BUSML 3250 Study Guide - Final Guide: Data Mining, World Trade Organization, How To Deal
4 Oct 2018
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Retailing: involves all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use. Retailers: a (cid:374)osi(cid:374)ess (cid:449)ho(cid:859)s sales (cid:272)o(cid:373)e p(cid:396)i(cid:373)a(cid:396)il(cid:455) f(cid:396)o(cid:373) (cid:396)etaili(cid:374)g, t(cid:396)illio(cid:374) i(cid:374) sales to fi(cid:374)al customers. Together these business models have invented american retailing. Chain stores: two or more stores with the same owner or way of doing business, the only institution gaining market share, ex: walmart, kroger, dominate most of the retail category except bars, Uses the cookie cutter appraoch: develop a model that works and then crank out a lot of stores. I 1960, they were 50% of retail stores, today, they are 85% of retail stores. Cost advantage is their biggest one bc buying for 100 stores is cheaper then buying for. 10, aka bigger you get the more efficient you get. Food supermarkets: created in 1930s, developed by someone outside the food business, first self serve and first discount retailor,
