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Introduction to the
World of Retailing
CHAPTER 01
McGraw-Hill/Irwin
Retailing Management 8e
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What is Retailing?
CHAPTER 1
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Retailing a set of
business activities that
adds value to the
products and services sold
to consumers for their
personal or family use
A retailer is a business
that sells products and/or
services to consumers for
personal or family use.
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Examples of Retailers
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Retailers:
Kohls, Macys,
Wendys,
www.Amazon.com, Jiffy
Lube, AMC Theaters,
American Eagle
Outfitter, Avon, J.Crew
Firms that are retailers and wholesalers sell to other business as well as consumers:
Office Depot, The Home Depot, United
Airlines, Bank of America, Costco
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Distribution Channel
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Manufacturing, Wholesaling
and Retailing
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Manufacturing, Wholesaling
and Retailing
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Example
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Provide Assortment
Buy other products at
the same time (brands,
designs, sizes, etc.)
Break Bulk
Buy it in quantities
customers want
Hold Inventory
Buy it at a convenient
place when you want it
Offer Services
Increasing value of
products and services
Ryan McVay/Getty Images
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CHAPTER 1
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Retail Sales:
Over $4.1 trillion in
annual U.S. sales in 2005
Employment:
Employs over 24 million
people in 2005
One of the largest sectors
for job growth in US
Social responsibility
Global player
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Social Responsibility
CHAPTER 1
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Corporate social
responsibility
The voluntary actions taken
by a company to address
the ethical, social, and
environmental impacts of
its business operations, in
addition to the concerns of
its stakeholders
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CHINA
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Opportunities in Retailing:
Management Opportunities
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Opportunities in Retailing:
Entrepreneurial Opportunities
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Examples of retailing
entrepreneurs
Sam Walton (Wal-Mart)
Jeff Bezos (www.Amazon.com)
Ingvar Kamprad (IKEA)
Anita Roddick (the Body Shop)
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Career Opportunities in
Retailing
Start Your Own Business
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Retail Strategy
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A retail strategy
should identify
the target market
the product and
service mix
a long-term
comparative
advantage
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Special Characteristics
Affecting Retailers
Small
Average
Sale
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Impulse
Purchase
Retailers
Strategy
Popularity
of
Stores
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Retail Strategy
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Retail Strategy
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Identifying
customers
What are the
significant
demographic and
life-style trends
Who are your
target customers
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Customer Service
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A Customer
Respect Checklist
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Relationship Retailing
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Seek to establish and maintain longterm bonds with customers, rather than
act as if each sales transaction is a
completely new encounter
Concentrate on the total retail experience
Monitor satisfaction
Stay in touch with customers
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CHAPTER 1
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Misconceptions About
Careers in Retailing
CHAPTER 1
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