ADM 2320 Lecture Notes - Lecture 12: Instant Gratification, Omnichannel, Multichannel Marketing
28 Jun 2018
School
Department
Course
Professor
Sits at the end of the supply chain
1.
Marketing meets the customers
2.
Fulfilling customer expectations
3.
Set of business activities that add value
4.
Stores, catalogues, kiosks, Internet
5.
Retailing:
Adding value to product -functions performed by intermediaries
Moms & Pops Specialty Stores -
1.
Departments Stores - Eaton's in 1869. First one-stop store, low-cost shopping
2.
Chain stores (
3.
Discount stores(1960) - e.g. Giant Tiger
4.
Free Trade and GST encouraged cross-border shopping given our proximity to US - changed
our expectations re products, services, prices from Canadian stores
5.
Retail trade as GDP: 6% approximately
146,000 firms employing more than 795,000 people
a.
Entry of foreign players
b.
Longer hours of operation
i.
One-stop shopping
ii.
Ample parking
iii.
Include crowds
1)
Traffic congestion
2)
For older consumers, very large spaces can be exhausting and disorienting
to navigate
3)
Lack of personal service
4)
Disadvantages:
iv.
Power centers - 1992
c.
Retail spending (50-55% of household income)
6.
Internet - 1993 - new game
7.
Stylized facts:
Department stores - broad variety and deep assortment
•
Full-line Discount - broad variety at low prices
•
Specialty - Limited merchandise with service in small store
•
Drugstore - specialty for pharmaceutical and health
•
Category Specialist - discount with narrow but deep assortment
•
Extreme Value - full line, limited, very low prices
•
Off-Price - inconsistent assortment of brand name at low prices
•
General merchandise retailers:
From of ownership (chain, independent)
1.
Shopping effort required by customers (convenience, shopping, specialty)
2.
Services provided for customers (self service, limited, or full-service)
3.
Product lines (specialty, general merchandise)
4.
Location of retail transactions (store, non-store, internet)
5.
Classification Criteria:
Outlet starts with
1.
Wheel of retailing:
13 - Retailing and Multichannel marketing
Tuesday, 21 November, 2017
2:01 PM
Marketing Page 1
Document Summary
Sits at the end of the supply chain. Adding value to product -functions performed by intermediaries. Free trade and gst encouraged cross-border shopping given our proximity to us - changed our expectations re products, services, prices from canadian stores. Power centers - 1992 a. b. c. i. ii. iii. iv. For older consumers, very large spaces can be exhausting and disorienting to navigate. Department stores - broad variety and deep assortment. Full-line discount - broad variety at low prices. Specialty - limited merchandise with service in small store. Category specialist - discount with narrow but deep assortment. Extreme value - full line, limited, very low prices. Off-price - inconsistent assortment of brand name at low prices. Shopping effort required by customers (convenience, shopping, specialty) Services provided for customers (self service, limited, or full-service) As more time passes, outlet adds still more services. Put the customer at the center of the strategy.
