The document provides an introduction to the field of retailing and retail management. It defines retailing as the activities involved in selling goods and services to final consumers. Examples of major retailers are provided. The document then discusses how retailers add value by breaking bulk, holding inventory, providing assortment, and offering services. It also examines the manufacturer's perspective and considers retailers as a business like manufacturers. Key decision variables and the economic significance of retailing are outlined. The changing nature of the retail industry and its high-tech aspects are briefly explored.

1. Introduction to Retailing Retail Management McGraw-Hill/Irwin Levy/Weitz: Retailing Management, 5/e Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

5. 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.

6. 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

7. Distribution Channel

8. Retailers are a Business Like Manufacturers Accounting Finance MIS Operations Marketing Human Resources

9. Decision Variables for Retailers Customer Service Store Design and Display Merchandise Assortment Communication Mix Location Pricing Retail Strategy

11. Nature of Retail Industry is Changing Mom and Pop Store To Today’s Retailer

12. 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

13. Retail Environment Differs Across the Globe US INDIA Concentration High Medium Store Size Big Small Role of Low Low Wholesaling Efficiency High Low

14. Hot Topic’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design And Display

17. 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