Marketing Retail Management Notes

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MKT 307 Wednesday, January 16, 2008

Retail can occur in more than just a store… (i.e., Doctor's Office, Hair Salon, etc.) As long as there is a monetary transaction; can be tangible or IN-tangible

What is RETAILING?
RETAILING is a set of business activities that adds value to the products and services sold to consumers for their personal or family use.

A RETAILER is a business that sells products and/or services to consumers por personal or family use.

THE CHANNEL OF DISTRIBUTION
Manufacturing  Wholesaler  Retailer  Consumer
*In some cases, steps can be eliminated to save money & increase profit

Manufacturing, Wholesaling, and Retailing

Vertical Integration- firm performs more than one
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Order processing and status ii. Customer database iii. Personalization software

Issues confronting a mutli-channel retailer Maintainingbranding image across Channels Merchandise assortment offered in each channel Pricing across channels

"If you show it in the catalog or on the website, have it in the store for the people!!!"

Friday February 8, 2008

Extended Problem Solving

Consumers vote time and effort analyzing alternatives

Financial Risks- purchasing expensive products or services
Physical Risks- pur

LOOK AT THESE PAGES FOR THE TEST

6, 7, 33, 71, 73, 74, 76, 94-98, 103, 105, 128, 131, 133, 135, 139

MKT 307 Retail Management February 18, 2008

Objectives and Goals

• Objectives guide the development of the retailer's strategy
• Performance goals determine if the objectives are being achieved

Retailer Objectives

Financial-not necessarily profits, but return on investment (ROI)- primary focus

Return on assets (ROA)- the profit return on all the assets possessed by the firm

Pg. 161
Ex: Kelly set a financial objective of making a profit of at least $100,000 a year, but she really needs to consider how much she needs to invest to make the $100,000

Societal- helping to improve the world around us

Ex: retailers providing employment opportunities for people in a particular area or more specifically for minorities or the handicapped, offering unique merchandise such as
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