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Introduction to world of retailing
This document provides an introduction to the world of retailing. It defines retailing as business activities that add value to products and services sold to consumers. Retailers are part of the distribution channel between manufacturers and consumers. Retailers add value by providing assortment, breaking bulk, holding inventory, and offering services. Retailing is socially and economically significant due to retail sales, employment opportunities, and role as a global industry. The nature of retailing is changing from traditional mom and pop stores to today's technology-driven retailers.
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Introduction to world of retailing
- 1. Introduction to theWorld of Retailing
- 2.
- 3. 1-3 Retailing Introduction to Retailing Typesof Retailers Multi-Channel Retailing Customer Buying Behavior
- 4. 1-4 Questions ■ What isretailing? ■ What do retailers do? ■ Why is retailing important in our society? ■ What career and entrepreneurial opportunities does retailing offer? ■ What types of decisions do retail managers make?
- 5. 1-5 What is Retailing? Retailing– a set of business activities that adds value to the products and services sold to consumers for their personal or family use A retailer is a business that sells products and/or services to consumers for personal or family use.
- 6. 1-6 Manufacturer’s Perspective The FourP’s of Marketing Distribution Retailers are part of the distribution channel Retailers are part of the distribution channel Product Price Promotion
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- 8. Typical Supply ChainNetwork Suppliers Plants Distribution Centers Customers retailers
- 9. 1-9 A Retailer’s Rolein a Supply Chain Retailers are the final business within a supply chain which links manufacturers to consumers. A Supply Chain is a set of firms that make and deliver a given set of goods and services to the ultimate consumer. Vertical Integration Backward Integration Forward
- 10. How Retailers AddValue ■ Provide Assortment ■ Break Bulk ■ Hold Inventory ■ Offer Services 1-10
- 11. 1-11 How Retailers AddValue The value of the product and service ncreases as the retailer performs functions. Bicycle is developed at manufacturer Bicycle is developed at manufacturer Bicycle is developed in several styles Bicycle is developed in several styles Bicycle is offered in convenient locations in quantities of one Bicycle is offered in convenient locations in quantities of one Bicycle is featured on floor display Bicycle is featured on floor display Bicycle can be bought on credit or put on layaway Bicycle can be bought on credit or put on layaway
- 12. 1-12 Social and EconomicSignificance of Retailing Retail Sales Employment Social responsibility Global player
- 13. 1-13 Nature of RetailIndustry is Changing Mom and Pop Store To Today’s Retailer
- 14. 1-14 Retailing is aHigh Tech Industry Selling Merchandise through the Internet Using Internet to manage supply chains Analyze POS data to tailor assortments to stores Computer systems for merchandise planning and tracking
- 15. 1-15 Opportunities in Retailing: Managementopportunities ■ People with a wide range of skills and interests needed because retailers’ functions include Finance Purchase Accounting Management information system (MIS) Supply management including warehouse and distribution management Design and new product development
- 16. 1-16 Opportunities in Retailing: Entrepreneurialopportunities ■ Retailing provides opportunities for people who want to start their own business ■ Some of the world’s richest people are retailing entrepreneurs ■ Examples of retailing entrepreneurs Sam Walton (Wal-Mart) Jeff Bezos (Amazon.com) Ingvar Kamprad (IKEA) Anita Roddick (the Body Shop) Wal-Mart: Sam Walton IKEA: Ingvar Kamprad
- 17. 1-17 Career Opportunities inRetailing Start Your Own Business Walton Family (Wal-Mart) Fisher (The Gap) Wexner (The Limited) Menard (Menard’s) Marcus (The Home Depot) Kellogg (Kohl’s) Schulze (Best Buy) Levine (Family Dollar) Gold (99Cent Only) List of Retail Entrepreneurs on Forbes 400 Richest Americans
- 18. 1-18 Types of Jobsin Retailing Most entry level jobs are in store management or buying, but there’s… -accounting and finance -real estate -human resource management -supply chain management -advertising -public affairs -information systems -loss prevention -visual merchandising
- 19. 1-19 Wal-Mart’s Retail Mix RetailStrategy Customer Service Location Merchandise Assortment PricingCommunication Mix Store Design And Display
- 20. 1-20 Wal-Mart’s Retail Mix Free-standingStores Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design Location Strategy
- 21. 1-21 Wal-Mart’s Retail Mix Location Pricing Communication Mix StoreDesign and Display Customer Service Large Number of Categories Few Items in Each Category Assortment Strategy
- 22. 1-22 Wal-Mart’s Retail Mix Location Communication Mix StoreDesign and Display Customer Service Merchandise Assortment Low, EDLP Pricing Strategy
- 23. 1-23 Wal-Mart’s Retail Mix CommunicationMix TV and Newspaper Insert Ads Location Pricing Store Design and Display Customer Service Merchandise Assortment
- 24. 1-24 Wal-Mart’s Retail Mix StoreDesign and Display Basic, Special Displays for Products Customer Service Location Merchandise Assortments Pricing Communication Mix
- 25. 1-25 Wal-Mart’s Retail Mix CustomerService Limited Location Merchandise Assortment Pricing Communication Mix Store Design and Display
- 26. 1-26 Claire’s Retail Mix RetailStrategy Customer Service Location Merchandise Assortment PricingCommunication Mix Store Design and Display
- 27. 1-27 Claire’s Retail Mix Enclosedmalls Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design Location Strategy
- 28. 1-28 Claire’s Retail Mix Location Pricing CommunicationMix Store Design and Display Customer Service Jewelry, accessories and cosmetics for tweens and teens Assortment Strategy
- 29. 1-29 Claire’s Retail Mix Location CommunicationMix Store Design and Display Customer Service Merchandise Assortment Modest with Sales Pricing Strategy
- 30. 1-30 Claire’s Retail Mix CommunicationMix TV and Magazine Ads Store Design And Display Customer Service Location Merchandise Assortment Pricing
- 31. 1-31 Claire’s Retail Mix StoreDesign and Display Bright, fashionable and fun boutique layout Customer Service Location Merchandise Assortments PricingCommunication Mix
- 32. 1-32 Claire’s Retail Mix CustomerService Modest Location Merchandise Assortment Pricing Communication Mix Store Design and Display
- 33. 1-33 Macy’s Retail Mix RetailStrategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design and Display
- 34. 1-34 Macy’s Retail Mix EnclosedMalls Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design Location Strategy
- 35. 1-35 Macy’s Retail Mix Location Pricing CommunicationMix Store Design and Display Customer Service Many Items in Apparel and Soft Home Assortment Strategy
- 36. 1-36 Macy’s Retail Mix Location CommunicationMix Store Design and Display Customer Service Merchandise Assortment Moderate with Frequent Sales Pricing Strategy
- 37. 1-37 Macy’s Retail Mix CommunicationMix TV, Newspaper Ads and Special Events Store Design And Display Merchandise Assortment Pricing Customer Service Location
- 38. 1-38 Macy’s Retail Mix StoreDesign and Display Racetrack with Displays Customer Service Location Merchandise Assortments PricingCommunication Mix
- 39. 1-39 Macy’s Retail Mix CustomerService Modest Location Merchandise Assortment Pricing Communication Mix Store Design and Display
- 40. 1-40 Target’s Retail Mix RetailStrategy Customer Service Location Merchandise Assortment PricingCommunication Mix Store Design and Display
- 41. 1-41 Target’s Retail Mix Free-standingStores Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design Location Strategy
- 42. 1-42 Target’s Retail Mix Location Pricing CommunicationMix Store Design and Display Customer Service Large Number of Categories Private Labels Few Items in Each Category Assortment Strategy
- 43. 1-43 Target’s Retail Mix Location CommunicationMix Store Design and Display Customer Service Merchandise Assortment Low to Modest Pricing Strategy
- 44. 1-44 Target’s Retail Mix CommunicationMix TV and Newspaper Insert Ads Store Design And Display Customer Service Location Merchandise Assortment Pricing
- 45. 1-45 Target’s Retail Mix StoreDesign and Display Colorful, wide aisles displays for products with a grid layout Customer Service Location Merchandise Assortments PricingCommunication Mix
- 46. 1-46 Target’s Retail Mix CustomerService Limited Location Merchandise Assortment Pricing Communication Mix Store Design and Display
- 47.