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shai's -Retail management-Unit 1

shai's -Retail management-Unit 1

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Published by Shahid kv

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Published by: Shahid kv on Jul 28, 2009
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05/11/2014

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MODULE-1
RETAILER-CHARACTERISTICS
Retailer
 
is a person who specializes in selling certain types of goods and/or services to consumersfor their personal use
Connecting link between wholesalers and consumers
A merchant middleman
Sells directly to consumers
Deals in small quantity
Deals in variety of goods
FUNCTIONS OF RETAILER 
Collection and assembling of variety of goods
Undertakes risk 
Give credit facility to customers
Collect market information
Undertake promotion
Attracts consumers
Gives guidance to consumers
Buyers need not hold stock 
Convenience
Creates time, place and possession utility
RETAILING-Retailing includes all activities involved in selling goods or services to the finalconsumers for their personal, non-business use- Kotler“The set of activities that markets products or services to
 final consumers
for their own personalor household use. It does this by organizing their availability on a relatively large scale andsupplying them to consumers on a
relatively small scale” 
The word ‘Retail’ is derived from the French word with the prefix ‘Re’& the verb ‘tailer’meaning to cut again.
Retailing includes all the activities involved in selling services directly to final consumers for  personal, non-business use.
A retailer or retail store is any business enterprise whose sales volume comes primarily fromretailing.
NATURE OF RETAILING
It is that part of marketing which creates time, place and possession utility
A legal activity, social activity and economic activity
A system and goal oriented activity
It includes services also
Buy products from distant places
Sell to many different consumers1
 
SCOPE OF RETAILING
All activities involved in the sale of goods or services to final consumer 
It includes
Predominantly food stores(non-specialized and specialized)
Predominantly non-food stores( non specialized non-food stores, textiles and leather ,householditems, some other etc)
Other types(mail order, door-to-door, vending machine, repairing, multi level marketing )
RETAIL MANAGEMENT
Managerial functions of planning, implementing and controlling retail programs to achieve predetermined objectives.
 Scope
Strategic planningOrganizingStaffingImplementingControlling
THE EVOLUTION OF RETAIL FORMATS
The origins of retail are as old as trade itself.
The peddler who provided people with basic goods & necessities was one of the earliest forms of retail trade.
In 17th Century existed a Flea Market- a place where vendors came to sell their goods in theSuburbs of Paris.
The Greek cities are witness to “the Agora” or the market which existed then to serve the needsof the local populace
SOCIAL DEVELOPMENTS & ITS EFFECT
Two important developments of the 18th Century-: the provision of Railroads & Telegraphs. Wholesale business developed
In1852 the first departmental store: Bon Marche was set up in Paris with Money back guaranteeon purchases.
Montgomery ward launched the world’s first mail order catalogues.
The Industrial Revolution.
Self-Service Retail stores started in 1916.
The development of Super-Markets & Convenience Markets.
Specialty Stores, Malls & other formats.
The rise of the Web2
 
SERVICES TO CONSUMERS:
The retailer stocks different varieties of goods.
The retailer sells goods in small quantities to the consumers as & when they require.
Consumer’s can choose from a variety of goods displayed in his shop.
He supplies information to the consumer about the arrival of new products.
The retailer is an expert & specialist in the distribution of consumer goods.
The retailer sells goods to regular customers on credit.
The retailer renders after sales- services & arranges for home-delivery.
He generally establishes his shop near the customers.
SERVICES TO MANUFACTURERS/WHOLESALERS:
The retailer looks after the entire process of distribution, which enables manufacturers to concentrateon production.
By advertising & displaying goods, the retailer creates demand for the product.
As the retailer is in close touch with customers, he collects the necessary market information &supplies the same to manufacturer through wholesaler.
He finds customers for the new products introduced in the market.
CLASSIFICATION OF RETAILERS
Retailers range from small, independent, owner-operated etc…
The basic classification done is based on Store based, Non-store based & Services retailing.
The Store based is classified further on the basis of form of Ownership &Merchandise offered.
Classification of Retail Formats
Store based RetailingNon-Store RetailingServicesRetailing
Form of Ownership
Independent retailer Chain retailer FranchiseLeased DepartmentsConsumer co-operatives
Merchandise offered
Convenience storesSupermarketsHypermarketsSpecialty storesDepartmental storesOff price retailersFactory outletsCatalogue showroomsDirect sellingMail order Tele marketingAutomatedVendingBanksCar RentalsProviders of various services
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