chap 1

28問 • 1年前

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encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer-ranging from cars to apparel to meals at restaurants to movie tickets.

retailing

This is the last stage in the distribution process from supplier to consumer.

retailing

derived from the French word retaillier, meaning 'to cut a piece of or 'to break bulk'.

retail

French word of retail

retaillier

Retailers collect an assortment from various sources, buy in large quantities, and sell in small amounts

sorting process

associated with a retailer having separate channels-store and Web-as alternatives. A traditional multichannel retail environment has few linkages among these channel alternatives.

multichannel retailing

focuses on how multiple channels interact with each other and the customer. A successful omnichannel setup keeps customer data and product data synced across channels.

omnichannel strategy

A typical channel of distribution

manufacturer, wholesaler, retailer, end-use

is a person, agent, agency, company, or organization, which is instrumental in reaching the goods, merchandise, or services to the ultimate consumer.

retailer

Three types of distribution

exclusive, intensive, and selective distribution

whereby suppliers make agreements with one or a few retailers that designate the latter as the only ones in specified geographic areas to carry certain brands or products

exclusive

whereby suppliers sell through as many retailers as possible.

intensive

suppliers sell through a moderate number of retailers. This combines aspects of exclusive and intensive distribution

selective

is the overall plan guiding a retail firm. It influences the firm's business activities and its response to market forces, such as competition and the economy. Any retailer, regardless of size or type, should utilize these six steps in strategic planning:

retail strategy

the world's largest home improvement retail chain and the ninth largest retailer globally in terms of revenues. It was established in 1978 by BemicMarcus (a pharmacist by training), Arthur Blank (educated an accountant), Ken Langone (an investment banker), and Pat Farrah (who had merchandising background

home depot

Disciplined capital allocation continuous optimization of productivity, and efficient. Operations allow Home Depot to lower its operating costs and increase shareholder wealth.

growth strategy

Home depot serves three major market segments

do-it-yourself, do-it-for-me, professional

is the nickname by which Home Depot is known all over the world. The bright orange logo was inspired by crates used to transport freight, keeping in line with the "depot" theme. Stamped at an upright angle to symbolize success and in bright orange to help simulate activity, the logo appears on signs, equipment, and employee aprons.

big orange

The multichannel programs enable Home Depot to effectively leverage its store nerwork: 3

BOSS (buy online, ship to store) Bopis (buy online, pick up in store) Boris (buy online, return in store)

Retailing concept (4)

customer orientation, coordinated effort, value driven, goal orientation

The retailer determines the attributes and needs of its customers and endeavors to satisfy these needs to the fullest

customer orientation

retailer integrates all plans and activities to maximize efficiency

coordinated effort

The retailer offers good value to customers, whether it be upscale or discount

value driven

retailer sets goals and then uses its strategy to attain them

goal orientation

Special characteristics affecting retailers : retailers strategy

small average sale, impulse purchases, popularity of stores

The rapid adoption of E-commerce and the proliferation of smart mobile devices makes it seem possible to purchase anything, anytime, and have it delivered anywhere. Such thinking has fundamentally changed onsumers' shopping habits and expectations. Almost every customer encounters a total retail experience in his or her retail journey. The _____ includes all the elements in a retail offering that encourage or inhibit consumers during their contact or journey with a retail

total retail experience

refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells. It has a strong impact on the total retail experience

customer service

The best retailers know it is in their interest to engage in relationship retailing, whereby they seck to establish and maintain long-term bonds with customers, rather than act as if each sales transaction is a completely new encounter.

relationship retailing

Chap 1

Jake Matthew · 10問 · 1年前

Chap 1