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Retailing Management Chpt. 7
Chapt 7 Retail
29
Management
Undergraduate 4
10/21/2012

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Term
Home Page
Definition
The first page of an e-tailers website; essentially the e-tailer's storefront
Term
Virtual Store
Definition
the total collection of all the pages of information on a retailers website
Term
Ease of Access
Definition
The consumers ability to easily and quickly find a website in cyberspace
Term
Target Market
Definition
Group or groups of customers that the retailer seeks to serve; the segment of the market that the retailer decides to pursue through its marketing efforts
Term
Store-Based Retailers
Definition
A retailer that operates from a fixed store location that requires customers to travel to the store to view and purchase merchandise and or services
Term
Nonstore-based Retailers
Definition
A retailer that reaches customers at home, at work, or at places other than a store where they might be open to purchasing
Term
Secondary Business District (SBD)
Definition
A shopping area that is smaller than the CBD, revolves around at least one department or variety store, and it located at a major street intersection
Term
Neighborhood Business District (NBD)
Definition
A shopping area that evolves to satisfy the convenience- oriented shopping needs of a neighborhood
Term
Shopping Center
Definition
A centrally owned or managed shopping district that is planned, has balanced tenancy (the stores complement each other in merchandise offerings), and is surrounded by parking facilities
Term
Anchor Stores
Definition
A dominant large-scale store that is expected to draw customers to a shopping center
Term
Freestanding Retailer
Definition
A retailer that generally locates along major traffic arteries without any adjacent retailers selling competiting products to share traffic
Term
Geographic Information System (GIS)
Definition
A computerized system that combines physical geography with cultural geography
Term
Culture
Definition
the buffer that humankind has created between itself and the raw physical environment, including population characteristics and human-made objects; anything that humans can put onto a physical space, which then becomes an attribute of the physical space
Term
Thematic Maps
Definition
Area maps that use visual techniques such as colors, shading, lines, and so on to display cultural charactertistics of the physical space
Term
Trading Areas
Definition
Geographic area from which a retailer, group of retailers, or community draws its customers
Term
Retail Clusters
Definition
Groups of stores closely located that share similar charactertistics such as product category, store format, or customer demographics
Term
Store Compatibility
Definition
When two compatible or very similar businesses locate near each other, they will show an increase in sales volume greater than what they would have achieved if they were located seperately
Term
100-Percent Location
Definition
when there is no better use for a site than the retail store that is being planned for that site
Term
Demand Density
Definition
The extent to which potential demand for a retailers goods and services is concentrated in certain census tracts, ZIP-code areas, or parts of a community
Term
Eminent Domain Law
Definition
The inherent power of government to seize private property without the owner's consent in order to benefit the community
Term
Site analysis
Definition
An evaluation of the density of demand and supply within each market; usually augmented buy an identification of the most attractive sites that are currently available within each market
Term
Buying Power Index (BPI)
Definition
A single weighted measure that combines effective buying income, retail sales, and population size into an overall indicator of a market's potential
Term
Understored
Definition
When a market has too few stores to satisfactorily meet the needs of customers; when the number of stores per thousand households is small in comparison to other markets
Term
Overstored
Definition
When a market has too many stores to yield a fair return on investment; when the number of stores per thousand households gets too large
Term
Index of Retail Saturation (IRS)
Definition
The ratio of demand for a product or service divided by available supply; measured as IRS=(H x RE)/RF
Term
Retail Gravity Theory
Definition
Underlying consistencies in shopping behavior that allow for mathematical analysis and prediction based on the notion or concept of gravity
Term
Point of Indifference
Definition
In Reilly's law of retail gravitation, the breaking point at which customers would be indifferent to shopping at either of two cities
Term
Reilly's Law of Retail Gravitation
Definition
Named for William Reilly, law that states that two cities attract trade from an intermediate location approximately in direct proportion to the population of the two cities and in inverse proportion to the square of the distance from these two cities to the intermediate place
Term
Retail Store Saturation
Definition
Condition under which existing store facilities are utilized efficiently and meet existing customer needs
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