BU352 Chapter Notes - Chapter 14: Costco, Future Shop, Hypermarket
Document Summary
Retailing the set of business activities that add value to products and services sold to consumers for their personal or family use; includes products bought at stores, through catalogues, and over the. Internet, as well as services like fast-food restaurants, airlines, and hotels. Wholesalers those firms engaged in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods to retailers or industrial or business users. The big middle refers to that part of the market in which the most successful retailers compete because the biggest potential customer base resides there. A firm does not have to be in the big middle to be successful in the short term, and successful firms typically do not start there. Middle through innovations in products, formats, or operational excellence or some combination of these that lead to great value. If firm has low-price they can move towards big-middle segment.
