Textbook Notes (369,067)
Canada (162,366)
RMG 200 (57)
Ken Wong (11)
Chapter 1

RMG200 Chapter 1.pdf

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Retail Management
Course Code
RMG 200
Ken Wong

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RMG200 Chapter 1 -key failure to Canadian retailers is try to please everyone -Retailing: is the set of business activities that add value to the products and services sold to consumers for their personal or family use -Retailer: a business that sells products and services to consumers for their personal or family use. -distribution channel: A set of firms that facilitate the movement of products from the point of production to the point of sale to the ultimate consumer -vertical integration: An example of diversification by retailers involving investments by retailers in wholesaling or manufacturing merchandise • Right merchandise • Right price • Right place • Right quantities • Right time Backward Integration: arises when a retailer performs some distribution and manufacturing activities, such as operating warehouses or designing private label merchandise Forward Integration: occurs when a manufacturer undertakes retailing activities such as Roots operating its own retail stores Value-adding functions: • Providing an assortment of products and services • Breaking bulk: To reduce transportation costs, manufactures and wholesalers typically ship cases of produces in bulk. Retail offer smaller quantities for consumer. • Holding inventory: Inventory Control • Providing service and services: Services making it easier for customer (payment, testing products, etc) Social Responsibility  Corporate social responsibility: describes the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders Competitors Intratype competition: Competition between retailers of the same type Intertype competition: Competition between retailers that sell similar merchandise using different formats such as discount and departmen
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