MKTG 2030 Lecture Notes - Liquor Control Board Of Ontario, Scalability, Inventory Turnover

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coffeeduck671

24 May 2012

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Retailing is the final stop on the distribution path, the process by which goods and services are sold to consumers for their personal use. It helps explain the development of some but not all forms of retailing. Retailers are classified by their merchandise mix (variety and selection of products it sells), it is classified by merchandise breadth (different type of products, for ex. Groceries, toys and grills) and merchandise depth (varieties of each product, for ex. Retailers are also classified by high/low margins and high/low inventory turnover rates. For retailers, shoppers are an audience to entertain. Lcbo has wide varieties, music listening stations, gift-wrapping, cooking presentations. Store image is how the target market perceives the store. Atmospherics is the use of colour lighting, scents furnishings sounds and other elements to create a desired setting. When designing the store, management makes specific design decisions to correspond with the image.

Related Questions

Case Study 1: Garnier and Revlon: In Need of a Makeover

Question 1: According to the case, what caused Garnier and Revlon to pull out of China?

(25 marks)

Question 2: Describe how the issues discussed above could have been avoided by L'Oreal when they first entered the Chinese market. (25 marks)

Case Study 2: UNIQLO: The Innovative Route in Fashion Retailing

Question 1: According to the case, what stage of the product life cycle is UNIQLO in? Why so? (25 marks)

Question 2: Assuming that you are their target customer, would you purchase UNIQLO? Why or why not? (25 marks)

Maximum 2200 words

champagnelocust794

One product strategy used by retailers to differentiate themselves from competitors is
a. the use of private label brands
b. JIT product delivery
c. discount pricing
d. offering brand name merchandise
e. removing brand labels from their merchandise offerings

silversquirrel388

few years, British Sky Broadcasting has transformed the way people in Britain watch and use their television. Before Sky, people could never have imagined ordering a pizza or sending an email from their set. Today it's an accepted thing.

Part of Sky's success has been in its brand - in defining what makes Sky special and in expressing that difference visually, in products and in the actions of people in the company. And that brand has become one of the company's greatest assets. Brands help companies build a relationship with a customer. A good brand not only helps differentiate a company, it also helps the customer feel something as a result. A pair of Nike trainers might make a person feel more fashionable. A Sony minidisc player might make a person feel they are at the cutting edge of miniature technology. A Rolls Royce might make a person feel that they have reached the top.

Some brands even go beyond that and become so well known that they become generic. This means they're used as a general term for that type of product, even if it's a competitor's product. Walkmans, and Hoovers are a good example. People Hoover the carpet, even if they're really using an Electrolux.

A brand helps customer recognition and enables recognition to be spread by word of mouth as well as by advertising. A brand also adds value. It can allow a company to offer its products at a premium, without reducing the customers' perception of value for money. It also allows a company to extend what they offer to the customer - if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company.

That is why Sky has invested so much in its brand. As the first entrant 16 years ago in the field of multichannel television, it had the opportunity to build strong recognition and to even establish itself as the generic brand for multichannel television.

Source: (viewed 10 February 2019)

QUESTIONS

1. In the above article, "if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company". Discuss different ways that companies can use to increase brand loyalty. Justify your answers with relevant examples. (5 marks) (500 words)

2. In the above article "brand has become one of the company's greatest assets". Do you agree? Justify your answers with arguments and examples. (5 marks) (500 words)

redcaribou169

MKTG 2030 Lecture Notes - Liquor Control Board Of Ontario, Scalability, Inventory Turnover

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