Search results
Results from the WOW.Com Content Network
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. Retailers are the final link in the ...
The industry standard model for category management in retail is the 8-step process, or 8-step cycle developed by the Partnering Group. [10] The eight steps are shown in the adjacent diagram; they are : Define the category (i.e. what products are included/excluded). Define the role of the category within the retailer. Assess the current ...
A retail mix is devised for the purpose of coordinating day-to-day tactical decisions. The retail marketing mix typically consists of six broad decision layers including product decisions, place decisions, promotion, price, personnel and presentation (also known as physical evidence). The retail mix is loosely based on the marketing mix, but ...
Retailing in India is one of the pillars of its economy and accounts for about 10 percent of its GDP. [1][2] The Indian retail market is estimated to be worth $1.3 trillion as of 2022. [3][4] India is one of the fastest growing retail markets in the world, with 1.4 billion people. [5][6] As of 2003, India's retailing industry was essentially ...
An equally important component of the retail trade is the retail function that play crucial roles. These include research of products, implementation of storage, setting of pricing policy, arrangements of products and its selection for the creation of different merchandise assortments, exploration of the condition prevailing in the market. [10]
Distribution (or place) is one of the four elements of the marketing mix: the other three elements being product, pricing, and promotion. Decisions about distribution need to be taken in line with a company's overall strategic vision and mission. Developing a coherent distribution plan is a central component of strategic planning.
A retail merchant or retailer sells merchandise to end-users or consumers (including businesses), usually in small quantities. A shop-keeper is an example of a retail merchant. However, the term 'merchant' is often used in a variety of specialised contexts such as in merchant banker , merchant navy or merchant services .
A retail clerk obtains or receives merchandise, totals bills, accepts payment, takes orders, and makes change for customers in retail stores such as drugstores, candystores, or liquor stores (thus, the position may partially overlap with that of a cashier or teller). They clean shelves, counters, or tables; stock shelves or tables with ...