RMG 200 Study Guide - Final Guide: Warehouse Club, Sita, Home Improvement

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: Ken Wong

Document Summary

Retailing: set of business activities that adds value to the product/services sold to consumers for their personal/family use. Retailer: business that sells products and services to consumers for their personal or family use (right merchandise, price, place, + quantities at right time) Function: provide product/service, break bulk (receive large quatities), hold inventory, provide service and services (various method of payment, staff) Distribution channel: set of firms that facilitate the movement of products from the point of production to the point of sale to the ultimate consumer (manufacturing, wholesaler, retailer, consumer) Vertical integration: firm performs more than one set of activities in the channel (investment by retailer in wholesaling or manufacturing) Backward integration: retailer performs some distribution + manufacturing activities. Forward integration: manufacturer undertakes retailing activities (ex. Intratype competition: competition b/w retailers that sell similar merch using different format (discount department stores) -located close w similar good.