CHAPTER-1INTRODUCTION
Retailing consists of those business activities involved in the sale of goods and services toconsumers for their personal, family or household use. It is the final stage in a channel of distribution, which comprises all of the businesses and people involved in the physicalmovement and transfer of ownership of goods and services from producer to consumer.Retailing involves
Interpreting needs of the consumers
Developing good assortments of merchandise
Presenting them in an effective manner so that consumers find it easy andattractive to buy.Retailing differs from marketing in the sense that it refers to only those activities, whichare related to marketing goods and/or services to final consumers for personal, family or household use. Whereas marketing, according to American Marketing Association, refersto ‘the process of planning and executing the conception, pricing, promotion anddistribution of ideas, goods and services to create exchanges that satisfy individual andorganizational objectives.”Organizational buyers purchase in order to perform a task or sell a product effectively,efficiently and at a profit. They could be industrial buyers or intermediary buyers.Industrial buyers are those who purchase goods and services to be used in or to aidmanufacturing process. Intermediary buyers are those (i.e. wholesalers and retailers) who buy merchandise for resale. Retailers include street vendors, local supermarkets,department stores, restaurants, and hotels. Barbershops, airlines and even bike and car showrooms. Still retailing may or may not involve the use of a physical location. Mailand telephone orders, direct selling to consumers in their homes and offices and vendingmachines - all fall within the purview of retailing. In addition to it, retailing mayor may2
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