RMG 400 Lecture Notes - Lecture 1: Direct Marketing, Online Marketplace, E-Commerce

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

Document Summary

All business activities involved in selling goods and services to the ultimate consumer. Forecasting the wants and needs of consumers. Planning merchandise assortments to satisfy consumer wants and needs. Selecting vendors from whom to purchase merchandise. A distinct group of products that customers perceive as related, or substitutable. It"s a collaboration between vendors and retailers to provide optimal service to the customer while providing profit and sales to the retailer and vendors. Category management is needed in today"s marketplace because retailers want to offer their consumers quality, value and convenience. Mission: provide thought leadership, industry benchmarks and best practices, relevant certification/continuing education/collegiate curriculum, facilitate collaboration and networking opportunities and create robust and rewarding career paths and professional development. Imagine a store that offers the lowest price to shoppers everyday. It minimizes its use of advertising and discounts. Rather, it prefers to offer its shoppers price simplicity.