RMG 400 Lecture Notes - Lecture 3: Constant Contact

• School: Ryerson University
• Department: Retail Management
• Course: RMG 400
• Professor: Janice Rudkowski

Document Summary

Week 3 obtaining assistance for making buying decisions. Systematic process of gathering, recording, and analyzing info about problems related to marketing. Key advantage is that it specifically relates to problem being researched. Obtaining primary data may be time-consuming and expensive. Must draw conclusions and make recommendations based on your interpretation of data collected. Can inform you about what merch heavily ordered by other retailers. Reorders give excellent indication of customer acceptance of specific products. Organizations located in major market centre for purpose of providing buying advice + other market-related services to client stores. Serve as researches and advisors to save the store buyer time and money. Rapidly changing fashion req. buyer have constant contact w/ market. Bring retail stores together to pool info/knowledge. Pool orders from several member stores to make purchases @ one time for lower cost. As many retailers become larger, there will be very strong need by smaller retailers to band together to compete.