Marketing Chapter 13: Retailing Strategies

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a significant factor in choosing retail partners?

Product pricing algorithms

Brand loyalty of consumers

Channel structure and power dynamics (correct)

Retail location prominence

Which of the following describes a type of retailer that assists customers beyond just selling products?

Discount retailers

Full-service retailers (correct)

Specialty retailers

Warehouse clubs

What is a challenge associated with omnichannel retailing?

Product variety limitations

Consistency across multiple channels (correct)

Higher operational costs

Increased consumer demand for personalization

Retailing is considered a part of which broader business activity?

Value creation Signup and view all the answers

What was a notable result of the financial issues faced by the company established in 1971?

Filing for creditor protection Signup and view all the answers

Which type of retailer offers a broad variety of merchandise with limited service and low prices?

Discount store Signup and view all the answers

What is a characteristic of category specialists?

Narrow variety with deep assortment Signup and view all the answers

What is one aspect included in the retail mix that retailers must develop?

Presentation Signup and view all the answers

Which store primarily sells health and personal grooming products, as well as pharmaceuticals?

Drugstore Signup and view all the answers

What type of retailer does not primarily sell merchandise but instead offers services?

Services retailer Signup and view all the answers

How do private-label brands benefit retailers?

They help differentiate merchandise. Signup and view all the answers

What is a common attribute of off-price retailers?

Inconsistent assortment of merchandise Signup and view all the answers

Which type of retailer typically offers both food and nonfood items and is larger than conventional supermarkets?

Big-box retailer Signup and view all the answers

What characteristic distinguishes larger firms in the supply chain?

Higher operational efficiency Signup and view all the answers

Which example best describes a conventional supermarket?

Safeway Signup and view all the answers

Which type of food retailer is characterized by its provision of a limited number of items at higher prices?

Convenience store Signup and view all the answers

Which of the following best describes hypermarkets?

Offer both food and nonfood items Signup and view all the answers

What is a primary benefit for larger firms not using supply chain intermediaries?

Lower operational costs Signup and view all the answers

Which category of food retailer typically includes warehouse clubs?

Big-box retailers Signup and view all the answers

Which of the following is NOT a characteristic of convenience stores?

Offers primarily fresh produce Signup and view all the answers

Study Notes

Chapter 13: Retailing and Omnichannel Marketing

Retailing is at the end of the supply chain, where marketing meets customer expectations.
Retailing activities add value to businesses (e.g., stores, catalogues, internet).
Choosing retail partners is critical. Factors include channel structure, vertical integration (strengthens manufacturer/brand in marketplace), and power of the manufacturer and retailer.
Customer expectations impact retail choices; customers need to easily find products and brands they expect, and those of competitors.
Larger firms are less likely to use supply chain intermediaries.
Types of food retailers include conventional supermarkets, big-box retailers, and convenience stores.
General merchandise retailers include discount stores, specialty stores, category specialists, department stores, drugstores, off-price retailers, and service retailers.
Developing a retail strategy includes segmenting the market and creating a retail mix.
The retail mix incorporates product, pricing, promotion, place, personnel, and presentation.
Retailers use various promotions in their retail environment and through mass media.
Store design and displays are an important aspect of promotion.
The wheel of retailing demonstrates changing outlet characteristics over time (outlet starts low-margin and low-status and progressively increases higher-margin and higher-status).
Personnel (e.g., personal selling, service representatives) is an important retail characteristic.
Technology (e.g., kiosks, Internet, self-checkout) enhances retail service.
Convenience is a key success factor for places.
Omnichannel strategy creates a consistent experience for customers across all distribution channels (this encompasses the Internet).
The Internet and omnichannel retailing benefits retailers in various ways (e.g., product selection, personalized information, consumer shopping behaviour data, and market expansion).
Effective Omnichannel Retailing relies on integrated CRM, supply chain, pricing strategies, and brand image.

Mountain Equipment Company

Established in 1971
Filed for creditor protection in 2020 due to losses of $80 million between 2017 and 2020.
Rebranded as Mountain Equipment Company
Returning to their roots (focus on outdoor gear) and aimed at recognition in the industry.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

This quiz focuses on Chapter 13, which covers the essential aspects of retailing and omnichannel marketing. It discusses the value added by retailing activities, the importance of choosing the right retail partners, and the impact of customer expectations on retail choices. Additionally, it explores various types of retailers and strategies for successful retailing.