Textbook Notes (369,021)
Canada (162,345)
MCS 1000 (215)
Sergio Meza (113)
Chapter 15

MCS 1000 Chapter 15: Chapter 15_Retailing

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Marketing and Consumer Studies
MCS 1000
Sergio Meza

MCS 1000 Chapter 15 Notes Chapter 15: Retailing Introduction Tim Hortons is a Canadian retail success story o Adapted to the consumers changing desires o Has good social responsibility Retailing: all activities involved in selling, renting and providing goods and services to ultimate consumers for personal, family or household use The Value and Scope of Retailing Important marketing activity Producers and consumers meet through retailing actions, but retailing also creates customer value and has a significant impact on the economy o Critical to Canadian and global economies Employs 2 million people (1 in 8 jobs), second largest labour force in the country Major retail categories: automotive, food, furniture, clothing Some Canadian retailers have annual sales revenues that surpass GDP of some countries rd China is the 3 largest retail market Classifying Retail Outlets Retailing is an important component for marketing that has several variations for manufacturers, consumers and the economy The large number of alternative forms of retailing makes it easier to understand the differences the differences among retail institutions by recognizing that outlets can be classified in several ways Form of ownership: distinguishes retail outlets based on whether individuals, corporate chains, contractual systems own the outlet Level of service: is used to describe the degree of service provided to the customer (self, limited and full service) Merchandise Line: describes how many different types of products a store carries and in what assortment Form of Ownership Independent retailer: o One of the most common forms of retail ownership o Accounts for over60 of total retail trade in Canada o Small retailers tend to dominate in bakeries, sporting goods, jewelry and gift stores o Popular retailers of auto supplies, books, paint, flowers, and womens accessories o Advantages: Owner can be his or her own boss For customers, the independent store can offer convenience, quality, personal service and lifestyle compatibility Corporate Chain Multiple outlets under common ownership Called chain outlets Centralization in decision making and purchasing is common Have advantages in dealing with manufacturers, especially when the chain grows
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