Chapter 15 outline

Chapter 15 outline - BMGT350 Chapter 15 LO1: The Role of...

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BMGT350 Chapter 15 LO1: The Role of Retailing Retailing: all the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use Importance of retailing: o Over 1.6 million U.S. retailers employ more than 24 million people o Retailers account for 11.6 percent of U.S. employment o Retailing accounts for 13 percent of U.S. businesses o Retailers ring up almost $4 trillion in sales—nearly 40 percent of the U.S. GDP o Industry is dominated by a few giant organizations, such as Wal-Mart LO2: Classification of Retail Operations Ownership: independent, part of a chain, or franchise outlet o Independent retailers: retailers owned by a single person or partnership and not operated as part of a larger retail institution o Chain stores: stores owned and operated as a group by a single organization o Franchises: the right to operate a business or to sell a product Product and trade name franchising Business format franchising
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Chapter 15 outline - BMGT350 Chapter 15 LO1: The Role of...

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