OUR WEEKLY VOCABULARY LESSON
Week 5
A Box Store: In generally a food discounter, offering a limited number of services, brands and a small selection of items. They also operate with a limited opening hours.
Mass Marketing: A form of selling goods and or services to a broad range of consumers
Niche Retailing: A way of using unique retail strategies, focusing on possible new customer segments. Today it is very important to try to detect the possible niches in the market and focus your business strategy on those segments, as they offer a lot of opportunities. It is part of 'being different' than your competitors.
A Planogram: A visual, mainly graphical map of your selling space, where all marketing tools, like situation product groups, merchandise, employees and clients are situated. Vital instrument to start and follow as guideline, during your store setup.
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