The Recovery: slow and moderate We are looking at a pretty slow recovery. We have seen periods over the last year and a half when the economy has looked like it was picking up, and people would start talking about the economy gaining a head of steam. We have seen other periods where the economy has slowed down, and people have worried about it stalling and there being a double-dip.
I think that fact is that it keeps averaging out to a slow, moderate pace of expansion. I think that is what we will continue to see. So what can we do about that? First of all we need to be patient. There are still important structural problems in our economy that need to be worked through. We went into the recession with an oversupply of housing, with a fragile financial system, and with too much debt.
Things have improved on some of those margins, but we have more to work off. I think the government needs to be focused on creating conditions whereby businesses feel comfortable planning ahead and hiring. So, for example, they need to work out a plan for reducing the deficit and the debt over the long run so that businesses have the confidence to move forward with their plans. To the extent that we use any fiscal policy to support the recovery, at this point it should probably be fairly narrowly targeted on creating jobs.
So that is encouraging hiring. Eberly and James H. I think another thing they might think about is whether there are cost-effective ways to match some of the workers that have been unemployed with new jobs.
We have a very high rate of long-term unemployment in this recovery. In fact it is higher than it has been at any time, even in the worst episodes we have seen in the post-war period. It involves high annual sales and employment. Retail involves the selling of goods to end users. While meeting the needs of customers, following are some of the functions performed by a retailer: Customer Convenience: Perhaps the most important role of bringing the ready to be consumed goods to the doorstep of the consumer is performed by the retail community.
Consumers benefit from retailing as retailers perform marketing functions that makes it possible for customers to have access to a broad variety of products and services. Predicts IT opens up to new demands and new outcomes. To achieve and maintain success in such a complex system as market it is essential to every marketing person to understand clearly consumer behavior.
Understanding consumer behavior is not that easy as it may seem from the first glance. The reason is that there are plenty of various factors that may influence it in one certain way or the other. When considering each of the factors it is also important not to forget that they ought to be analyzed as different parts of one whole picture, that is, in correlation with each other.
Value Line. Journal of Marketing, 77 6 , Strategy of image management in retail shops. Kaifi, B. Gale Encyclopedia of U. Economic History, With liberal trade restrictions and globalization, companies and economies around the world have become more financially intertwined. For the most part this has stimulated economic growth around the world, creating more affordable consumption opportunities. The being said, there still remains a big loophole in the tax system between countries in the global economy.
For many multinationals including Apple, they have moved their most profitable subsidiaries overseas to reap the tax advantage unavailable in the United States. China has become a global manufacturing center.
Although this industrial development has caused many environmental and social issues, it has allowed the Chinese economy to increase , making China one of the biggest super power with the second largest economy. United States has had its position in the world economy threatened by the BRIC — Brazil, Russia, India, and China, because they can provide labor for cheaper than what the United States can domestically.
He informs and educates customers about product features and benefits. They provide information to consumers through advertising, displays, and signs and sales personnel. Marketing research support is given to other channels, members. Retailing in a way is the final stage in marketing channels for consumer products. He also provides feedback about consumer requirements to the manufacturers and wholesalers which help them in planning production and supply. The retailing industry mobilizes the investment and savings of people, as a small shop can be set up with minimal investment.
They store merchandise, mark prices on it, place items on the selling floor, and otherwise handle products; usually they pay suppliers for items before selling them to final customers. They complete transactions by using appropriate locations, and timings, credit policies, and other services e. They influence the lifestyle of consumers and help people to build their identity in a social setting. Retailing has a great impact on the economic development of a nation.
Retailing has become an intrinsic part of our daily lives. Consumer spending on retail goods drives much of the global economy, and the retail industry employs a large number of people. Nations that have enjoyed the greatest economic and social progress have a vibrant retail sector.
Retailing is one of the most important industries in the world and plays a predominant role in the economic development of the country. Healthy retail sector growth and speeds up economic development. There are a large number of people and companies involved in the production, distribution, and retail of goods. Globally, retailing is the largest revenue generator and employment provider next only to agriculture.
It provides opportunities to the poorest and unskilled along with the educated and skilled. As a major source of employment retailing offers a wide range of career opportunities including; store management, merchandising and owning a retail business.
Successful retailers also recognize that people want to see the improvements in the general level of consumption and social cohesion over time. Retailers have to enhance their perceived value to the community by acting as a focal point and through effective public relations and promotional campaigns including sponsorships.
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