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Retailers that offer a broad variety of merchandise, limited services, and low prices are known as

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Assortment The number of SKUs within a merchandise category. Also called depth of merchandise.
Breadth of merchandise The number of different merchandise categories within a store or department (also called variety)
Catalog retailing Nonstore retail format in which the retail offering is communicated to a customer through a catalog.
Category killers A discount retailer that offers a complete assortment in a category and thus dominates a category from the customer’s perspective. Also called a category specialist.
Category specialist A discount retailer that offers a complete assortment in a category and thus dominates a category from the customer’s perspective (also called category killers).
Closeout retailer Off-price retailer that sells a broad but inconsistent assortment of general merchandise as well as apparel and soft home goods obtained through retail liquidations and bankruptcy proceedings.
Convenience store A store that provides a limited variety and assortment of merchandise at a convenient location in a 2,000-to 3,000-square-foot store with speedy checkout.
Conventional supermarket A self-service food store that offers groceries, meat, and produce with limited sales of nonfood items, such as health and beauty aids and general merchandise.
Department store A retailer that carries a wide variety and deep assortment, offers considerable customer services, and is organized into separate departments for displaying merchandise.
Depth of merchandise The number of SKUs within a merchandise category. Also called depth of merchandise (also called assortment).
Direct mail retailers A nonstore retailer that communicates directly with customers using mail brochures and pamphlets to sell a specific product or service to customers at one point in time.
Direct response advertising Advertisements on TV and radio that describe products and provide an opportunity for customers to order them.
Direct selling A retail format in which a salesperson, frequently an independent distributor, contacts a customer directly in a convenient location (either at a customer’s home or at work) and demonstrates merchandise benefits, takes an order, and delivers the merchandise to the customer.
Drugstore Specialty retail store that concentrates on pharmaceuticals and health and personal grooming merchandise.
Efficient customer response The set of programs supermarket chains have undertaken to manage inventory and increase inventory turnover.
Electronic retailing A retail format in which the retailers communicate with customers and offer products and services for sale over the Internet.
E-tailing A retail format in which the retailers communicate with customers and offer products and services for sale over the Internet.
Extreme value food retailers A supermarket offering a limited number of SKUs. Also called (limited assortment supermarkets)
Extreme value retailers Small, full line discount stores that offer a limited merchandise assortment at very low prices
Factory outlet Outlet store owned by a manufacturer
Franchising A contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor
Full line discount store Retailer that offers a broad variety of merchandise, limited service, and low prices.
General merchandise catalog retailers Nonstore retailers that offer a broad variety of merchandise in catalogs that are periodically mailed to their customers.
Home improvement center A category specialist offering equipment and material used by do-it-yourselfers and construction contractors to make home improvements
Hypermarket Large (100,000 to 300,000 square feet) combination food (60 –70 percent) and general merchandise (30 –40 percent) retailer.
Infomercials TV programs, typically 30 minutes long, that mix entertainment with product demonstrations and solicit orders placed by telephone from consumers.
Internet retailing A retail format in which the retailers communicate with customers and offer products and services for sale over the Internet.
Limited assortment supermarket A supermarket offering a limited number of SKUs. (Also called extreme value supermarkets)
NAICS (North American Industry Classification System) Classification of retail firms into a hierarchical set of six-digit codes.
Multilevel network A retail format in which people serve as master distributors, recruiting other people to become distributors in their network.
Off-price retailer A retailer that offers an inconsistent assortment of brand name, fashion-oriented soft goods at low prices.
Outlet store Off-price retailer owned by a manufacturer or a department or specialty store chain.
Party plan system Salespeople encourage people to act as hosts and invite friends or co-workers to a “party” at which the merchandise is demonstrated. The host or hostess receives a gift or commission for arranging the meeting.
Power perimeter The area around the outside walls of supermarkets that have fresh merchandise categories.
Pyramid scheme When the firm and its program are designed to sell merchandise and services to other distributors rather than to end users.
Retail chain A firm that consists of multiple retail units under common ownership and usually has some centralization of decision making in defining and implementing its strategy.
Services retailer Organization that offers consumers services rather than merchandise. Examples include banks, hospital, health spas, doctors, legal clinics, entertainment firms, and universities.
SKU (Stock Keeping Unit) The smallest unit available for keeping inventory control. In soft goods merchandise, an SKU usually means size, color, and style.
Specialty catalog retailer A nonstore retailer that focuses on specific categories of merchandise, such as fruit (Harry and David), gardening tools (Smith & Hawken), and seeds and plants (Burpee).
Specialty store Store concentrating on a limited number of complementary merchandise categories and providing a high level of service in an area typically under 8,000 square feet
Supercenter Large store (150,000 to 200,000 square feet) combining a discount store with a supermarket
Television home shopping A retail format in which customers watch a TV program demonstrating merchandise and then place orders for the merchandise by phone.
Value retailers General merchandise discount stores that are found in either low-income urban or rural areas and are much smaller than traditional stores, less than 9,000 square feet.
Warehouse club A retailer that offers a limited assortment of food and general merchandise with little service and low prices to ultimate consumers and small businesses.
Wholesale-sponsored voluntary cooperative group An organization operated by a wholesaler offering a merchandising program to small, independent retailers on a voluntary basis.
Conversion rate Percentage of consumers who buy the product after viewing it
Disintermediation When a manufacturer sells directly to consumers, thus competing directly with its retailers
Electronic agent Computer program that locates and selects alternatives based on some predetermined characteristics
Magalogs Combination of magazine and catalog
Multichannel retailer Retailer that sells merchandise through more than one channel
Online chat A customer service offering that provides customers with an opportunity to click a button anytime and have an instant messaging, email or voice conversation with a customer service representative.
Share of wallet The percentage of total purchases made by a customer in a store
Virtual communities A network of people who seek information, products, and services and communicate with each other about specific issues.

What are retailers that offer a broad variety of merchandise limited service and low prices?

Convenience stores is a retailer that offers a broad variety of merchandise, limited service, and low prices. They offer both private and national brands. The big three full-line discount store chains are Wal-Mart, Target and Kmart.

Are large retailers that offer a limited and a regular assortment of food and general merchandise little service and low prices to the general public and small businesses?

Warehouse Clubs: large retailers (at least 100,000-150,000 sq. ft.) that offer a limited and irregular assortment of food and general merchandise with little service at low prices for ultimate consumers and small businesses.

Which type of general merchandise retailer carries a broad variety and narrow assortment of products?

Department Stores are retailers that carry a broad variety and deep assortment, offer considerable customer services and are organized into separate departments for displaying merchandise.

Are retailers that offer a limited and irregular assortment of food and general merchandise with little service at low prices for ultimate consumers and small businesses?

: A general merchandise retailer who offers a limited merchandise assortment, with little service and at low prices, to ultimate consumers and small business outfits is termed as warehouse club.

retailers offer broad variety merchandise limited services low prices

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