Reseller Market

Reseller Market – A market composed of the individuals and organizations that acquire goods for the purpose of reselling or renting them to others at a profit.

Reservation Price -The highest price a buyer is willing to pay for the product or service.

Reserve System of Stock Control – A method of controlling the amount of stock in the reserve stockroom by keeping records of all goods sent to the selling floor and all goods received from vendors. Stock in reserve is determined without counting the goods, but by adding the number of pieces received to the past physical inventory and subtracting the number sent to the selling floor.

Resident Buying Office – An office that represents many retailers in the same line of business in the central wholesale market providing information about market developments and guidance in purchasing and actual placing of some orders for their clients.

Residual Market Value – The image-enhancing communication about the product or service that remains with the consumer after the sales promotion event is over.

Resource Allocation Models – Models for guiding the allocation of marketing resources. Mathematical programming, decision calculus models, and the analytic hierarchy process are often used.

Resource Rating – The evaluation of resources through the statistical measurement and rating of vendors according to their respective contributions to store volume and profits and quality or dependability of service.

Respondent – A person in survey who is asked for information using either written or verbal questioning, typically employing a questionnaire to guide the questioning.

Response Latency – An amount of time a respondent deliberates before answering a question.

Restraint of Trade – A concept with origin in common law and that embraces acts, contracts, conspiracies, combinations, or practices that operate to prejudice the public interest by unduly obstructing the due course of trade.

Retail Accordion Theory – A theory of retail institutional change that suggests the retail institutions go from outlets with wide assortments to specialized narrow line store merchants and then back again to the more general wide assortment institution. It is also referred to as the general-specific-general-theory.

Retail Establishment – A single or separate place of business principally engaged in the performance of marketing functions, where in or out sales are made primarily to ultimate consumers.

Retail Inventory Method of Accounting – A type of accounting system whereby the closing inventory at cost is determined by the average relationship available for sale during the period.

Retail Life Cycle – A theory of retail competition that states that retailing institutions, like the products they distribute, pass through an identifiable cycle. This cycle can be partitioned into four distinct stages: (1) innovation (2) accelerated development, (3) maturity, and (4) decline.

Retail Reductions – The total of markdowns, discounts to employees and other classes of customer, and stock shortages.

Retail Salesperson – A salesperson employed by a retailer who is involved in selling goods and services to the ultimate consumer in retail stores.

Retail Store – A place of business (establishment) open to and frequented by the general public, and in which sales are made primarily to ultimate consumers, usually in small quantities, from merchandise inventories stored and displayed on the premises.

Retail Structure – The spatial distribution of retail store types, including the composition of groupings of stores, spacing, and relationship to market.

Retailer – A merchant middleman who is engaged primarily in selling ultimate consumers. One retailer may operate a number of establishments.

Retailer Sponsored Cooperative – A form of contractual vertical marketing system that is an example of backward integration. independent retailers organize contractually to form a cooperative that gives them greater market power in dealing with suppliers.

Retailer’s Handling Charge – A sum of money above the face value of a coupon paid by the manufacturer to the retailer as a fee for accepting and initially processing manufacturer-originated coupons.

Retailing – A set of business activities carried on to accomplishing the exchange of goods and services for purposes of personal, family, or household use, whether performed in a store or by some form of non-store selling.

Retailing Mix – Those variables that a retailer can combine in alternative ways to arrive at a strategy for attracting its consumers. The variables usually include merchandise and services offered, pricing, advertising, and promotion, store design, location, and visual merchandising.

Retailing the Invoice – 1. the practice of writing the unit selling prices on vendor’s invoices that serves as the buyer’s authorization. 2. It also refers to extensions of price-quality relationships to as certain total retail value for purposes of the retail inventory method of accounting.

Return to Stock – When a customer returns merchandise to the store for an exchange, credit, or back-money, this process of placing the merchandise into stock again is accompanied by a transaction to return to stock so that the item and the dollar amount are added back to inventory levels.

Return and Allowances from Suppliers – The some of purchased goods returned to the supplier and unplanned reductions in purchase price. This represents a reduction in the cost of purchased items or total purchases. It is also referred to as purchase returns and allowances.

Returns and Allowances to Customers – The dollar sum of goods returned to the store and of reductions in price allowed customers by the store. It is deducted from gross sales to get net sales. It is also referred to as sales return and allowances.

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