PHIL 1290 Study Guide - Quiz Guide: Advertising Mail, Online Auction, Direct Selling
27 Mar 2018
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Retailing involves creating a place where the customers can access the product. Retailing all activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use: an important activity. Engages the consumer: brings together buyers and sellers, consumer value. Consumer utility created by retailing time/ place/ form/ information/ possession. Food retail is the biggest followed by motor vehicles and in the third placeautomotive fuels oils and additives. Top retailer in canada is loblaws (superstore chain) Maximum number of top retailers in the world have come out of usa. Retailing strategy: type and format of retail presence, target market, marketing mix. Focus on the customer: understand needs and wants, know preferences, understand behaviour, determine most appropriate appeal. Classifying retail outlets: form of ownership, level of service, merchandise mix. Form of ownership distinguishes retail outlets on the basis of whether individuals, corporate chains, or contractual systems own the outlet.
