Chapter_01 Introduction to Retail
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Transcript of Chapter_01 Introduction to Retail
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CHAPTER 1
INTRODUCTION TO RETAIL
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Learning Objectives
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Defining retail
The functions of a retailer
The marketingretail equation
The significance of retail as an industry
The new role of the retailer
The global retail scenario
Key issues facing global retailers
Retail as a career
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What Is Retail?
Retailderived from the French wordretailer , which means to break bulk
Retailing- last stage in the movement ofgoods and services to the consumer
Retail consists of- all activities involved
in the marketing of goods and servicesdirectly to the consumers for theirpersonal, family or household use
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Functions Of A Retailer
Form utility- by offering assortment of finished
goods and services in a form that customers
want
Time utility- by keeping the store open whenthe consumers prefer to shop
Place utility-by being available at a convenient
location Ownership utility- by selling the product
Serves the manufacturer- by distributing the
goods to the end consumerSwapna Pradhan Retailing Management 3ed.
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The MarketingRetail
Equation
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Manufacturer
Retailer
Consumer
Manufacturer
Consumer
Manufacturer
Wholesaler
Retailer
Consumer
Feedba
ck
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The Changing Retail
Landscape
Proximity to the customer
The Rise of consumerism
Introduction of the Private LabelTechnology
Retailers are no longer dependent on the manufacturers
to sell what is available and have emerged as the new
leaders in the marketing channel
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The Global Retail Market
Key challenges
Emergence of new markets
Empowered consumer
Technology enabled efficiencies
Rise of the E-age
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Key Players In The World Of Retail
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FortuneRank 2007
Company Revenues ($Mln)
Profits ($ Mln)
1 Wal-Mart Stores 351,139 11,284
32 Carrefour 99,014.7 2,846.2
44 Home Depot 90,837.0 5,761
55 Tesco 79,978.8 3,544.9
62 Metro 75,131 1,324.9
80 Kroger 66,111.2 1,114.9
94 Costco Wholesale 60,151.2 1,103.2
104 Royal Ahold 56,944.9 1,127.9
114 Sears Holdings 53,012 1,490
129 Walgreen 47,409 1,750
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Most Active Emerging Retail Markets
Rank Country Proportion of respondentsthat are actively looking in
each market or first openedthere in 2007
1 India 27%
2 Ukraine 24%
3 Russia 22%
4 Malaysia 19%
5 Turkey 13%
6 South Africa 12%
7 Thailand 11%
8 China 10%
9 Mexico 8%
10 Indonesia 6%
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Retail 2010: Things To Come
Key role of technology
Agility in response and integration within the
organisation
Competitive and cost advantages in retailers lines ofbusiness
In the light of environmental changes, retailers to rethink
their competitive strategies
Internet as a powerful channel of distribution Mobile commerce- a reality
Lifestyle retailing
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Ten Trends In Global Retailing
1. Social responsibility
2. Global consumer growth shifts away from the US
3. Commoditisation run amok
4. The rise of long tail retailing5. The fight to plant the flag in India
6. Retail investment in services
7. Emerging market investment in developed retailers
8. Multi-channel integration
9. Focus on customer experience
10. Retailers as world-class marketers
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Retail As A Career
Buying & Merchandising
Marketing
Store Operations
Sales Finance
Human Resources
Technology & e-commerce Visual Merchandising
Supply Chain Management & Logistics
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