|
Marketing Channel
A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user, the consumer; and is also known as a distribution channel. A marketing channel is a useful tool for management, and is crucial to creating an effective and well-planned marketing strategy. Another less known form of the marketing channel is the Dual Distribution channel. This channel is a less traditional form that allows the manufacturer or wholesaler to reach the end-user by using more than one distribution channel. The producer can simultaneously reach the consumer through a direct market, such as a website, or sell to another company or retailer that will reach the consumer through another channel, i.e., a store. An example of this type of channel would be franchising. Roles of marketing channel in marketing strategies * Links producers to buyers. * Influences ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production (economics)
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental production factors. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors as they are byproducts of land, labour and capital. Delving further, primary factor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clothes
Clothing (also known as clothes, apparel, and attire) are items worn on the human body, body. Typically, clothing is made of fabrics or textiles, but over time it has included garments made from animal skin and other thin sheets of materials and natural products found in the environment, put together. The wearing of clothing is mostly restricted to human beings and is a feature of all human societies. The amount and type of clothing worn depends on gender, body type, social factors, and geographic considerations. Garments cover the body, footwear covers the feet, gloves cover the hands, while hats and headgear cover the head. Eyewear and jewelry are not generally considered items of clothing, but play an important role in fashion and clothing as costume. Clothing serves many purposes: it can serve as protection from the elements, rough surfaces, sharp stones, rash-causing plants, insect bites, by providing a barrier between the skin and the environment. Clothing can insulate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perishable
Decomposition or rot is the process by which dead organic substances are broken down into simpler organic or inorganic matter such as carbon dioxide, water, simple sugars and mineral salts. The process is a part of the nutrient cycle and is essential for recycling the finite matter that occupies physical space in the biosphere. Bodies of living organisms begin to decompose shortly after death. Animals, such as worms, also help decompose the organic materials. Organisms that do this are known as decomposers or detritivores. Although no two organisms decompose in the same way, they all undergo the same sequential stages of decomposition. The science which studies decomposition is generally referred to as ''taphonomy'' from the Greek word ''taphos'', meaning tomb. Decomposition can also be a gradual process for organisms that have extended periods of dormancy. One can differentiate abiotic decomposition from biotic decomposition (biodegradation). The former means "the degradation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit Maximization
In economics, profit maximization is the short run or long run process by which a firm may determine the price, input and output levels that will lead to the highest possible total profit (or just profit in short). In neoclassical economics, which is currently the mainstream approach to microeconomics, the firm is assumed to be a "rational agent" (whether operating in a perfectly competitive market or otherwise) which wants to maximize its total profit, which is the difference between its total revenue and its total cost. Measuring the total cost and total revenue is often impractical, as the firms do not have the necessary reliable information to determine costs at all levels of production. Instead, they take a more practical approach by examining how small changes in production influence revenues and costs. When a firm produces an extra unit of product, the additional revenue gained from selling it is called the marginal revenue (\text), and the additional cost to produce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit Margin
Profit margin is a measure of profitability. It is calculated by finding the profit as a percentage of the revenue. \text = = There are 3 types of profit margins: gross profit margin, operating profit margin and net profit margin. * Gross Profit Margin is calculated as gross profit divided by net sales (percentage). Gross Profit is calculated by deducting the cost of goods sold (COGS) from the revenue, that is all the direct costs. This margin compares revenue to variable cost. It is calculated as: \text = \text - (\text + \text + \text) \text = \text - \text - \text \text = * Operating Profit Margin includes the cost of goods sold and is the earning before interest and taxes ( EBIT) known as operating income divided by revenue. It is calculated as: \text = * Net profit margin is net profit divided by revenue. Net profit is calculated as revenue minus all expenses from total sales. \text = Overview Profit margin is calculated with selling price (or revenue) taken as base t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulk Buying
Bulk purchasing or mass buying is the purchase of much larger quantities than the usual, for a unit price that is lower than the usual. Wholesaling is selling goods in large quantities at a low unit price to retail merchants. The wholesaler will accept a slightly lower sales price for each unit, if the retailer will agree to purchase a much greater quantity of units, so the wholesaler can maximize profit. A wholesaler usually represents a factory where goods are produced. The factory owners can use economy of scale to increase profit as the quantity sold increases. Retailing is buying goods in a wholesale market to sell them in small quantities at higher prices to consumers. Part of this profit is justified by logistics, the useful distribution function of the retailer, who delivers the goods to consumers and divides those large quantities of goods into many smaller units suitable for many transactions with many small parties of consumers. Retailers can also benefit from econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulk Purchasing
Bulk purchasing or mass buying is the purchase of much larger quantities than the usual, for a unit price that is lower than the usual. Wholesaling is selling goods in large quantities at a low unit price to retail merchants. The wholesaler will accept a slightly lower sales price for each unit, if the retailer will agree to purchase a much greater quantity of units, so the wholesaler can maximize profit. A wholesaler usually represents a factory where goods are produced. The factory owners can use economy of scale to increase profit as the quantity sold increases. Retailing is buying goods in a wholesale market to sell them in small quantities at higher prices to consumers. Part of this profit is justified by logistics, the useful distribution function of the retailer, who delivers the goods to consumers and divides those large quantities of goods into many smaller units suitable for many transactions with many small parties of consumers. Retailers can also benefit from eco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wholesalers
Wholesaling or distributing is the sale of goods or merchandise to retailers; to industrial, commercial, institutional or other professional business users; or to other wholesalers (wholesale businesses) and related subordinated services. In general, it is the sale of goods in bulk to anyone, either a person or an organization, other than the end consumer of that merchandise. Wholesaling is buying goods in bulk quantity, usually directly from the manufacture or source, at a discounted rate. The retailer then sells the goods to the end consumer at a higher price making a profit. According to the United Nations Statistics Division, ''wholesale'' is the resale of new and used goods to retailers, to industrial, commercial, institutional or professional users, or to other wholesalers, or involves acting as an agent or broker in buying merchandise for, or selling merchandise to, such persons or companies. Wholesalers frequently physically assemble, sort, and grade goods in large l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Costco Empty Shelves March 2, 2020
Costco Wholesale Corporation (doing business as Costco Wholesale and also known simply as Costco) is an American multinational corporation which operates a chain of membership-only big-box retail stores (warehouse club). As of 2022, Costco is the fifth largest retailer in the world and is the world's largest retailer of choice and prime beef, organic foods, rotisserie chicken, and wine . In 2021, Costco was ranked #10 on the Fortune 500 rankings of the largest United States corporations by total revenue. Costco's worldwide headquarters are in Issaquah, Washington, an eastern suburb of Seattle, although its Kirkland Signature house label bears the name of its former location in Kirkland. The company opened its first ''warehouse'' (the chain's term for its retail outlets) in Seattle Through mergers, however, Costco's corporate history dates back to 1976, when its former competitor Price Club was founded in San Diego, California. , Costco has 842 warehouses worldwide: 579 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Loyalty
In marketing, brand loyalty describes a consumer's positive feelings towards a brand, and their dedication to purchasing the brand's products and/or services repeatedly, regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit with its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said to use the loyalty business model. Marketing Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or continue to use the brand. Consumers can demonstrate brand loyalty by repeatedly buying a product, service, or by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toys
A toy or plaything is an object that is used primarily to provide entertainment. Simple examples include toy blocks, board games, and dolls. Toys are often designed for use by children, although many are designed specifically for adults and pets. Toys can provide utilitarian benefits, including physical exercise, cultural awareness, or academic education. Additionally, utilitarian objects, especially those which are no longer needed for their original purpose, can be used as toys. Examples include children building a fort with empty cereal boxes and tissue paper spools, or a toddler playing with a broken TV remote control. The term "toy" can also be used to refer to utilitarian objects purchased for enjoyment rather than need, or for expensive necessities for which a large fraction of the cost represents its ability to provide enjoyment to the owner, such as luxury cars, high-end motorcycles, gaming computers, and flagship smartphones. Playing with toys can be an enjoyable way o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.JPG "Click for more on -> Toys")