Retail format represented by retail chains that have taken what were previously small, narrowly focused specialty stores and expanded these to create large specialty stores.
Retail format represented by a contractual arrangement in which franchisees (i.e., retail store operator) agree to pay for the right to use a franchisor's (i.e., retail business owner) business methods and other business aspects such as the franchise name.
Major New Purchase Decision
Type of consumer purchase decision considered to be the most difficult since these are important to the consumer but the consumer has little or no previous experience making these decisions.
Method of data collection, often associated with Qualitative Research, that watches customers as they perform activities either in a laboratory or in a natural setting (e.g., shopping in a retail store, using products at home).
Key component of the marketer's toolkit that represents decisions on the methods (e.g., advertising, personal selling, public relations) and strategies needed to communicate with a target market.
Store-Based Retailers (also Brick-and-Mortar Retailers)
Retailers selling to customers through physical retail outlets.
Retail format represented by retailers that provide product information to customers within a mailed catalog or website, and allow customers to place orders via phone, through regular mail or online, and then deliver orders via a third-party shipper.
Activities used by the marketer to support the purchaser's experience with a product such as training, repair and complaint resolution.
Consists of those who have formerly had relations with the marketing organization, typically through a previous purchase, but have not purchased from the marketer within a certain timeframe.
A form of sales promotion, used in both consumer and business markets, that offers customers rewards, such as price discounts and free products, based on purchase frequency or other activity.
Retailers selling to customers through means other than a physical outlet including online, direct marketing and vending.
A type of psychological pricing where price is set based on customers' perception of a significant difference in cost between products priced at a whole number value and products priced slightly below this whole number.
Wholesale format represented by distributors that require buyers visit the wholesaler's facility, physically select their order, pay in cash (i.e., credit purchases not permitted), and then handle their own delivery (i.e., carry).
Customer Contact Points
The different methods a customer uses to communicate with a company such as in-person, by telephone, over the Internet, etc.
Method of data collection, often associated with Qualitative Research, in which a group of respondents (generally numbering 8-12) are guided through discussion by a moderator in the hope that group interaction will stimulate comments that may not otherwise be elicited.
A form of promotional price adjustment, primarily used by retailers to increase customer traffic, that intentionally prices select products at or below the cost the retailer pays to purchase the product from suppliers.