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| arises when a retailer performs some wholesaling and manufacturing activities, such as operating warehouses or designing private label merchandise (JCPenny sells Arizona jeans) |
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| To reduce transportation cost, manufacturers a wholesalers typically ship cases of frozen dinners or cartons of blouses to retailers. Retailers then offer the products in smaller quantities tailored to individual consumers' and households' consumption patterns |
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| Corporate Social Responsibility (CSR) |
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| involves an organization voluntarily taking responsibility for the impact of its activities on its employees, its consumers, the community and the environment |
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| principles governing individuals and companies that establish appropriate behavior and indicate what is right and wrong |
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| occurs when a manufacturer undertakes retailing and wholesaling activities, such as Ralph Lauren operating its own retail stores |
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| A major value-providing activity performed by retailers is __________ so that the products will be available when consumers want them. Also allows consumers to keep a smaller amount of inventory at home knowing that the store will always have more. |
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| competition between retailers that sell similar merchandise using different types of stores, such as discount and department stores |
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| Department stores will compete with department stores while supermarkets will compete with supermarkets. |
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| A business that sells products/services to consumers for their personal or family use |
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| The 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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| Indicates how the retailer plans to focus its resources to accomplish its objectives |
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| When retailers offer a product or service that is not generally provided at that type of store. (Walgreens selling clothes) |
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| a set of firms that make and deliver goods and services to consumers |
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| Means that a firm performs more than one set of activities in the channel, as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its stores |
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| Providing products to retailers. They are usually in-between the manufacturer and the retailer |
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| Kohl’s, Macy’s, Wendy’s, Amazon.com, Jiffy Lube, AMC Theaters, Lands End, Avon, J.Crew |
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| Firms that are retailers and wholesalers - sell to other business as well as consumers (Examples) |
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| Office Depot, Lowes, United Airlines, Bank of America, Costco |
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| Manufactures look at Retails.... |
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| As a form of distribution |
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| Retailers are the _____ _____ within a supply chain which links manufacturers to consumers. |
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| Manufacturer --> Wholesaler --> Retailer --> Consumer |
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| How do retailers add value? |
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| Provide assortment (Multiple items), Breaking bulk, Holding inventory, offer services (See it before you buy, layaway) |
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| Top retailer in the world is.... |
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| Doing the Right Thing ______ vs. Doing Things Right ______ |
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Made Infrequently
Long-term
Require significant investment
Not easily reversed |
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| Examples of Strategic Decisions |
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| Store Location, Organizational Design, Management Information Systems, Distribution Systems, and Customer Service |
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| A retail strategy should identify |
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the target market
the product and service mix (Retail Mix)
a long-term, sustainable comparative advantage |
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| Decision Variables for Retailers: |
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| customer service, merchandise assortment, LOCATION, communication mix, store design and display, pricing |
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