Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account...

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Key Concepts

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Page 1: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Key Concepts

Page 2: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Over 1 million U.S. retailers employ more than 15 million people

Retailers account for 11.6 percent of U.S. employment

Retailing accounts for 13 percent of U.S. businesses

Retailers ring up almost $4 trillion in sales—nearly 40 percent of the U.S. GDP

Industry is dominated by a few giant organizations, such as Wal-Mart

Page 3: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

11.6% 13%

40%

Retailing as a %of U.S. employment

Retailing as a %of U.S. businesses

Retailing as a %of GDP

Page 4: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

IndependentRetailers

IndependentRetailers

Chain StoresChain Stores

FranchisesFranchises

Owned by a single person or partnership and not part of a larger retail institution

Owned by a single person or partnership and not part of a larger retail institution

Owned and operated as a group by a single organization

Owned and operated as a group by a single organization

The right to operate a business or sell a product

The right to operate a business or sell a product

Page 5: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Full Service Self Service

Discount stores Exclusive storesFactory outlets Warehouse clubs

Page 6: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

LO2

AssortmentAssortment PricePrice GrossGrossMarginMargin

Broad

Narrow

Broad

Med-Narrow

Medium

Med-Broad

Med-Broad

Broad

Med-Narrow

Narrow

Mod-High

Mod-High

Moderate

Mod High

Moderate

Mod Low

Mod Lo-low

Low-very low

Low

Low-High

Mod High

High

Low

Mod High

Low

Mod Low

Mod Low

Low

Low

Low-High

Type of RetailerType of Retailer

Specialty Store

Supermarket

Convenience Store

Drugstore

Full-line Discounter

Specialty Discounter

Warehouse Clubs

Off-price Retailer

Restaurant

Service Service LevelLevel

Mod Hi-High

High

Low

Low

Low-Mod

Mod-Low

Mod-Low

Low

Low

Low-High

Department Store

Page 7: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

The amount of money the

retailer makes as a

percentage of sales after

the cost of goods sold is

subtracted.

GrossMargin

GrossMargin

Page 8: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Department StoresDepartment Stores

Specialty StoresSpecialty Stores

SupermarketsSupermarkets

DrugstoresDrugstores

Convenience StoresConvenience Stores

Discount StoresDiscount Stores

RestaurantsRestaurants

Page 9: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Full-LineDiscounters

Specialty Discount Stores

WarehouseClubs

Off-PriceDiscount Retailers

Page 10: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

MassMerchandising

MassMerchandising

Retailing strategy using moderate to low prices on large quantities of merchandise and lower service to stimulate high turnover of products.

Page 11: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

SupercenterSupercenter

Retail store combining groceries and general merchandise goods with a wide range of services.

Retail store combining groceries and general merchandise goods with a wide range of services.

Full-line discountersFull-line discounters

Retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded “hard goods”.

Retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded “hard goods”.

Page 12: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

CategoryKillers

CategoryKillers

Specialty discount stores that heavily dominate their narrow merchandise segment.

Page 13: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Automatic VendingAutomatic Vending

Direct RetailingDirect Retailing

Direct MarketingDirect Marketing

Electronic RetailingElectronic Retailing

Page 14: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Door-to-DoorAvon, Mary KayDoor-to-Door

Avon, Mary Kay

Office-to-OfficeOffice-to-Office

Home Sales PartiesTupperware

Home Sales PartiesTupperware

Page 15: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

TelemarketingTelemarketing

Catalogs & Mail OrderCatalogs & Mail Order

Direct MailDirect Mail

Electronic RetailingOnline 24/7

Electronic RetailingOnline 24/7

Shop-at-home networksOn-line retailing

Page 16: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Business FormatFranchising

Business FormatFranchising

Product and Trade Name Franchising

Product and Trade Name Franchising

Page 17: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

LO5

Product and Trade Name Franchising

Product and Trade Name Franchising

Dealer agrees to sell products provided by a manufacturer or wholesaler.

Dealer agrees to sell products provided by a manufacturer or wholesaler.

BusinessFormat

Franchising

BusinessFormat

Franchising

An ongoing business relationship between a franchiser and a franchisee.

An ongoing business relationship between a franchiser and a franchisee.

Page 18: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

McDonald’sSouthlandSubwayBurger KingKFCPizza HutRadioShack

Taco Bell

Dairy Queen

Hooter’s

Jason’s Deli

Marble Slab

Quiznos Sub

Page 19: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Develop the “Six Ps”

Define & Select a Target Market

Page 20: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

STEP 1:Segment the Market

STEP 1:Segment the Market

DemographicsDemographics

GeographicsGeographics

PsychographicsPsychographics

Page 21: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

STEP 2:Choose the Retailing Mix

STEP 2:Choose the Retailing Mix

ProductProduct

PricePrice

PromotionPromotion

PlacePlace

PersonnelPersonnel

PresentationPresentation

Page 22: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

TargetTargetMarketMarket

ProductProduct

PricePrice

PlacePlace

PromotionPromotion

PersonnelPersonnel

PresentationPresentation

Page 23: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

LO6

ProductOffering

ProductOffering

The mix of products offered to the

consumer by the retailer; also

called the product assortment or

merchandise mix.

Page 24: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

AdvertisingAdvertising

Public RelationsPublic Relations

PublicityPublicity

Sales PromotionSales Promotion

Page 25: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Economic growth potential

Economic growth potential

CompetitionCompetition

GeographyGeography

Choosing a Community Choosing a Site

Freestanding StoreFreestanding Store

Shopping CenterShopping Center

MallMall

Page 26: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Neighborhood socioeconomics

Traffic flows

Land costs

Zoning regulations

Public transportation

Site’s visibility, parking, entrances and exits,accessibility, and safety

Fit with other stores

Page 27: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Design attracts shoppers

Activities and anchor stores draw customers

Ample parking Unified image Sharing of common area expenses

Expensive leases

Failure of common promotion efforts

Lease restrictions

Hours of operation

Anchor store domination

Direct competitors

Consumer time limits

Advantages Disadvantages

Page 28: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

QualityImage

High PriceHigh Price Low Price Low Price

Good ValueSingle Price Point

EDLP

Page 29: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

LO6

AtmosphereAtmosphere The overall impression

conveyed by a store’s physical

layout, décor, and surroundings

Page 30: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Employee type and densityEmployee type and density

Merchandise type and densityMerchandise type and density

Fixture type and densityFixture type and density

SoundSound

OdorsOdors

Visual factorsVisual factors

Page 31: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Suggestion SellingSuggestion Selling

Trading UpTrading Up

Two Common Two Common Retail SellingRetail SellingTechniquesTechniques

Page 32: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

Easy-to-use Web site Easy-to-use Web site

Product availabilityProduct availability

Simple returnsSimple returns

Page 33: Key Concepts. Over 1 million U.S. retailers employ more than 15 million people Retailers account for 11.6 percent of U.S. employment Retailing accounts.

New Developments in Retailing

InteractivityInteractivityConsumers areinvolved in the retail experience.

Consumers areinvolved in the retail experience.

M-commerceM-commercePurchasing goods through mobile devices.

Purchasing goods through mobile devices.


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