Firms that are retailers and wholesalers that sell to other business as well as consumers:
-Metro,Office Depot(Stationery products).
How Retailers Add Value
-Buy it in quantities customers want
-Buy it at a convenient place when you want it
-Buy other products at the same time
-See it before you buy, get credit,discount etc.
How Retailers Add Value Doll can be bought on credit or cash. Doll is featured on floor display Doll is offered in convenient locations in quantities of one Doll is developed in several styles Doll is developed at manufacturer The value of the product and service increases as the retailer performs functions.
Manufacturer’s Perspective The Four P’s of Marketing Distribution Retailers are part of the distribution channel Retailers are part of the distribution channel Product Price Promotion
Retailers are a Business Like Manufacturers Accounting Finance MIS Operations Marketing Human Resources
Decision Variables for Retailers Customer Service Store Design and Display Merchandise Assortment Communication Mix Location Pricing Retail Strategy
Economic Significance of Retailing
Over 1lak cr in sales
Employs 7% of population
-about the same as manufacturing and growing.
Management training opportunities
Nature of Retail Industry is Changing Mom and Pop Store To Today’s Retailer
Retailing is a High Tech Industry - Selling Merchandise over the Internet eg:ebay etc - Using Internet to manage supply chains - Analyze POS data to tailor assortments to stores - Computer systems for merchandise planning
Retail Environment Differs Across the Globe US INDIA Concentration High Medium Store Size Big Small Role of Low Low Wholesaling Efficiency High Low
Hot Topic’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design And Display
Misconceptions About Careers in Retailing
Don’t need college education
Everyone is part-time
Why You Should Consider Retailing
Entry level management positions
-Department manager or FloorManager.
-Manage and have P&L responsibility on your first job
Starting pay will be average with great benefits
- Store Staff are hired from XII Class onwards.
No two days are alike.
Worklife is challenging everyday.
Management of people is a major role.
Types of Jobs in Retailing Most entry level jobs are in store management or buying, but… retailers also have staff specialists: --accounting and finance --real estate/Landteam --human resource management --supply chain management --advertising/promotions --public affairs