ADM 2320 Lecture Notes - Lecture 21: Personal Selling
10 Dec 2016
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Document Summary
Promote & showcase what the store has to offer. Displays are an important type of promotion. Wheel of retailing: offers 1 view of how new forms of retail outlets compete in the market low prices, low margins & low status. Over time, they add more & more service & other improvements & thus are able to raise prices, earn higher margins & achieve higher status w/ consumers. Mcdonalds is progressing in wheel of retailing, redesigning to upscale restaurants. Personal selling & customer service reps are also part of the overall promotional package. Services: easy to buy & use products. Retail associates provide information, facilitate the sale. Augmented by technology: in-store kiosks, internet, self-checkout lanes. Goal = provide (cid:373)ore value to a fir(cid:373)(cid:859)s best customers. Place strategy: convenience is a key ingredient to success. In retailing, there are 2 aspe(cid:272)ts to (cid:862)pla(cid:272)e(cid:863) 1st = location, & 2nd = supply chain mgmt.
