Introduction of Retailing
The word ‘retail is derived from the French word ‘retailer’, meaning cut a piece off or ‘to break bulk’. In simple terms, it implies a first-hand transition with the customer.
“Retailing is the sale of goods and services to the ultimate consumer for personal, family or household use.”
According to Kotler:
“Retailing includes all the activities involved in selling goods or services to the final consumers for personal, non business use”
Retailing can thus be defined as consisting of all such activities involved in the marketing of goods and services directly to the consumers for their personal, family or household use. Retailing involves a direct interface with the customer and the coordination of business activities from end to end, right from the concept or design stage of a product or offering, to its delivery and post delivery service to the customer.
Retailer: Retailer can be defined as a dealer or trader who sells goods in small quantities, or one who repeats or relates.
Manufactures: Manufactures business whose primary economic role is the production of goods.
Wholesaler: Wholesaler, which acts as market intermediaries between producers and end users of products and services.
Retail Market: Retail Market refers to a place where a group of consumers with similar needs and group of retailer meet using a similar retail format to satisfy those consumer needs.
Retail Marketing: Retail Marketing can be defined as the process by which a retailer tries to identify the target market in order to satisfy the target market's needs and build up a sustainable competitive advantage.