Chapter 1 Introduction to the World of Retailing McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.

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Presentation transcript:

Chapter 1 Introduction to the World of Retailing McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.

1-2 What is Retailing? Retailing – a set of business activities that adds value to the products and services sold to consumers for their personal or family use A retailer is a business that sells products and/or services to consumers for personal or family use.

1-3 How 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 Ryan McVay/Getty Images

1-4 How Retailers Add Value The value of the product and service increases as the retailer performs functions. Bicycle is developed at manufacturer Bicycle is developed in several styles Bicycle is offered in convenient locations in quantities of one Bicycle is featured on floor display Bicycle can be bought on credit or put on layaway

1-5 Examples: How Retailers Add Values BagBorrowerSteal.com jewelry and bag rental; Get (not buy, but borrow) exactly what you want Home Depot DIYer (Do-it-yourselfer); Learn how to do it yourself with in-store clinics and online workshops

1-6 World’s 20 Largest Retailers in 2005

1-7 Nature of Retail Industry is Changing Mom and Pop Store To Today’s Retailer

1-8 Target’s Retail Mix Retail Strategy Customer ServiceLocation Merchandise Assortment Pricing Communication Mix Store Design and Display

1-9 Target’s Retail Mix Free-standing Stores Customer Service Merchandise Assortment Pricing Communication Mix Store Display And Design Location Strategy

1-10 Target’s Retail Mix Location Pricing Communication Mix Store Design and Display Customer Service Large Number of Categories Private Labels Few Items in Each Category Assortment Strategy

1-11 Target’s Retail Mix Location Communication Mix Store Design and Display Customer Service Merchandise Assortment Low to Modest Pricing Strategy

1-12 Target’s Retail Mix Communication Mix TV and Newspaper Insert Ads Store Design And Display Customer Service Location Merchandise Assortment Pricing

1-13 Target’s Retail Mix Store Design and Display Colorful, wide aisles displays for products with a grid layout Customer ServiceLocation Merchandise Assortments PricingCommunication Mix

1-14 Target’s Retail Mix Customer Service Limited Location Merchandise Assortment Pricing Communication Mix Store Design and Display