Intro To Tretailing 6.2.09
- 1. Introduction to Retailing Retail Management McGraw-Hill/Irwin Levy/Weitz: Retailing Management, 5/e Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
- 2. Retailing – includes all the activities involved in selling the goods&services to the final consumer for personal,family, householduse or for nonbusiness purpose . Retail – The word retail is derived from a french word retaillier which means to cut off a piece or to break bulk. What is Retailing?
- 3. Examples of Retailers Retailers: -Reliance Retail, KFC, McDonalds, More,Subiksha,Spencers,VishalRetail,Bigbazar etc Firms that are retailers and wholesalers that sell to other business as well as consumers: -Metro,Office Depot(Stationery products).
- 4. How Retailers Add Value Breaking Bulk -Buy it in quantities customers want Holding Inventory -Buy it at a convenient place when you want it Providing Assortment -Buy other products at the same time Offering Services -See it before you buy, get credit,discount etc.
- 5. How Retailers Add Value Doll can be bought on credit or cash. Doll is featured on floor display Doll is offered in convenient locations in quantities of one Doll is developed in several styles Doll is developed at manufacturer The value of the product and service increases as the retailer performs functions.
- 6. Manufacturer’s Perspective The Four P’s of Marketing Distribution Retailers are part of the distribution channel Retailers are part of the distribution channel Product Price Promotion
- 8. Retailers are a Business Like Manufacturers Accounting Finance MIS Operations Marketing Human Resources
- 9. Decision Variables for Retailers Customer Service Store Design and Display Merchandise Assortment Communication Mix Location Pricing Retail Strategy
- 10. Economic Significance of Retailing Over 1lak cr in sales Employs 7% of population -about the same as manufacturing and growing. Management training opportunities Entrepreneurial opportunities
- 11. Nature of Retail Industry is Changing Mom and Pop Store To Today’s Retailer
- 12. Retailing is a High Tech Industry - Selling Merchandise over the Internet eg:ebay etc - Using Internet to manage supply chains - Analyze POS data to tailor assortments to stores - Computer systems for merchandise planning
- 13. Retail Environment Differs Across the Globe US INDIA Concentration High Medium Store Size Big Small Role of Low Low Wholesaling Efficiency High Low
- 14. Hot Topic’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design And Display
- 15. Misconceptions About Careers in Retailing Don’t need college education Low pay Long hours Boring Dead-end job No benefits Everyone is part-time Unstable environment
- 16. Why You Should Consider Retailing Entry level management positions -Department manager or FloorManager. -Manage and have P&L responsibility on your first job Starting pay will be average with great benefits - Store Staff are hired from XII Class onwards. No two days are alike. Worklife is challenging everyday. Management of people is a major role.
- 17. Types of Jobs in Retailing Most entry level jobs are in store management or buying, but… retailers also have staff specialists: --accounting and finance --real estate/Landteam --human resource management --supply chain management --advertising/promotions --public affairs