Ch. 16 Retailing - Ch. 16 Retailing: The final stop on the...

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Retailing : The final stop on the distribution path [Place of the 4 P’s] Ch. 16
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2 Chapter Objectives Define retailing and understand how retailing evolves Describe how retailers are classified Describe the more common forms of nonstore retailing Describe B2C e-commerce and its benefits, limitations, and future promise Understand the importance of store image to a retail positioning strategy and explain how a retailer can create a desirable image in the marketplace
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3 Retailing What is it? Retailing : the process by which goods and services are sold to consumers for their personal use Retail Theft : U.S. retail in 2008 indicates $36 Billion lost with $13 Bil. or 36% due to customers, while $15.5 Bil. or 46% from employee theft The retailer adds/subtracts value from the offering with its image, inventory, service quality, location, and pricing policy.
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4 Retailing What is it? Retailing is big business: one of every ten U.S. workers is employed in retailing—1.2 Mil+ retailers but over 90% are small (2007 U.S. retail sales=$4.5 Trillion or 32% of GDP=$14.2 Trillion) Retailers belong to a channel of distribution (M-W- R -C) , providing time, place, and ownership utility to customers.
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5 The Evolution of Retailing Wheel-of-retailing hypothesis New types of retailers enter the market by offering lower-priced goods. They gradually improve facilities, quality and assortment of merchandise, and amenities and increase prices—so the “wheel turns” where new lower-priced competitors come in to the market Or could go the other way, down , e.g., Gap Old Navy; Nordstrom Nordstrom Rack
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6 The Evolution of Retailing (cont’d) Retail life cycle Like with the product life cycle, retailers are born, grow and mature, and eventually die or become obsolete. Introduction stage
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Ch. 16 Retailing - Ch. 16 Retailing: The final stop on the...

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