Retail Management Intro

8/4/2019 Retail Management Intro

1/25

Retail ManagementIntroduction
http://rds.yahoo.com/_ylt=A2KJkK5_.vtNnC4A3JSJzbkF;_ylu=X3oDMTBwaTA0bm8yBHBvcwMzBHNlYwNzcgR2dGlkA0kxMzhfODg-/SIG=1ka81218m/EXP=1308388095/**http:/images.search.yahoo.com/images/view?back=http://images.search.yahoo.com/search/images?p=management&js=1&ei=utf-8&fr=yfp-t-701-s&w=800&h=600&imgurl=www.mbacolleges.co.in/wp-content/uploads/2010/01/Nirma-University-Institute-of-Management-NUIM.jpg&rurl=http://www.mbacolleges.co.in/nirma-university-institute-of-management-nuim.html&size=96KB&name=Nirma+University...&p=management&oid=be7df312a4d1598682f5b10ab73a5626&fr2=&no=3&tt=30200000&sigr=12fe2b1gm&sigi=132e8r1av&sigb=12m5qhqs8&.crumb=ZPGkpXn6SAT


2/25

Retail

Sale of goods to end users, not for resale,but for use and consumption by thepurchaser

Old French wordretaillier (cut off bits)
http://rds.yahoo.com/_ylt=A2KJkK15_PtN4SsA0oOJzbkF;_ylu=X3oDMTBwaTA0bm8yBHBvcwMzBHNlYwNzcgR2dGlkA0kxMzhfODg-/SIG=1j51i25gn/EXP=1308388601/**http:/images.search.yahoo.com/images/view?back=http://images.search.yahoo.com/search/images?p=pampangas+best&js=1&ei=utf-8&fr=yfp-t-701-s&w=310&h=258&imgurl=images.mylot.com/userImages/images/postphotos/645131.jpg&rurl=http://www.mylot.com/w/photokeywords/kapampangan.aspx&size=33KB&name=Pampanga&http://rds.yahoo.com/_ylt=A2KJke5g._tNhVQAPLiJzbkF;_ylu=X3oDMTBwNDF1cGpzBHBvcwM2BHNlYwNzcgR2dGlkA0kxMzhfODg-/SIG=1ntb2r4ji/EXP=1308388320/**http:/images.search.yahoo.com/images/view?back=http://images.search.yahoo.com/search/images?p=retail+store&rs=0ni=20&fr=yfp-t-701-s&w=800&h=597&imgurl=www.retailpunkt.com/wp-content/uploads/2011/01/Retail-Store-Fashion-Boutique-Interior-Design-Jayson-Brunsdon-Lighting.jpg&rurl=http://www.retailpunkt.com/retail-fashion-boutique-interior-design-of-jayson-brunsdon-store/retail-store-fashion-boutique-interior-design-jayson-brunsdon-lighting&size=73KB&name=Retail+Store+Fas...&p=retail+store&oid=f3bd2e545262a209392fd840fea7dc35&fr2=&no=6&tt=4720000&sigr=152rtt3ih&sigi=13pq47p24&sigb=12m3q333l&.crumb=ZPGkpXn6SAT


3/25

Wholesale

Wholesale is the sale of goods,usually in quantity, for the purpose ofresale to consumers. Wholesale is

distinguished from retail, which is thedirect sale of goods to the consumer.
http://www.investorglossary.com/wholesale.htmhttp://rds.yahoo.com/_ylt=A0PDoX0X__tNX28ANLiJzbkF;_ylu=X3oDMTBwbmVsajY4BHBvcwM4BHNlYwNzcgR2dGlkA0kxMzhfODg-/SIG=1gvplvujk/EXP=1308389271/**http:/images.search.yahoo.com/images/view?back=http://images.search.yahoo.com/search/images?p=WHOLESALE&ei=UTF-8&fr=yfp-t-701&w=744&h=513&imgurl=uhwh.com/wp-content/uploads/2010/06/Wholesale.jpg&rurl=http://uhwh.com/wholesale-catalog/&size=42KB&name=Wholesale+Catalo...&p=WHOLESALE&oid=8bf8957c5976300aa8210dbd034275e2&fr2=&no=8&tt=14300000&sigr=112e671o6&sigi=11h0aejcf&sigb=12epr28cs&.crumb=ZPGkpXn6SAThttp://www.investorglossary.com/wholesale.htm


4/25

Management

The organization and coordination of theactivities of an enterprise in accordancewith certain policies and in achievement ofdefined objectives.

Management is often included as a factor ofproduction along with machines, materials,

and money. According to the managementguru Peter Drucker (1909-2005), the basictask of a management is twofold: marketingand innovation.
http://www.businessdictionary.com/definition/coordination.htmlhttp://www.businessdictionary.com/definition/activity.htmlhttp://www.investorwords.com/8749/accordance.htmlhttp://www.businessdictionary.com/definition/policy.htmlhttp://www.businessdictionary.com/definition/objective.htmlhttp://www.businessdictionary.com/definition/factor.htmlhttp://www.businessdictionary.com/definition/production.htmlhttp://www.businessdictionary.com/definition/machine.htmlhttp://www.businessdictionary.com/definition/material.htmlhttp://www.businessdictionary.com/definition/money.htmlhttp://www.investorwords.com/8751/according_to.htmlhttp://www.businessdictionary.com/definition/Peter-Drucker.htmlhttp://www.businessdictionary.com/definition/task.htmlhttp://www.businessdictionary.com/definition/marketing.htmlhttp://www.businessdictionary.com/definition/innovation.htmlhttp://www.businessdictionary.com/definition/innovation.htmlhttp://www.businessdictionary.com/definition/marketing.htmlhttp://www.businessdictionary.com/definition/task.htmlhttp://www.businessdictionary.com/definition/Peter-Drucker.htmlhttp://www.businessdictionary.com/definition/Peter-Drucker.htmlhttp://www.investorwords.com/8751/according_to.htmlhttp://www.businessdictionary.com/definition/money.htmlhttp://www.businessdictionary.com/definition/material.htmlhttp://www.businessdictionary.com/definition/machine.htmlhttp://www.businessdictionary.com/definition/production.htmlhttp://www.businessdictionary.com/definition/factor.htmlhttp://www.businessdictionary.com/definition/objective.htmlhttp://www.businessdictionary.com/definition/policy.htmlhttp://www.investorwords.com/8749/accordance.htmlhttp://www.businessdictionary.com/definition/activity.htmlhttp://www.businessdictionary.com/definition/coordination.html


5/25

Retailing

is a vital part of the business industrythat involves selling products andservices to consumers for their

individual or family use. Retailing canalso be defined as the timely deliveryof goods demanded by consumers at

an affordable and competitive price.


6/25

Retail Management

The process of bringing the ultimate user tothe main producer, through a series ofstages, where retailing is the last one. It isnot limited to quantities, but limited to theexact requirement of the ultimate user.

managing the retail side of a business suchas points of sale, stock control, and just-in-time purchasing


7/25

Retailing involves a set of businessactivities that adds value to the productsand services sold to the final consumersfor their personal, family or householduse. Retailers play a major role in thedistribution system by helpingmanufacturers to reach out to thecustomers and at the same time, offeringan array of value added services likebreaking bulk, providing assortment,holding inventory and providinginformation for their customers.


8/25

Issues in Retailing

How can we best serve our customerswhile earning a fair profit?

How can we stand out in a highly

competitive environment whereconsumers have too many choices?

How can we grow our business, while

retaining a core of loyal customers?


9/25

A TYPICAL TYPE OFDISTRIBUTION

MANUFACTURER

WHOLESALER

RETAILER

FINALCONSUMER


10/25

Distribution Types

1) Exclusive

2) Intensive

3) Selective


11/25

Customer Service

Activities undertaken by a retailer inconjunction with the basic goods andservices it sells.


12/25

Relationship Retailing

Seek to establish and maintain long-term bonds with customers, ratherthan act as if each sales transaction is

a completely new encounter


13/25

Functions of Retailing

Providing an assortment of productsand services

Breaking bulk

Holding inventory

Providing Services


14/25

Providing an assortment ofproducts and services - offering an assortment which

enables their customers to choosefrom a wide selection of brands,

designs, sizes, colors and prices atone location.


15/25

Breaking Bulk

- process wherein retailers offerproducts in smaller quantities tailoredto individual consumers and

households consumption patterns.


16/25

Holding Inventory

By doing these process, retailersreduce the cost the consumers wouldhave to pay to store products.


17/25

Providing Services

Retailers provide services that make iteasier for customers to buy and useproducts


18/25

Social and EconomicSignificance of Retailing Corporate Social Responsibility

describes the voluntary actions takenby a company to address the ethical,

social, and environmental impacts ofits business operations and theconcerns of its stakeholders

Retail Sales Employment

Global Retailers


19/25

Retail Industry

Is the largest private industry (aheadof finance and engineering)


20/25

Benefits of Retailing

Higher competition lead to higherquality of products and services

Enhances better lifestyle of its

customer Technological advancement

Provide variety to customers


21/25

Functions of a Retailer

Buying and assembling of goods Storing function

Develops personal contact with the

consumers Bears the risk in connection with

physical spoilage of goods

Bears the risk on account of fire, theft,etc.

Makes arrangement for delivery ofgoods


22/25

Examples of Retailers

Department Stores large storesranging from 20,000 50,000 sq.ft.

- catering to a variety of consumer

needs Discount Stores offer discounts on

the MRP through selling in bulk

reaching economies of scale orexcess stock left over at a season

Category killers or MBOs offer

several brands across a single product


23/25


Specialty Stores focusing on specificmarket segments and haveestablished themselves strongly intheir sectors.

Malls largest form of organizedretailing today; 60,000 sq.ft. to700,000 sq.ft or more.

- lend an ideal shopping experiencewith an amalgamation of products,services, and entertainment, all under

a common roof


24/25


Convenience Stores relatively smallstores (400 2,000 sq.ft.)

-located near residential areas

-usually open for extended periods (7days a week)

-prices are slightly higher due to the

convenience premium Hypermarkets/Supermarkets large

self-service outlets


25/25


E-tailers retailers who operate onlinestores to purchase their products

Vending machines automated piece

of equipment wherein customer candrop the money and acquire theproduct.

Retail Management Intro

Documents

Transcript of Retail Management Intro