Mar 3023 Chapter Notes - Chapter 11: Breakcore, Direct Selling, Complementary Good
Document Summary
Includes the sale of items ranging from luxury automobiles to apparel to movie tickets. Often takes place in physical stores or service location. Also includes online shopping or vending machines: wholesalers- provide goods and services to other businesses as well as to consumers, retail (cid:396)e(cid:373)ai(cid:374)s a (cid:862)(cid:373)o(cid:373)-and-pop(cid:863) t(cid:455)pe (cid:271)usi(cid:374)ess. Global retailing, e-commerce, and the ever-changing face of retailing. Increasingly global and dynamic: technology has made online retail grow, wheel of retailing- best-known framework for explaining changes in retail institutions; suggests that new types of retailers typically enter the market as low-margin, low- priced, low-prestige merchants. Enter a trading-up phase where they provide new services and improve their facilities. Competition leads them to add more services and improvements. Now have high costs & are vulnerable to competition from new, low-cost, no-frills retail entries. What makes retail marketing different: three factors differentiate retail marketing: The average dollar amount of a single sales transaction.
