What are some of channel strategies and practices that are affected by legal or regulatory restrictions? What laws govern such practices? 17
What is logistics and supply chain management? How is a supply chain aligned with a firm’s marketing strategy? What are the types of supply chains? Supply Chain Management and Marketing Strategy: Understand the customer Understand the supply chain Harmonize the two What is order cycle time? What is vendor managed inventory? Order Cycle Time: time between the ordering of item and when it is received and ready for use or sale Vendor-Managed Inventory (VMI): an inventory management system whereby the supplier determines the product amount and assortment a customer (such as a retailer) needs and automatically delivers the appropriate items How can retailers be classified? 18
Form of Ownership: Independent (owned by individual) Corporate Chain (multiple outlets with common ownership) Contractual Systems (franchises) – most popular Level of Service: Self (gas station) Limited (Target) Full (Nordstrom) Merchandise Line: how many different types of products a store carries What is breadth and depth of merchandise or product line in the context of retailing? Breadth: number of different product lines Depth: number of items within each product line What are the non-store forms of retailing? What are the strengths and weaknesses of eachof them? What is meant by the retailing mix? What are the retail pricing strategies? What is mark-up, markdown, everyday low pricing, off-price retailing and shrinkage? What is category management in the context of retailing? 19
What is the wheel of retailing? 20
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