ADMS 2200 Lecture Notes - Lecture 8: Ikea, Institute For Operations Research And The Management Sciences, Telemarketing

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Alexander Rusetski

Document Summary

Retailing: activities involved in selling merchandise to ultimate consumers. Retailers both large and small create time, place, and ownership utility. Retailers act as both customers and marketers in their channels. The general store first type of retail institution. Rise of supermarkets in the early 1930s, discount stores in the 1950s, convenience stores in the 1960s, and off-price retailers in the 1980s and. Wheel of retailing hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services. Retailing strategy: select a target market, develop a retailing mix to satisfy the chosen market. *like manufacturers and wholesalers, a retailer develops a marketing strategy based on the firm"s goals and strategic plans. The organization monitors environmental influences and assesses its own strengths and weaknesses in identifying marketing opportunities and constraints. Walmart draws customers away from traditional department stores with trendy but affordable lines of clothing.