MKT 3401 Study Guide - Midterm Guide: Self-Service, Gross Margin, Marginal Cost
Document Summary
Each department is headed by a buyer, or department head who selects merchandise: ex. : macy(cid:495)s: specialty stores, definition: a retail store specializing in a given type of merchandise, ex. : special items for bikes: stores that sells for a specific activity, supermarkets, definition: large, departmentalized, self-service retailer. July 7, 2015: definition: a retail store that stocks pharmacy-related products and services as its main draw, ex. : riteaid: convenience stores, definition: a miniature supermarket, carrying only a limited line of high-turnover convenience goods, ex. : circle k: discount stores, definition: competes on the basis of low prices, high turnover, and high volumes, categories of discount stores, full-line discount stores, supercenters, specialty discount stores, warehouse membership clubs, ex. : a marketing strategy that stimulates consumer demand to obtain product distribution: manufacturer promotes to consumer, consumer demands product from retailer, retailer demands product from wholesaler, wholesaler demands product from manufacturer.
