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THE VALUE OF RETAILING. Retailing. Retailing includes all activities involved in Selling and providing goods and services to ultimate consumers for personal, or household use. Classification of Retail Establishments. Ownership-place. Level of Service-promotion.

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Presentation Transcript
slide1

THE VALUE OF RETAILING

Retailing

  • Retailing includes all activities involved in
  • Selling and providing goods and
  • services to ultimate consumers for personal,
  • or household use.
slide2

Classificationof Retail

Establishments

Ownership-place

Level of Service-promotion

Product Assortment-product

Price

CLASSIFYING RETAIL OUTLETS

Retailers manipulate their 4 P’s to get the best position in the marketplace– in other words, to create a competitive advantage

slide3

Independent

Retailers-one store ownership

Chain Stores-many stores but only one owner

Franchises-many owners of many stores

CLASSIFICATION BY OWNERSHIP

slide4

Product and Trade Name Franchising

Dealer agrees to sell certain products provided by a manufacturer, but can use any sales tactics he chooses.

Ex-Michelin Tires, Avon

Business

Format

Franchising

Dealer must sell the franchiser’s product in the exact way the franchiser prescribes.

Ex – McDonalds, Wendy's

BASIC FORMS OF FRANCHISING

slide5

CLASSIFICATION BY LEVEL OF SERVICE

Self Service

Full Service

Discount stores

Factory outlets

Warehouse clubs

Exclusive stores

slide6

CLASSIFICATION BY PRODUCT OFFERING

The mix of products offered to the consumer by the retailer; also called the product assortment

Deep & narrow-like Starbucks

Or

Shallow & broad like Walmart

slide7

CLASSIFICATION BY PRODUCT OFFERING

  • Depth of Product Line
  • Specialty Outlets
  • Category Killers
  • Breadth of Product Line
  • General Merchandise Stores
  • Scrambled Merchandising

Why do this?

slide9

Department Stores

Specialty Stores

Supermarkets

Drugstores

Convenience Stores

Discount Stores

Restaurants

MAJOR TYPES OF RETAILERS BY PRODUCT OFFERING

slide10

NON-STORE RETAILING

Major Forms

ofNonstore

Retailing

Automatic Vending

Direct Marketing

Electronic Retailing

slide11

Direct Mail

Direct Marketing needs

no personal

interaction

Catalogs & Mail Order

Telemarketing

DIRECT MARKETING

slide12

Choosing the Retailing Mix

Product

Place

Price

Personnel

Promotion

Presentation

CHOOSING THE RETAIL MIX

slide13

Product

Personnel

Promotion

TargetMarket

Presentation

Place

Price

CHOOSING THE RETAIL MIX

slide14

Factors

in

Creating

Store’s

Atmosphere

Employee Type & Density

Merchandise Type & Density

Fixture Type & Density

Sound

Odors

Visual Factors

PRESENTATION (COMMUNICATION) OF THE RETAIL STORE

slide15

PERSONNEL OF THE RETAIL STORE

Factors

in

Personnel

decisions

How many

How knowledgeable

How helpful / invasive

Fit the image of the product

Good personal sellers

slide16

RETAILING STRATEGY-PRICING

  • How much mark-up?
  • Allow for Shrinkage and discounting

OR

  • Use Everyday Low Pricing
  • Benchmark or Signpost Items –

items used by consumers as an index

of overall price level of the store

I.e. – “How much do they sell T shirts for?”

slide17

Freestanding Store

Shopping Center Tenant

Mall Tenant

RETAILING STRATEGY - LOCATION

  • Central Business District
  • Parasites
  • Regional Shopping Centers
  • Anchor Stores
  • Strip Location
  • Destination stores
  • Power centers
  • Multichannel Retailers
slide19

Scrambled Merchandising

  • Scrambled merchandising involves offering several unrelated product lines in a single store.
slide20

Retailing Mix

  • The retailing mix includes the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.
slide21

Shrinkage

  • Shrinkage is the breakage and theft of merchandise by customers and employees.
slide22

Multichannel Retailers

  • Multichannel retailers utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television, and online retailing.
slide23

Retail Life Cycle

  • The retail life cycle is the process of growth and decline that retail outlets, like products, experience, which consists of the early growth, accelerated development, maturity, and decline stages.
slide24

Parasites

Parasite storesdo not create their own traffic. They make money based on

their proximity to things that will draw foot traffic. (bigger stores, train stations, airports, office buildings, etc.)

slide25

Destination Stores

  • Stores that generate customers from larger trading areas than their neighbors or competitors.
  • i.e.-Dunkin’ Donuts: “It’s worth the trip!”
slide26

Power Centers

  • Huge shopping strips with multiple anchors and often a supermarket
slide27

Anchor Stores

  • A large store, such as a department store or supermarket, that is prominently located in a shopping mall to attract customers who are then expected to patronize the other shops in the mall.