Retailing Industry

Retailing industry includes companies that are involved in a sale of goods or services from businesses to a final consumer to make a profit.

Term
Descriprion
Automatic vending

The class of Non-store retailing. Vending machines are primarily found in offices, factories, gasoline stations, large retail stores, restaurants etc. which offer a variety of products including impulse goods such as coffee, candy, newspaper, soft drinks etc.

B2B

The situation where one business makes a commercial transaction with another.

B2C

The process of selling products and services directly between consumers who are the end-users of its products or services.

Buying service

The class of Non-store retailing. The retail organization serves a number of clients collectively, such as employees of an organization, who are authorized to purchase goods from specific retailers that have contracted to give discount, in exchange for membership.

Client

The recipient of goods or services in return for monetary or other valuable considerations. The client differs from the customer in that Client usually is someone who pays someone else for services or advice and Client has long-standing closer professional relationships and personalization.

Consumer

The person or organization that uses or consumes economic services or commodities. The consumer directly uses a product or a service, but it’s not necessary that he buys it.

Corporate Retailing

It includes retail organizations such as corporate chain store, franchises, retailer and consumer cooperatives and merchandising conglomerates. There are a number of advantages that these organizations can achieve jointly, such as economies of scale, better and qualified employees, wider brand recognition, etc.

Customer

The recipient of a good, service, product or an idea - obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration.

Customer relationship management (CRM)

The approach to manage a company's interaction with current and potential customers.

Delivery

The process of transporting goods from a source location to a predefined destination.

Direct marketing

The class of Non-store retailing. In this process, consumer direct channels are employed by the company to reach and deliver products to the customers. It includes direct mail marketing, catalog marketing, telemarketing, online shopping etc.

Distribution

The process of making a product or service available for the consumer or business user who needs it.

Electronic Retailing - e-tailing

The process of selling the goods and services through electronic media, particularly the internet. Simply, the sale of retail goods and services online is called as electronic retailing.

Non-store Retailing

The evident from the name itself, that when the selling of merchandise takes place outside the conventional shops or stores, it is termed as non-store retailing.

Pricing

The process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan.

Product

The object or system made available for consumer use; it is anything that can be offered to a market to satisfy the desire or need of a customer.

Promotion

The type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue.

Retailing

The distribution process, in which all the activities involved in selling the merchandise directly to the final consumer (i.e. the one who intends to use the product) are included.

Service

The transaction in which no physical goods are transferred from the seller to the buyer.

Vendor or Seller or Supplier

The enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. Today, these terms refer to a supplier of any goods or service.

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