Retail Chap1

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Retail Chap1

  1. 1. Introduction to the World of Retailing Chapter 1 McGraw-Hill/Irwin Levy/Weitz: Retailing Management, 5/e Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
  2. 2. <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>What is Retailing?
  3. 3. How Retailers Add Value <ul><li>Breaking Bulk </li></ul><ul><li>-Buy it in quantities customers want </li></ul><ul><li>Holding Inventory </li></ul><ul><li>-Buy it at a convenient place when you want it </li></ul><ul><li>Providing Assortment </li></ul><ul><li>-Buy other products at the same time </li></ul><ul><li>Offering Services </li></ul><ul><li>-See it before you buy, get credit, layaway </li></ul>
  4. 4. 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
  5. 5. Distribution Channel
  6. 6. Retailers are a Business Like Manufacturers Accounting Finance MIS Operations Marketing Human Resources
  7. 7. Decision Variables for Retailers Customer Service Store Design and Display Merchandise Assortment Communication Mix Location Pricing Retail Strategy
  8. 8. Retailing is a High Tech Industry - Selling Merchandise over the Internet - Using Internet to manage supply chains - Analyze POS data to tailor assortments to stores - Computer systems for merchandise planning
  9. 9. Globalization of Retailing Source Merchandise From Around the World Wal-Mart Operates in U.S., China, Mexico, UK, Germany Carrefour has Stores in 25 Countries
  10. 10. Hot Topic’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design And Display
  11. 11. Wal-Mart’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design And Display
  12. 12. Wal-Mart’s Retail Mix Free-standing Stores Location Strategy Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design
  13. 13. Wal-Mart’s Retail Mix Location Pricing Communication Mix Store Design and Display Customer Service Large Number of Categories Few Items in Each Category Assortment Strategy
  14. 14. Wal-Mart’s Retail Mix Low, EDLP Pricing Strategy Location Communication Mix Store Design and Display Customer Service Merchandise Assortment
  15. 15. Wal-Mart’s Retail Mix Communication Mix TV and Newspaper Insert Ads Location Pricing Store Design and Display Customer Service Merchandise Assortment
  16. 16. Wal-Mart’s Retail Mix Store Design and Display Basic, Special Displays for Products Customer Service Location Merchandise Assortments Pricing Communication Mix
  17. 17. Wal-Mart’s Retail Mix Customer Service Limited Location Merchandise Assortment Pricing Communication Mix Store Design and Display
  18. 18. Why You Should Consider Retailing <ul><li>Entry level management positions </li></ul><ul><li>-Department manager or assistant buyer/planner </li></ul><ul><li>-Manage and have P&L responsibility on your first job </li></ul><ul><li>Starting pay average with great benefits </li></ul><ul><li>- Some retailers pay graduate school </li></ul><ul><li>No two days are alike </li></ul><ul><li>Buying for financially oriented people </li></ul><ul><li>Management for people people </li></ul>
  19. 19. 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 --human resource management --supply chain management --advertising --public affairs

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