value oriented retail strategy
Expected retail strategy
Augmented retail strategy
4 factors in relationship retailing
1. Customer Base
2. Customer Service
3. Customer Satisfaction
4. Loyalty program and defection rates
2 types of value
1. Delivering value
2. Receiving value
6 steps in designing retail strategy
1. Situation analysis 3. Identification of consumer 5. Specific activities
2. Objectives. 4. Overall strategy 6. Control
1. Food oriented retailers
A. Convenience store- well located food oriented retailer that open for long hours
B. Conventional supermarket- self service food store
C. Food based superstore- larger and more diversified than conventional supermarket
D. Combination store- unites supermarket and merchandise in one facility
E. Box (Limited line) store- focuses on small selection of items
F. Warehouse store- offer a moderate number of food items
2. General merchandise retailer
A. Specialty store- Concentrates of selling one type of goods and service line
B. Department store- large retail unit with an extensive assortment of goods and services
Traditional Department store- merchandise quality ranges from average to quite good.
C. Full line discount store- conveys the image of high volume, low cost outlet
D. Variety store- handles an assortment of inexpensive and popularly priced goods and services
E. Off price chain- features brand names
F. Factory outlet- manufactured owned store
G. Membership (warehouse) club- straddles the line between wholesaling and retailing
H. Flea market- sells a range of products at discount prices in plain surroundings.

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Retailing- encompasses the business activities involved in selling goods.

Omni channel retailing- sells to consumer through multiple retail format

Intensive Distribution- suppliers sells through as many retailers as possible.

Walmart- leading company in the world in terms of sale.

Value- based on perceived benefits received vs the price paid.

Retail Value Chain- comprises shopping loc. And parking

Customer Service- refers to identifiable but sometimes intangible.

Augmented customer service- activities enhance the shopping experience.

Situation analysis- a candid evaluation of the opportunities and threats.

Modified true or false.

1. Retailing refers to the identifiable but sometimes intangible, activities undertaken

False- Retailing- Customer service

False-RC- Retailing Relationship

False- customer base

False- rented good services

9. Rented good services whereby intangible personal services are offered

False- Non good services

1. BOSS – Buy online ship to store

2. BOPIS- buy online, pick up in the store

3. BORIS- buy online return in the store

4 principles form the retailing concept

3 aspects of value oriented retail strategy

Expected retail strategy

Augmented retail strategy

4 factors in relationship retailing

4. Loyalty program and defection rates

6 steps in designing retail strategy

1. Situation analysis 3. Identification of consumer 5. Specific activities

2. Objectives. 4. Overall strategy 6. Control

1. Food oriented retailers

D. Combination store- unites supermarket and merchandise in one facility

E. Box (Limited line) store- focuses on small selection of items

F. Warehouse store- offer a moderate number of food items

2. General merchandise retailer

E. Off price chain- features brand names

F. Factory outlet- manufactured owned store

H. Flea market- sells a range of products at discount prices in plain surroundings.

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