Marketing Retail Management Notes
...Office, Hair Salon, etc.)
As long as there is a monetary transaction; can be tangible or IN-tangible
What is RETAILING?
RETAILING is a set of business activities that adds value to the products and services sold to consumers for their personal or family use.
A RETAILER is a business that sells products and/or services to consumers por personal or family use.
THE CHANNEL OF DISTRIBUTION
Manufacturing Wholesaler Retailer Consumer
*In some cases, steps can be eliminated to save money & increase profit
Manufacturing, Wholesaling, and Retailing
Vertical Integration- firm performs more than one set of activities
Ex. Retailer invests in wholesaling or manufacturing
Backward Integration- retailer performs some distribution and manufacturing activities
Ex. JCPenny sells Arizona Jeans (Private Label)
Forward Integration- manufacturers undertake retailing activities
Ex. Ralph Lauren operates its own stores
Friday, January 18, 2008
*4 Functions of a Retailer*
1. Provides an assortment of products and services
2. Breaking Bulk Breaking down large shipments so products can be distributed accordingly
3. Holding Inventory to keep inventory ready for purchase; works hand-in-hand with "breaking bulk"
4. Providing services (lay-away, catalogs, cleanliness, etc.)
*These 4 functions create value for the retailers
Changes in the Retail Industry
Technology- self check-out, TV shopping, online shopping
Customer Service
Product Knowledge of sales associates
Store Hours
MKT 307 Retail Mgt Wednesday, January 23, 2008
List of retail entrepreneurs among Forbes top 400
Walton Family (Wal-Mart)
Fisher (The Gap)
Wexner (Limited)
Menard (Menard's
Marcus, Bank (Home Depot)
Kellogg (Kohl's)
Schulze (Best Buy)
Levine (Family Dollar)
You are faced with an Ethical Decision: What Can You...
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