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    Chapter 11An Introduction to Retailing

    RETAIL

    MANAGEMENT:

    A STRATEGIC

    APPROACH,9th Edition

    ERMAN

    ERMAN

    EVANS

    EVANS

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    Chapter Objectives

    To define retailing, consider it from differentperspectives, demonstrate its impact, and noteits special characteristics

    To introduce the concept of strategic planningand apply it

    To show why the retailing concept is thefoundation of a successful business, with anemphasis on the total retail experience,customer service, and relationship retailing

    To indicate the focus and format of the text

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    !etailing

    Retailing encompasses the business

    activities involved in selling goods andservices to consumers for their

    personal, family, or household use. It

    includes every sale to the finalconsumer.

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    #ssues in !etailing

    How can we best serve our customers while

    earning a fair profit?

    How can we stand out in a highlycompetitive environment where consumers

    have too many choices?

    How can we grow our business, while

    retaining a core of loyal customers?

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    The %hilosophy

    Retailers can best address these

    questions by fully understanding and

    applying the basic principles ofretailing, as well as the elements in a

    well-structured, systematic, and

    focused retail strategy.

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    'igure 1(1 )oom Times for

    Costco

    http://www.costco.com/
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    'igure 1(2 Career %athways

    to +uccess

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    Career %athways to +uccess

    http://www.nrf.com/content/default.asp?folder=home&file=main.htm&bhcp=1
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    .n #deal Candidate for

    !etailing Career)e a people person

    )e flexible

    )e decisive/ave analytical s0ills

    /ave stamina

    http://www.prenhall.com/bermanevans/careers
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    Table 1(1 The 1 argest !etailers

    in the 3(+(, 21!an0 Company 4 +ales5million6 7 of stores 7 of employees1 Wal!art "1#,$1" %,%1% 1,&$&,'''

    " Home (epot )&,))& 1,&%$ ")*,&''

    & +roger )','#$ &,)&% "$$,'''% ears %1,'-$ ",#*' &1','''

    ) arget ,&*" 1,&$1 ""&,)''

    * Albertson/s &-,#&1 ",%'' ""','''

    - +mart &-,'"$ ",1)' "%',)")

    $ 0ostco &%,-#- &*# *%,)''

    # afeway &%,&'1 1,--& 1#&,'''

    1' .0. 2enney &",''% &,--' "-','''

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    'igure 1( The /igh Costs and

    ow %rofits of !etailing

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    'igure 1(" . Typical Channel of

    8istribution

    9anufacturer

    Wholesaler

    'inal

    Consumer

    Retailer

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    'igure 1($ The !etailer:s !ole in

    the +orting %rocess

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    9ulti-Channel !etailing

    A retailer sells to consumers through

    multiple retail formats

    Web sites

    2hysical stores

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    1-1$

    'igure 1(& ;(C( %enney and

    9ulti-Channel !etailing

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    !elationship 9anagement .mong

    !etailers and +uppliers3 8isagreements may occur