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TR Chapter 14 - Chapter 14 Direct Marketing Direct and...

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Copyright © 2007 by Nelson, a division of Thomson Canada Limited Chapter 14 Chapter 14 Direct Marketing Direct Marketing and Marketing and Marketing Resellers: Retailers Resellers: Retailers and Wholesalers and Wholesalers
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited Chapter Objectives Chapter Objectives 1. Explain the wheel of retailing. 2. Explain how retailers select target markets. 3. Show how the elements of the marketing mix apply to retailing strategy. 4. Explain the concepts of retail convergence and scrambled merchandising. 5. Compare the basic types of direct marketing and nonstore retailing. 6. Explain how much the Internet has altered the wholesaling, retailing, and direct marketing environments. 7. Identify the functions performed by wholesaling intermediaries. 8. Outline the major types of independent wholesaling intermediaries and the appropriate situations for using each.
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited Retailing Retailing Evolution of Retailing Evolution of Retailing Traced to trading posts such as the Hudson Bay Company and peddlers First retail institution in the U.S. was the General Store Supermarkets appeared in the early 1930s Discount stores arrived in the 1950s Convenience food stores emerged in the 1960s The 1980s saw the first off-price retailers
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited Wheel of Retailing Wheel of Retailing Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current retailers, while maintaining profits through reduction of services Once established, more services are introduced and prices rise It then becomes vulnerable to new, lower price competitors
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited Retailing Strategy Retailing Strategy A retailer develops a marketing strategy based on the firm’s goals and strategic plans Two fundamental steps: Selecting a target market Developing a retailing mix to satisfy the chosen target market Retail image : Consumers’ perceptions of a store and the shopping experience it provides
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited Selecting a Target Market Selecting a Target Market Retailers analyze demographic, geographic, and psychographic profiles to segment and select potential markets
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited Merchandising Strategy Merchandising Strategy Category management: Retailing strategy which views each product category as an individual profit centre, and the retailer manages the performance and growth of the entire category
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14- Copyright © 2007 by Nelson, a division of Thomson Canada Limited
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