Understanding Retailing Full Assignment Solution (GC01216)

Table of Contents

Introduction.

P1 Describe the structure and organization of the retail sector

P2 Explain the process of distributing goods through different channels from the manufacturer to the customer

P3 Explain how focusing on the customer, by providing good customer service, is essential to retailing

P4 Identify the competitive factors in the retail environment a selected organization faces.

Conclusion.

References.

Introduction

I am a junior journalist in a local newspaper and be responsible for planning and conduct a featured article on local businesses. My paper discusses the framework of the retail industry, distribution procedure, the significance of the function of sales and service, and the way the industry gives a response to the alternation.

In the first section the structure, organization, formats, and locations in retailing are discussed. In the second section, the retail distributions have been explained. The third section discusses the customer service of the retailing. Lastly, in the fourth section, it is explained about the competition face the retailing business face in the market.

P1 Describe the structure and organization of the retail sector

Definition of retailing

As Bueno (2013) suggested, Retail is the sale of goods and services from businesses to an end-user (called a customer). According to Kotler (2009), retailing means all the activities involved in selling goods or services to the final consumes, for personal, non-business use. Any organization selling to final consumers whether it is a manufacturer, wholesaler, or retailer is doing retailer. Retailing involves selling products and services to consumers for their personal or family use. For example, Burdines and Macy’s, discount stores like Wal-Mart and K-Mart, and specialty stores like The Gap, Zales Jewelers, and Toys ‘R’ us, Service providers, like dentists, hotels and hair salons, and on-line stores, like Amazon.com, are also retailers.

Classification of types of store

Department Stores: departmental store are the store where a large number or product of wide variety is available for a broad range of the consumer. According to Malhotra (2014), the departmental stores comprises of many small retailing stores. Such as, Wal-Mart works with different retailing stores for a wider range of collections. Here due to the high collection of products millions of customers buy from the departmental stores.

Supermarkets: According to Malhotra (2014), supermarkets are the shops of self-service which offers a broad variety of food item and also household products. These are organized into the aisles. It is one type of larger traditional grocery store which has a wide variety of collection of food items. Supermarkets mainly contain meat, fresh vegetables, dairy and baked product organized in the aisle.

Specialist Outlets: according to Hawk (2018), Specialty stores are retail businesses that focus on specific product categories, such as office supplies, men’s or women’s clothing, or carpet. The type of the product does not determine the specialty of the store but the wide collection of the products and their offers determine the specialty of the store. The specialist outlets are considered as experts in one particular product.

Warehouse retailers: as Malhotra (2014) suggested warehouse retailers are the store that sells the wide variety of the product in deeper discounts that traditional stores. These stores offer a no-frills experience and warehouse shelving stocked well with merchandise intended to move at higher volumes. Examples of warehouse retailers are Kroger and Albertsons and the smaller warehouse retailers are Sacramento-based Nugget Market.

Catalog stores: Malhotra (2014) stated that Catalogue stores offers Catalogue to the purchaser who has not much time to walk around the big markets and are finding a convenient place where they will have to spend little time. These stores are available on the internet also. Example: Argos.

E-retailer: according to the recommendation of Malhotra (2014), E-retailers are the online store where customers can buy things online. They offer a wide range of products at a cheap price.

Convenience Retailer: Malhotra (2014) stated that these types of retailing stores are situated in the residential areas offering a limited range of prices at a convenient price.

Discount Retailer: here the products are offered at the discounted prices They offer low prices on less fashionable branded products from a range of suppliers by reselling end of the line and returned goods at discounted prices. (Malhotra, 2014)

Emerging store types

According to Business Dictionary New market structures arising from digitalization, deregulation, globalization, and open-standards that are shifting the balance of economic power from the sellers to the buyers. In such markets information is freely and widely available, and is almost instantly accessible. To compete in these scenarios, a firm must adopt new processes based on information technologies and must keep a close watch on the price, quality, and convenience trends…………….

Business Environment