Department Stores
Large retail stores selling many different kinds of merchandise arranged in separate departments. Such stores are found in nearly every important city in the world, and the large department stores often contain more than 100 separate departments. The two major categories of merchandise sold in department stores generally are apparel and home furnishings. Besides making many diverse items available for purchase in one place, department stores offer numerous services, including delivery and mailing of purchases; credit service, usually in the form of charge accounts; and fashion shows.
The organization of a modern department store is often complex because of the large number of goods and services provided. Typically, the operation of a store is conducted through five principal divisions: the merchandising division, responsible for the buying and pricing of merchandise; the sales promotion division, in control of advertising, display, public relations, and other related matters; the personnel division, which supervises employment and the training and welfare of employees; the operations division, responsible for customer and selling services, for deliveries, and for the receiving, marking, and maintenance of merchandise; and the finance and control division, which deals with accounting, customer credit, expense control, and other financial and budgetary matters. Within these five divisions are many subdivisions. The heads, or managers, of the five principal divisions are responsible to the general manager.
Some stores find it practicable to lease certain areas within the premises to outside concerns, which then run their own departments under the name of the department store. This arrangement is most frequently used for such specialized goods or services as millinery, photographic supplies, shoe repair, and beauty salons.
Retailing
Business activity of selling goods and services directly to consumers. Instead of selling products for resale, a retailer sells goods or services to individuals making purchases for themselves or their families. Some retailing businesses sell a combination of goods and services. For example, an automobile dealership that sells automobiles (goods) may also provide automobile repairs (services).
Retailers play an important role in getting products from producers to consumers. Retailers help direct the physical flow of goods and services from places that produce goods to places where goods are used. Since the retailer has direct contact with the users of goods and services, the retailer can discover and attempt to meet the needs and preferences of consumers.
RETAILING STRATEGY
To be successful, a retailer must distinguish itself from other retailers and develop a strategy for satisfying the needs and preferences of a specific consumer group. This strategy, called a retail mix, involves careful consideration of (1) the productto sell, (2) the quantity at which to make the product available, (3) the location at which to sell the product, (4) the time to make the product available, (5) the pricing of the product, and (6) the appeal that can be generated to attract the consumer's interest.
The Product
Retailers strive to offer products that appeal to the tastes of the consumer, are of good quality, and function properly. Sometimes the product must also provide psychological and emotional benefits, such as prestige or convenience. For example, an expensive watch with a well-known, visible brand name may give its owner a sense of prestige.
Quantity
Unlike wholesalers, who sell goods in quantities that often are too large to be useful for individuals or families, retailers sell products in small quantities that are more convenient for consumers. For example, wholesalers may sell jeans to retail stores in lots (units) of a dozen pairs each. Retailers then sell consumers jeans by the individual pair.
Location
A retailer's location must be convenient. In locating retail stores, retailers consider the market or town in which they want to establish themselves, the part of town to be in, and the actual site of their store. In some cases, no store is involved because the right location for shopping for a product is the consumer's home or place of business. These retailers without stores, known as nonstore retailers, act as direct marketers by contacting customers directly through mail, the Internet, television, telephone, or other means.
Timing
Retailers must make their products available at times when consumers are willing and able to buy them. Retailers identify consumer buying patterns and adjust such things as store hours, inventory levels, and promotional programs to accommodate consumers. Retailers also identify special times that generate opportunities to sell merchandise, such as holidays, changing seasons, and special occasions, such as weddings and school graduations.
Pricing
Retailers use different pricing strategies to attract different consumers. For example, some stores use low or discount prices to attract economy-minded consumers, while some stores set higher prices to convey an upscale image.
Appeal
Retailers work hard at creating an image of their store or product that customers find appealing. Retailers use such promotional techniques as advertising and public relations to create awareness and build interest in their products. These techniques also attract customers to the retailer's store, provide valuable information about the retailer, and persuade customers to buy.
National Mall
Land allocation was approved in 1790. Located in Washington, D.C., the mall extends from the Capitol to the Washington Monument. When the city of Washington was planned in 1791, a formal park was proposed by French architect Pierre L'Enfant. The mall was originally designed to be a broad avenue 1.6 km (1 mi) long and 122 m (400 ft) wide. Because the land was swampy, the area remained undeveloped until the beginning of the 20th century. The land was then drained and landscaped, and construction started on a number of buildings. Structures along the mall include the Capitol, the National Gallery of Art, and the Smithsonian Institution and nine of its museums. Administered by the National Park Service. Area, 59 hectares (146 acres).
the National Mall