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Business Studies

Ch 22

TermDefinition
Industry in Ireland can be divided into four main groups: Extractive,Construction,Manufacturing,Service.
Extractive Industries are those which extract or take raw materials from the land,sea,air.
Construction Industry refers tp those firms involved in the building of houses,factories,roads,etc.
Manufacturing Industry is made up of firms which manufacture or make finished products for the consumer.
Service Industries provide a service to the consumer, e.g. insurance,banking,etc.
Types of Production Primary,Secondary and Tertiary Production.
Primary Production includes all the extractive industries. e.g.forest
Secondary Production includes the construction and manufacturing industries.e.g.factory
Tertiary Production includes all the service industries.e.g.shop
A Channel of Distribution refers to the method by which goods and services get from the producer to the consumer.
Wholesaler buys in bulk from the manufacturer and sells in smaller quantities to the retailer.
Manufacturer a person or company that makes goods for sale. (producer)
Retailer is a persom who buys goods and services from manufacturers or wholesalers and sells them in small quantities to the consumer as a profit.
Cash and Carry have their stores laid out like supermarkets and carry very large stock.
Independent Retailer/Unit Shop generally sole traders who operate small shops.e.g.newsagents
Multiple Store is a retail organisation which has a number of branches around a country and sells one type of product.e.g.HMV
Chain Store is a retail organisation with a number of branches around a country and sells a variety of goods.e.g.Dunnes
Supermarket is a large self service retail organisation selling a variety of goods.e.g.Tesco
Voluntary Retail Group a group of retailers who agree to buy their dtock from one particular wholesaler only.e.g.Mace
Department Store is a large store selling a variety of goods under one roof.e.g.Clerys
Discount Stores specialise in a particular range of goods.e.g.PC World
Mail Order Firms are retail organisation which sell goods through the post.
Shopping Centres are buildings containing a large number of shops selling a wide variety of goods.
A Franchise is when the owners of a business give permission to another person to set up a branch of their business in another location.
 

 



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