Chapter 12 : Retailing Flashcards
RETAILING
All the activities directly related to the sale of goods and services to the ultimate consumer for personal , non-business use.
Classification
- Ownership
- level of service
- product assortment
- price
- place
Ownership:
- Independent retailers
- chain stores
- franchises
Independent retailers
Owned by a single person or partnership and to part of a larger institution
Chain stores
Owned and operated as a group by a single organization
franchises
Owned by individuals but they have The right to operate a business or sell a product
- Level of service
- high end stores have high level of service
- discount stores have little service
- factory outlets, or warehouse have no service
-product assortment
- the breadth and depth of the product they offer
specialty stores- (lulu, aldo shoes) have the concentrated assortment
full line discounters - carry all kinds of shit (Zellers, Walmart)
Factory outlet- single line- nike
- price
- high end stores- charge full suggested retail price
- factory outlets, discounts- charge way lower
-place
- in-store retailing
- non-store retailing (online, vendors)
Major Types of Retail Operations
• Department stores • Specialty stores • Supermarkets • Drugstores • Convenience stores • Discount stores Restaurants
• Department stores
- carries a wide variety of shopping and specialty goods, including apparel, cosmetics, housewares, electronics and sometimes furniture
- purchases at checkout areae
• Specialty stores
- not only a type of store but also a method of retail operations–namely, specializing in a give type of merchandise
- typically carries a deeper but narrower assortment of specialty merchandise than a department store does (LuLu)
• Supermarkets
-large, departmentalized, self-service retailers that specialize in food and some non-food items
• Drugstores
- stock pharmacy-related products and services as their main draw
- DRUGS!!!!
• Convenience stores
- a miniature supermarket, carrying only a limited line of high-turnover convenience goods
- self-serviced , typically located near residential areas and are open 24 hours
• Discount stores
- is a retailer that competes on the basis of low prices, high turnover, and high volume
1. full line discount store- offers consumers very limited service and carry a much broader assortment of well know , nationally branded hard goods, (toys, housewares, automotive
2. specialty discount stores - offer a nearly complete selection of sing line merchandise and use self-service, discount prices, high volume, and high turnover to their advantage (sporting goods, electronics)
3. Warehouse membership clubs- sell a limited selection of bran name appliances, household items, and groceries usually in bulk
4. off price retailer-
Restaurants
–food and shit!
Non-store
- automated vending
- direct retail
- direct marketing
- electronic retailing
-direct retail-
representatives sell products door-to-door, office-to-office, or at home sale parties.
direct marketing-
refers to the techniques used for getting consumers to make a purchase form the home. (direct mail, catalog and mail order, telemarketing, and electronic retailing
- electronic retailing-
includes the 24 hour shop at home television networks and online retailing
Strategy for target market
- product- width and depth of the product assortment (right product for the right market, and the right time)
- price- what is best for customer base and cost effective
- place- location and hours, distribution strategy
- promotion- advertising, publicity, public relations
- presentation - layout and atmosphere
- personnel - customer service and personnel
