RMG 400 Lecture Notes - Lecture 10: Sub-Saharan Africa

• School: Ryerson University
• Department: Retail Management
• Course: RMG 400
• Professor: Janice Rudkowski

Document Summary

Week 10 chapter 13: locating sources in foreign markets. Unavailability of merchandise: some products are only available from foreign markets, such as cameras, handmade products that cannot be replicated in this country are imported. Quality: the finest linen in the world is from belgium and ireland, silks from china and cottons from india are world renowned, high quality cotton towels from turkey. Uniqueness: foreign markets are one source of unique merchandise, foreign markets often sell special, handmade items with distinctive styling. Fashion trends: europe is still a great influencer of fashion, making foreign purchases allows buyers the opportunity to offer their customers what is new and exciting. Import quotas: duties and tariffs, trade agreements with other countries, most-favourable nation status of trading partners. Landed cost is the final cost for foreign products: merchandise cost, duties and tariffs, commissions. Financing purchases from foreign sources: select method of payment, retailer may have to present a letter of credit to foreign suppliers.