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Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers , directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit .
The retail marketing mix typically consists of six broad decision layers ... Price lining is the use of a limited number of prices for all products offered by a business.
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.
Outlet stores enabled manufacturers to directly enter the retail field themselves and capture more of the profit associated with their brand names. [3] Very few outlet centers were built within major cities, in order to minimize disruption to manufacturers' existing relationships with department stores and other chain stores which had ...
A chain store or retail chain is a retail outlet in which several locations share a brand, central management and standardized business practices. They have come to dominate many retail markets, dining markets, and service categories in many parts of the world. A franchise retail establishment is one form
The category of business (NAICS code 4551) "Grocery stores" is defined as "primarily engaged in retailing a general line of food products", [2] and the subcategory (NAICS code 455110), "Supermarkets and Other Grocery (except Convenience) Stores" is defined as "establishments generally known as supermarkets and grocery stores, primarily engaged ...
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products. These groups are known as product categories (examples of grocery categories might be: tinned fish, washing detergent, toothpastes).
All assets of the business belong to a sole proprietor, including, for example, a computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor. [7] A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited ...