BU352 Chapter Notes - Chapter 13: Personalization, Instant Gratification, Hypermarket
Document Summary
Multichannel strategy: selling in more than one channel (i. e. store, catalogue, kiosk, and. Extreme-value retailer: a general merchandise discount store found in lower-income urban or rural areas: services retailers: firms that primarily sell services rather than merchandise. Retail mix: product (merchandise assortment), pricing, promotion, place, personnel, and presentation (store design and display) strategies to reach and serve consumers. Promotion: co-operative (co-op) advertising: an agreement between a manufacturer and retailer in which the manufacturer agrees to defray some advertising costs. Personnel: share of wallet: the % of the customer"s purchases made form a particular retailer. Omnichennel: an omnichannel strategy creates a consistent experience for consumers across all distribution channels. Benefits of stores for consumers: store channel. Benefits of internet and multichannel retailing: internet channel. Access to items online that are out of stock in store. Access to wish lists and gift registries. Access to loyalty program information: catalogue channel.
