Marketing Retail Management Notes

1974 Words8 Pages
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…show more content…
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
Open Document