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. . DPR 073 F IZATULAMLA BINTI ABDUL HAMID PUO. DPR 40073.

. . Ready to start ?..... .

. . • SYNOPSIS • RETAIL BUYING focuses on the understanding of retail.

. . COURSE LEARNING OUTCOMES. (CLO). • Upon completing this course, Students should be able to :.

. . CONTINUOS ASSESSMENTS. • QUIZ 1 5%. • THEORY TEST 1 10%.

. . REFERENCES. • Richard Clodfelter (2018). Retail Buying from Basics to.

. . CHAPTER 1. BUYING IN RETAIL. ENVIRONMENT. 7. Uh» Vrn unclear about *'hat it is exactly you do. .v.

. . 1.1 EXPLAIN RETAIL ENVIRONMENT IN. WHICH BUYING OCCURS.

. . Introduction. • Retailing consists of all business activities.

. . • Buying involves :-. . Forecasting the wants & needs of consumers.

. . . • Developing A Consumer Orientation • Retailing has become consumer oriented. • Based on marketing concepts – all.

. . • Positioning a Retail Store • Positioning involves identifying a group of.

. . • Successful retailer attempt to serve a. market segment : a group of potential customers who have similar needs or other important characteristics..

. . • After identified characteristics of the. target market & divided into market segments – retailer will want to identify target market..

. . • What is Undifferentiated Target. Marketing ?.

. . • Multisegment Target Marketing ? • Retailers who focus on more than one.

. . • A market is a group of people with the _____.

. . ANSWER THIS QUESTION:. • There are FOUR (4) types of data used to.

. . . Emerging and growing. retail format where will.

. . Emerging retail formats. a. Direct Marketing.

. . a. Direct marketing Consists of direct connection with targeted individual customers To obtain immediate response and develop customer relationships. Direct marketers communicate on a one-to-one, interactive basis. • Direct marketing benefits customers in many ways.

. . b. Catalog Marketing • Catalog marketing is a sales technique.

. . c. Electronic marketing • Electronic marketing divide into three.

. . • TV Shopping Channels –. - such as Go shop, wow shop - assist customers make purchases,.

. . • Kiosks –touch-activated computer terminals.

. . The internet • A process that allows the customers to search, select.

. . •. Amazon, Walmart, Target, and eBay are the top retailers among U.S. shoppers..

. . d. Superstore retailing • Grocery stores expanded in size to include a.

. . • Warehouse Clubs • is a retail store, usually selling a wide variety.

. . • Specialized superstores • Offer one to three categories of merchandise.

. . Trends and challenges. Trends and challenges.

. . ➢a. The economy ➢b. The customer ➢c. The store ➢d. E-commerce ➢e. Information technology ➢f. Marketing and new media ➢g. Globalization.

. . ➢ a. The economy ❑Retailers must carefully monitor the.

. . • b. The customer • Nowadays, customers spend less time in the.

. . • c. The store • Destination stores • Retailers need to make sure their store.

. . • d. E-commerce • Sales over the internet have grown. • It is expected that online sales will continue to.

. . • e. Information technology • Technology can not only tell retailers what to sell, it.

. . • f. Marketing and new media • New media marketing centers on promoting.

. . • g. Globalization • Globalization is the word used to describe the.

. . UNDERSTANDING WHAT. UNDERSTANDING WHAT. . YOU READ.

. . The buying function in Retailing. • Most challenging functions of retailing is.

. . The buyer’s job. . THE RETAIL ENVIRONMENT WHERE BUYING OCCURS 42.

. . Buyer’s job. • Factors affecting Scope of the Buyer’s.

. . • 1) Merchandise Carried • The merchandise carried will determine the.

. . • 2) Organizational Structure • Type of organizational structure that.

. . • 3) Size of the Retail Organization • In small retail company, the buyer may be.

. . The Buyer’s Job: Duties & Responsibilities. ✓Develop merchandising strategies for a.

. . ✓Analyze & interpret reports ✓Make regular market trips ✓Represent the store in the market to vendors ✓Negotiate with the vendors for favorable.

. . . ✓Identify fast-selling and slow selling products ✓Maintain well balanced stocks and assortment ✓Control open-to-buy, stock level & deliveries to.

. . ✓Shop & analyze competitive stores in the. trading area to evaluate their merchandise assortments, prices & merchandise presentation..