RMG 910 Lecture Notes - Lecture 1: Vending Machine, Starbucks

• School: Ryerson University
• Department: Retail Management
• Course: RMG 910
• Professor: Mark Lee

Document Summary

Retail marketing meeting needs of consumer (set of value adding activities that solve the consumer"s needs) Value willingness to pay, benefits of something -- the cost of what you give up best bang for your buck . Satisfaction is based on expectations-- if you expect it to be great then you want it to live up to it -- sharknado more satisfaction since you expected it to be shitty but it wasn"t so bad. Value is more for your money more value out of dark night 8/10 rating, better movie for the money. Types of channels; kiosk, vending machine; visual, convienient b&m; touch/feel, experience catalogue/tv shop; safety, visual mobile, online,, telephone; 24/7, visual. Multi-channel retailing- multiple ways to sell merchandise, finding the optimal profit maximizing combination to increase value and product offering. Retailers who sell through more than one channel. Using a combination of channels to leverage unique benefits - meet customers needs.