Chapter 15 - Day 23 - student

Chapter 15 - Day 23 - student - CHAPTER 15 Retailing...

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CHAPTER 15 Retailing © EschCollection/Photonica/Getty Images
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LO 1 Discuss the importance of retailing in the  U.S. economy LO 2 Explain the dimensions by which retailers  can be classified  LO 3 Describe the major types of retail  operations LO 4 Discuss nonstore retailing techniques Learning Outcomes
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LO 5 Define  franchising  and describe its two  basic forms LO 6 List the major tasks involved in  developing a retail marketing strategy LO 7 Describe new developments in  retailing Learning Outcomes
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Retailing All the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use. Retailing
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The Role of Retailing  u U.S. retailers employ nearly 25 million people u Retailers account for 11.6 percent of U.S.  employment u Retailing accounts for 13 percent of U.S.  businesses u Retailers ring up almost $4 trillion in sales nearly  40 percent of the U.S. GDP u Industry is dominated by a few giant  organizations, such as Wal-Mart
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Beyond the Book Recession? - Stress “Value” to Attract Customers SOURCE: Larry Freed, “Satisfied and Buying,” online at http://www.internetretailer.com. Because of the recession, customers are in a  particularly cost-conscious mood and focusing  on value. To grab their attention retailers can: þ Offer unique value propositions, i.e. prices, customer services, loyalty programs þ Use innovative marketing concepts that will resonate with consumers, e.g. pop-up shops or a “green” emphasis þ Appeal to time-strapped customers with an efficient multi-channel shopping experience
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Four reasons entrepreneurs are  opening pop-up stores. 1. To get the word out 2. To unload old inventory 3. To test new markets 4. To vet a new business idea http://www.inc.com/magazine/20100701/how-to-open-a-pop-up-store.html 
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Classification of Retail Operations Ownership Level of Service Product Assortment Price
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Independent Retailers Chain Stores Franchises Owned by a single person or partnership and not part of a larger retail institution Owned and operated as a group by a single organization The right to operate a business or to sell a product Classification of Ownership
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Level of Service Full Service Self Service Discount stores Exclusive stores Factory outlets Warehouse clubs
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Product Assortment Classification  based on  BREADTH   and  DEPTH  of  product lines.
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Product Mix Width Low High Product Line Depth Low High Broad Assortment Narrow  Assortment A perceptual map of retail store types – Product Mix Width and Line Depth Product Assortment Breadth Depth
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Product Mix Width Low High Product Line Depth Low High Specialty Specialty Discount Convenience Drug Store Super Market Department Full Line  Discounter Warehouse Super Center A perceptual map of retail store types – Product Mix Width and Line Depth Product Assortment Breadth Depth
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This note was uploaded on 02/12/2012 for the course SCM 301 taught by Professor Montabon during the Spring '11 term at Iowa State.

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Chapter 15 - Day 23 - student - CHAPTER 15 Retailing...

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