Retailing
What is retailing?
process of selling goods/services to consumers/people for a profit
True or False:
Home Depot is a category specialist store.
True
true
True or False:
All retailers sell at wholesale prices
False
What are discount stores?
Offers a broad variety of merchandise, limited service and low prices
Name 3 types of omnichannels.
1. Kiosks
2. Internet
3. Catalogues
Give an example of firms that sell services rather than products.
banks, hotels, airlines
Name one of the major food retailers.
1. Conventional supermarket
2. Big-box food Retailers
3. Convenience Store
What is risk reduction?
if there is any problem with the product, you will be confident that it'll be fixed and less perceived risk
What are the four factors for establishing a relationship with retailers?
1. choosing retail partners
2. identify types of retailers
3. facilitating retail strategy
4. managing a multichannel strategy
Name two characteristics of off-price retailers
1. Might not have the same product the next day
2. Random products with a low price.
Why do retailers use omnichannel strategies?
It allows them to create the same experience for all consumers within all their channels
What is the retailing mix?
2. place
3. promotion
4. price
5. presentation
6. personnel
Name all general merchandise retailers that we talked about.
1. Discount stores
2. Specialty stores
3. Category specialists
4. Department store
5. Drugstores
6. Off- price retailers
7. Extreme-value retailers
Difference of kiosk and catalogue.
Kiosks: Broader Selection, Access to Items Online rather than in Store, Access to Wish Lists/Gift Registries, Access to Loyalty Program Information
Catalogue: Convenience, Information, Safety