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commerce 2ma3 exam notes

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Department
Commerce
Course
COMMERCE 2MA3
Professor
Ambika Badh
Semester
Fall

Description
ExamReviewMarketingChapter12RetailerswholesalersdirectmarketersRetailingThreetypesofutilityoTimePlaceandOwnershiputilityWheelofRetailingAsfirmsmovethroughtheircycletheyemphasizemoreonservicesTheyalsoenterbyofferinglowerpricesasyoumoveaheadinthelifecycleyouwillstartconcentratingonservicesandincreasepricesasyoumovethroughoutthelifecycleyouwillkeepprovidinghigherlevelofproductserviceswhileincreasingpricesConveniencefoodstoresareanexceptiontothisruleMerchandisingStrategyresultsinthestoresimage1Identifytheneedsofthetargetmarket2Developmarketingstrategy3Whatthecompetitionisoffering4HowmuchprofitabilitycanyourgoodsprovideyouWhatretailersdevelopwhentheyconsiderfactorssuchasgeneralproductcategoriesspecificproductlinesspecificproductswithinlinesandthedepthandwidthofitsassortmentsCategoryManagementtryingtoidentifyandmanageeachproductlineandidentifywidthlengthanddepthFailureFeesFeeschargedtotheretailersbythemanufacturersifthesalesprojectiondonotmeetacertaincriteriaSurveyFeesFeespaidbythemanufacturerstotheretailerstobeabletosurveytheircustomersPricingStrategyEffectconsumerperceptionMarkupthemoneychargedoverthecostoftheproducttheretailertakesthemarginMarkdowntheamountbywhicharetailerreducestheactualinitialsellingpriceDependsonoTheservicestheretailerisprovidingandtheturnoverrateLocationandDistributionPlannedShoppingcentersNeighbourhoodshoppingcentre515storesgroupedtogetherandtargeting5k15kofpeopleThesestoreshaveconveniencegoodsCommunityshoppingcentre1030storesgroupedtogetherthattarget20000to100000peopleHavefinancialinstitutionsalongwithconveniencegoodsRegionalshoppingcentre200smallstoresgroupedtogetherandtheareais200ksquareftPowercentreWhenanumberofbigboxretailersgrouptogetherheartlandLifestylecentrePlacewhereyouhaveshoppingandentertainmentandrecreationatthesametimePromotionalStrategySellingUpoPersuadingcustomerstobuyhighpriceditemsthatisnottheirinitialintentionSuggestionSellingoBroadeningcustomersoriginallypurchasingintentionbuyingaddonsTypesofRetailers1ChainstoresownedbyasinglegroupfirmCentralownershipandmanagementHandlethesameproducelines2IndependentretailersClassificationofRetailersbyformofProductLines1SpecialtyStoresoHandleonlypartofasingleproductlinethatitstocksinconsiderabledepthorvarietybestbuyphones2LimitedLineRetailersoLimitedlinestoresoneormoreproductlinesikea3CategoryKilleroOnlyoneproductlineinextensivedepthbestbuytechnologiesGeneralMerchandiseRetailersVarietystoresExtensiverangeandassortmentoflowpricemerchandisechargelowpricesandofferfewerservicesDepartmentstoresSeriesoflimitedlineandspecialitystoresunderoneroofhomedepotLookforproductsthatprovidethegreatestprofitabilityMassmerchandisersWiderlineofitemsthandepartmentalstorebutnotthesamedepthDiscountHousesOffPriceRetailersHypermarketsandSupermarketsOffprideretailersAplacewhereyoucanbuydesigneritemsforalowpriceegwinnersHypermarketsGiantonestopshoppingfacilitieswhereyoucangetwiderselectionsofgroceryandgeneralmerchandiseCostcoSupermarketsSimilartohypermarketsbutsmallerinsizemetroRetailConvergenceSituationinwhichsimilarmerchandiseisavailablefrommultipleretailoutletsScrambledMerchandisingRetailingpracticeofcombiningdissimilarproductstoboostsalesvolumeshoppersdrugmartincreasetargetmarkettoincreaseprofitWholesalerIntermediarywhocarrydifferentgoodsWholesalingIntermediaryComprehensivetermthatdescribeswholesalersaswellasagentsandbrokersTradeFairPeriodicshoworganizedbytwoormoremanufacturerstogethertodisplaytheiritemsManufacturersdisplaygoodstosellersMerchandisingMartTemporarylocationrentedbythemanufacturertodisplaytheirmerchandisefleaFullFunctionMerchantIndependentwholesalerswhocarryoutallthefunctionsofmanagingtheinventoryRackJobberFullservicemerchantswhotakecareofoneparticularproductlineLimitedFunctionMerchantCashandCarrywholesalersCarryoutallactivitiesrelatedtomanaginginventoryexceptfinancinganddeliveryTruckwholesalersDealwithperishableitemsalwaysonthegoDropshippersTheydotakethetitleofthegoodstheyaremanagingbutneverseeorphysicallyhandlethegoodsMailorderwholesalersCarryoutalltheactivitiesofmanaginginventorythroughmailingoutcatalogstotheretailtakingordersthroughthemailAgentsandBrokersnevertakethetitleofthegoodsonlyhelpmovethingsCommissionMerchantsTakeapredeterminedpercentageofsalesasacommissionOnlyformanufacturersSellingAgentsFullauthorityofrisingandpromotingmanufacturersgoodAlsoprovidefinancialassistancetothemanufacturerManufacturerRepresentativesIndividualshiredasemployeesbythemanufacturersusuallydoneontemporarybasisandtheyworkinrestrictedterritoriesaDirectMailwhentheselleristryingtocontactthebuyerthroughmailendofthesupplychainbDirectSellingwhenthemanufactureriscontactingthefinalconsumernointermediariesshortsupplychaincDirectResponseRetailingwhenthecustomersarecontactingthedifferentsellersthroughtelephonemaildAutomaticMerchandisingvendingmachinesChapter13CommunicationisthetransmissionofamessagefromsendertoreceiverTheCommunicationProcessTheSenderisthesourceofthecommunicationsystemasheorsheseekstoconveyamessagetoareceiverThereceiverthenencodesthendecodesthemessageandsendsfeedbackFeedbackogivesmarketersthechancetoevaluatetheirmarketingstrategyItcantaketheformofchangesinconsumersattitudepurchasesandnonpurchasesThecommunicationprocessoMarketingManagertransmitsmessagesanddeliversthemessagethroughsalespersonsReceiversorcustomersthenencodedecodethismessageReceiverorcustomermakesdecisionandfinallythecustomerrespondsandbuysproductsfeedback
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