ADMS 2200 Lecture Notes - Lecture 4: Markdown, Category Management, Convenience Food

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Datelina

Document Summary

Retailing: activities involved in selling merchandise to ultimate consumers. Represent the distribution channels since consumers do not deal with manufacturers. They determine location, store hours, number of sales personnel, store layouts, merchandise selection, and return policies- factors that often influence the consumers images of the offerings more strongly than consumers images of the product themselves. Sell to ultimate consumer and buy from wholesalers/manufacturers. Early retailing can be traced to the establishment of trading posts, hudson bay company. First type of retail institution, the general store, stocked a wide range of merchandise that met the needs of an isolated community. 1930s= supermarkets appeared due to desire for lower prices. 1950s= discount stores delivered lower prices in exchange for reduced services. 1960s= convenience food stores emerged to satisfy desire for fast service, convenient locations and longer hours. 1980s/1990s= off-price retailers reflected consumer demand for brand names at lower prices than traditional retailers.