Presentation on theme: "Introduction to the world of retailing"— Presentation transcript:
1 Introduction to the world of retailing By Duane Martenson
2 What we are going to cover What Retailing isThe importance of retailingCareer 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 useThe Four P’s of MarketingProductDistributionPricePromotion
4 How do Retailers add value? Provide AssortmentBuy other products at the same timeBreak BulkBuy it in quantities customers wantHold InventoryBuy it at a convenient place when you want itOffer ServicesSee it before you buy; get credit; layaway
5 What do Retailers do for Corporate Social Responsibility McDonalds HousesStarbuck fair trade coffeeTarget community Give Back
6 Retail has changed! So has the career opportunities! To Today’s RetailerStore DesignMom and Pop StoreOperationsMISHuman ResourcesLoss PreventionFinanceReal EstatePromotion/Advertising
7 Misconceptions College not needed Low pay Long hours Boring Dead-end jobNo benefitsEveryone is part-timeUnstable environmentNo opportunity for women and minorities
8 The Retail Management Decision Process The World of Retailing (chapters 1-4)Environmental FactorsMacro– technology, social, ethical, politicalMicro– competition and customersCompetition –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 objectivesTargetsMerchandiseLong term competitive advantageWallmart vs Toys R UsSmall towns -- big townsWide Varity shallow selection – every toy madeLow price — low priceSelf service – Self service
11 Implementing the Retail Strategy Chapter 12-19 Retail Mix – combination of factors used to satisfy customer needs and influence their purchase decisionTypes of merchandise and servicePricingAdvertising and promotionStore design and merchandise displayLevel of customer serviceStore location
12 Store Design And Display Merchandise Assortment Wal-Mart’s Retail MixCustomer ServiceLocationRetail StrategyStore Design And DisplayMerchandise AssortmentCommunication MixPricing
21 Assignment 1 Interview somebody that has a career in the retail field. Ask questions in the following areasWhat 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 responsibilityAny ethical situation you have encountered.Post the interview as a video or podcast to introduction to retail wiki page. (YouTube, Blaberize…)
22 Assignment 2Use 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 IntegrationBreaking Bulk, Holding Inventory, Providing Assortment and ServicesSupply ChainAnything else you see fit…..Post to Introduction to Retail Wiki page.
23 Assignment 3Retail mixGo 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 ServiceStore Design and displayCommunication mixLocationMerchandise AssortmentPriceUse a digital story telling method or multimedia to illustrate the comparisons to document that is appropriate. (Blabberize, Comic Life, Prezi….) Post to wiki!