RMG 101 Lecture Notes - Lecture 6: Types Of Restaurant, Voice Of The Customer, Indulgence

• School: Ryerson University
• Department: Retail Management
• Course: RMG 101
• Professor: Frances Gunn

Document Summary

Rmg 100 week 6 curated collections, buying and the changing consumer needs. Will cover marketing wheel, pete"s pet store (experience retailing), Matters to retailers because we need to know what to sell. Understanding changing customer needs translates to knowing drives consumers. Innovative product development (kinky boots) changes target audience in footwear business to transvestites and creates high end shoes for them. Buyers must think differently for limited spaces in their stores based on consumer needs. Research is critical to make right decisions. Measuring success helps ensure you are on track. There are more efficient ways to buy but they could decrease connection to your consumer. Buyers and curators of collections need to focus on trends. Many retailers are stocking and promoting items directed at calming and relaxing customers. Reflects basic human needs (food, clothing, shelter, etc. ) Motives are based on a customer"s feelings rather than logical thought.