Essay on Marketing Retail Management Notes
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…
Differences among the channels
1. Information provided to customers. (Store, Catalog, & Internet)
2. Availability: (Store: hours, catalog: placing orders, Internet 24/7)
3. Cost: (Store, Catalog, Internet: expenses)
What Merchandise will be sold successfully through electronic channel?
"Look and See" attributes vs. "Touch and Feel" attributes
Degree to which information can be used to predict satisfaction prior to purchases o Gifts
Might not need to "Touch and Feel" o "touch and feel" not useful- gifts o Superior presentation of "Tpich and Feel" o Branding
When the electronic channel provides superior Benefits GIFTS Saves Time Saves effort in packing Saves effort and Delivery Services No shipping problems Examples Travel websites