final study guide retailers - busn primarily from sale of retail * classified 3 ways- pg 371 * amount of service * product lines * relative prices * major types pg 377 * chain= 2+ outlets commonly owned and controlled * voluntary chain= wholesale sponsored engage in group buying * retailer cooperative= indépendant retailers set up central buying * franchise organization * merchandising conglomerate= combines diversified retailing lines under central ownership * major decisions retailers face * segmentation and targeting * store differentiation and positioning (part of retail strategy) * retail marketing mix * product * price * promotion * place * trends * shorter life cycle * wheel of retailing concept= start small and cheap and work your way up * non store retailing (online/phone) * retail convergence (everyone is selling same stuff at same price, more competition) * rise of mega retailers * rise in retail technology (RFID) * global expansion * retail as communities or hangouts * wholesaling * selling G+S for those who intent to resale * types? * merchant independently owned bush. takes tittle * broker does not take title of goods, brings buyers and sellers together * agent represents buyers or sellers on a permanent basis * manufactures’ sale whole selling by sellers or buyers themselves without independent whole seller
Chapter 14 promo mix tools * advertising * sales promo * personal selling * public relations * direct marketing integrated marketing= carefully integrating the many communications channels to deliver clear and consistent message. Why? consumers are bombarded