MARK Chapter 14 Tuesday, October 29, 201912:34 PMSignificant of retailing-Retailing: activities directly related to the sales of goods and services-R= Big business-R industry… one of the largest employers-Provides millions of good and services to meet consumer demands-Dominated by small # of large companies Classifications of retail operations-Independent RetaileroEstablishment is owned by an individual or a group-Chain StoreoPart of a group of the same stores owned and operated by a single organization-FranchiseoRelationship in which business rights to operate and sell a product are granted by the franchisor to the franchiseeTypes of In-store Retailors Operations-Department stores-Specialty stores-Supermarket-Drugstores-Convenience stores-Restaurants -Discount storesNon- store retailing-Enables shopping without visiting a physical store locationoAutomatic vendingoDirect mailoOnline retailingThe retailing Mix-Product-Place-Personnel-Presentation-PriceR location-factors-Traffic flow-Buy/Rent costs-Regulations-Public transportation-Visibility-Fit with other storesPresentation/Atmospherics-Employee attire-Merchandise-Fixtures-Sounds, Odors, and Visual factors-Layout of the stores-Etc.-Design attracts shoppers-Ample parking-Signs- hours of operations-Props (why pay more?)-Ease of entry and exit - express checkoutRetailing Tips-Get consumers involved in retail experience-Rise of purchases through mobile devices-User friendly websiteEmerging technologies used by retailers-Big data analytics oProcess of discovering patterns in large data sets for the purpose of extracting knowledge and understanding human behavior-Beacon oSends out connecting signals to customers' smartphones and tablets in order to bring them into a retail store or improve their shopping experienceShopper marketing& shopper analytics-Understanding how target consumers behave