Customer Service Chapter 1.1 What is Retail? Vocabulary

2. a type of retailer who only sells merchandise online.
4. _____are sold but are intangible, meaning you physically own it or bring it home.
5. a retailing channel, with the focus on creating a seamless consumer experience through any and all shopping channels
7. a company the is typically limited to one or a small number of owner investors.
11. a physical storefront and face-to-face customer experience
12. Receives, stores, displays, and presents the products to customers
16. ECOSYSTEM an interconnected system of approaches for meeting the goal of retailing
17. _____are physical goods that are bought and sold, also called merchandise
18. _____ are people who purchase goods or services from a retailer.
20. produces the product
21. the method by which customers acquire goods and services
22. Selling that uses salespeople to contact customers directly in a convenient location, often at a customer's home

1. _____ is a facility that stores finished goods before they're picked, packed and shipped to fulfill customer orders
3. The license granted to another party to market a company's goods or services in a particular territory
6. the way in which a good or service passes through multiple businesses until it reaches the end consumer
8. Buying and selling through the Internet via an electronic device
9. A company that operates multiple stores under common ownership, and usually has centralized decision-making
10. a type of retailer that started online and continue to do all their business online (has no storefront)
13. a type of establishment, typically, a single store or a small, regional chain
14. a retail channel with customer transactions possible through multiple connected channels
15. buys large quantities of products directly from the manufacturer, breaks them into smaller units; sells the smaller units to retailers
19. the process of selling products or services to customers to earn a profit