Chapter 1 Vocabulary

Front

the process of selling products and/or services to customers in order to earn a profit

Back

retail

Front

a business or person that sells products and/or services to customers

Back

retailer

Front

merchandise or physical (tangible) goods that are bought and sold, such as food

Back

products

Front

intangible, meaning that they can't be physically owned by the customer

Back

services

Front

team members--the employees--at a store...keeps the products in good condition, displays the merchandise, shows customers how to use items and/or provides services package wrapping, delivery, installation, credit, and warranties

Back

retail team

Front

to provide customers with the merchandise and services they want--when, where and how they want to purchase them

Back

goal of retailing

Front

a thing that is perceptible by touch

Back

tangible

Front

an interconnected system of approaches for meeting the goal of retailing, which is to provide customers with the merchandise and services they want--when, where, how they want to experience and purchase them

Back

retail ecosystem

Front

offers customers the opportunity to interact with the multiple options in their ecosystem, may or may not be systemically connected

Back

multichannel retailing

Front

a retail model that integrates multiple channels of a retail ecosystem to create a seamless consumer experience through the use of technology

Back

omnichannel retailing