MKTG 340 Chapter Notes - Chapter 1: Layaway, Vertical Integration, Corporate Social Responsibility
Document Summary
Learning objectives: identify retailing activities, realize the importance of retailing in the u. s. and world economies, analyze the changing retail industry, recognize the opportunities for you in retailing, understand the strategic retail management decision process. Retailing is the set of business activities that adds value to products and services sold to consumers for their personal or family use: not all retailing is done in stores. A retailer is a business that sells products and/ or services to consumers for their personal or family use: key component in supply chain as their link manufacturers to consumers. A supply chain is a set of firms that make and deliver goods and services to consumers: manufacturer wholesaler retailer consumer. Costs of channel activities: while the value-creating activities undertaken by channel members provide benefits to customers, they also increase the cost of products and services. Wholesalers are firms that buy products from manufacturers and resell them to retailers.
