Chapter 1
Concept of Strategic Planning Relate Marketing Concept to Retailing Define Retailing Various Perspectives Impact Special Characteristics Concept of Strategic Planning Relate Marketing Concept to Retailing Total Retail Experience Customer Service Relationship Retailing
The business activities involved in selling goods and services to consumers for their personal, or household use. It includes every sale of goods and services to the final consumer.
Opportunities Challenges Start New Business Franchising Globalization Bored Consumers Time Poor Society Too Many Stores High Consumer Expectations
Does NOT Always Include Tangible Goods Services Does NOT Always Include Store Retailer
Traditional Retailers Non-Traditional Retailers Other Services Sales $3 Trillion in U.S Non-Traditional Retailers Sales $250 Billion Other Services Several Hundred Billion Major Source of Jobs
Final Consumer Wholesaler Retailer Manufacturer
Divergent Viewpoints Types of Distribution Exclusive Intensive Selective
Competition in the Marketplace Product Image Slotting Allowances Distribution Rights
Management Operations Merchandising
Providing Assortment Breaking Bulk Providing Service Holding Inventory
Brand A Customers Brand B Brand C Brand D Brand E Brand F Manufacturer Brand C Brand D Brand A Brand B Brand E Brand F Wholesaler Brand A Customers Brand B Brand C Brand D Brand E Brand F Retailer
Small Average Sales Impulse Purchases Retailer’s Strategy Popularity of Stores
Determine Customer Market Devise Overall, Long-Run Plan Define Business Type Set Objectives Long-Term Short-Term Determine Customer Market Devise Overall, Long-Run Plan Implement Integrated Strategy Evaluate Performance
Customer Orientation Coordinated Effort Retail Retailing Strategy Concept Value-Driven Goal Orientation
Includes all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer
Satisfaction Based on: Intangible Perishable Inseparable Inconsistent Satisfaction Based on: Expectation Past Experience Perceptions
Total Retail Experience Monitor Customer Satisfaction Stay in Touch with Customers
Do We Trust Our Customers? Do We Stand Behind What We Sell? Do We Stress Promise-Keeping in Our Firm? Do We Value Customer Time? Do We Communicate with Customers Respectfully? Do We Respect ALL Customers? Do We Thank Customers for Their Business? Do We Respect Employees?
The Definition of Retailing Various Perspectives Impact Special Characteristics Concept of Strategic Planning How the Marketing Concept Relates to Retailing Total Retail Experience Customer Service Relationship Retailing
Questions? Questions? Questions? Questions? Questions?