0
A Retail Buying Cycle is the process that a Retail Organisaion goes through from first establishing a consumers needs up until being able to supply that catogory of consumers with the products they desire.
The need in the market needs to first be determined. For Exmaple, if there is a need for ice-cream, that needs to be established. Then the buyer needs to determine what types of ice-cream would best suite their target customer and then the process of getting the ice-cream to the store and sold to the Customers then starts.
So the steps of the Retail Buying Cycle are as follows:
1. Consumer Needs
2. Store awareness of need
3. Sales Team
4. Store Manager awareness of need
5. Buying Department awareness of need and there starts the process to meet the need
6. Sourcing Department
7. Supplier
8. Distribution to stores
9. Product in stores
10. Receiving of goods in stores
11. Stock Clerk monitors movement of stock
12. Creditors Department makes payment to supplier
13. Stores sell stock
14. Customer purchases stock
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is retail selling and retail buying?
This is the buying of merchandise (wholesale) and resell (Retail).
How does the law of demand apply to buying goods at a retail store and at a wholesale store?
Discuss the law of demand and apply to buying goods at a retail store and at a wholesale store.
What is the cycle followed by the housing market?
The cycle is a way people use before buying a home or renting one.the cycle is something that people are use to using to help them out in buying or renting.
How much ash wood cost per foot?
The answer will depend on:where in the world you are buying,how much you are buying - retail or large quantities,what the cross sectional area is,whether it is rough-sawn or planed,whether or not it is treated.The answer will depend on:where in the world you are buying,how much you are buying - retail or large quantities,what the cross sectional area is,whether it is rough-sawn or planed,whether or not it is treated.The answer will depend on:where in the world you are buying,how much you are buying - retail or large quantities,what the cross sectional area is,whether it is rough-sawn or planed,whether or not it is treated.The answer will depend on:where in the world you are buying,how much you are buying - retail or large quantities,what the cross sectional area is,whether it is rough-sawn or planed,whether or not it is treated.
Compare similarities and differences consumer buying and organizational customer buying?
The similarities between consumer buying and organizational customer buying is that both have the need to purchase. The difference lie in the quantity of purchases. Consumer buying entails retail, while organizational customer buying entails wholesale.
Can a company resell items bought at a retail store?
In essence, the nature of retail is buying goods from a wholesaler and selling them at retail. Technically there is nothing illegal or wrong with reselling items bought at a retail store.
What is the average cash cycle of a retail firm?
The average cash cycle of a retail firm varies depending with the size of the firm. It also varies according to the geographical location and the type of goods being retailed.
Explain modern trade in retail trade?
retail trade is the trade that involves buying of goods in small quantities and sell them in lage quantities.simon.m.m
Which major trend characterized the 1920s and continues today?
retail buying on installment of credit
What are the advantages and disadvantages of using a wholesaler?
There are many advantages to buying from a wholesaler instead of buying from a retail outlet, but the most notable reasons are that you can usually buy items at or lower than the suggested retail price, or buy multiple units of items at a significantly cheaper prices.
What is difference between ordering and buying retail merchandise?
The difference between ordering and buying is In ordering you obtains the delivery service from the shop to your destination and in case of Buying you don't use delivery services offered by the company.
Is buying a wireless router worth 50?
they retail everywhere for about 50. dollars and are worth the money in my opinion
