COMMERCE 2MA3 Lecture Notes - Lecture 45: Convenience Store, Costco, Online Shopping
17 Nov 2016
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Category: carry products ranging high to low. Department store: many products, wide product assortment. Extreme value retailer is different because it has a much more stable set of products than others. Service retailers: provide pure services (i. e. dry cleaners) Offer a depth of products that no one else carries. Specialty stores need to serve the niche. Providing the right mix of merchandise and services. Price defines the value of both the merchandise and the service. Retailers can use a wide variety of promotions such as pamphlets, ads, etc, within stores retailers can also promote their products (i. e. costco samples) Outlet now has still higher prices still higher margins still higher status: new form of outlet enters retailing environment with characteristics of outlet box 1. Goal is to provide more value to their best customers. Some retailers are trying to identify based on loyalty cards etc and find out who the best customers are and provide higher services for them.
