Retail Management
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Transcript of Retail Management
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Retailing encompasses the business activities involved in selling goods & 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.
Key issues that retailer must resolve:
How can we best serve our customer while earning a fair profit?
How can we stand out in a highly competitive environment where customers have so many choices?
How can we grow our business while retailing a core of loyal customers?
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A Typical Channel of Distribution
Manufacturer WholesalerRetailer
Final consumer
Manufacturer Brand A
Manufacturer Brand B
Manufacturer Brand C
Manufacturer Brand D
Wholesaler
Wholesaler
Retailer
Brand A customers
Brand B customers
Brand C customers
Brand D customers
Retailers role in sorting process
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OwnershipStore-based retail
strategy mix
Nonstore-based retail strategy mix & nontraditional
retailing
• Independent• Chain• Franchise• Leased department• Vertical marketing
system• Consumer cooperative
• Convenience store• Conventional supermarket• Food-based supermarket• Combination store• Box (limited line) store• Warehouse store• Specialty store• Variety store• Traditional department store• Full-line department store• Off-price chain• Factory outlet• Membership club• Flea (louse) market
• Direct marketing• Direct selling• Vending machine• World wide web (WWW)
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Suppliers Third Party Logistics
Retail Operations
Customer Mgmt.
Customers
Support FunctionsSupport Functions
SystemsSystems
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The Retail Marketing
Mix
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Cust
om
er
Serv
ice
People
Bra
nd
Asso
ciatio
ns
Shopping Experience
Pricing
Promotion
Place / Location
Product / Merchandise features
PresentationRetail Store Image
The Adidas Retail StoreCA, USA
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Acquiring Product/Merchandise Knowledge
Studying the Customer
Approaching the Customer
Presenting the Merchandise
Overcoming Resistance
Suggestive Selling
Closing the Sale
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SupplierRaw material packaging warehouse Manufacturer
Manufacturer warehouse
Retailer warehouse
Retailer
Physica
l Flo
w
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Customer Service
“Customer service is a task, other than proactive selling, that involves interactions with customers in person or by telecommunication, mail or automated process. It is designed, performed & communicated with two goals in mind –
Operational Production
Customer Satisfaction
Customer Service focuses on measurement of how well a firm meets the established performance standards that are viewed as important for meeting customer needs.
Customer Satisfaction is how the customers measure externally the service performance of a firm.
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Lower Value Segment
Grow able Segment
Most Valued Segment
In-store PoS
Advertisement
Merchandising
Targeted Direct Mail
Added value services
Tailored, cross-learning based relationship
No. of customers
Value per customer
Lower value segment
Grow able Segment
Most Valuable Segment
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Thank you