self service retail food store offering groceries, meat and produce
Limited assortment supermarkets are...
retailers that offer only one or two brands or sizes of most products (usually including a store brand) and attempt to achieve great efficiency to lower costs and prices
combination of supermarket and full line discount store. provide one stop shopping convinience to customers, since they have a little bit of everything
offer low prices to general public and small businesses, has irregular assortment of food and general merchandise and little service
limited variety and assortment of merchandise at a convenient location with speedy checkout, modern version of neighborhood mom and pop grocery store. limited in terms of depth and breadth and charge higher prices than supermarkets
general merchandise retailers
department stores full-line discount stores specialty stores drugstores category specialists extreme value retailers off price retailers
retailers that carry a broad variety and deep assorrment, offer customer services, and organize their stores into distinct departments for displaying merchandise high fashion chains (exclusive designer merchandise) modesty priced merchandise (macys) value oriented jc penny
full line discount stores
retailers that offer a broad variety of merchandise, limited service and low prices (walmart)
concentrates on a limited number of complementary merchandise categories and provide high level of service. ____ ____ tailor their ___ strategy toward very specific market segments by offering deep but narrow assortments and sales associate expertise
Specialty stores that concentrate on health and personal grooming merchandise.
offer a narrow but deep assorment of merchandise. predominantly self-service. (staples) big box retailers or category killers
home improvement center
category specialists offering equipment and material used by do-it-yourself contractors for home improvemnt
extreme value retailers
full line discount stores that offer a limited merchandise assortment at very low prices. they reduce costs and maintain low prices by buying opportunistically from manufacturers with excess merchandise. broad but shallow assortment of household goods
offer an inconsistent assortment of brand name merchandise at a significant discount from MSRP. may be brick-and-mortar stores, online outlets. outlet stores factory outlets
merchandise that has minor mistakes in construction
off-price retailers that often stock irregulars, out-of-season merchandise, or overstocks from the parent company
off-price retailers. improve their revenues from irregulars.
sell services rather than merchandise. jiffy lube. drive thru at burger king.
Developing a Retail Strategy Using the Four P's:
Share of Wallet
The percentage of the customer's purchases made from a particular retailer
Benefits of Stores for Consumers
Toughing and feeling
Cash and credit
Entertainment and social interaction
shoppers have only an idea of what they want. they go to a store to see what is available before making their final decision of what they want to buy.
touching and feeling products
this is the greatest benefit offered by stores which is letting customers use their senses: touch, smell, taste, vision and hearing to examine products
sales associates that provide meaningful, personalized information. salespeople can be helpful when purchasing a complicated product.
cash and credit payment
stores are the only ones that accept cash, some people prefer it because it doesn't generate interest.
entertainment and social experience
shopping can be stimulating providing a break for people in their daily routine enabling them to interact with friends
stores have the advantage of allowing customers to get the merchandise immediately after paying for it
physical presence of the store reduces their perceived risk of buying and increases their confidence that any problems with merchandise will be corrected
benefits of the internet and multichannel retailing
offers the potential of a greater selection of products. enables retailers to provide customers with more personalized info about products and services.. offers sellers opportunity to collect info about consumers shopping behavior. increases customer satisfaction and loyalty. allows sellers to enter new markets economically.
effective multichannel retailing
integrated CRM Brand image pricing
this information storehouse allows retailers to efficiently handle complaints, expedite returns, target future promotions and provide a seamless experience for customers when they interact with the retailer through multiple channels
retailers need to provide a consistent ____ ___ across all channels. each channel emphasizes function, not fashion
customers expect pricing consistency for the same SKU across channels
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