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INTRODUCTION TO THE WORLD OF RETAILING By Duane Martenson.

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Presentation on theme: "INTRODUCTION TO THE WORLD OF RETAILING By Duane Martenson."— Presentation transcript:

1 INTRODUCTION TO THE WORLD OF RETAILING By Duane Martenson

2 What we are going to cover  What Retailing is  The importance of retailing  Career opportunities in retail

3 What is retailing to you?  Retailing – a set of business activities that adds value to the products and services sold to consumers for their personal or family use The Four P’s of Marketing Distribution Product Price Promotion

4 How do Retailers add value? ■ Provide Assortment Buy other products at the same time ■ Break Bulk Buy it in quantities customers want ■ Hold Inventory Buy it at a convenient place when you want it ■ Offer Services See it before you buy; get credit; layaway

5 What do Retailers do for Corporate Social Responsibility  McDonalds Houses  Starbuck fair trade coffee  Target community Give Back

6 Retail has changed! So has the career opportunities! Mom and Pop Store To Today’s Retailer MIS Real Estate Operations Finance Promotion/Advertising Human Resources Loss Prevention Store Design

7 Misconceptions ■ College not needed ■ Low pay ■ Long hours ■ Boring ■ Dead-end job ■ No benefits ■ Everyone is part-time ■ Unstable environment ■ No opportunity for women and minorities

8 The Retail Management Decision Process The World of Retailing (chapters 1-4)  Environmental Factors  Macro– technology, social, ethical, political  Micro– competition and customers Competition – Intratype competition– between same type retialer (supermarket vs supermarket) Greater Variety of products makes for scrambled merchandising thus increased Intertype competition. (examples of scrambled merchandising??) Customers – Consumer Behavior

9 The Retail Management Decision Process Retailing Strategy (chapters 5-11)  How the firm plans to focus its resources to accomplish objectives  Targets  Merchandise  Long term competitive advantage  Wallmart vs Toys R Us Small towns -- big towns Wide Varity shallow selection – every toy made Low price — low price Self service – Self service

10 The Retail Management Decision Process Retailing Strategy (chapters 5-11) Cont.  Strategic Decision Area  Marketing strategy  Financial strategy  Location strategy  Organizational structure  Human Resource  Information systems  Supply Chain Strategies  CRM

11 Implementing the Retail Strategy Chapter  Retail Mix – combination of factors used to satisfy customer needs and influence their purchase decision  Types of merchandise and service  Pricing  Advertising and promotion  Store design and merchandise display  Level of customer service  Store location

12 1-12 Wal-Mart’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment Pricing Communication Mix Store Design And Display

13 1-13 Wal-Mart’s Retail Mix Free-standing Stores Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design Location Strategy

14 1-14 Wal-Mart’s Retail Mix Location Pricing Communication Mix Store Design and Display Customer Service Large Number of Categories Few Items in Each Category Assortment Strategy

15 1-15 Wal-Mart’s Retail Mix Location Communication Mix Store Design and Display Customer Service Merchandise Assortment Low, EDLP Pricing Strategy

16 1-16 Wal-Mart’s Retail Mix Communication Mix TV and Newspaper Insert Ads Location Pricing Store Design and Display Customer Service Merchandise Assortment

17 1-17 Wal-Mart’s Retail Mix Store Design and Display Basic, Special Displays for Products Customer Service Location Merchandise Assortments Pricing Communication Mix

18 1-18 Wal-Mart’s Retail Mix Customer Service Limited Location Merchandise Assortment Pricing Communication Mix Store Design and Display

19 Checklist for Making Ethical Decisions

20 Rubric For Assignments

21 Assignment 1  Interview somebody that has a career in the retail field.  Ask questions in the following areas What is an average day like for your position? What career opportunities in retail do they see for someone with a degree in business? What are the benefits and draw back to working in retail? What does their business do for social responsibility Any ethical situation you have encountered.  Post the interview as a video or podcast to introduction to retail wiki page. (YouTube, Blaberize…)

22 Assignment 2  Use Screencasting or Digital Storytelling that illustrates the role retailers play in the distribution chain. (Prezi or Photopeach, or Adobe would work well… others?)  Terms to use:  Backward/Forward Integration or Vertical Integration  Breaking Bulk, Holding Inventory, Providing Assortment and Services  Supply Chain  Anything else you see fit…..  Post to Introduction to Retail Wiki page.

23 Assignment 3  Retail mix  Go to two local retailers that are intertype Competitors and compare their retail mix. Examples (Walmart and Kmart) (Safeway and FTC) (Deer Mt. and Terry Peak) Customer Service Store Design and display Communication mix Location Merchandise Assortment Price  Use a digital story telling method or multimedia to illustrate the comparisons to document that is appropriate. (Blabberize, Comic Life, Prezi….) Post to wiki!


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