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Presentation transcript:

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

PPT 1-2 Consumer Behavior Ignacio J. Vázquez E. © 2007 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. What is Retailing?

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

PPT 1-4 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 1-5 Consumer Behavior Ignacio J. Vázquez E. © 2007 Doll can be bought on credit or cash. Doll is featured on floor display Doll is offered in convenient locations in quantities of one Doll is developed in several styles How Retailers Add Value Doll is developed at manufacturer The value of the product and service increases as the retailer performs functions.

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

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

PPT 1-8 Consumer Behavior Ignacio J. Vázquez E. © 2007 Accounting Finance MIS Operations Marketing Human Resources Retailers are a Business Like Manufacturers

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

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

PPT 1-11 Consumer Behavior Ignacio J. Vázquez E. © 2007 Nature of Retail Industry is Changing Mom and Pop Store To Today’s Retailer

PPT 1-12 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 1-13 Consumer Behavior Ignacio J. Vázquez E. © 2007 Retail Environment Differs Across the Globe USINDIA Concentration High Medium Store Size Big Small Role of Low Low Wholesaling Efficiency High Low

PPT 1-14 Consumer Behavior Ignacio J. Vázquez E. © 2007 Hot Topic’s Retail Mix Retail Strategy Customer ServiceLocation Merchandise Assortment Pricing Communication Mix Store Design And Display

PPT 1-15 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 1-16 Consumer Behavior Ignacio J. Vázquez E. © 2007 Why You Should Consider Retailing Entry level management positions -Department manager or FloorManager. -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 1-17 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