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Chapter 1

Chapter 1. RETAIL MANAGEMENT: A STRATEGIC APPROACH 11th Edition BERMAN EVANS. An Introduction to Retailing. Chapter Objectives. To define retailing, consider it from different perspectives, demonstrate its impact, and note its special characteristics

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Chapter 1

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  1. Chapter 1 RETAIL MANAGEMENT: A STRATEGIC APPROACH 11th Edition BERMAN EVANS An Introduction to Retailing Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  2. Chapter Objectives Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall • To define retailing, consider it from different perspectives, demonstrate its impact, and note its special characteristics • To introduce the concept of strategic planning and apply it • To show why the retailing concept is the foundation of a successful business, with an emphasis on the total retail experience, customer service, and relationship retailing • To indicate the focus and format of the text

  3. Retailing Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Retailing encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer.

  4. Retailing – Marketing Relationship 4Ps of Marketing Value to the consumer Ownership/ Possession Form Information Location Time Supply Chain Management Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  5. Figure 1-4: A Typical Channel of Distribution Retailer Manufacturer Wholesaler Final Consumer Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  6. Figure 1-5: The Retailer’s Role in the Sorting Process Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  7. Customer Service Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall • Activities undertaken by a retailer in conjunction with the basic goods and services it sells. This includes: • Store hours • Parking • Shopper-friendliness • Credit acceptance • Salespeople

  8. Figure 1-12: A Customer Respect Checklist Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Do we trust our customers? Do we stand behind what we sell? Is keeping commitments to customers important to our company? Do we value customer time? Do we communicate with customers respectfully? Do we treat all customers with respect? Do we thank customers for their business? Do we respect employees?

  9. Relationship Management Among Retailers and Suppliers Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall • Disagreements may occur in the following areas: • control over channel • profit allocation • number of competing retailers • product displays • promotional support • payment terms • operating flexibility

  10. Distribution Types Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Exclusive: suppliers make agreements with one or few retailers, designating such retailers as the only ones to carry certain brands or products within a specified geographic area Intensive: suppliers sell through as many retailers as possible Selective: suppliers sell through a moderate number of retailers

  11. Figure 1-7: Comparing Distribution Types Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  12. The Service Businesses Differences between services and goods Intangibility Perishability Inseparability Variability (Heterogeneity) 7 Ps of Services Marketing 4Ps + People Process Physical Evidence Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  13. Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  14. The 10 Largest Retailers in the US Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  15. The 10 Largest Retailers in the World Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  16. The Largest Retailers in Turkey Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  17. Turkish Retailing Sector Cushman&Wakefield: 7th in Europe, 10th in the world per size In 2006 Sales: 137 billion USD Employment 2,5 million Sales points 190.000 # of Shopping Centers => 200 (was 3 in 80’s) Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  18. Careers in Retailing Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  19. An Ideal Candidate for a Retailing Career • Must be a people person • Must be flexible • Should be decisive • Must have analytical skills • Must have stamina Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  20. Issues in Retailing • How can we best serve our customers while earning a fair profit? • How can we stand out in a highly competitive environment where consumers have so many choices? • How can we grow our business while retaining a core of loyal customers? Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

  21. The Philosophy Retailers can best address these questions by fully understanding and applying the basic principles of retailing, as well as the elements in a well-structured, systematic, and focused retail strategy. Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall

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