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CHAPTER 1: RETAILING OVERVIEW :tada: - Coggle Diagram
CHAPTER 1: RETAILING OVERVIEW
:tada:
Retail Mix
1.PRODUCT
2.PERSONNEL
3.PROMOTION
4.PRESENTATION
5.PRICE
6.PLACE
Importance of Retailing
Provides wide product assortments
Bulk breaking
Stocking inventory
Value-added services
Green Retailing
Environmentally friendly retail practices
Benefits:
Business sustainability
Positive brand image
Social responsibility
Financial benefits
Consumer awareness growing, increasing demand for eco-friendly goods
Competitive advantage for retailers embracing sustainability
Retailing Definition
Business activity adding value to products/services for consumers
Ensures final transactions and product delivery
Includes retailers selling goods/services for personal use
E-Tailing (Electronic Retailing)
Online business-to-consumer (B2C) transactions
Non-store retailing (online sales)
Concept of Halalan Toyyiban
Halal: Permissible according to Islamic law
Halalan Toyyiban: Allowed and beneficial for health & well-being
Includes food and other daily life matters
Relationship Retailing
Beyond selling products, focuses on services & customer relationships
Aims to enhance shopping experience & customer satisfaction
Factors:
Customer base
Customer service & satisfaction
Loyalty programs
Defection rates
Entrepreneurship Opportunities in Retailing
Management Opportunities: Finance, HR, marketing, supply chain, etc.
Entrepreneurial Opportunities:
Retailing enables business start-ups
Entrepreneurs take risks and innovate in retail business