Issues about ethics in retailing
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This document discusses ethics in retailing. It defines ethics as explicit or implicit codes of moral behavior for retailers. It discusses issues like misuse of company assets, confidentiality, and employee theft. It also outlines various legal and ethical constraints retailers must consider, such as federal and state laws regarding pricing, promotions, products, and human resources. Overall, the document provides an overview of key ethical and legal issues retailers face.
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Legal & ethical issues in retailing
This document discusses legal and ethical issues in retailing. It covers two main categories of issues - ethical issues and legal issues. Ethical issues relate to explicit and implicit codes of conduct, while legal issues involve laws that make certain activities punishable. Specific topics covered include misuse of company assets, employee theft, consumer fraud, ethics policies, relationships with customers, site location considerations regarding environmental and zoning laws, equal employment opportunities, compensation, employee safety and privacy laws, and unethical advertising practices. Unethical purchasing practices for merchandise such as terms and conditions, commercial bribery, and chargebacks are also examined.
Introduction to Retailing
This document provides an overview of a retail sales management and services marketing syllabus. It includes:
1) An introduction to retailing concepts like the definition of a retailer, their roles, and characteristics.
2) Details about the retail sector globally and in India, including its economic significance.
3) Explanations of different types of retailers based on ownership, merchandise, and format.
4) Components of the retail marketing mix like product, price, place, promotion, people, customer service, and store presentation.
5) Approaches to retail market segmentation, targeting, and positioning.
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Family is defined as two or more related individuals living together. There are two types of households - family households consisting of related individuals, and institutional households like hostels. Families provide economic support, emotional support, social relationships, morals/values, and more. There are traditional family types like nuclear families and extended families, as well as new types like blended families and single parent families. A family's purchasing decisions are influenced by its stage in the family life cycle, which includes stages like newly married, parenthood, and post-parenthood. Roles in family decision making include influencers, deciders, buyers, and users. Decisions are made through processes like bargaining, authority, or reasoning.
Merchandise planning 26.05.18
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
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The document discusses consumer decision making and relationship marketing. It covers levels of consumer decision making from extensive problem solving to routinized response behavior. It also discusses four models of consumer decision making: economic, passive, cognitive, and emotional views. Finally, it discusses relationship marketing, which aims to create strong relationships between customers and businesses.
Retail theories
This document outlines three main theories of retail development: environmental, cyclical, and conflictual. The environmental theory states that retailers must adapt to changes in their operating environment like technology, the economy, and demographics in order to survive. The cyclical theory includes the wheel of retailing and accordion theory, which propose that retailers go through different phases or change formats over time. Finally, the conflict theory suggests that new retail formats emerge through a dialectic process as different types of retailers compete with each other and eventually blend to create innovative new formats.
Retail pricing
The document discusses several key considerations for retailers in setting prices, including customer price sensitivity, competition, costs, and legal/ethical issues. It explains that value is perceived benefits divided by price, so retailers can increase sales by raising benefits or lowering prices. It also discusses factors like competition, economic conditions, price adjustments, and strategies like everyday low pricing, odd pricing, and using gross margin return on investment to evaluate product profitability.
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Legal & ethical issues in retailing
This document discusses legal and ethical issues in retailing. It covers two main categories of issues - ethical issues and legal issues. Ethical issues relate to explicit and implicit codes of conduct, while legal issues involve laws that make certain activities punishable. Specific topics covered include misuse of company assets, employee theft, consumer fraud, ethics policies, relationships with customers, site location considerations regarding environmental and zoning laws, equal employment opportunities, compensation, employee safety and privacy laws, and unethical advertising practices. Unethical purchasing practices for merchandise such as terms and conditions, commercial bribery, and chargebacks are also examined.
Introduction to Retailing
This document provides an overview of a retail sales management and services marketing syllabus. It includes:
1) An introduction to retailing concepts like the definition of a retailer, their roles, and characteristics.
2) Details about the retail sector globally and in India, including its economic significance.
3) Explanations of different types of retailers based on ownership, merchandise, and format.
4) Components of the retail marketing mix like product, price, place, promotion, people, customer service, and store presentation.
5) Approaches to retail market segmentation, targeting, and positioning.
Consumer Behaviour -Family, social class & life cycle
Family is defined as two or more related individuals living together. There are two types of households - family households consisting of related individuals, and institutional households like hostels. Families provide economic support, emotional support, social relationships, morals/values, and more. There are traditional family types like nuclear families and extended families, as well as new types like blended families and single parent families. A family's purchasing decisions are influenced by its stage in the family life cycle, which includes stages like newly married, parenthood, and post-parenthood. Roles in family decision making include influencers, deciders, buyers, and users. Decisions are made through processes like bargaining, authority, or reasoning.
Merchandise planning 26.05.18
Key measure of the retailer’s success is selling as much merchandise as possible at the highest profit margin.
Retailers can no longer depend on random sourcing / buying in the hope that they will sell them all.
There are two major areas of profit leakage in retail. Firstly - lost sales resulting from lack of stock, and secondly - forced margin reductions (markdown) due to excessive stock.
There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit. That is "Merchandise Planning".
Merchandise Planning is "A systematic approach by the retailer, aimed at maximising return on investment, through sales & inventory planning, in order to increase profitability”.
Main goal of Merchandise planning is to maximize the use of assets, and resources a company owns.
In the long run, effective merchandise planning can save time, help streamline business processes and objectives, and optimize and mobilize inventory to get it off the shelves into the hands of the consumers for the right price.
Chapter 16 Consumer Buying Decision
The document discusses consumer decision making and relationship marketing. It covers levels of consumer decision making from extensive problem solving to routinized response behavior. It also discusses four models of consumer decision making: economic, passive, cognitive, and emotional views. Finally, it discusses relationship marketing, which aims to create strong relationships between customers and businesses.
Retail theories
This document outlines three main theories of retail development: environmental, cyclical, and conflictual. The environmental theory states that retailers must adapt to changes in their operating environment like technology, the economy, and demographics in order to survive. The cyclical theory includes the wheel of retailing and accordion theory, which propose that retailers go through different phases or change formats over time. Finally, the conflict theory suggests that new retail formats emerge through a dialectic process as different types of retailers compete with each other and eventually blend to create innovative new formats.
Retail pricing
The document discusses several key considerations for retailers in setting prices, including customer price sensitivity, competition, costs, and legal/ethical issues. It explains that value is perceived benefits divided by price, so retailers can increase sales by raising benefits or lowering prices. It also discusses factors like competition, economic conditions, price adjustments, and strategies like everyday low pricing, odd pricing, and using gross margin return on investment to evaluate product profitability.
Consumer Attitude Formation and change
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Attitude
What Are Attitudes?
Structural Models of Attitudes
Tricomponent Attitude Model
Multiattribute Attitude Models
A Simplified Version of the Theory of Reasoned Action
Theory of Trying to Consume
Attitude-Toward-the-Ad Model
Changing the Basic Motivational Function
Elaboration Likelihood Model (ELM)
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This document discusses factors retailers consider when selecting store locations and evaluating trade areas. Key factors include economic conditions, competition, fit with the target market, and operating costs of the area. When evaluating a specific site, retailers examine characteristics like traffic flow, location, and costs. They also analyze the trade area to understand customer demographics, size of the primary trading zone, and sales potential. Common tools used include census data, GIS mapping, and models like Huff's gravity model or regression analysis.
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This document discusses retailing and the retail sector in India. It defines retailing and provides characteristics of retailing businesses. It outlines the importance and functions of retailing, as well as the main activities involved. The document then discusses the evolution of retailing in India from traditional formats like markets to more modern formats. It analyzes drivers of change in the Indian retail sector and challenges to retail development. Finally, it compares the Indian retail scenario to global retailing.
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Developing merchandising plan
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Retail promotion strategy
Retail Promotional Strategy discusses elements of a retailer's promotional mix including advertising, sales promotions, store atmosphere, websites, personal selling, and publicity. It emphasizes that a retailer's promotional efforts must fit their overall strategy. The document outlines objectives for promotions such as increasing sales and traffic. It also discusses guidelines for promotions including utilizing promotions consistent with store image. Elements of the promotional mix like advertising, public relations, and personal selling are described along with their advantages and disadvantages.
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Merchandise management
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PRINCIPLE:
· Defined as laws that promote competition and prevent trusts, monopolies, or other business combinations that restrain trade (Graham, Baxter, & Davis, 2003)
· Designed to strengthen and maintain fair competition in the economy
· Legislation to control monopolies and restrictive practices in favor of competition
· Prevents monopoly, prohibits anti-competitive behavior, and unfair and deceptive business practices
· Fosters competition and protects consumers (Lawrence, Weber, & Post, 2005, p.188)
PRACTICE:
· Antitrust or competition law is a generally accepted practice in the U.S. and other developed nations
· Opinions vary on the effectiveness of antitrust laws due to vagueness in legislation
· Antitrust has become a standard of business operations throughout the world
· Derived from U.S. law originally structured to combat business trusts, commonly known as cartels
· Viewed as an alternative to regulation
PARTICULARS:
· Antitrust law originated in reaction to a public outcry over trusts – corporate monopolies at the turn of the twentieth century (1890)
· Protect and preserve economic competition
· Prohibit deceptive and unfair business practices
· Protect small businesses from economic pressures exerted by big business competition
· Preserve values and customs of rural America (Lawrence, Weber, & Post, 2005, p.192-193)
· Five (5) major issues of antitrust policy (Meier et al, 1998, p.75-108)
· Monopolies and trusts
· Collusive behavior
· Mergers
· Price discrimination
· Exclusionary practices
· Prohibited activities include (Antitrust Resource Manual, n.d., n.p.)
· Bid rigging; form of price fixing and market allocation
· Predatory pricing; practice of selling a products at low prices with intent of driving competitors out of the market, creates a barrier to market entry
· Price fixing; agreement between business competitors regarding pricing
· Tying; practice of making sale of one good conditional on purchase of another
· Vendor lock-in; situation in which a customer is dependent on a vendor
· Geographic allocation; agreement between competitors not to compete within territories
· Walker process fraud; illegal monopolization through maintenance and enforcement of a patent obtained via fraud
PERSONS:
· Champions of Antitrust: (Werden, 1992)
· Senator John Sherman (Ohio); sponsored legislation – led to Sherman Antitrust Act
· Congressman Henry De Lamar Clayton (Alabama); sponsored legislation – led to Clayton Antitrust Act, also known as the Antimerger Act
· Senator Joseph Robinson (Arkansas) and Congressman John Wright Patman (Texas); sponsored legislation – led to Robinson-Patman Act
· Congressman Emanuel Celler (New York) and Senator Carey Kefauver (Tennessee); sponsored legislation – led to Celler-Kefauver Act
· Senator Philip Hart (Michigan), Senator Hugh Scott (Pennsylvania), and Congressman Peter Rodino (New Jersey); sponsore.
What do Trade Creditors need to know about Antitrust Laws
Information on credit management and the federal anitrust laws. Includes antitrust statutes, enforcement and penalties, etc.
What do Trade Creditors Need to Know
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6XZ1799
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Wk6 2 gov1
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4Political and Regulatory ClimateLearning .docx
4
Political and Regulatory Climate
Learning ObjectivesList and explain the political motivations behind government actions that promote or restrict international marketing. Identify pressure groups that affect international marketing. Discuss specific government actions salient to international marketing, such as boycotts and takeovers. List and compare the four basic legal traditions that marketers encounter worldwide. Cite examples illustrating how national laws can vary and change. Differentiate between the steps involved in managing political risk and those involved in planning for regulatory change.
Chapter OverviewHost country political climateHost government actionsHome country political forcesLegal environmentsNational regulatory environmentsManaging political riskGlobal marketing and terrorism
*
Self-preservationSecurityProsperityPrestigeIdeologyCultural identity
Political Motivations of Host Countries
*
Host Country ActionsGovernment subsidiesOwnership restrictionsOperating conditions
Work permits
Local content requirements
*
TakeoversTakeovers = Host-government actions that result in a firm’s loss of ownership or direct controlAn expropriation is a formal seizure of an operationA confiscation is an expropriation without compensation
*
Home Country ActionsGuided by the same six interests as host countries
U.S. embargo of Cuba
U.S. anti-Arab boycott legislationOften home countries seek multilateral actions to increase their bargaining power
*
Legal EvolutionProduct liabilityBankruptcyRegulating cyberspace
*
Human Nature Orientation (HNO)Positive HNO – assume people can be trusted to obey the rules
Negative HNO – assume people cannot be trusted to obey the rules
*
Attitudes Toward RulesAttitudes toward rules are affected by two criteria:
Level of power distance
Type of human nature orientation
*
Managing Regulatory Change
Alter
Bargain to get government to change regulations
Avoid
Move to bypass the impact of the regulation
Accede
Comply
Ally
Avoid some risks by seeking strategic alliances
*
Political Risk
Political risk is the possibility that an unexpected and drastic change due to political forces will result in adverse circumstance for business operations
*
Regulatory Change Versus Political Risk Regulatory Change
More moderate and predictable changes in the business environment Political risk
More unexpected and drastic changes
*
Managing Political RiskFighting the battle on two fronts:
Perfect intelligence systems to avoid being caught unaware when changes disrupt operations
Develop risk-reducing strategies that help limit their exposure, or the losses they would sustain, should a sudden change occur
*
Terrorism Affects
International MarketingStarbucks pulled out of Israel because they feared a terrorist attackGE criticized by a senator for taking “blood money” from a state that supports terrorism (Iran)Global tourism and education .
Ethical issues and marketing mix
This document discusses marketing ethics and provides definitions and frameworks. It addresses factors that influence ethical decision making in marketing, including individual, organizational, and opportunity factors. Ethical issues related to the marketing mix of product, price, place, and promotion are explored. The roles of laws, regulatory authorities, and codes of conduct in governing ethical marketing practices are also summarized. Overall, the document outlines the importance of ethics in marketing and gaining consumer trust.
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Ocean lotus Threat actors project by John Sitima 2024 (1).pptx
Ocean lotus Threat actors project by John Sitima 2024 (1).pptx
みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
Issues about ethics in retailing
- 1. ISSUES ABOUT ETHICS IN RETAILING WHAT IS ETHICS? This is a set of rules for human moral behavior. For retailers they can have explicit code of ethics or implicit code of ethics. Explicit code of ethics: Written policy that specifies what is ethical and unethical behavior. Implicit: Unwritten but well understood set of rules/standards of moral responsibilities.
- 2. DISCUSSION ON ETHICS IN RETAILING Misuse of Company Assets Confidential codes Employee Theft
- 3. LEGAL & ETHICAL BEHAVIOR IN RETAILING In view of the competitive nature and dynamic environment within which retail operates, it is important to monitor the legal and ethical constraints affecting the sector (Dunne and Lusch, 1999, pp.176).
- 4. LEGAL & ETHICAL BEHAVIOR IN RETAILING Major Federal Laws Pricing constraints Promotional constraints Product constraints Channel constraints (see Dunne and Lusch, 1999, pp.177).
- 5. LEGAL AND ETHICAL BEHAVIOR IN RETAILING Other Federal Laws Mergers/Acquisitions Trade Agreements Human Resources Taxes and SEC (Securities & Exchange Commission) regulations Americans with Disabilities
- 6. LEGAL AND ETHICAL BEHAVIOR IN RETAILING State and Local Laws Zoning Unfair Trade Practices Building Codes Blue Laws Franchise Laws Green River Ordinances State Licences
- 7. LEGAL AND ETHICAL BEHAVIOR IN RETAILING Ethical Behavior Buying Merchandise Selling Merchandise Retailer Employee – Relationship
- 8. PRICING CONSTRAINTS Horizontal price fixing This occurs when a group of competing retailers (or other channel members, i.e. within the horizontal or vertical distribution levels) establishes a fixed price at which to sell certain offerings.
- 9. PRICING CONSTRAINTS Vertical price fixing This occurs when a retailer collaborates with the manufacturer or wholesaler to resell an item at an agreed-on price.
- 10. PRICING CONSTRAINTS Deceptive pricing This occurs when a misleading price is used (usually through direct marketing etc.) to lure customers into the store. Usually there are hidden charges or even an item may not be available. Mr. Edward Heath (former British PM and the incident of winning a lottery).
- 11. PRICING CONSTRAINTS Predatory pricing This occurs when a retail chain charges different prices in different geographic areas (e.g. another state) to eliminate/fight competition in that state. The case of prices of goods in New York and DC (e.g. Sears, Macys etc.).
- 12. PROMOTIONAL CONSTRAINTS Retail promotion decisions are constrained by two major pieces of federal legislation (a) the FTC Act and (b) the Wheeler-Lea Amendment. These are meant to prevent unfair trade practices. These refer to deceitful diversion of patronage (falsehoods about other competitors), deceptive advertising, and deceptive sales practices.