...------------------------------------------------- Retailing A person who can communicate well, convince people easily, and sell something right off, fit well in the retailing business. By serving as the middleperson of producers and consumers, a retailer can earn money easily by selling food, apparel, home furnishings, appliances, automobile parts, and many other kinds of goods. Retailing is selling goods directly to consumers. This entrepreneurial activity is based on the understanding that while a customer keeps buying and never lets up, there are actually certain factors that keep a retailer’s sales up. Consumables and other products with recurring sales value have to be placed regularly on the customers’ homes and ultimately on the retailers’ shelves. Types of Retailing 1. Store-based retailing – Store retailing can take form of an over-the-counter service or a self-service store, a big department store, or a small kiosk offering a variety of goods. Store retailers operate on a fixed location which can draw a lot of walk-in customers. * Supermarket a large self-service store that carries a wide variety of household, food, and laundry products. Examples are Rustan’s Supermarket, SM Supermarket, and The Landmark Supermarket. * Convenience store a retail store that is located near a residential area that is usually open 24 hours a day , 7 days a week. Examples are Ministop, 7-Eleven, Shell Select, Caltex Starmart, and Petron Treats. The growth of the call...
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...Functions of retailing From the customer point of view, the retailer serves him by providing the goods that he needs in the required assortment, at the required place and time. 1. Arranging Assortment:manufacturers usually make one or a variety of products and would like to sell their entire inventory to few buyers to reduce costs. Final consumers, in contrast prefer a large variety of goods and services to choose from and usually buy them in small units. 2. Breaking Bulk: to reduce transportation costs, manufacturer and wholesalers typically ship large cartons of the products, which are then tailored by the retailers into smaller quantities to meet individual consumption needs 3. Holding stock: Retailers maintain an inventory that allows for instant availability of the product to the consumers. It helps to keep prices stable and enables the manufacture to regulate production. 4. Promotional support: small manufacturers can use retailers to provide assistance with transport, storage, advertising, and pre- payment of merchandise. The Retailer also serves the manufacturers by 1. Accomplishing the function of distributing the goods to the end users 2. Creating and Managing a channel of information from manufacturer to the consumer 3. Act as a final link in the distribution chain 4. Recommending products where brand loyalty is not strong or for unbranded products. The Role of the Retailer by Pride Scott Wright while the companies profiled...
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...La Rosa, Maria Sophia S. BSBA – MM3 CHAPTER 7: MARKET SELECTION AND RETAIL LOCATION ANALYSIS 1. Why should retailers be concerned about selecting the right target market? How are target market selection and location related? Retailers should be concerned about selecting the right target market because their target market is their potential customers. These are the people who are most likely to buy their products or to buy from their stores. For the follow up question, target market selection and location are related to each other with regards to reaching the target customers. Location is a very important thing to consider when targeting a segment. Retailers should also be concerned not only with the demographics of their market but with the geographics as well. It would help the retailers in reaching their target markets and it could also help minimize the marketing costs and ensure the focus on the right target market. 2. What three criteria should be met to successfully target a market? The three criteria that should be met to successfully target a market are measurability, accessibility, and substantiality. 3. What types of retailers would be best suited for locating in a lifestyle center? For me, I think specialty and convenience retailers would be best suited to be located in a lifestyle center. 4. Why are some shopping centers and malls now using big-box stores such as Home Depot, Bass Pro Shops and Kaplan’s as anchors? Aren’t anchor stores supposed...
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...Part I: Under content, Mar 28-Apr 3, you will find a spreadsheet called Merchandise budget plan, as well as a word document called Merchandise budget plan practice. Use this video link to understand how to make this merchandise budget plan. Then solve the practice problems. https://web.ung.edu/media/facstaff/vsangtani/sangtani.mp4 Refer to the merchandise budget plan below to answer these questions: 1. Monthly sales for November in dollars = $ 1940695.104 2. The BOM inventory for July is: 3202146.922 3. Monthly reductions for September in dollars are: 631736.68 4. Monthly additions for October are: 4465620.22 5. EOM inventory for September is: 3202146.922 Part II: Solve the problems below related to chapter 16. This is also on the video. 1. What should be the initial markup percent in a department having the following figures? (Formula page 412 – required initial markup percentage). Net sales = $150,000 Profit = $7,000 Expenses = $45,000 Reductions = $12,000 Initial markup percentage = 640000/162000 = 39.5% 2. What should be the Reductions in a department having the following figures? (Formula page 412 – required initial markup percentage). Net sales = $150,000 Profit = $6,000 Expenses = $60,000 Initial markup percentage = 52.33% Reductions = 26211.45 3. Given the following information, calculate open to buy at retail and cost (formula page 411. You will have to calculate planned purchases first using...
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...Definition Specialty Store A small retail outlet that focuses on selling a particular product range and associated items. Most specialty store business operators will maintain considerable depth in the type of product that they specialize in selling, usually at premium prices, in addition to providing higher service quality and expert guidance to shoppers. (www.businessdictionary.com) Specialty stores are retail businesses that focus on specific product categories, such as office supplies, men's or women's clothing, and carpet. It isn't the product they sell that determines if a company is a specialty store but rather the breadth of their product offering. If a company could be considered an expert in a certain type of good, it is a specialty store. (www.educationportal.com) Company Introduction IKEA is one of the best private furniture based companies in the world which started in a small village of Agunnaryd in Sweden. A company which has the experience of working for more than 6 decades around the globe, which currently is operating in 40 countries around. IKEA is a company which has always focused itself towards creating a better future for the people by producing reliable furniture at a low cost. The basic concept of the company is based on southern Sweden which has thin soil and poor people and they use their hard work to survive. The genius behind the company made sure that all these values were transferred to the company and its core values were...
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...Retail is the business of selling goods made by others to individual consumers. It’s a fragmented industry. The production in this industry is divided into different companies, yet, no single company has large enough share in the market to be able to influence the industry’s direction or price levels. Since, I’ve spent few years in retail I’ll discuss some factors, practices and challenges that my previous company encountered and discuss my value proposals on how to increase profits. One of the most critical challenges that the retailers faced in all line of business was to provide consistently high quality goods and services to consumers. There is a growing group of evidence indicating that providing high quality of goods and services enhances profitability, increase market share and return on investment and reduces cost at the same time. It seems possible that the current emphasis on improving and maintaining high quality will have a substantial influence on industry’s practice all this years. Below are some of the common challenges that stop generating sale in the retail industry: Physical challenges – (supplies or stocks that are missing, inaccessible or absent). This is commonly happening to retail shops such as stocks not arrived on time, equipment is broken or inadequate, systems are down or slow, and templates are outdated and etc. physical factors that leads to no sale at all. Time Challenges – (not enough time to get all duties completed). It’s always seem to be more...
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...1.)(a) Nonstore retailing- it is alternatives such as online retailing are growing as a convenient way for two income households to shop. Television home shopping, direct mail, and catalogs also provide convenient retailing alternatives to these households. (b) The retailing mix- retailers will have to adjust their mix in terms of store hour and locations. Working couples may need to shop at less traditional times and in locations convenient form their work location. Also, credit cards and online ordering may become more important because of the time pressure on these types of households. 2.) Maintained markup differs from original markup in an important way. Maintained markup is the final selling price less retailer’s cost. Original markup refers to the difference between the retailer cost and the initial selling price. Initial markup is what the retailer hopes to get for the product; maintained markup is what the retailer can actually sell an item for to consumers. It must cover costs for a retailer to show a profit. 3.) The retail and product life cycles are similar in that they consist of four stages over which market share and profit (from sales) are matched. In the first stage of each life cycle, new retail forms or products enter the market. Competition emerges in the second stage, and by the maturity stage, the major fighting between competitors has occurred. In decline stage, both curves show falls in market share and profit). Differences relate to nomenclature. The...
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...downloaded by: [Manchester Metropolitan University] On: 18 November 2011, At: 08:18 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK The International Review of Retail, Distribution and Consumer Research Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/rirr20 Failure in international retailing: research propositions Steve Burt , John Dawson & Leigh Sparks a a b c Institute for Retail Studies, University of Stirling, Stirling FK9 4LA, UK E-mail: s.l.burt@stir.ac.uk b The University of Edinburgh Management School, 50 George Square, Edinburgh EH8 9YI, UK E-mail: john.dawson@ed.ac.uk c Institute for Retail Studies, University of Stirling, Stirling FK9 4LA, UK E-mail: leigh.sparks@stir.ac.uk Available online: 15 Apr 2011 To cite this article: Steve Burt, John Dawson & Leigh Sparks (2003): Failure in international retailing: research propositions, The International Review of Retail, Distribution and Consumer Research, 13:4, 355-373 To link to this article: http://dx.doi.org/10.1080/0959396032000129471 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www.tandfonline.com/page/terms-andconditions This article may be used for research, teaching, and private study purposes. Any substantial or systematic reproduction, redistribution, reselling, loan, sub-licensing,...
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...CONSUMER BEHAVIOUR IN THE INDIAN RETAIL SECTOR CONSUMER BEHAVIOUR IN THE INDIAN RETAIL SECTOR PROJECT REPORT ON Submitted By PATHAN SHAHID KHAN UNDER THE GUIDANCE OF Prof. Rafana Kazi in partial fulfilment for the award of the degree of MMS Anjuman-I-Islam’s Allana Institute of Management Studies Mumbai 400 001 2014-15 APPENDIX 1 Anjuman-I-Islam’s Allana Institute of Management Studies Badruddin Tyabji Marg, OFF. 92, Dr. D.N. Road, Opp. CST, Mumbai 400 001 Certificate This is to certify that Pathan Shahid Zuber Khan, a student of Anjuman-I-Islam’s Allana Institute of Management Studies (AIAIMS) pursuing final year in MMS has completed the dissertation report on Market analysis of LG consumer durables in the 2014-15 Date:__________________ Place:__________________ _____________________Prof. Rafana KaziProject GuideAIAIMS | ________________________Dr. Lukman PatelDirectorAIAIMS | DECLARATION Project Title: Market analysis of LG consumer durables Submitted on: Under the Guidance of: Prof. Rafana Kazi College: Allana Institute of Management Studies (AIAIMS) This is to declare that I, Pathan Shahid Khan, student of Allana Institute of Management Studies (AIAIMS) IVth semester (Marketing) hereby declare that I have completed the project on Market analysis of LG consumer durables in the Academic year 2015 The information submitted is true and original to the best of my knowledge. Date: <Date of Submission> Place: Mumbai (SIGNATURE) Pathan Shahid...
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...Outline-Chapter 18 (12th) Establishing and Maintaining a Retail Image To be successful a retailer needs a superior communication strategy to position itself in the customer’s mind-i.e.-establish and maintain an image. Image--how the retailer is defined in the customer’s mind based on both functional and psychological attributes (how the retailer is perceived by the customer). Positioning--the strategy to project an image relative to a store’s retailing category and its competition. Note: Many components go into the creation of a retail image such as: • store location • layout and design • physical facilities • operations (store hours, etc.) • merchandising • pricing • customer service • community service • promotional methods Note: “3-second rule”- - shopper should be able to determine the store’s name, line of business, price points, and personality quickly. (Similar for on-line) Components of a Store’s Image I. Atmosphere-the store’s physical characteristics that are sued to draw customer. A. Exterior--all the factors external to the store--controllable and non-controllable. Common components: 1. Storefront--the total visible exterior of the store. May include top, sides, even rear of building. Note: Prototype store--the use of basically uniform storefronts by chains and franchises...
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...FROM PPG TO VANCL:BUSINESS MODEL EVOLUTION OF ONLINE APPAREL RETAILING SYNOPSIS To most prestigious online apparel retailers in China PPG apparel and VANCL technologies were facing opposite situations .According to Deloitte technologies fast 500 Asia pacific 2009 ranking VANCL On 1st place with nearly 4 times that of the runner up. But 2 years earlier the situation was different. PPG wan the third place in the list of best business model in September 2007. PPG Li Liang, founder of PPG graduated from New York university return to china to develop its online apparel retailing. By June 2007, with daily average sale of 10000 shirts the company was close to the industry leader Youngor. The industry adopted vertical integrated value chain and manufacturing for more than 1500 retail stores through out the country. The company had 300 staff working for the call centre with no factory or retail store but with the powerful IT system that perform data stocking and transferring in more than 20 servers with this light asset model the entire value chain and company achieve subsequent growth for itself. They have targeted low end men apparel. The production standard from fabric to government was higher and therefore the risk for fabric suppliers producing in advance were lower, because the company contained complete value chain from cotton plating to government manufacturing. Although the Chinese customer was unfamiliar with the direct selling market. DISTRIBUTION CHANNEL PPG first store was...
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...The progression of Internet Purchasing, especially in clothes, is undeniable and worldwide popular. As a retailer of men’s suits, what have to consider about is not limited in hypostatic shop. According to the ONS, clothes are the most favoured goods for man, at 43% of internet users. There are an enormous potential in male online shopping market. Therefore, I would like to offer some proposals about starting on-line business on men’s suits. Initially, our website should keep interface concise and make goods display neatly. So complicated is the vision that customers will lack of desire to browse through. Comparatively speaking, the majority of men prefer doing shopping in an efficient way. In view of that, I strongly suggest that the suits category: style, colour, size and other custom services are arranged clearly and found easily. What is more, based upon the ONS, as many as 6 million new users get into Internet by mobile phone through the year of 2011. The growth reminds us that we can not only focus on the traditional terminal but also explore the new channels, like the APPS. Similarly, the promotion and advertisement can be brought into market via social networking such as Facebook, Twitter or Weibo. It is showed in ONS that men prefer the professional networking like LINKIN while that kind of society will be the key point for us. Still, online transactions, which include payment procedures, method of delivery, information security and return policy, play a big...
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...unprivileged class is set back by a lack of educational opportunities that could empower them to confidently pursue economic progress and overcome the debilitating effects of low literacy and rigid social hierarchies. The Indian rural retail opportunity is currently estimated to be in excess of Rs. 1400 billion (approximately US$34 billion). The figure is likely to touch Rs. 1800 billion (approximately US$ 43 billion) in 2010 and go up to Rs. 2400 billion (approximately US$ 58 billion) by 2015, according to CII - YES BANK Study on the Rural Retail Sector15. India’s rural markets are growing at double the rate of urban markets. The retail revolution is going to act as a catalyst. So, the new concept that is hitting the market today is the "Rural Retailing". KEYWORDS: Rural India, Rural retail, rural market, Retail revolution, Kirana stores. ______________________________________________________________________________ INTRODUCTION 1. THE RETAIL REVOLUTION In this land of 15 million retailers, most of them owning small mom and pop outlets, we also have a modern retail flourishing like never before. The rural revolution is driven by rising purchasing power, changing consumption patterns, increased access to...
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...felt nearly a decade after the first lot of entrepreneurs set up shop. A brief introduction and evolution shows how the organized retailing changed its gears over the period from Panwaladhukan to chain stores across the length and breadth of India. Further more, we highlight the various benefits that have accrued to the customers, retailers and the Indian economy as a result of the growth of the retail sector in India. Having learnt about the advantages of retailing in India, we next focus on the criticisms that have surfaced towards retailing activities in India. Retailing has grown and flourished in our country since its origin and hence we indulge in examining the causes behind such unprecedented growth. Owing to the fact that retail sector has seen tremendous growth in our country, the need to forecast the future of retailing in India is felt and hence we take a look into what the future holds for retailing in one of the most populated and largest economy of the world. INTRODUCTION AND EVOLUTION The word ‘Retailing’ refers to any activity that involves the direct sale to an individual customer or end user. Retailing has been the most active and attractive sector of the last decade. While the retailing industry itself has been present through out the history in our country, it is only the recent past that has witnessed so much dynamism. Retailing arena today is very different. It’s the latest bandwagon that has been witnessing hordes of players leaping onto it. While international...
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...Chapter 13 (Retailing and Wholesaling) Categorization of Products Wateen is the fastest growing internet service company in Pakistan. Wateen offers its products on the basis of consumer choice and consumer potential. Through its services and products, Wateen classifies its products into three categories: 1. Dial-up Connection 2. DSL Broadband 3. WIMAX “Wireless” Wateen’s Online Selling Model Wateen doesn’t sell its products either through retailer or wholesaler, yet it sells their products through web, telephone etc. Today the most consumers have shifted their trend towards online shopping. So it is convenient for the customers to just register their order through web, whether you want DSL or WIMAX. It is as simple as click. Wateen offers its services, “full services,” in which customers can get any information at any time regardless of any hidden charges. [pic] An example of Wateen franchise Way of Franchising Wateen also has several franchises at different places, where it behaves as independent businesspeople, to use better words. These franchises help customers in different ways, like problem in internet connection, POP-UP problem etc. Here, Wateen has adopted full-service retail organization. Evaluation: Wateen needs to update its operations in franchises. For instance, it doesn’t entertain credit cards. Here’s a story of a student who faced this problem: I am a student, and living away from my home town in...
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