BUSI 2208 Lecture Notes - Variety Store, Sobeys, Walmart
22 Dec 2012
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Document Summary
Virtually every penny a consumer spends outside of taxes in done so through retailers. The big middle (14. 1) the big middle refers to that part of the market in which the most successful retailers compete because the biggest potential customer base resides there. New retailers often start out with an innovative format, offer a low price advantage or both. Over time the most successful innovative and low price competitors drift into the big middle. Customers become loyal to big middle retailers because they provide them with what they need: good customer service, and excellent loyalty programs. Firms get to the big middle through innovations in products, formats or operational excellence leading to low prices and great value. Must understand their s and w"s, keep an eye on target markets as well as competition and do everything they can to grow and retain a loyal customer base.
