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WHAT IS RETAILING?. MARKETING & ADVERTISING MRS. BELTRA. OBJECTIVES. DEFINE THE TERM RETAILING EXPLAIN THE DIFFERENCE BETWEEN GOODS AND SERVICES IDENTIFY DIFFERENT CHANNELS OF DISTRIBUTION EXPLAIN THE BENEFITS OF RETAILING IDENTIFY SOME OF THE TASKS OF RETAILERS. KEY TERMS.

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what is retailing

WHAT IS RETAILING?

MARKETING & ADVERTISING

MRS. BELTRA

objectives
OBJECTIVES
  • DEFINE THE TERM RETAILING
  • EXPLAIN THE DIFFERENCE BETWEEN GOODS AND SERVICES
  • IDENTIFY DIFFERENT CHANNELS OF DISTRIBUTION
  • EXPLAIN THE BENEFITS OF RETAILING
  • IDENTIFY SOME OF THE TASKS OF RETAILERS
key terms
KEY TERMS
  • RETAILING – IS THE SELLING OF PRODUCTS TO THE CUSTOMER.
  • PRODUCTS- INCLUDE GOODS AND SERVICES THAT HAVE MONETARY VALUE.
  • GOODS- TANGIBLE ITEMS THAT ARE MADE, MANUFACTURED, OR GROWN THAT PEOPLE WANT TO BUY AND USE.
  • SERVICES- ARE THINGS THAT PEOPLE DO FOR US THAT MAKE US FEEL BETTER OR ENCHANCE OUR LIVES IN SOME WAY.
slide4

RETAIL CUSTOMER –PURCHASER OF THE GOODS AND SERVICES FROM RETAILERS.

  • MANUFACTURER –BUSINESS THAT MAKES OR PRODUCES THE GOODS FOR SALE.
  • CHANNEL OF DISTRIBUTION – PATH MERCHANDISE TAKES FROM WHERE IT IS MADE TO THE FINAL CONSUMER.
  • DIRECT CHANNEL – PATH THAT LEADS DIRECTLY FROM MANUFACTURER TO CONSUMER.
slide5

INDIRECT CHANNRL – PATH THAT FOLLOWS MORE THAN ONE STEP.

  • WHOLESALER – ONE WHO BUYS LARGE QUANTITIES OF A PRODUCT AND THEN RESELLS IT IN SMALLER QUANTITIES TO RETAILERS.
  • PRODUCER CHANNEL – MANUFACTURER ALSO OWNS ITS RETAIL STORES; PRODUCT GOES FROM MANUFACTURER TO RETAIL STORE TO CUSTOMER
what is retailing1
WHAT IS RETAILING?
  • THE SELLING OF PRODUCTS TO THE CUSTOMER
goods
GOODS
  • TANGIBLE, MANUFACTURED OR GROWN, TO BUY AND USE
service
SERVICE
  • WORK SOMEONE DOES FOR OTHERS
  • OFTEN INTANGIBLE, SERVICE CANNOT BE HELD IN OUR HANDS
internet retailers
INTERNET RETAILERS
  • PHOTOS AND DESCRIPTIONS ON WEB SITE
  • ENCOURAGE CUSTOMERS TO PURCHASE ONLINE
  • OFFER “ONLY ONLINE” PRODUCTS TO RETAIN CUSTOMERS
  • LARGER SELECTION
  • COMPUTERS GATHER IMPORTANT DATA ABOUT THEIR CUSTOMERS
  • TRACK CUSTOMER BUYING HABITS
  • SOCIAL MEDIA
catalog retailers
CATALOG RETAILERS
  • PRODUCTS SOLD THROUGH THE MAIL
  • PHOTO AND DESCRIPTION
  • INITIALY, FOR PEOPLE LIVING IN ISOLATED AREAS, FAR FROM STORES
  • TODAY, EASE OF SHOPPING
  • ENABLES CUSTOMERS TO SHOP FROM ANYWHERE
channels of distribution
CHANNELS OF DISTRIBUTION
  • MANUFACTURER/PRODUCERS
  • CONSUMERS
  • RETAILERS
  • AGENTS
  • WHOLESALERS
  • DIRECT
  • INDIRECT
florist
FLORIST
  • FLOWER GROWER PRODUCES 500 DOZEN TULIP BULBS
  • A WHOLESALER PURCHASES 250 DOZEN
  • LOCAL FLORIST DOES NOT NEED ALL 250
  • WHOLESALER ALLOWS LOCAL FLORIST TO BUY 20 DOZEN
  • CUSTOMER PURCHASES A SINGLE DOZEN FROM RETAILER
benefiting customers
BENEFITING CUSTOMERS
  • RETAILERS ARE ALWAYS LOOKING FOR WAYS TO BENEFIT THEIR CUSTOMERS.
stores
STORES
  • BROWSING
  • TOUCHING AND FEELING PRODUCTS
  • PERSONAL SERVICE
  • CASH PAYMENT
  • IMMEDIATE GRATIFICATION
  • ENTERTAINMENT AND SOCIAL INTERACTION
catalog
CATALOG
  • CONVENIENCE
  • PORTABILITY; ACCESSIBITLITY
  • SAFETY
  • VISUAL PRESENTATION
internet
INTERNET
  • CONVENIENCE
  • SAFETY
  • BROAD SELECTION
  • DETAILED INFORMATION
  • PERSONALIZATION
  • PROBLEM-SOLVING INFORMATION
benefits to customers
BENEFITS TO CUSTOMERS
  • SELECTION OF PRODUCTS
  • SHOPPING HOURS
  • CUSTOMER SERVICE ( CREDIT CARDS, PAYMENT, ASSEMBLE PARTS)
  • LOCATION
  • COMPETITIVE PRICING
benefits to the community
BENEFITS TO THE COMMUNITY
  • SOURCES OF EMPLOYMENT
  • SUPPORT SCHOOL INVOLVMENT
  • SUPPORT ORGANIZATIONS, SPECIAL OLYMPICS
benefits to the economy
BENEFITS TO THE ECONOMY
  • SALES GENERATED BY RETAILERS SUPPORT EMPLOYMENT IN THE COMMUNITY
  • NATIONAL ECONOMY; EXAMPLE GREEN GIANT
needs and wants
NEEDS AND WANTS
  • DURING DIFFICULT ECONOMIC TIMES,
    • PEOPLE WILL SATISFY THEIR NEEDS AND WANTS
    • PURCHASE SOLELY TO SURVIVE
    • PURCHASE THE COTTON SWEATER INSTEAD OF WOOL
what retailers do
WHAT RETAILERS DO
  • BUY MERCHANDISE
    • WHAT, WHEN, HOW MUCH
  • DETERMINE SELLING PRICE
    • FAIR TO CUSTOMER, ALLOW FOR PROFIT
  • STORING GOODS PURCHASED
    • ENOUGH FOR DISPLAY BUT EXTRA STORED AWAY
what retailers do1
WHAT RETAILERS DO….
  • ADVERTISING AND PROMOTING PRODUCTS
    • CUSTOMERS MADE AWARE OF PRODUCTS/SERVICES
  • DISPLAYING MERCHANDISE
    • NEAT AND ATTRACTIVE
  • SELLING GOODS OR SERVICES
    • KNOWLEDGABLE AND FRIENDLY ASSOCIATES
what retailers do2
WHAT RETAILERS DO….
  • SERVICING PRODUCTS
    • OFFER SERVICE CONTRACTS FOR MAINTENANCE
  • PROVIDING CUSTOMER SERVICES
    • SERVICES OFFERED TO CUSTOMERS, CREDIT CARDS, DELIVERY, ALTERATIONS
  • RISK MANAGEEMENT
    • KNOW WHAT PRODUCTS TO BUY, INSURANCE FOR STORMS, FIRES, SHOPLIFTING
  • HIRING AND MANAGING EMPLOYEES
    • RELIABLE, FRIENDLY, AND HONEST EMPLOYEES
true false
TRUE / FALSE

A service is a tangible item that makes us feel better or enhances our lives in some way.

FALSE

true false1
TRUE / FALSE

The retail industry is the second-largest industry in the country.  

TRUE

true false2
TRUE / FALSE

Consumers can only buy goods from the United States, Mexico, and Canada.

FALSE

true false3
TRUE / FALSE

Retailers sell their goods only in physical stores.  

FALSE

true false4
TRUE / FALSE

A direct channel distribution path leads directly from the manufacturer to the consumer.

TRUE

slide32

Which of the following is not a retail job task?

a.   buying merchandise  

b.   fulfilling customer needs  

c.   manufacturing goods  

d.   setting prices

slide33

This retail employment area deals with the day-to-day operations of the retailer:  

a.   store management  

b.   finance  

c.   loss prevention  

d.   marketing and advertising

slide34

A business that makes or produces goods for sale is a:

a.   retailer

b.   manufacturer

c.   wholesaler  

d.   direct channel  

slide35

Which of the following is a benefit of retailing?  

a.   Adds to the local economy  

b.   provides employment  

c.   supports local community  

d.   all of the above

slide36

A shoe repair shop is an example of:  

a.   manufactured goods  

b.   producer channel  

c.   service retailer  

d.   wholesaler

checking concepts hand in
CHECKING CONCEPTS*HAND IN*
  • DEFINE RETAILING
  • DESCRIBE THE DIFFERENCE BETWEEN GOODS AND SERVICES
  • DRAW AND NAME THE CHANNELS OF DISTRIBUTION
  • EXPLAIN THREE BENEFITS OF RETAILING
  • LIST THREE TASKS OF RETAILERS
  • IDENTIFY TWO WAYS RETAILERS USE COMPUTERS
  • DESCRIBE THE DIFFERENCE BETWEEN A MANUFACTURER AND A WHOLESALER
  • EXPLAIN HOW RETAILING HAS BECOME GLOBAL
writing hand in
WRITING*HAND IN*
  • WRITE A LETTER TO YOUR FAVORITE RETAILER AND EXPLAIN WHY YOU BUY ITS PRODUCT.
math hand in
MATH*HAND IN*
  • YOU JUST BOUGHT A NEW BICYCLE FOR $250 PLUS 8% SALES TAX. ASSEMBLY COSTS $35. WHAT IS YOUR TOTAL BILL.
  • ABDUL BOUGHT FIVE T-SHIRTS ($9 EACH) AND TWO PAIRS OF JEANS ($22 EACH) FROM OLD NAVY. WHAT IS THE TOTAL COST OF THE T-SHITS AND JEANS? TAX IS 7%.