RMG 200 Lecture Notes - Lecture 2: Legal Clinic, Product Demonstration, Holt Renfrew

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: David Lewis

Document Summary

Retailing-set of business activities tat adds value to the products and services sold to consumers for their personal or family use: right merchandise, right price, right place, right quantities, right time. Expanding retail breadth- many retailers coexists with traditional retailers, with this, each type of retailer offers a different set of benefits, and thus, consumers patronize different retailers for different purchase occasions. Increasing industry competition- the amount of competition within each retail format is decreasing, allowing consumers to concentrate on the retail format they want/need. Retail characteristics: type or merchandise/services offered, breadth and depth of merchandise offered- number of sku"s (cid:523)stock keeping unit(cid:524) within a merchandise category; also called assortment and depth of stock, level of customer service, price of the merchandise. Renfrew: leased department- area in a store leased or rented to an independent company. Service retailing- organizations that offer consumer"s services rather than merchandise. Examples include banks, hospitals, health spas, doctors, legal clinics, entertainment firms and universities.