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Retailing consist of business activities involved in selling of goods & services to consumer for their personal, family or nonbusiness use.
A retailer is a businessman who sells products and/or services to consumers for personal or family or non-business use.
Distribution
Price
Promotion
Distribution Channel
PPT 1-4
Distribution Channel
Accounting
Finance
Marketing
Operations
MIS
Human Resources
Characteristics of Retailing
It offers direct interaction with customers. It sales products/services in small quantities. Customer service plays vital role. Sales promotion is offered heavily at this point. Location and layout are critical factors.
And in late 1980s with the opening up of economy retailing in India experienced great change.
Retailing Functions
Identifying Customer Demands Management of Merchandise Convenience of timing Convenience of location.
Retailing principles
Clear definition of objectives Duties and responsibilities. Unity of command Supervision and control Monitoring human resources Responsibility and authority
Retail
Strategy
Merchandise Assortment
Pricing
Location
Communication Mix
Walton Family (Wal-Mart) Fisher (The Gap) Wexner (Limited) Menard (Menards) Marcus, Blank (The Home Depot) Kellogg (Kohls) Schulze (Best Buy) Levine (Family Dollar) Gold (99Cent Only)
CLASSIFICATION ON THE BASIS OF OWNERSHIP CLASSIFICATION ON THE BASIS OF THE MERCHANDISE OFFERED NON-STORE RETAILING (OTHER)
INDEPENDENT RETAILER
OWNERSHIP IS WITH INDIVIDUAL OR FAMILY GIVES EASE IN ENTRY AND EXIT FLEXIBILITY IN INDIAN RETAIL INDUSTRY MOST STORES BELONG TO THIS CATEGORY QUICK DECISION MAKING CAPITAL LIMITATIONS LIMITED BARGAINING POWER WITH SUPPLIER CANNOT GAIN ECONOMIES OF SCALE LIMITED USE OF TECHNOLOGY LACK ADVERTISEMENTS
CHAIN RETAILER
OPERATES MUPTIPLE OUTLETS UNDER COMMON OWNERSHIP ALL STORES HAVE SIMILARITY IN MERCHANDISE OFFERED BARGAINING POWER WITH SUPPLIER ECONOMIES OF SCALE SHARING OF FINANCE AND FACILITIES CENTRALIZED BUYING AND DECISION MAKING ADVERTISEMENTS FLEXIBILITY MAY BE LIMITED HIGH INVESTMENT COST DECISION MAKING TAKES TIME
FRANCHISE
A FRANCHISE IS A CONTRACTUAL AGREEMENT BETWEEN THE FRANCHISER AND FRANCHISEE, WHICH ALLOWS FRANCHISEE TO CONDUCT BUSINESS UNDER AN ESTABLISHED NAME AS PER A PARTICULAR BUSINESS FORMAT.
FRANCHISE
OWNERSHIP OF STORE IN SMALL INVESTMENT ADVANTAGE OF BRAND NAME STANDARD OPERATING PROCEDURE ECONOMIES OF SCALE SHARING OF PROFIT CONTRACTUAL INFORCEMENTS CANCELLATION MAY TAKE PLACE
LEASED DEPARTMENT
Concept of shop in shop A leased department or a counter is leased/ rented to an outside party Enlargement of market leased department operators pay for some expenses Investment cost can be reduced Inflexibility of working hours Goods/ services are limited
CONSUMER COOPERATIVES
Retail store owned by member consumers Limitations on growth opportunities Limited goods/ services are offered Main motive is co-operation not profit
CONVENIENCE STORE
Small stores located in residential areas Offers limited, daily use goods/ services It gives time and location convenience
SUPERMARKETS
These are large, low cost, low margin, high volume, self service operations designed to meet the needs for food, grocery and other non food items. store with a selling area between 400 sq m to 2500 sq m and selling at least 70% foodstuff and everyday commodities. Gives comfort of shopping to customers. High investment cost
HYPERMARKETS
A retail store with a sales area of more than 2,500 sq m, with at least 35% selling space devoted to non grocery products. Combination of supermarket and department store. Large variety of products offered Discounted price Economies of scale One stop shop