Textbook Notes (280,000)
CA (160,000)
Ryerson (10,000)
RMG (100)
RMG 200 (50)
Chapter 1

RMG 200 Chapter Notes - Chapter 1: Corporate Social Responsibility, Intertype Corporation, Private Label

Retail Management
Course Code
RMG 200
Ken Wong

This preview shows half of the first page. to view the full 3 pages of the document.
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
-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
Intratype competition: Competition between retailers of the same type
You're Reading a Preview

Unlock to view full version