ADMS 2200 Lecture Notes - Lecture 10: Integrated Marketing Communications, Sales Promotion, Inventory Turnover

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

Document Summary

(retailers, wholesalers, and direct marketers & integrated marketing communications) Retailing-activities involved in selling merchandise to ultimate consumers. Wheel of retailing-hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services. *marketers need to understand the pattern on change in the retail market/s for effective strategic. Retailer"s strategies are based on the businesses goals and strategic. Two major steps in the retail marketing strategy: selecting target market, developing a retail mix to satisfy this market. Consider size and profit potential of the market and the level of competition. ^eg: walmart draws customers away from traditional department stores with trendy but affordable lines of clothing. ^importance of identifying and the targeting the right market and marketing strategies to attract the targeted customers. While developing the merchandise mix, retailers should consider: ^overall profitability of each product line and category. Guides retailer"s decisions on the items it will offer.