bus425 chapter1

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  • 1. Correction:
    • In the presentation from the first class session there was a typo on the Grading slide.
    • The correct proportion/amount of points for the Exams are:
    • Exams #1 and #2 are 100 points each for a total of 200 points
    • The Final Exam is worth 200 points.
    • This is consistent to what is shown on the syllabus.
    • Sorry if this caused any confusion.
  • 2. The World of Retailing
  • 3. Favorite Refact
    • Retailer Fred Lazarus, Jr. successfully proposed to the United States Congress that Thanksgiving be set on the fourth Thursday of November to expand the Christmas shopping season.
  • 4. 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.
    James Darell/Getty Images
  • 5. Retail Management Decision Process The World of Retailing
    • Intro
    • Types of Retailers
    3. Multichannel Retailing 4. Customer Buying Behavior
    • 9. Org. Structure and HR Mgmt.
    • Info Sys. & Supply Chain Mgmt
    • Customer Relationship Mgmt.
    Merchandise Management
    • Planning Merch. Assortments
    • Buying Systems
    • Buying Merchandise
    • Pricing
    • Retail Communications
    Retailing Strategy
    • Retail Marketing
    • Financial Strategy
    • Retail Locations
    • Site Location
    Store Management
    • Managing the Store
    • Store Layout, Design, & Visual Merchandise
    • Customer Service
  • 6. The Distribution Channel Consumer Retailer Wholesaler Manufacturer Point of Production Point of Sale (POS)
  • 7. The Distribution Channel: VERTICAL INTEGRATION Backward Integration Forward Integration Consumer Retailer Wholesaler Manufacturer
  • 8. How Retailers Add Value
    • Provide Assortment
    • Break Bulk
    • Hold Inventory
    • Offer Services
  • 9. Social and Economic Significance of Retailing
    • Economic support - over $3.4 trillion in annual U.S. sales (greater than medical care, housing, recreation combined)
    • Community Support - retail employs 27 million people in the U.S.
  • 10. Worlds Largest Retailers
  • 11. Hardest hit were clothing and high-fashion chains. Shares of J.C. Penney Co., Sears Holdings Corp., Target Corp. and Wal-Mart Stores Inc. all rose. Retailers Post Tepid Growth January 11, 2008 The results confirmed pre-holiday worries that falling home prices and high gasoline prices would crimp consumer spending. Retail Metrics Inc.'s index of December same-store sales rose a scant 0.4%, compared to a 3.2% gain the previous year. The weakness among clothing and jewelry was offset elsewhere by sales of food, health care and pharmaceuticals. Among major discount chains, Wal-Mart Stores said grocery, electronics and pharmacy businesses gained while home decor and apparel sales slipped.
  • 12. Worlds Largest Retailers
  • 13. Environmental Factors Macro- Environment Competitors Customers Micro- Environment Technology Social Issues Ethical/Legal Issues Political & Economic Issues Environmental Issues RETAILER
  • 14. Environmental Factors Competitors Customers Micro- Environment RETAILER
  • 15. Who is my competitor?
  • 16. Really??
  • 17. Who is my competition?
  • 18. Definitely.
  • 19. I thought they sold coffee...
  • 20. Who is our customer? HINT: They buy a lot of music, watch a lot of movies, drink a lot of coffee and have a lot of disposable income...
  • 21. Retail Strategy Decision Areas (Retail Mix) Customer Service Store Design & Display Location Communications Mix Merchandise Assortments Pricing Retail Strategy
  • 22. Retail Mix: Macys Customer Service Retail Strategy Store Design & Display Location Merchandise Assortments Pricing Enclosed Malls Many apparel items and soft home Moderate with frequent sales Communications Mix TV, Newspaper and Special Events Racetrack with displays Modest
  • 23. Retail Mix: Target Customer Service Retail Strategy Store Design & Display Location Merchandise Assortments Pricing Free-standing stores Many Categories Private Labels Few Items in each category Low to modest Communications Mix TV and Newspaper insert ads Colorful, wide aisles displays for products with a grid layout Limited
  • 24. Environmental Factors: Story of Stuff (on blog) Macro- Environment Competitors Customers Micro- Environment Technology Social Issues Ethical/Legal Issues Political Issues Environmental Issues RETAILER