This document provides an overview of retailing. It discusses that retailing adds value to products and services sold to consumers and involves more than just in-store sales. It also outlines the role of retailers in distribution channels, acting as the final link between manufacturers and consumers. The document summarizes key functions of retailers like providing assortments, breaking bulk, holding inventory, and offering services. It also covers theories of retail development and the evolution of retail in India.
Every time you enter a retail store, your shopping experience has been extensively planned, from the items you see for sale to the layout and design of the store. Many times these decisions are made by someone working in retail operations, or the area of retail concerned with the day-to-day functions of stores
Retail Sore, Store management, Responsibilities of store manager, Store objectives, Store design, Principles of store design, Layout, Types of layout, Signage, Feature Areas
Every time you enter a retail store, your shopping experience has been extensively planned, from the items you see for sale to the layout and design of the store. Many times these decisions are made by someone working in retail operations, or the area of retail concerned with the day-to-day functions of stores
Retail Sore, Store management, Responsibilities of store manager, Store objectives, Store design, Principles of store design, Layout, Types of layout, Signage, Feature Areas
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
This presentation is designed for people who sell or market to retailers. It is also suitable for those who are new in a retail business such as management trainees, IT and finance teams.
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
This presentation is designed for people who sell or market to retailers. It is also suitable for those who are new in a retail business such as management trainees, IT and finance teams.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
chapter 10 - excise tax of transfer and business taxation
Introduction to retail
1. Introduction to Retailing
Retailing is the set of business activities that adds value to the
products and services sold to consumers for their personal or
family use
Retailing is not just sale of products in stores; it also involves the
sale of services
Not all retailing is done in stores
2. Retailer's role in a Distribution Channel
A distribution channel is a set of firms that facilitate the movement
of products from the point of production to the point of sale and
finally to the ulimate consumer / customer
Retailers are final business in a distribution channel and link the
manufacturers to the consumers
Manufacturers------->Wholesaler------->Retailer------->Consumer
There are manufacturing retailers (Levis, Polo Ralph Lauren) and
then there are manufacturers who sell products to wholesalers,
who then sell them to retailers (FMCG).
Some retailers also function as wholesalers (Cash 'n' Carry)
3. Retailer's role in a Distribution Channel
A distribution channel is a set of firms that facilitate the movement
of products from the point of production to the point of sale and
finally to the ulimate consumer / customer
Retailers are final business in a distribution channel and link the
manufacturers to the consumers
Manufacturers------->Wholesaler------->Retailer------->Consumer
There are manufacturing retailers (Levis, Polo Ralph Lauren) and
then there are manufacturers who sell products to wholesalers,
who then sell them to retailers (FMCG).
Some retailers also function as wholesalers (Cash 'n' Carry)
4. Functions performed by Retailers
Providing an assortment of products and
services
Breaking bulk
Holding inventory
Providing services
5. Functions performed by Retailers
Providing Assortments
Manufacturers specialise in producing specific types of
products
(Cadbury makes chocolates, Amul makes dairy products,
Kellogg makes breakfast cereals)
If each of these manufacturers had its own stores selling only
its own products, customers would be required to go to many
different stores
All retailers offer assortment of products, but they specialise
in the assortments they offer
Supermarkets (assortments of food, household products,
personal care etc. -----> 20,000 to 30,000 different items from
over 500 companies)
Department stores (assortments of clothing and accessories)
6. Functions performed by Retailers
Breaking Bulk
Manufacturers, to reduce transportation costs, ship large quantities of
merchandise to retailers, who then offer these products in smaller,
manageable quantities to customers
Holding Inventory
Retailers maintain requisite inventory of broken user friendly sizes so that
products will be available when consumers want them thereby
facilitating storage of small inventory of products at customers' homes
This is particularly beneficial for customers with limited storage space and
those who want to purchase perishable merchandise like meat and
dairy produce
7. Functions performed by Retailers
Providing Services
Retailers provide services that make it easier for customers to buy
and use products
Customer Service Associates are the most tangible representatives
of services provided by retailers
Home delivery and product trial are a few other services which
retailers provide
8. Functions performed by Retailers
Value to customers / consumers is provided by the execution of the
above mentioned functions performed by retailers
10. Theories of Retail Development
Environmental – where a change in retail is attributed to the
change in the environment in which the retailers operate
Cyclical – where change follows a pattern and phases can
have definite identifiable attributes associated with them
Conflictual – the competition or conflict between two opposite
type of retailers leads to a new format being developed.
11. Theories of Retail Development
Environmental Theory of Retail Development
Charles Darwin's “Survival of the Fittest” - Natural Selection
Retail institutions are economic entities and are influenced by a
business environment comprising Government policies,
competitors, customers and fast changing technology
Thus the success or failure of a retail institution will depend upon
its capability to manoeuvre to the environmental changes
12. Theories of Retail Development
Cyclical Theory of Retail Development
Entry phase
Low status & price, minimum services, limited product offers, poor services
Trading up phase
Expensive facilities, higher rents, more locations, higher prices, more products
Vulnerability phase
Declining ROI, myopic by nature, scrambled merchandising
13. Theories of Retail Development
Conflictual Theory of Retail Development
Thesis
Antithesis
Synthesis
14. Evolution of Retail in India
Retail in India has evolved to support the unique needs of our country, given
its size and complexity Haats, Mandis and Melas have always been a part of
the Indian landscape. They still continue to be present in most parts of
the country and form an essential part of life and trade in Various areas.
The PDS (Public Distribution System) would easily qualify as the
single largest retail chain existing in the country. the evolution of the PDS
of Grains in India has its origin in the “rationing system” introduced by
the British during World War II
15. Evolution of Retail in India
The system was started in 1939 in Bombay and subsequently extended to
other cities and towns. The system was abolished post war but after
attaining independence, India was forced to reintroduce it in 1950.
There was rapid increase in the ration shops ( being increasingly called the
Fair Price Shop or FPSs)
The Canteen Stores Department (CSD) has also among the largest
network of outlets in the country reaching the defence personnel across
the country.
16. Evolution of Retail in India
The Khadi & Village industries (KVIC) was also set up post independence. The
cooperative movement was again championed by the government.
17. Types of Retailers
Food Retailers
Supercentres
Hypermarkets
Supermarkets
Convenience stores
General Merchandise Retailers
Department Stores
Discount stores
Speciality stores
Home Improvement Centres
Drug stores
Nonstore Retailers
Electronic Retailers
Catalog Retailers
Direct Selling
Vending Machines / Kiosks
Television Home Shopping
18. Variety and Assortment
Variety: represents the number of merchandise categories a retailer offers. It is
often referred to as the Breadth of Merchandise
Assortment: is the number of different items in a merchandise category. It is
often referred to as the Depth of Merchandise
SKU (Stock Keeping Unit): Each different item of merchandise is called an
SKU
19. Food Retailers – Specifications
Type
Variety
Assortment
Size ('000 sq.
ft.)
SKUs ('000)
Supercentre
Very Broad
Very deep
150 - 350
60 - 100
Hypermarket
Very Broad
Deep
100 - 300
40 - 60
Supemarket
Broad
Deep
60 - 100
30
Convenience
Store
Average
Shallow
2-3
1-3
20. General Merchandise Retailers – Specifications
Type
Variety
Assortment
Size ('000 sq.
ft.)
SKUs ('000)
Department
Store
Broad
Deep to
Average
100 - 200
100
Discount Store
Broad
Average to
Shallow
60 - 80
30
Specialty Store
Narrow
Deep
4 - 12
5
Home
Improvement
Centre
Narrow
Very Deep
80 - 120
20 - 40
Drugstore
Narrow
Very Deep
3 - 15
10 - 20
21. Types of Merchandise* – Retail Verticals
Automobile and spares
Furniture and home furnishing stores
Electronics and appliances stores (CDIT)
Building materials and garden equipment and suppliers
Food and beverage stores
Health and personal care stores
Gasoline stations
Clothing and clothing accessory stores
Sporting goods, hobby, books and music stores
General merchandise stores
Non-store retailers
*(North American Industry Classification System (NAICS))
22. Differences between Services and
Merchandise Retailers
Characterstics of a Service
Intangibility
Simultaneous production and consumption
Perishability
Inconsistency of the offering to customers