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44 Cards in this Set
- Front
- Back
One consideration in retail strategy is trying to figure out what to charge a customer for a given brand within a product category. This consideration refers to_________, one fo the elements of the four P's frame work. |
Price |
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_______ is a major benefit to using the internet channel and refers to the ability to tailor the info for each customer economically. |
Personalization and customization |
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Personalized customer service= |
providing help in the form of FAQ's, 800#s, or online chats.
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Personalized offerings = |
creates individualized web pages for each consumer based on their prior history, which is typically derived form past purchases. |
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Full-line discount, specialty, department, and off-price are all types of retailers that fall under which broad retailing category? |
General Merchandise |
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A manufacturer will seek out partnerships w/ _____ who will sell the manufacturer's products and/or services to consumers. |
Retailers |
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To determine how much integration is best, each retailer must address issues such as... |
Brand Image, Integrated CRM, Supply Chain, and Pricing. |
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____refers to the # of channel members used @ each level of the marketing channel. |
Distribution Intensity |
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7 Eleven is an example of a ______ store that sells a limited variety of merchandise in a small but easy-to-reach location. |
Convenience |
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While consumers could do most of their shopping using the internet/catalogs, part of the allure of using the store channel to shop is that it allows consumers to talk to others. This is a function of what type of experience? |
Social and Entertainment experience |
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Personalized _____ refers to retailers creating individualized web pgs. for each consumer based on their prior history, which is typically derived from past purchases. |
Offering |
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When customer service/product offerings are individually tailored to the consumer shopping on an internet channel, they are said to be... |
Personalized |
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Macy's, Sears, JCPenny, and Kohl's are examples of General Merchandising retailers known as _____ stores that carry a broad variety and deep assortment of products/customer services. |
Department |
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Which of the following firms would be most likely to employ an intensive distribution strategy for their products?: *Procter and Gable *Estee Lauder *Adidas *Pepsi |
Proctor and Gable and Pepsi |
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______reduction refers to the phenomenon where consumers make purchases in physical stores and feel more confident about the purchase. |
Risk |
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Because some of the channels is somewhat ___, a critical decision facing multichannel retailers is the degree to which they should or are able to integrate the operations of the channels. |
Unique |
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Perks of online (multichannel retail) shopping over traditional store channels are... |
*Deeper/broader selection *Personalization *Gain insights into consumer shopping behavior *Expand Market presence *Increase Customer Satisfaction and loyalty *More Info *Easier to search for specific items |
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The route/pathway that the product takes to get form the manufacturer to the retailer is know as... |
Channel Structure |
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An_____distribution strategy is when the goal is to get the manufacture's products into as many different outlets as possible. |
Intensive |
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Multichannel Strategy(Omnichannel) are |
Retailers that use some combination of stores, catalogs, and the internet to sell merchandise. |
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Exclusive Distribution is |
when manufacturers grant exclusive geographic territories to one or very few retail customers so no other customers in the territory can sell a particular brand. **Specialty Products; BMW's, Prada, etc. |
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Supercenters are.... |
large stores that combine a supermarket with a full-line discount store. |
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Category Specialists are |
discount stores that offer a narrow but deep assortment of merchandise. |
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Convenience Stores provide a |
limited variety and assortment of merchandise at a convenient location in 2000-3000 sq foot stores with speedy checkout. |
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A conventional supermarket is a self-service... |
food store offering groceries, meat, and product with limited sales of nonfood items. Such as, health and beauty aids and general merchandise. |
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Drugstores are ______ stores that concentrate on pharmaceuticals and health and personal grooming merchandise. |
Specialty |
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Extreme Value Retailers are .... |
small, full-line discount stores that offer limited merchandise assortment at very low prices. |
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Full-line discount stores are retailers that offer... |
a broad variety of merchandise, limited service, and low prices. |
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Intensive distribution strategy is |
designed to get products into as many outlets as possible. |
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Off-price retailers offer |
an inconsistent assortment of brand name merchandise at low prices.
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Selective Distribution uses... |
a few selected customers in a territory. **Shopping products; Iphone, Ipad, TV's, Laptops, ETC. |
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Intensive Distribution.... |
is convenience products; Coke, Lays Chips, Batteries, Cards, etc. |
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Specialty stores concentrate on |
limited number of complementary merchandise categories and provide a high level of service in relatively small stores. |
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Warehouse Clubs are .... |
large retailers that offer a limited and irregular assortment of food and general merchandise with little service at low prices for ultimate consumers and small businesses. |
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The biggest thing a manufacturer will look for when deciding on an _____ partner is whether or not their customer matches the manufacturers target market. |
Retail |
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Factors for Relationships with retailers are... |
Choosing retailing partners Identifying types of retailers Developing a retail strategy Managing a multichannel strategy |
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Choosing Retail Partners: Channel Structure (3) |
1. Degree of vertical integration 2. Manufacturers brand 3. Power of manufacturer and retailer |
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Types of retailers are...(3) |
Food, General Merchandise, Service |
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Food Retailers consist of... |
1. Super markets- limited nonfood 2. Supercenters- Walmart, Meijer, K-mart 3. Warehouse Club- limited assortment; Sam's club, Costco 4. Convenience Store- limited variety; good locations |
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General Merchandise Retailers consist of...(7) |
1. Dep. stores- broad variety and deep assortment 2. Full-Line Discount- broad variety @ low $ 3. Specialty- limited merchandise w/service in small stores 4. Drugstores 5. Category Specialists- discount w/narrow but deep assortment. 6. Extreme Value- Full-line, limited, very low $ 7. Off-price- Inconsistent assortment of brand name @ low $ |
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Service Retailers.... |
Are firms that primarily sell services rather than merchandise. (large and growing part of retail industry.) |
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The 4 P's for Retail... |
Product - Providing the right mix of merchandise and services Price - Value of both the merchandise and the service provided Promotion - Retailers use a whole variety of promotions, both within their retail environment and through mass media. Place - Convenience is a key ingredient to success |
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Benefits of Stores for Consumers... |
* Touching/feeling *Browsing *Personal Service *Cash and Credit *Entertainment and social interaction *Instant gratification *Risk reduction |
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Effective multichannel MKT deals with |
Integrated CRM, Brand Image, Pricing, and supply chain. |