chapter 16

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Department
Management (MGM)
Course
MGMA01H3
Professor
Ingrid L.Stefanovic
Semester
Winter

Description
INTRODUCTION Retailers are the final link in the marketing channel, since they sell the products to the ultimate consumer Retailing is all the activities involved in selling goods and services to the ultimate consumer o Retailing also includes telephone sales. Internet selling Retailers play a feedback role EVOLUTION OF RETAILING The general store was stocked with general merchandise to meet the needs of a small community or rural area o They are still operated profitably in less developed countries, where income levels cannot support more specialized retailers, and in a few isolated parts of Canada as well The Importance of Retailing The introduction of a new product will likely fail if you have not taken into consideration the complex and sometimes expensive process required to get it stocked in appropriate retail outlets Type of person to manage a retail store will need skills involving o Marketer o Fashion expert o Financial analyst o Personnel manager o Logistics manager o Information system manager o Economist o Accountant Innovation and Competition in Retailing A major determinant of success is to develop a differential advantage over competitors Retail innovations often develop as attempts to better satisfy particular consumer needs Offer low prices, or convenience, or wide line of products The Wheel-of-Retailing Wheel of Retailing is a hypothesized process of change in retailing, which suggests that new types of retailers gain a competitive foothold by offering lower prices through the reduction or elimination of services; but once established they add more services and their prices gradually rise, so that they then become vulnerable to a new low-price retailer with minimum services and the wheel turns Chain Store is a group of retail stores that are centrally owned and managed and that handle the same lines of products MARKETING STRATEGY IN RETAILING www.notesolution.com
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