retailing multichannel marketing management 6218
TRANSCRIPT
RETAILING
Multichannel Marketing Management
6218
RETAILERS ARE REINVENTING THEIR STORES TO MATCH THE WAY YOU WANT TO SHOP!
RETAILERS LOVE ITWHEN THE MAYOR VISITS!
THE VALUE OF RETAILING
Retailing
Consumer Utilities Offered by Retailing
• Place
• Possession
The Global Economic Impact of Retailing
• Form
• Time
Which retailer best provides which utilities?
The relative size of different types of retailers
CLASSIFYING RETAIL OUTLETSFORM OF OWNERSHIP
Independent Retailer
Form of Ownership
Corporate Chain
• Wholesaler-Sponsored Voluntary Chains
Contractual Systems
• Retailer-Sponsored Cooperatives
CLASSIFYING RETAIL OUTLETSFORM OF OWNERSHIP
• Franchising
Contractual Systems
Business-FormatFranchises
Product-DistributionFranchises
The top five franchises in the United States
Self-Service
CLASSIFYING RETAIL OUTLETSLEVEL OF SERVICE
Limited Service
Full-Service
Depth of Product Line
CLASSIFYING RETAIL OUTLETSTYPE OF MERCHANDISE LINE
• Specialty Outlets
• Category Killers
Breadth of Product Line
CLASSIFYING RETAIL OUTLETSTYPE OF MERCHANDISE LINE
• General Merchandise Stores
• Scrambled Merchandising
Hypermarket
Intertype Competition
Supercenter
Stores vary in terms of the breadth and depth of their merchandise lines
Hypermarkets are popular in Europe and Latin America while supercenters are popular in the U.S.
For Lands’ End, intertype competition means that there is competition between
various dissimilar retail outlets
Many types of retailers do not have stores
NONSTORE RETAILING
Automatic Vending
Direct Mail and Catalogs
NONSTORE RETAILING
Television Home Shopping
Online Retailing
GOING ONLINEGet Ready to Woot!
Elements of a retailing strategy
RETAILING STRATEGYPOSITIONING A RETAIL STORE
Retail Positioning Matrix
• Breadth of Product Line
• Value Added
The four positioning strategies for retailers
RETAILING STRATEGYRETAILING MIX
Retailing Mix
• Original Markup
• Maintained Markup
Retail Pricing
Markdown
• Gross Margin
RETAILING STRATEGYRETAILING MIX
Everyday Low Pricing (EDLP)
Everyday Fair Pricing
Benchmark or Signpost Items
Shrinkage
RETAILING STRATEGYRETAILING MIX
Off-Price Retailing
• Warehouse Club
• Outlet Store
• Single/One-Price Policy Store
RETAILING STRATEGYRETAILING MIX
Store Location
• Regional Shopping Centers
• Central Business District
Anchor Stores
• Strip Location
• Community Shopping Center
• Power Center
RETAILING STRATEGYRETAILING MIX
Retail Communication
• Atmosphere or Ambiance
• Image
Merchandise
• Category Management
• Metrics
Sales per Sq. Ft. Same Store Sales
USING MARKETING DASHBOARDSWhy Apple Stores May Be
the Best in the United States!
Sales per Square Foot ($) and Same Store Growth (%)
Same Store Growth (%) = Store Sales Year 2 ($) Š Store Sales Year 1 ($)
Store Sales Year 1 ($)
100
Sales per Square Foot ($) =
Total Sales ($)
Selling Area in Square Feet (#)
THE CHANGING NATUREOF RETAILING
THE WHEEL OF RETAILING AND RETAIL LIFE CYCLE
Wheel of Retailing
Retail Life Cycle
The wheel of retailing: How outlets change over time
The retail life cycle describes the stage of growth and decline for retail outlets
FUTURE CHANGES IN RETAILING
Multichannel Retailers
Managing the Customer Experience
Category Management
MARKETING MATTERSThe Multichannel Marketing Multiplier
MAKING RESPONSIBLE DECISIONSGREEN ISN’T JUST A COLOR TO RETAILERS.
IT’S A VALUE!
MALL OF AMERICA: SHOPPINGAND A WHOLE LOT MORE
VIDEO CASE
VIDEO CASEMALL OF AMERICA
1. Why has Mall of America been such a marketing success so far?
VIDEO CASEMALL OF AMERICA
2. What (a) retail and (b) consumer trends have occurred since Mall of America was opened in 1992 that it should consider when making future plans?
VIDEO CASEMALL OF AMERICA
3. (a) What criteria should Mall of America use in adding new facilities to its complex?(b) Evaluate (i) retail stores,(ii) entertainment offerings, and (iii) hotels on these criteria?
VIDEO CASEMALL OF AMERICA
4. What specific marketing actions would you propose that Mall of America managers take toensure its continuing success in attracting visitors (a) from the local metropolitan area and(b) from outside of it?
ARE THERE TOO MANY RETAIL STORES?
SUPPLEMENTALLECTURE NOTE
RETAILING
FRANCHISING OFFERS OPPORTUNITIES AND
FINANCIAL, LEGAL, AND CULTURAL CHALLENGES
SUPPLEMENTALLECTURE NOTE
RETAILING