Introduction to Retail Marketing Mr. Munaco

What is retailing Lecture #1

Before you can go further… Market: Any system or place where parties are engaged in exchange of either goods or services Goods or services in exchange of money Goods: Tangible physical products transferred from seller to buy Can be seen and touched

What is retail? Retailing involves the following: Sale of goods directly to consumer Broken down in smaller quantities For end use (no resale)

What is marketing

The creation and maintenance of satisfying exchange relationships What is Marketing? The creation and maintenance of satisfying exchange relationships

Why study Marketing? Influences ALL business operations All around out $500 Billion spent in advertising every year 50% of budget spent on marketing activities All around out Advertisements Deciding on a purchase (consumer) Cash or credit Most visible aspect of business

Marketing functions Major Functions Market Planning Product and Service Management Distribution Pricing Promotion Selling Marketing-Information Management Financing Risk Management

How companies use the functions of marketing… Example 1: Apple used __________ by combining the technologies used in the iPod, iPhone, and MacBook to produce the iPad. Example 2: Redbox redefined the movie rental business through an innovative ______ strategy. They locate their easy-to-use bright red kiosks on convenient neighborhood locations. Example 3: The use of electronic scanners at the supermarket checkouts provide information about inventory levels and purchases so managers can make decisions about how much and when to reorder.

Supply Chain Lecture #2

Supply chain Manufacturer Wholesaler Retailer Involved in production of goods with help of machines, labor, and raw materials. Wholesaler Purchases goods from manufactures and sells to retailers in lower numbers at a lower price Retailer Sells the products in small quantities to satisfy needs and demands

Supply Chain Manufacturer Wholesaler Retailer Shopping