Tutor: Jeffry Tutor: Jeffry UNIT 29 – UNDERSTANDING RETAILING P1 And M1 Turkan Sanci UNIT 29 – UNDERSTANDING RETAILING P1 And M1 Turkan Sanci 2015 2015 P1) Definition of retailing- Retailers provide goods directly to consumers at a profit. They are able to do so since the aspects of retailing – operating from an appropriate location, offering attractive products assortments, ensuring to a limit where the stock is available to meets its demand, before the goods ready to go out the supplier add value of the products bought from the companies and eventually sold to the customers. Retailers cut their bulk deliveries from suppliers so individual customers can buy the quantity they require – very often a single item. There
The primary customers of KR+H cabinetry are those who want to optimize the amount of useable space in their homes that stock cabinets cannot provide. The industry in 1992 was comprised of 61% stock cabinetry, and custom cabinets similar to those produced by KR+H comprised of only 20%. This is down from 26% in 1989 resultant from poor economic conditions between 1989 and 1992. KR+H uses a direct sale to consumer approach that only accounted for 2% of total industry sales. Industry sales by use of cabinet dealers and distributors contributed for 31% and 30% respectively.
If she spends twenty-one thousand in cash from her savings account to purchase a new car what she “could have” done with that money on an alternative solution is the opportunity cost. Likewise, if she is entering the employment market place, having a vehicle could enable her to secure a better job or role. If she does not purchase the vehicle she could lose out on an opportunity. Taking into account both the explicit (direct dollars spent on the car) and the implicit cost (what is given up) Stella should be able to itemize the opportunity and quantify the decision accurately. 2.
P1 – Describe the structure and organisation of the retail sector Organisation What is retailing? Retailers provide a service to customers at a profit. They are able to do so since the aspects of retailing – operating from an appropriate location, offering attractive product assortments, ensuring enough stock is available to meet demand – add value to the products bought from suppliers and eventually sold to customers. Retailers cut their bulk deliveries from suppliers so individual customers can buy the quantity they require – very often a single item. Different types of stores: Type of retailer | Example | Department Stores | John Lewis Partnership, Debenhams, House of Fraser | Multiple Chain | WHSmith, Mothercare, Boots the Chemist | Independents | Spar, Londis | Supermarkets | Sainsbury’s, Tescos, Morrisons | Specialist Outlets | PC World, Waterstones | Catalogue Stores | Argos | Membership Clubs | Matalan | Discount Stores | Superdrug, Currys | Internet Stores | Amazon | Internet Auction | eBay | Emerging Stores – Hybrid Stores A Hybrid Store is a shop which has another store usually a franchise within the store for example, in the UK and there is a Waterstones with a Costa Coffee within the shop.
The basic difference falls in the area of inventory. Traditional manufacturers produce finished goods, which are then placed in warehouses awaiting sale. In contrast, with a direct-sales, mass-customization firm, the receipt of a sales order triggers the manufacturing process as well as the purchasing system, the latter to acquire needed raw materials. Finished-goods and raw-material inventories (along with work in process) of mass-customizers are, therefore, much lower than the inventories carried by traditional
The automobile industry uses advertisements and different persuasive techniques to sell their vehicle. This advertisement I chose by Ford targets the viewer’s conscience and subconscious mind and at the same time makes, the person want to buy one of their vehicles, the 2011 Ford F-150. This ad also has some rhetorical elements. When discussing the rhetorical triangle of the ad, the subject is the Ford F-150 – “The New 2011 F-150”. The speaker is the artwork and the words on the advertisement.
4. (TCO 6) Discuss the role of intermediaries in B2B. Distinguish between buy-side and sell-side intermediaries. (Points : 35) The major role of intermediaries in B2B transactions is to make sure that buy-side and sell-side conditionals coincide. Buy-side transactions focus on one buyer purchasing goods/services from many different sellers.
Operations Decisions Bobby Roy ECO 550: Managerial Economics Dr. Peter Wui May 19, 2014 The Market Structure of the Low calorie Food Company From the regression results in the previous assignment, it clearly shows that the product inelastic. Considering the elasticities of the 26 companies, it clearly shows that the market structure is a monopolistic competition market. This implies that each company controls a small proportion of the market share. They have almost similar product, only slightly differentiated. The Leading Competitors in the Low-calorie Microwavable food Industry There are many low calorie microwavable food options available in the market today.
A ratio of 1.5 or greater is considered adequate to cover short term debts, and a ratio of less than one is a clear warning signal that a company may not be able to pay its short-term debts. The industry quick ratio standard is 0.84 so therefore, not only does WFM lead their competitors they are close to meeting the industry standard. Whole Food Market reliability is higher than its
Business sector of M&S M&S provide a service by selling already manufactured goods to their customers. Therefore they belong to the tertiary sector. This sector is the service sector. The reason that M&S is a tertiary sector organisation is because it is a business that buys items that have already been made and packaged to sell; they also make profit from this. M&S Business Purpose M&S have a main purpose of making profit by providing services and offer great quality groceries, clothes, and food, to consumers etc.