Study Guide Retail Management

In: Business and Management

Submitted By bezzelme
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Chapter 1 * Retailing : is business involves selling goods and services to consumers for their personal, family or household use * Retailing can be tangible and intangible , as services * Retailing does not always involve a store; it can be web, via mail, phones, manufactures, importers, nonprofit, wholesalers. * Retail impact economy; functions in Distribution and relationship with firms selling goods and services to retailers for their resale.

* Durable goods store: meaning store like last longer such as: motor vehicle, parts dealer, furniture, home furnishings, electronic, appliances and hardware store.

* Nondurable goods and services: general merchandise such as food, beverages, health, personal care stores, gasoline stations, clothing and hobby, book, music.

Retail Functions AND Distribution * Retail last stage in CHANNEL OF DISTRIBUTION : * This means business and people are involve in physical movement and transfer of ownership of goods and services from producer to consumer: * Example an exchange: buying IPhone from Apple.

* Retailer’s job: communicate with customer and manufacture, deal with products and services. * Sorting process: retailers collect sources and buy large amounts and sell in small amounts.

* MULTI-CHANNEL Retailing :

* Retailers sell to consumers through multiple retail formats: Example, mail, order, web, phone, stores. * Helps manufacture reduce cost, improve cash flow.

* Exclusive Distribution: Suppliers make an agreement to with few or one retailer to sell certain brand, product or a location. * Example Target retail store sells Archer Farms only or up items.

* Intensive Distribution: Suppliers sell through many as many as retailers as possible. To maximize profit. Competition between retailers is high.

* Selective Distribution: Suppliers…...

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