M300 Chapter 14

M300 Chapter 14 - M300 Chapter 14 8:23:00 PM Retailing all activities involved in selling renting and providing goods and services to ultimate

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
M300 Chapter 14 17/03/2008 19:23:00 Retailing     - all activities involved in selling, renting, and providing goods and  services to ultimate consumers for personal, family, or household use. THE VALUE OF RETAILING Retailing is an important marketing activity that  Allows producers and consumers to meet through retail actions Creates customer value Has a significant impact on the economy CONSUMER UTILITIES OFFERED BY RETAILING The utilities provided by retailers create value for consumers.  Time, place, form, and possession utilities are offered by most retailers in  varying degrees. o One utility is often emphasized more than others. Examples: possession utility is offered by Saturn because of  their financing or leasing and taking used cars as trade-ins.  Form utility is offered by Polo Ralph Lauren through its online  create your own collection services. Time utility is offered by sports authority by offering sporting  equipment for off season sports.  THE GLOBAL ECONOMIC IMPACT OF RETAILING Retailing is also important to the U.S. and global economies.  30 of the largest businesses in the U.S. are retailers.  CLASSIFYING RETAIL OUTLETS For manufacturers, consumers, and the economy, retailing is an important  component of marketing that has several variations.  Form of ownership  distinguishes retail outlets based on whether individuals,  corporate chains, or contractual systems own the outlet. 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Level of service  is used to describe the degree of service provided to the  customer.  o Three levels of service are provided by self-, limited-, and full- service  retailers. Merchandise line  describes how many different types of products a store  carries and in what assortment. FORM OF OWNERSHIP Independent retailer: o One of the most common forms of ownership is the independent  business, owned by an individual. o The advantage of this form of ownership for the owner is that he or she  can be his or her own boss. For customers, the independent store can offer convenience,  quality, personal assistance, and lifestyle compatibility.  Corporate chain: o The corporate chain involves multiple outlets under common  ownership.  Examples: Bloomingdales and  Macy’s both owned by  Federated Department Stores Inc. . o In a chain operation, centralization in decision making and purchasing  is common. o
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/07/2008 for the course BUS M300 taught by Professor Sun during the Spring '08 term at Indiana.

Page1 / 15

M300 Chapter 14 - M300 Chapter 14 8:23:00 PM Retailing all activities involved in selling renting and providing goods and services to ultimate

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online