Subject: BA226 Retail Management

Section: BSBA 1A
Time: 11;00 a.m – 12:30 p.m
Group number: Group 5
Name: Morada, Jecamia S.

Give 20 Characteristics of Retailers (In your own view)

 A retailer serves as the final distribution intermediary and the connection between a supplier and the
final consumer.
 Retailers purchase products in bulk from wholesalers and then resell them to customers in smaller
quantities.
 A retailer keeps in touch with his customers personally.
 A retailer displays his goods in his shop effectively enough to draw customers.
 Retailers focus on advertising in addition to carrying out all the marketing tasks that a wholesaler does.
 Retailers, also referred to as general merchants, deal in a wide range of goods.
 Small-scale retailers and large-scale retailers are the two main categories into which retailers are
typically divided.
 Retailers strive to give their customers the most satisfaction possible in a small space.
 A retailer's goal is to maximize customer satisfaction by going above and beyond their expectations and
providing exceptional services.
 A retailer's relationship with the manufacturer is indirect because of wholesalers, but their relationship
with customers is direct.
 Localization is happening. They localize both their product offerings and their physical formats.
 They do not equate better service with hiring more personnel. When a retailer attempts to fool the
public into believing that service will enhance because it hired more salespeople, it is one of the biggest
fraud games in modern retail.
 In contrast to the past, they are investing significantly more wisely and selectively in stores than they
did in e-commerce.
 To give customers a seamless shopping experience, they are tightly incorporating their offline and
online channels.
 Social media is being used by them for direct sales. For instance, Facebook is developing into a potent
new sales channel for significant retailers.
 They are not restricted by psychic or geographical barriers.
 They provide customers with a fun in-store experience.
 They work with individuals who concur with what they're selling.
 They fulfill their promises, or hold themselves responsible if they don't.
 The customer and the retailer interact through services.
Give 20 Functions of Retailers (Then explain why)
 Arrangement - Retailers buy products from wholesalers and sell them in small quantities to customers
based on their wants and needs. As a result, they make arrangements for the final sale of goods to
consumers.
 Advertisement - Retailers are the best medium for promoting new products because they are in close
contact with customers and can affect their purchasing decisions.
 Close Contact - Since retailers have a close relationship with their customers, they are also familiar
with their needs, routines, tastes, and preferences. They keep a close eye on the sporadic changes that
occur in these variables.
 Relieve contact with consumers - Because retailers assume this responsibility and carry it out in a
lovely way, wholesalers don't need to bother getting in touch with customers.
  Credit Facility - Customers of the retailers have access to credit facilities. In actuality, customers and
merchants are quite close, and uterus and customers have a very intimate relationship.
 Relieve from botheration - Retailers take on this responsibility, so they free wholesalers from the
burden of local publicity in their region.
 Close to consumers - The fact that retailers are so close to their customers is a significant service
they provide. The consumers don't have far to travel to buy the necessities of daily life.
 Convenient - Retailers maintain a wide variety by buying various products from various manufacturers.
It makes it very simple for customers to decide what to buy.
 Home Delivery - Most retailers offer their customers the option of home delivery without charging
extra. The transportation of the goods is not the responsibility of the consumers.
 Sale on Approval Basis - Because retailers are so close to their customers, they allow them to use the
facility for approved purchases. Customers have the option to return goods within a set period of time if
they do not agree with them.
 Repair - Customers are guaranteed by the retailers to keep the items in good condition for a specific
amount of time.
 Fresh Goods - Retailers provide customers with fresh products. Customers want to buy fresh stock
when they want to buy bread, biscuits, milk, eggs, etc. Customers receive this facility from retailers in a
lovely way.
 Seasonal Goods - Retailers also cater to the needs of a specific season or occasion when providing
goods to their customers.
 Increase Knowledge - They explain to customers the functions and features of new products. They
make sure that their customers are informed about new developments and product changes. It
improves consumers' knowledge.
 Demand - They aid the producer in generating interest in new products. On the one hand, it raises the
standard of living in society and the purchases of these new products.
 Risk Management - A retailer must possess strong risk management abilities. A retailer must be well
prepared for the various risks that can arise from the retail industry, such as the loss or damage of
products due to a decline in quality.
 Strategies - A retailer's main job is to sell products to customers, and to do this, they use a variety of
strategies and business practices in order to accomplish their strategic objectives.
 Consumer Satisfaction - A retailer's main goal is to increase customer satisfaction by providing high-
quality goods and services on a cash-and-credit basis.
 Warehousing - The retailers handle the warehousing and storage tasks. They keep the products in
bulk and distribute them in accordance with customer demand.
 Cost effective - Finding the most cost-effective way to buy products from suppliers and passing the
savings along to customers is the obligation of a retailer.
Give 10 career options in retailing (Then Explain why)
 Small Business Owner - If you don't want to work for a company or a boss you can start your own
business. When the best strategy is used and put into practice, business owners become actively
involved and experience growth. There is no set educational requirement because it is entirely up to
you, but a degree in management, financial services, or a closely related field would be helpful.
 Product Developer - Following completion of retail management courses, this is yet another of the
best careers. Most product developers have degrees in retail management, industrial design, or a
related field. They collaborate with other experts to create industrial or business products.
 Retail Sales Associate - A retail sales associate's duties include helping customers choose the
appropriate product and stocking shelves. A degree is not necessary for this position. You can qualify
and hone the necessary skills by taking retail management certification training and courses or even
just getting your high school diploma.
 Marketing Executive - Marketing executives are responsible for overseeing a company's public
connections, marketing, and advertising strategies in order to achieve maximum profitability. They must
conduct market research to determine the potential demand for the company's services and products
before strategizing a marketing plan to satisfy that demand.
 Brand Manager - A brand manager's responsibility is to create appealing and successful marketing
campaigns that will enhance customer perception of the brand and boost sales.
  Warehouse Manager - A warehouse manager has many different responsibilities. They are in charge
of a variety of tasks related to the maintenance and receipt of equipment. The warehouse staff is under
the management of the warehouse manager, who collaborates with them to complete tasks. You will
manage people, processes, and systems as a warehouse manager to ensure that goods are received
and distributed properly and that productivity goals are met. This is a crucial component of the supply
chain process.
 Merchandiser - Compared to floor level jobs, the career path enables people to achieve a high ranking
position in the industry. Merchandisers are the experts in charge of managing advertisements as well
as other related elements for particular products in grocery stores. Additionally, they are responsible for
going from store to store to restock and remove items from the shelves. They keep everything tidy,
rearrange the tags on the shelves, and arrange new deliveries.
 Sales Manager - A job in sales is worth considering when you're searching for an adjustable workplace
environment, high earning potential, a way to challenge yourself, and a way to continuously develop
your abilities and enhance your professional capabilities. Sales managers work in retail and non-retail
environments. The duties of a sales manager include overseeing daily operations involving sales
associates and related activities. They seek to surpass or at the very least meet the anticipated sales
goals.
 Store Manager - Store managers give you incentives to boost sales and carefully watch over your
sales staff. They are rewards that you can somewhat influence by conducting sales, effectively
controlling inventory, and drawing in a devoted customer base. A retail store manager's responsibility is
to make sure that a department store's daily operations are conducted effectively and efficiently. One
more top-notch career in retail management is this one. Their duties also entail developing fresh,
improved concepts for enhancing sales, profits, store turnover, and other facets of store management.
 Retail Product Manager - If your background includes creativity, problem-solving, and curiosity,
product management may be the ideal career choice for you, and you'd be a perfect fit for a position
that allows you to practice, learn, and grow a lot. Retail product managers make sure that any product
being provided to the customer is successfully managed. It is a senior position in the retail management
industry. Retail product managers are in charge of overseeing a product's lifecycle.

In your own words, what is Retail Management?

 The process of managing and running retail outlets' daily operations involving the sale of goods and
services to customers is known as retail management. Creating a profitable operation for both your
business and the customer is a key component of retail management. Helping customers find items in
your store is another aspect of retail management. Everything from expanding your customer base to
how products are introduced and how you meet customer needs are included. A great store manager
assists customers in leaving the establishment grinning.
In your own words, what is Retail Marketing?
 The relationship for both manufacturers and consumers is referred to as retail marketing. Businesses
use this procedure to demonstrate to customers the worth of their goods and entice them to buy.
Increasing customer engagement and sales revenue can both be accomplished by having a solid
understanding of how to use retail marketing. Retail marketing includes all of the strategies used by
consumer businesses to draw clients and increase sales of their products and services. All of a
company's customer acquisition and sales strategies fall under the category of retail marketing.
In your own words, what is Retailing as Career
 Retail careers primarily involve assisting customers in making product purchases and resolving
product-related issues. Working in retail may be the ideal career choice for you if you value interaction
with others and possess strong interpersonal skills. Sales jobs in retail can provide competitive pay and
the chance to advance within the company. Retail frequently offers flexible work hours that enable you
to achieve a good work-life balance. At any skill level, the retail sector can provide an excellent
opportunity for career growth and advancement. You can gain strong communication and customer
service skills that are useful in any industry by pursuing careers in retail.