Introduction to Retail Marketing

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Mr. Munaco

Lecture #1

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

Retailing involves the following:

Sale of goods directly to consumer

Broken down in smaller quantities

For end use (no resale)

The creation and maintenance of satisfying exchange relationships

Influences ALL business operations

$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

Major Functions

Market Planning

Product and Service Management

Distribution

Pricing

Promotion

Selling

Marketing-Information Management

Financing

Risk Management

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.

Lecture #2

Manufacturer

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

Manufacturer Wholesaler Retailer Shopping

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