“Economics has never been a science - and it is even less now than a few years ago.”…Paul Samuelson INTRODUCTION Economics is the social science that analyzes the production‚ distribution‚ and consumption of goods and services. A focus of the subject is how economic agents behave or interact and how economies work. A given economy is the result of a process that involves its technological evolution‚ history and social organization‚ as well as its geography‚ natural resource endowment‚ and ecology
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Importance of Location Decision in retail Business; The importance of the location decision is due to the following factors. Location is a major cost factor because it 1. Involves large capital investment 2. Affects transportation costs 3. Affects human resources cost‚ e.g.‚ salaries etc Location is a major revenue factor in retail business because it 1. Affects the amount of customer traffic 2. Affects the volume of business The terms ‘location’ and ‘site’ are often used interchangeably
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The Information Technology (IT) industry has become of the most robust industries in the world. IT‚ more than any other industry or economic facet‚ has an increased productivity‚ particularly in the developed world‚ and therefore is a key driver of global economic growth. Economies of scale and insatiable demand from both consumers and enterprises characterize this rapidly growing sector .The Information Technology Association of America (ITAA) explains ’information technology’ as encompassing
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RELATIONSHIP MARKETING APPROACH AND STRATEGIES IN RETAILING R.BRINDHA Ph.D Research Scholar‚ ABSTRACT Retailers face a dynamic and competitive retail environment. With increased globalization‚ market saturation and increased competitiveness through mergers and acquisitions‚ retailers are seeking competitive advantages by better managing customer relations. In today’s high tech age‚ where the marketing concepts and tools have undergone major changes with the introduction of e-commerce
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firms make choices‚ how they interact in markets‚ and how the government attempts to influence their choices. Macroeconomics: The study of the economy as a whole including topics such as inflation‚ unemployment‚ and economic growth. Micro and macro are closely interwined because changes in the overall economy arise from the decisions of individual households and firms. CHAPTER 2 Trade off: The idea hat because of scarcity‚ producing more of one good or service means producing less of
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Impact of growth in E-retailing on general consumer market E-commerce in recent times has been growing rapidly across the world. According to Report of Digital–Commerce. Industry sources indicate that this growth can be sustained over a longer period of time as e- commerce will continue to reach new geographies and encompass new markets. E-commerce means sale or purchase of goods and services conducted over network of computers or TV channels by methods specifically designed for the purpose
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INTRODUCTION At the beginning of the 21st century‚ retailing has experienced a significant change due to the increase of competition strategies. This report will illustrate the traditional concept of retailing and introduce three new kinds of retail forms and combination’s that has emerged‚ which includes co-branding retailing‚ limited time only stores and retail entertainment in the global market. RETAILING Retail‚ in the traditional sense includes all the activities in selling goods or services
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www.palgrave-journals.com/rpm PRACTICE PAPERS Decision support in online travel retailing B. Venkateshwara Raoà and Barry C. Smith Received (in revised form): 7th November‚ 2005 à Research Group‚ Sabre Holdings‚ 3150 Sabre Drive‚ MD 8203 HDQ‚ Southlake‚ TX 76092‚ USA Tel: þ 1 682 605 1721; Fax: þ 1 682 605 7690; E-mail: beju.rao@sabre.com B. Venkateshwara Rao is a Senior Principal in Research Group at Sabre Holdings. He develops customer behaviour‚ pricing‚ marketing‚ planning‚ and deal evaluation
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This article will: Prevent you from going bankrupt Demonstrate Internet opportunities for traditional retailers Show cost/profit modeling for effective e-business planning My motivation for this article is the analysis of commercially successful and commercially failing online grocery retailers. I have experience as wholesale supplier of two well managed but failing online grocery businesses. Management Summary Success of online grocery shopping depends on market potential and distribution
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Matrix No: 816563 Assignment: Case 12-1 <Tesco’s Global Strategy: The Assignment> Question: What are the key elements to Tesco’s success in the competitive retailing industry? Indentify critical success factor that has taken Tesco for victory growth among the competitive retailing industry is to consider their internal operational effectiveness. Tesco explained its growth strategy through “sell for less” model by get cheaper‚ sell more volume and grow bigger. These factors
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