chp14 test - Chapter 14 Retailing Notes I Role of Retailing...

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Chapter 14 Retailing Notes I. Role of Retailing I. Introduction A. Retailing includes all the activities involved in selling products and services to the ultimate or  final consumer B. Retail Sales are sales to the final consumer. 1. Classified as a retailer — retail sales must equal or exceed 50 percent of its total  revenue. C. Wholesale Sales are those to other business that in turn resell the product or service, or use it in  running in running their own businesses. II. Economic Importance A. Major Force in the economy-3 million retailers in operation in United States, employ 14  million people, and about 10 percent of the total U.S labor force B. Revenue would mean 2.5 trillion in annual revenues, $9,000 retail expenditure for every  man, woman, and child in the U.S. Leading Retailers A. Sell Smaller Quantities More Frequently 1. Offer products in the sizes suitable and convenient for household consumption B. Proved Assortments 1. Convenience- is one shopping for a variety of products and services- like a typical  supermarket carries 20,000 to 30,000 different items. 2. Category-assortment of items seen by the customer as reasonable substitutes for  each other. 3. Category Killers-discount retailers that offer a complete assortment and thus  dominate a category from the customer's perspective. C. Emphasize Atmospherics 1. Atmospherics-retailer's combination of architecture, layout, color scheme, sound, and  temperature monitoring, special events, prices, displays
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chp14 test - Chapter 14 Retailing Notes I Role of Retailing...

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