Mar 3231 Exam 1- Chapter 1

Front 1

Whats retailing

Back 1

Business that sells products or services, or both.
Final business in a supply chain that links manufatures to consumers

Front 2

Functions of retailers (4)

Back 2

1. Provide assortment of products and services
2. Breaking Bulk
3. Holding inventory
4. Providing services

Front 3

Economics significance (4)

Back 3

1. 4.5 trillion dollars in the US ( not including automotive industry) ( 8.1 of GDP)
2. 1.9 million retail firms in the US
3. 18% of US work force. 1 in 4.
4. Growing 25.6 million over next 4 years.

Front 4

Top 10a Retailers

Back 4

1. Walt mart 360,000,000
2. Kroger- 85,000,000
3. Target
4. Walgreens
5. Costco
6. Home depot
7. CVS
8. Lows
9. Best buy
10. Safeway

Front 5

Walt-Mart Facts (3)

Back 5

1. 1983 First greater
2. 1972 NYST
3. 400,000 stors 500,000 Int.

Front 6

Retails in lecture 1. (4)

Back 6

1. walt-mart
2. amazon
3. build the bear
4. Ikea

Front 7

Retailing

Back 7

is the set of business activities that adds value to the products and services sold to consumers for hier personal or family use.

Front 8

supply chain

Back 8

is a set of firms that make and deliver manufacturers to consumers.

Front 9

Vertical integration

Back 9

More the one activity in the supply chain

Front 10

Intertype competition

Back 10

same type, wal-mart.

Front 11

scrambled merchandising

Back 11

cloth in a drug store that creates intertype competition

Front 12

Intertype competition

Back 12

competition between retailers that sell similar merchandise using different types of stoere such as discount and department stores.

Front 13

Two parts of micro-environment

Back 13

competitors and consumers

Front 14

Retail management decision process

Back 14

1. Understanding the world of retail
2. Developing a retail strategy ( formulating and implementing . )
3. Implementing

Front 15

Components of Retail strategy

Back 15

1. target mkt.,
2. nature of merchandise
3. long term advantages over competition

Front 16

strategic decision areas (7)

Back 16

key strategic decision areas for a fim involve the
1. definition of its market,
2. financial status,
3 location,
4organizational and human resource structure , 5i nformaction systmes ,
6supply chain
7consumer relationships.

Front 17

Retail mix

Back 17

1. customer service
2. store design
3. Communication mix
4. location
5. merchandise management
6. pricing

Front 18

retail mix define

Back 18

is a set of decisions retailers mek to satisfy customer needs and influence their purchase decisions.