intrototretailing

7/28/2019 intrototretailing

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PPT 1-1 Consumer Behavior Ignacio J. Vzquez E. 2007

McGraw-Hill/IrwinLevy/Weitz: Retailing Management, 5/e Copyright 2004 by The McGraw-Hill Companies, Inc. All rights reserved.

Introduction

to Retailing

Retail Management


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Retailing includes all the activities involved in

selling the goods&services to the final

consumer for personal,family, householduse or

for nonbusiness purpose .

Retail The word retail is derived from a french

word retaillierwhich means to cut off a piece

or to break bulk.

What is Retailing?


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Examples of Retailers

Retailers:

-Reliance Retail, KFC, McDonalds,

More,Subiksha,Spencers,VishalRetail,Bigbazar etc

Firms that are retailers and wholesalers that

sell to other business as well as consumers:

-Metro,Office Depot(Stationery products).


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How Retailers Add Value

Breaking Bulk

-Buy it in quantities customers want

Holding Inventory

-Buy it at a convenient place when you want it

Providing Assortment

-Buy other products at the same time

Offering Services

-See it before you buy, get credit,discount etc.


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Doll can be bought

on credit or cash.

Doll is featured on

floor display

Doll is offered in

convenientlocations in

quantities of oneDoll is developed in

several styles

How Retailers Add Value

Doll is developed at

manufacturer

The value of the product and service increasesas the retailer performs functions.


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Manufacturers Perspective

The Four Ps of Marketing

Distribution

Retailers are part of the

distribution channel

Retailers are part of the

distribution channel

Product

Price

Promotion


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Distribution Channel

Distribution ChannelPPT 1-4



Accounting Finance

MISOperations

Marketing

Human Resources

Retailers are a Business Like Manufacturers



Decision Variables for Retailers

Customer Service

Store Designand Display

MerchandiseAssortment

Communication

Mix

LocationPricing

Retail

Strategy



Economic Significance of Retailing

Over 1lak cr in sales

Employs 7% of population

-about the same as manufacturing and growing.

Management training opportunities

Entrepreneurial opportunities



Nature of Retail Industry is Changing

Mom and Pop Store

To Todays Retailer



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



Retail Environment Differs Across the Globe

US INDIAConcentration High Medium

Store Size Big Small

Role of Low Low

Wholesaling

Efficiency High Low



Hot Topics Retail Mix

Retail Strategy

Customer Service Location

Merchandise

Assortment

PricingCommunication

Mix

Store Design

And Display



Misconceptions About Careers in Retailing

Dont need collegeeducation

Low pay

Long hours

Boring

Dead-end job

No benefits

Everyone is part-time

Unstable environment



Why You Should Consider Retailing

Entry level management positions

-Department manager or FloorManager.

-Manage and have P&L responsibility on your first job

Starting pay will be average with great benefits

- Store Staff are hired from XII Class onwards.

No two days are alike.

Worklife is challenging everyday.

Management of people is a major role.


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Types of Jobs in Retailing

Most entry level jobs are instore 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

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