RMG 200 Chapter Notes - Chapter 1: Customer Experience, Risk Management, Human Capital
10 Nov 2014
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Document Summary
Key to failure trying to please everyone. Retailing: set of business activities that adds value to the products and services sold to consumers for their personal/family use. Retailer: business that sells products and services to consumers for their personal or family use. Want to improve cust shopping experience, reduce costs and provide better value. Use internet to build brand images, provide cust service, manage their empls and get larger market share. Offering educational and entertaining experiences [free magazines] Satisfy cust needs by having the right merchandise, at the right price, at the right place, in the right quantities at the right time. Distribution channel: set of firms that facilitate the movement of products from the point of production to the point of sale to the ultimate consumer. [manu(make it) wholsler (store it in large qnty to satisfy rtler)- retailer (satisfies vust)- cust]. Vertical integration: firm performs more than one set of activities in the channed.
