Chapter 16 Summary

A retailer is an intermediary engaged primarily in selling to ultimate consumers. Retailers create value for suppliers and consumers by having the goods available at convenient hours, meeting the needs and wants of the consumers, and providing an efficient method to make products available.

There are two major types of retailers, i.e., store retailers and nonstore retailers. Store retailers can be specialty stores,, mass merchandisers, or convenience stores. Nonstore retailers include vending machines, direct marketing, direct selling, direct-mail marketing, telemarketing, direct action advertising, on-line marketing, and integrated direct marketing.

Just as with other intermediaries, retailers must develop marketing strategies. These strategies revolve around the product, price, place, promotion, and store image. These strategies have been modified over time due to the changing environment they operate in. Some of these changes include the types of retailers emerging, technology development (information availability, shopping convenience, and targeted communications), and the globalization of business.