Retailing and Wholesaling Ch 13.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 2320A/B
Professor
Angela White
Semester
Winter

Description
Retailing and Wholesaling 4/7/2012 1:45:00 PM Retailing  Includes all the activities in selling products or services directly to final consumers for their personal, non-business use  Major store retailer types o Specialty – carry a narrow product line with a deep assortment such as apparel and sporting goods stores o Department stores – can carry several product lines separating by several departments o Supermarkets – relatively large, low-cost, high volume, self- service operation, typically for groceries o Convenience stores – small stores located near residential areas, long hours, carrying a limited line of high-turnover convenience products o Discount stores – carry standard merchandise sold at lower prices o Off-price retailers – sells merchandise both bought and sold at less-than-regular wholesale prices o Factory outlets – producer-operated stores o Superstores – large stores traditionally aimed at meeting consumers’ total needs  Amount of service o Self-service retailers – serve customers who are wiling to perform their own “locate-compare-select” process to save money o Limited service retailers – provide more sales assistance because they carry more shopping goods about which customers need information o Full service retailers – have salespeople assist customer in every aspect of the shopping process Organizational Approach  Corporate chains – two or more outlets that are commonly owned and controlled o Size allows them to buy in large quantities at lower prices and gain promotional economies  Voluntary chains – wholesale=sponsored groups of independent retailers that engage in group buying and common merchandising  Retailer cooperatives – a group of independent retailers that band together to set up a joint-owned, central wholesale operation and conduct joint merchandising and promotion effort  Franchise organizations – based on some unique product or service, method of doing business or a trade name or patent that the franchisor has developed Retailer Market Decisions  Segmentation targeting, differentiation and positioning – involves the definition and profile of the market so the other retail marketing decisions can be made  Product assortment and service decisions: o Product assortment – should be differentiate the retailer while matching target shoppers’ expectations, offers merchandise that no other competitor carries  Private or national brands  Merchandising events  Highly targeted product assortment o Services mix – should also serve to differentiate the retailer from the competition with customer support o Store atmosphere – the physical layout that makes moving around the store hard or easy Price Decision  Price policy – must fit the target market and positioning, product and service assortment and competition o High markup on lower volume o Low markup on higher volume  High-low pricing – involves charging higher prices on an everyday basis coupled with frequent sales and other price promotions  Everyday low price (EDLP) – involves charging contact, everyday low prices with few sales or discounts Place Decision  Central business district – located in cities and include department and specialty stores, banks and movie theatres  Shopping centres – a group of retail businesses planned, developed, owned and managed as a unit  Power centres – huge enclosed shopping centres consisting of a long strip of retail stores  Lifestyle centres – smaller malls with upscale stores, convenient locations and nonretail activities The Future of Retailing  Retailers must consider: o Non-store retailing  Mai
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