Chapter 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| RETAILING | A set of business activities that adds value to the products and services sold to consumers for their personal or family use
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| RETAILER | A business that sells products and/or services to consumers for personal or family use
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| FIRMS THAT ARE RETAILERS AND WHOLESALERS? | Office Depot, The Home Depot, United Airlines, Bank of America
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| SUPPLY CHAIN: | A set of that make and deliver a given set of goods and services to the ultimate consumer
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| TYPICAL SUPPLY CHAIN NETWORK: | Suppliers>Plants>Distribution Centers>Retailers>Customers
ex) Manufacturing>Wholesalers>Retailers>Consumer
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| VERTICAL INTEGRATION | Firm performs more than one set of activities in the supply chain ex)retailer invest in wholesaling and manufacturing
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| BACKWARD INTEGRATION | Retailer performs some distribution and manufacturing ex)JCPenny sales Arizona jeans (private label)
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| FORWARD INTEGRATION | Manufacturers undertake retailing activities ex)Ralph Lauren operates in own stores
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| HOW DO RETAILERS ADD VALUE? | 1)Provide Assortment 2)Break Bulk 3)Hold Inventory 4)Offer Services
"Value of product/service increases as the retailer performs functions".
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| RETAIL MANAGEMENT DECISION PROCESS: [THE WORLD OF RETAILING] | Introduction to the world of retail, types of retail, multichannel retailing, customer buying behavior
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| WHAT SHOULD A RETAIL STRATEGY IDENTIFY? | The target market, the product and service mix, a long-term comparative advantage
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| DECISION VARIABLES FOR RETAILERS: [MARKETING MIX] | Customer service, merchandise assortment, location, communication mix, pricing, store design and display
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| ENVIRONMENT: [MACRO AND MICRO] | Macro= financial and social aspects; Micro=customers and competitors aspects
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| COMPETITION: [INTRA-TYPE AND INTER-TYPE] | Intra-type:similar merchandise and similar formats; Inter-type=similar merchandise and different formats
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
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