Bus425 Chapter1

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  • Bus425 Chapter1

    1. 1. Correction: <ul><li>In the presentation from the first class session there was a typo on the “Grading” slide. </li></ul><ul><li>The correct proportion/amount of points for the Exams are: </li></ul><ul><li>Exams #1 and #2 are 100 points each for a total of 200 points </li></ul><ul><li>The Final Exam is worth 200 points. </li></ul><ul><li>This is consistent to what is shown on the syllabus. </li></ul><ul><li>Sorry if this caused any confusion. </li></ul>
    2. 2. The World of Retailing
    3. 3. Favorite “Refact” <ul><li>Retailer Fred Lazarus, Jr. successfully proposed to the United States Congress that Thanksgiving be set on the fourth Thursday of November to expand the Christmas shopping season. </li></ul>
    4. 4. What is Retailing? <ul><li>Retailing – a set of business activities that adds value to the products and services sold to consumers for their personal or family use. </li></ul><ul><li>A retailer is a business that sells products and/or services to consumers for personal or family use. </li></ul>James Darell/Getty Images
    5. 5. Retail Management Decision Process The World of Retailing <ul><li>Intro </li></ul><ul><li>Types of Retailers </li></ul>3. Multichannel Retailing 4. Customer Buying Behavior <ul><li>9. Org. Structure and HR Mgmt. </li></ul><ul><li>Info Sys. & Supply Chain Mgmt </li></ul><ul><li>Customer Relationship Mgmt. </li></ul>Merchandise Management <ul><li>Planning Merch. Assortments </li></ul><ul><li>Buying Systems </li></ul><ul><li>Buying Merchandise </li></ul><ul><li>Pricing </li></ul><ul><li>Retail Communications </li></ul>Retailing Strategy <ul><li>Retail Marketing </li></ul><ul><li>Financial Strategy </li></ul><ul><li>Retail Locations </li></ul><ul><li>Site Location </li></ul>Store Management <ul><li>Managing the Store </li></ul><ul><li>Store Layout, Design, & Visual Merchandise </li></ul><ul><li>Customer Service </li></ul>
    6. 6. The Distribution Channel Consumer Retailer Wholesaler Manufacturer Point of Production Point of Sale (POS)
    7. 7. The Distribution Channel: VERTICAL INTEGRATION Backward Integration Forward Integration Consumer Retailer Wholesaler Manufacturer
    8. 8. How Retailers Add Value <ul><li>Provide Assortment </li></ul><ul><li>Break Bulk </li></ul><ul><li>Hold Inventory </li></ul><ul><li>Offer Services </li></ul>
    9. 9. Social and Economic Significance of Retailing <ul><li>Economic support - over $3.4 trillion in annual U.S. sales (greater than medical care, housing, recreation combined) </li></ul><ul><li>Community Support - retail employs 27 million people in the U.S. </li></ul>
    10. 10. World’s Largest Retailers
    11. 11. “ Hardest hit were clothing and high-fashion chains.” Shares of J.C. Penney Co., Sears Holdings Corp., Target Corp. and Wal-Mart Stores Inc. all rose. Retailers Post Tepid Growth January 11, 2008 The results confirmed pre-holiday worries that falling home prices and high gasoline prices would crimp consumer spending. Retail Metrics Inc.'s index of December same-store sales rose a scant 0.4%, compared to a 3.2% gain the previous year. The weakness among clothing and jewelry was offset elsewhere by sales of food, health care and pharmaceuticals. Among major discount chains, Wal-Mart Stores said grocery, electronics and pharmacy businesses gained while home decor and apparel sales slipped.
    12. 12. World’s Largest Retailers
    13. 13. Environmental Factors Macro- Environment Competitors Customers Micro- Environment Technology Social Issues Ethical/Legal Issues Political & Economic Issues Environmental Issues RETAILER
    14. 14. Environmental Factors Competitors Customers Micro- Environment RETAILER
    15. 15. Who is my competitor?
    16. 16. Really??
    17. 17. Who is my competition?
    18. 18. Definitely.
    19. 19. I thought they sold coffee...
    20. 20. Who is our customer? HINT: They buy a lot of music, watch a lot of movies, drink a lot of coffee and have a lot of disposable income...
    21. 21. Retail Strategy Decision Areas (Retail Mix) Customer Service Store Design & Display Location Communications Mix Merchandise Assortments Pricing Retail Strategy
    22. 22. Retail Mix: Macy’s Customer Service Retail Strategy Store Design & Display Location Merchandise Assortments Pricing Enclosed Malls Many apparel items and soft home Moderate with frequent sales Communications Mix TV, Newspaper and Special Events Racetrack with displays Modest
    23. 23. Retail Mix: Target Customer Service Retail Strategy Store Design & Display Location Merchandise Assortments Pricing Free-standing stores Many Categories Private Labels Few Items in each category Low to modest Communications Mix TV and Newspaper insert ads Colorful, wide aisles displays for products with a grid layout Limited
    24. 24. Environmental Factors: “Story of Stuff” (on blog) Macro- Environment Competitors Customers Micro- Environment Technology Social Issues Ethical/Legal Issues Political Issues Environmental Issues RETAILER

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