Bmgt353- chapter 5

Bmgt353- chapter 5 - Danielle Feller Chapter 5 Vocabulary...

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Danielle Feller February 18, 2009 Chapter 5 Vocabulary Bargaining Power of Vendors -A characteristic of a market in which retailers are so dependent on large, important vendors that their profits are adversely affected Barriers to Entry - Conditions in a retail market that make it difficult for firms to enter the market Competitive Rivalry - The frequency and intensity of reactions to actions undertaken by competitors Cross-Selling - When sales associates in one department attempt to sell complementary merchandise from other departments to their customers Customer Loyalty - Customers’ commitment to shopping at a store Data Warehouse - The coordinated and periodic copying of data from various sources, both inside and outside the enterprise, into an environment ready for analytical and informational processing. It contains all of the data the firm has collected about its customers and is the foundation for subsequent CRM activities. Direct Investment - The investment and ownership by a retail firm of a division or subsidiary that builds and operates stores in a foreign country Diversification Growth Opportunity - A strategic investment opportunity that involves an entirely new retail format directed toward a market segment nit presently being served 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
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This note was uploaded on 11/15/2010 for the course BMGT 353 taught by Professor Staff during the Spring '08 term at Maryland.

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Bmgt353- chapter 5 - Danielle Feller Chapter 5 Vocabulary...

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