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| The firm's particular combination of store location, operating procedures, goods/services offered, pricing tactics, store atmosphere and customer services and promotional methods. |
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| Consumers view the company as distinct enough to be loyal to it and go out of there way to shop there; to be dominant |
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| a theory that states that retail innovators often first appear as low-price operators with low costs and low profit margin requirements. overtime, the innovators upgrade the products they carry and improve their facilities and customer service (adding better quality items, locating in higher rent sites, providing credit and delivery) and prices rise. As innovators mature, they become vulnerable to new discounters. |
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| Principles of retail wheel |
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| 1) there are many price sensitive shoppers who will trade in everything for low prices 2) Price sensitive shoppers are often not loyal 3) prestige-sensitive customers like shopping at stores with high end retai lstrategies 4) |
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| Involves a retailer increasing its width of assortment; it occurs when a retailer adds goods and services that may be unrelated t oeach other and to the firm's original business. |
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| Gods and services pass through identifiable stages: Introduction, Growth, Maturity and Decline. |
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| The combination of seperately owned retail firms. By merging, retailers hope to jointly maximize resources, improve their customer fatabase, limit weaknesses, gain competitive advantage, and improve performance and bargaining power. |
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| Retailers become active in businesses outside their normal operations to reach different market segments and maximize their control in the market. |
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| A well located, , food oriented retailer that is open long hours and carries long hours and a moderate number of items, particularly interesting to men. |
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| A self-service food store with grocery, meat and produce departments and minimum annual sales of $2 million. |
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| A departmentalized food store with a wide range of food and related products; sales of general merchandise are rather limited. |
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| Larger and more diversified than a conventional supermarket, but usually smaller and less diversified than a combination store. |
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| Unites a supermarket and general merchandise in one facility, with geneeral merchandise accounting for 25 to 40 percent of sales. Ex: Fred Meyers |
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| A combination store blendingan economy supermarket with a discount department store |
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| a food-based discounter that focuses on small selection of items, moderate hours of operation, few services, and limited manufactured brands. It carries fewer than 2000 items. Sav-A-lot and Aldi. |
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| Food-based discounter offering a moderate number of food items in a no frill setting. |
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| focuses on selling one goos or services line, such as young women's apparel. |
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| Also known as a power retailer, it is an especially large specialty store that features an enormous selection in its category and can offer low prices. Toys R Us, The Limited, Old Navy, barnes and nobles |
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| A large retail unit with an extensive assortment of goods and services that is organized into seperate departments with purposes of buying, promotion, customer service, and control. |
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| traditional department store |
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| dept. store where prices are average to quite good. Macy's is middle class, Bloomingdale's is upper class. |
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| Handles an assortment of inexpensive and popularly priced apparel and accesories, costume jewelry, notions, gifts and toys, candy, think dollar store |
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| features brand name, sometimes designer apparel and accesories, footwear, linens, fabrics, cosmetics and or housewares and sells them at everyday low prices. Buy what comes to them like off-season items that are discounted |
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| Manufacturer owned store selling closeouts |
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| Sells to consumers through one retail format |
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| sells to consumers throup multiple retail formats to help reach a bigger customer database. |
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| A customer is first exposed to a good or service through a nonpersonal medium (direct mail, tv, radio, mad, newspaper, or computer)and then orders by mail, phone or fax---and especially computers (think infomercials) |
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| using strategy mixes that are not store-based to reach consumers and complete transactions. exceeds $375 billion annually with 80% of it as direct marketing. |
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| A way to collect, store, and use relevant information about customers |
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| A way to collect, store, and use relevant information about customers including a person's name, address, background, shopping interests and purchase behavior. |
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| A retailer caters to a particular customer segment , emphasizes a limited number of items, and reduces production and postage costs. LL Bean, spiegel, travelsmith |
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| Steps in direct marketing strategy |
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| business definition->generating customers->presenting the message->customer contact response->order fulfillment->measuring results and maintaining the databbase |
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| Includes both personal contacts with consumers in their homes (and other nonstore locations such as offices) and phone solicitations initiated by a retailer. (Mary Kay, herbalife) |
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| a freestanding, electronic computer terminal that displays products and related information on a video screen, it often has a touch screen. |
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