Chapter 1.1

These flashcards cover fundamental concepts of retailing, its role in the supply chain, and various types of marketplaces.

Retailing

The process of selling goods and services directly to consumers for personal or family use.

Value Addition

The set of business activities that enhances the value of products and services sold.

Brick-and-Mortar

Physical retail stores where consumers can buy products directly.

Non-Store Retailing

Retail methods that do not involve a physical establishment, such as door-to-door sales or vending machines.

Supply Chain

The system connecting manufacturers to consumers, where retailers play a critical linking role.

B2C (Business to Consumer)

A marketplace type where businesses sell products and services directly to consumers.

B2B (Business to Business)

A marketplace type where businesses sell products and services to other businesses.

C2C (Consumer to Consumer)

A marketplace type where consumers sell products or services to other consumers.