Aishath rasheeda MA41 2015 pg. 1
A1.
a) Retailing is a distribution channel function where one organization buys products from supplying firms or manufactures the product themselves, and then sells these directly to consumers. A retailer is a reseller (i.e., obtains product from one party in order to sell to another) from which a consumer purchases products. In the UK alone there are over 1,100,000 retailers according to the 2014 UK Census of Retail Trade.
b) Retail expansion is The process of offering a product or service to a wider section of an existing market or into a new demographic, psychographic or geographic market.
There are two types of retail expansion, 1st one is internal and the second one is external
-Internal expansion
When a company is able to increase business operations without outside activities (advertising and marketing) based on the case study they are trying to open different shops in different areas to improve their profit and promote their business. …show more content…
Increase in the value of a firm through internal expansion, acquisitions, and/or mergers.
II. Increase in value of certain assets (such as land, liquor, livestock, and timber) due to passage of time, and which can be turned into cash (realized) only upon eventual sale of the asset.
-External expansion
They can display their products and they can advertise. increasing customer sophistication indicates a greater necessity to market the company’s products more effectively to create brand awareness while keeping costs down.
c) Retail outlets A store that sells smaller quantities of products or services to the general public. A business that operates as a retail outlet will typically buy goods directly from manufacturers or wholesale suppliers at a volume discount and will then mark them up in price for sale to end consumers.
- Types of retail outlets
Department Stores
Department stores provide a wide range of options to the consumers and thus fulfill all their shopping needs.
Discount
A1.
a) Retailing is a distribution channel function where one organization buys products from supplying firms or manufactures the product themselves, and then sells these directly to consumers. A retailer is a reseller (i.e., obtains product from one party in order to sell to another) from which a consumer purchases products. In the UK alone there are over 1,100,000 retailers according to the 2014 UK Census of Retail Trade.
b) Retail expansion is The process of offering a product or service to a wider section of an existing market or into a new demographic, psychographic or geographic market.
There are two types of retail expansion, 1st one is internal and the second one is external
-Internal expansion
When a company is able to increase business operations without outside activities (advertising and marketing) based on the case study they are trying to open different shops in different areas to improve their profit and promote their business. …show more content…
Increase in the value of a firm through internal expansion, acquisitions, and/or mergers.
II. Increase in value of certain assets (such as land, liquor, livestock, and timber) due to passage of time, and which can be turned into cash (realized) only upon eventual sale of the asset.
-External expansion
They can display their products and they can advertise. increasing customer sophistication indicates a greater necessity to market the company’s products more effectively to create brand awareness while keeping costs down.
c) Retail outlets A store that sells smaller quantities of products or services to the general public. A business that operates as a retail outlet will typically buy goods directly from manufacturers or wholesale suppliers at a volume discount and will then mark them up in price for sale to end consumers.
- Types of retail outlets
Department Stores
Department stores provide a wide range of options to the consumers and thus fulfill all their shopping needs.
Discount