MKT 101 Lecture Notes - Lecture 16: Capital Requirement, Great Clips, Variety Store

• School: Hofstra University
• Department: Marketing (MKT)
• Course: MKT 101
• Professor: Hamby

Document Summary

Retailing is the final stage in a channel of distribution. Yes, ex: cotsco and home depot selling to small business and final consumers. Retailing functions are performed by any firm selling merchandise/providing services to the final consumer. Retailer is the entity interacting with the final consumer. Retailers want millennials to have a good experience that they will tell people about, better basics (good quality), and convenience. Retailers make the connection between wholesaler and final consumer, whereas wholesalers make the connection between the manufacturer and retailer. Retailers ha(cid:448)e higher pri(cid:272)e (cid:272)o(cid:373)petitio(cid:374) (cid:271)e(cid:272)ause the po(cid:449)er is i(cid:374) the (cid:272)o(cid:374)su(cid:373)ers" ha(cid:374)ds (there are so many retailers) Need less capital requirement, ex: selling online. Focuses on a bigger amount of products. Retailers have a limited to a specific area, whereas manufacturers ship everywhere. Art of selling and advertising are exclusive to retailers. Average retail sale per trip is small (vs b to b transactions) Annual u. s. retail store sales are trillion.