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Retail Mgt Study Guide

 Essay about Retail Mgt Study Guidebook

Marketing: Retail Strategy Exam Study Information Spring 2013 Challenges facing retailers

•Consumers are bored with searching

oWe aren't buying just as much as we use to

•Over-saturation

are obligated to pay have lots of stores

•Price cutting battles & low profit margins

oCost containment

oGrocery stores make about you cent per dollar

•High customer service targets

What do suppliers do?

•Retailers satisfy customer needs by offering the right item at the proper price in the right place in the right time. Ways Retailers Add Value

•Breaking bulk

oBreaking bulks into numbers client wants

•Holding inventory

oHolds the remaining stock intended for next time

•Providing Assortment

•Offering Services

oSelf-checkout

oBeing able to shell out with charge or credit-based card

oWater fountains, etc .

Retail Technique (skip technique portion in chapter)

•An overall policy for guiding a retail organization

•Roadmap for what we're going to do and how we'll do it.

Key Shifts in Retailing

•Mergers, diversification, downsizing

•Growth of Multi-channel Selling or is it omni-channel? oCatalogues, film, mobile, internet, direct-selling.

•Bifurcated Selling

oLow course or prestige (no more middle class)

•Blurring of formats/ funnel blurring

o" we are playing in every other's sandboxes” grocery stores possess pharmacy, pharmacy's have food stores. oMuch harder to determine who our competition is.

What will it decide on succeed in 2013

•Thriftiness may be the new excessive

•Customers will be more prepared

•Less is more in design and shopping

•Generational divides in the labor force

•Staffing cuts

•Customers are being released in with blinders on

•Amazon

•Stalking clients through big data

•Products will find their way to customers in unconventional locations •There's just no time.

Progression of Retail

Entry phase (Innovation retailer) (Dollar General, Aldi)

•Low status, low cost, minimal support, poor facilities, limited offerings Trading-up stage (Traditional retailer) (Target)

•Elaborate facilities, prolonged product offerings, higher-rent locations Vulnerability Period (Mature retailer)

•Top heaviness, conservatism, weak ROI

Scrambled Merchandising – Shoe Retail outlet

•You can easily lower profit margin simply by bringing in top quality merchandise oSame vise passage

•Is very contagious

oMcdonalds adding healthy foods, then simply wendy's gives food

A retail file format is " the overall overall look and believe that a merchant presents to customers, generally its appear and structure, the sort of range this stocks and the approach taken to market. File format is unique from structures which, strictly speaking, refers only to exterior appearance. Fun with types – are really the single biggest opportunity not only to improve the searching experience, although also to determine a clear id for merchants and brands alike. Michael jordan Shinall also states that " 1 reason numerous traditional grocery stores struggle is that they are shedding entire kinds of their venture to additional stores” •What is the full term with this

oScrambled selling

oChannel blurring

•What can easily supermarkets, or other selling formats which can be facing this issue do? oBring in top end merchandise and lower income margin

Where is styleliner in product life pattern

•Introduction (because it is a fresh format)

Tesco entered the u. s i9000. in 3 years ago, setting up stores in California, Arizona and Nevada, many near new housing advancements. The stores highlighted: •10k square feet

•British style ready foods

Non-store retail types

•Social Press – Most compact because do not buy directly (but excellent redirecting people to websites) •Mobile

oWal-mart info fencing

•Electronic – Number two in terms of stations (growing extremely fast) oWhen we look in websites they are categorized in for ways First type is catalogers (Those retailers who began in catalogues) Second is usually retail organizations (those who began in packet & mortar. ...

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