RETAIL MANAGEMENT

• Effective inventory management ensures adequate stock levels to meet customer demand while minimizing inventory holding costs.
• Department stores are large retailers that carry wide breadth and depth of products. They offer more customer service than their general merchandise competitors. Department stores means the each department is allocated the sales space, manager and sales personnel that they pay an attention to the department. IMC programme for each department is different and particular. Department store utilizes various sources for marketing communication.
• Convenience stores are located in areas that are easily accessible to customers. Convenience store carry limited assortment of products and are housed in small facilities.
• Convenience stores The strategy of convenience stores employ is fast shopping, consumer can go into a convenience stores pick out what they want, and check out relatively short time. Due to the high sales, convenience volume purchase
• Full line Discount Stores

  It conveys the image of a high volume, low cost, fast turnover outlet selling a broad merchandise assortment for less than conventional prices
• Specialty store carry a limited number of product within one or few lines of goods and services. They are named because they specialize in one type of product. Such as apparel and complementary merchandise.
• Specialty store utilizes a market segmentation strategy rather than typical mass marketing strategy when trying to attract customers
• Off price retailers resemble discount retailers in that they sell brand name merchandise at everyday low prices.
• Off price retailers sell brand name merchandise at everyday low prices
• They resemble discount retailers
• Off price retailers do not offer many services to customers
• The key strategy of off price retailers is to carry the same type of merchandise as traditional department stores but offer prices that can be 40 to 60 percent lower
• To offer low prices, off price retailers develop special relationships with their suppliers for large quantities of merchandise
• Inventory turnover is a key factor in the success of off price retailing businesses
• Off price retailers purchase closeouts and cancel orders
• off price retailers develop special relationship with their suppliers for large quantity of merchandise. Inventory turnover is the key factor of successful off price retailing business.
• Flea market is a literal transaction of the French aux puces, in outdoor bazaars in Paris. A flea market is the outdoor or indoor facility that rent out space to vendors who offer merchandise, services and other goods that satisfy the legitimate needs of customers. 
• Flea market - provides opportunity for entrepreneur to start business at low price. 
• flea market - consist of many retail vendors offering a variety of products at discount price at places where there is high concentration of people. On specific market days they assemble for exchange of goods andservices.
• Factory outlets are manufacturer owned stores selling manufacturers closeouts, discontinued merchandise, irregulars, cancelled orders, and sometimes in seasons, first quality merchandise. 
• membership club appeals to price conscious consumers, who must be a member of shop there. It breaks the line between wholesale ling and retailing. 
• Variety store offer deep assortment of inexpensive and popular goods like stationary, gift items, women‘s accessories, house wares etc.They are also called 5 to 10 percent store because the merchandise in such stores, used to cost much.
• Conventional supermarket is essentially large departmental stores that specialize in food. These stores generallycarry groceries, meat and produce products. A conventional food store carries very little general merchandise.
• Food Based Superstore - One of the biggest trends over the past twenty years in food retailing has been the development of superstore. Superstores are food based retaliates that are larger than the traditional supermarket and carry expanded service daily, bakery, seafood and non food sections. 
• Combination Store - shoppers have been demanding more convenience in their shopping experience, a new type of food retailers has been emerging.
• Warehouse clubs rely on fast moving, high turnover merchandise.
• Warehouse clubs and stores were developed to satisfy customers who want to low prices every day and are willing to give up services needs
• The stores are very large and are located in the lower rent areas of cities to keep their overhead low cost low
• Limited line stores - rarely carry any refrigerated items and are often cash and carry, accepting no checks or purchase bags from the retailers. In limited line store, the strategy is to price products at least 20 percent below similar products at conventional supermarkets.
• Direct marketing is defined as an interactive system of marketing, which uses non personal media of communication to make a sale at any location or to secure measurable response.
• Direct marketing - is a method wherein the manufacturer or producer sells directly to retailer, user or ultimate consumers without intervening intermediaries.
•  Various forms ofDirect Marketing-telemarketing, Direct mail marketing, television, marketing
• Direct Selling.In contrast to direct marketing, which involves no personal contact with consumers, direct selling entails some type of personal contact. This contact can be at the consumer home or at an out of home location such as the consumer office.
• Vending machines represents an additional class of retail institutions. Essentially, vending is non store retailing in which the consumer purchase a product through a machine
• Mail Orders marketing/Catalog Marketing, also called as mail order business, is one of the established methods of direct marketing. 
• Franchise in French means privilege or freedom. Franchising refers to the methods of practicing and using another person‘s philosophy of business. The franchisor grants the independent operators the right to distribute its products, techniques and trademarks for a percentage of gross monthly sales and royalty fee. 
• Franchise - Various tangibles and intangibles such as national or international advertising, training and other support services are commonly made available by the franchisor.