MKTG 355 Lecture Notes - Lecture 2: Omnichannel, Store Brand, Pricing Strategies

• School: Towson University
• Department: Marketing
• Course: MKTG 355
• Professor: J.Rodman

Document Summary

Stores are the largest retail sales channels and the internet is the second largest channel. Why retailers use multiple channels to interact with customers: Customers want what they want, when they want it. Customers want new ways to engage with retailers. (i. e. store, kiosk, catalog, call center, web/e-mail, mobile) Stores provide: personal service, risk reduction, browsing, cash payment, touching and feeling merchandise, entertainment & social interactions, and instant gratification. Catalogs provide: safety, convenience, and ease of use. Internet provides: safety, convenience, broad and deep assortments, extensive and timely information, and personalization. Integrated shopping experience: communicate with customers anytime, anywhere through multiple channels, website, store, kiosks, handheld devices, integrating legacy systems for seamless customer interface. Today"s empowered consumers live in a multi-channel world- research online, buy offline, and demand service everywhere. Stages in the buying process: recognize need, search for information. Utilitarian needs- satisfied when purchases accomplish a specific task.