- Management Basics
- Management Functions
- Organizational Behaviour
- Marketing
- People Management
- Personnel Management
- Human Resource Management
- Human Resource Development
- Compensation Management
- Job Analysis & Design
- Performance Management
- Rewards Management
- Competency Based Assessment
- Employee Development
- Training & Development
- Participative Management
- Employee Relationship Management
- Career Development
- Talent Management
- Human Capital Management
- Knowing Your Employees
- Relationship Building
- Employee Behaviour
- Workplace Efficiency
- Employee Engagement
- Employee Satisfaction
- Knowledge Management
- Employee Retention
- Social Entrepreneurship
- Youth Entrepreneurship
- Operations
- Supply Chain Management
- Inventory Management
- Enterprise Resource Planning - I
- Enterprise Resource Planning - II
- Business Process Management
- Globalization
- International Business
- Business Process Outsourcing
- Disaster Recovery Management
- Business Continuity Management
- Project Management
- Production & Operations Management
- Management Information System
- Database Management System
- Business Process Improvement
- Total Quality Management
- Six Sigma - Introduction
- Six Sigma - Define Phase
- Six Sigma - Measure Phase
- Six Sigma - Analyze Phase
- Six Sigma - Control Phase
- Six Sigma - Team
- Import & Export Management
- Finance
- Economics
Understanding Retail - What is Retail ?
What is Retail ?Retail involves the sale of goods from a single point (malls, markets, department stores etc) directly to the consumer in small quantities for his end use. In a layman’s language, retailing is nothing but transaction of goods between the seller and the end user as a single unit (piece) or in small quantities to satisfy the needs of the individual and for his direct consumption. Let us understand the concept with the help of an example. Tim wanted to purchase a mobile handset. He went to the nearby store and purchased one for himself. In the above case, Tim is the buyer who went to a fixed location (in this case the nearby store). He purchased a mobile handset (Quantity - One) to be used by him. An example of retail. The store from where Tim purchased the handset must have shown him several options for him to select one according to his budget and need. From where do you think the store owner (also called the retailer) purchased all the handsets? Here the manufacturers and the wholesalers come into the picture. The retailers purchase goods in bulk quantities (huge numbers) to be sold to the end-users either directly from the manufacturers or through a wholesaler. The Supply chain
|
Subscribe via Email
