Retail Management Introduction to Retailing Mc GrawHillIrwin LevyWeitz

What is Retailing? • Retailing – includes all the activities involved in selling the

Examples of Retailers • Retailers: -Reliance Retail, KFC, Mc. Donalds, More, Subiksha, Spencers, Vishal.

How Retailers Add Value • Breaking Bulk -Buy it in quantities customers want •

How Retailers Add Value The value of the product and service increases as the

Manufacturer’s Perspective The Four P’s of Marketing Retailersare part of of the distribution channel

Distribution Channel PPT 1 -7 Consumer Behavior Ignacio J. Vázquez E. © 2007

Retailers are a Business Like Manufacturers Accounting Operations PPT 1 -8 Consumer Behavior Finance

Decision Variables for Retailers Customer Service Store Design and Display Retail Merchandise Assortment Strategy

Economic Significance of Retailing • Over 1 lak cr in sales • Employs 7%

Nature of Retail Industry is Changing To Today’s Retailer Mom and Pop Store PPT

Retailing is a High Tech Industry - Selling Merchandise over the Internet eg: ebay

Retail Environment Differs Across the Globe US INDIA Concentration High Medium Store Size Big

Hot Topic’s Retail Mix Customer Service Store Design And Display Location Merchandise Retail Strategy

Misconceptions About Careers in Retailing • Don’t need college education • Low pay •

Why You Should Consider Retailing • Entry level management positions -Department manager or Floor.

Types of Jobs in Retailing Most entry level jobs are in store management or

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Retail Management Introduction to Retailing Mc. Graw-Hill/Irwin Levy/Weitz: Retailing Management, 5/e Behavior PPT 1 -1 Consumer Ignacio J. Vázquez E. © 2007 Copyright © 2004 by The Mc. Graw-Hill Companies, Inc. All rights reserved.

What is Retailing? • Retailing – includes all the activities involved in selling the goods&services to the final consumer for personal, family, householduse or for nonbusiness purpose. • Retail – The word retail is derived from a french word retaillier which means to cut off a piece or to break bulk. PPT 1 -2 Consumer Behavior Ignacio J. Vázquez E. © 2007

Examples of Retailers • Retailers: -Reliance Retail, KFC, Mc. Donalds, More, Subiksha, Spencers, Vishal. Retail, Bigbazar etc • Firms that are retailers and wholesalers that sell to other business as well as consumers: -Metro, Office Depot(Stationery products). PPT 1 -3 Consumer Behavior Ignacio J. Vázquez E. © 2007

How Retailers Add Value • Breaking Bulk -Buy it in quantities customers want • Holding Inventory -Buy it at a convenient place when you want it • Providing Assortment -Buy other products at the same time • Offering Services -See it before you buy, get credit, discount etc. PPT 1 -4 Consumer Behavior Ignacio J. Vázquez E. © 2007

How Retailers Add Value The value of the product and service increases as the retailer performs functions. Doll can be bought on credit or cash. Doll is featured on floor display Doll is offered in convenient locations in Doll is developed in quantities of one several styles Doll is developed at manufacturer PPT 1 -5 Consumer Behavior Ignacio J. Vázquez E. © 2007

Manufacturer’s Perspective The Four P’s of Marketing Retailersare part of of the distribution channel distribution Product Price Distribution Promotion PPT 1 -6 Consumer Behavior Ignacio J. Vázquez E. © 2007

Decision Variables for Retailers Customer Service Store Design and Display Retail Merchandise Assortment Strategy Pricing Location Communication Mix PPT 1 -9 Consumer Behavior Ignacio J. Vázquez E. © 2007

Economic Significance of Retailing • Over 1 lak cr in sales • Employs 7% of population -about the same as manufacturing and growing. • Management training opportunities • Entrepreneurial opportunities PPT 1 -10 Consumer Behavior Ignacio J. Vázquez E. © 2007

Retailing is a High Tech Industry - Selling Merchandise over the Internet eg: ebay etc - Using Internet to manage supply chains - Analyze POS data to tailor assortments to stores - Computer systems for merchandise planning PPT 1 -12 Consumer Behavior Ignacio J. Vázquez E. © 2007

Misconceptions About Careers in Retailing • Don’t need college education • Low pay • Long hours • Boring • Dead-end job • No benefits • Everyone is part-time • Unstable environment PPT 1 -15 Consumer Behavior Ignacio J. Vázquez E. © 2007

Why You Should Consider Retailing • Entry level management positions -Department manager or Floor. Manager. -Manage and have P&L responsibility on your first job • Starting pay will be average with great benefits - Store Staff are hired from XII Class onwards. • No two days are alike. • Worklife is challenging everyday. • Management of people is a major role. PPT 1 -16 Consumer Behavior Ignacio J. Vázquez E. © 2007

Types of Jobs in Retailing Most entry level jobs are in store management or buying, but… retailers also have staff specialists: --accounting and finance --real estate/Landteam --human resource management --supply chain management --advertising/promotions --public affairs PPT 1 -17 Consumer Behavior Ignacio J. Vázquez E. © 2007