RMG 200 Lecture : Introduction

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: Brent Barr

Document Summary

Strategy planning & leadership = smart > strategies to achieve objectives > plans. Smart = specific, measurable, action oriented, realistic, timely. Needed to build an effective strategy: leadership, knowledge, clearly defined mission, clearly defined objectives, gut or experience, critical thinking, creative thinking, required resources, interconnectivity of resources, controls. Key things to understand: your customers, your company, your competitors, the industry. The flow of information how does it tie together: these are the steps we go through. Retailing is the business activities involved in selling goods and services to consumers. I t includes every sale of goods and services to the final customer. I t is the final stage in the distribution process. Channel of distribution: manufacturing > wholesaler > retailer > customer. Types of distribution: intensive (consumable goods) // selective (certain brands of electronics) // exclusive (clothing hugo. Retailers off many values to the system including: providing assortment, breaking bulk, providing service, and holding.