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MKTG 436 CHAPTER 1 LECTURE NOTES

MKTG 436 CHAPTER 1 LECTURE NOTES - Value enhancing features...

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MARKETING 436 CHAPTER 1 LECTURE NOTES Retailers are at the front of the chain (Manufacturing, Distributing, Retailing,  Customer) Primary Channel Functions: Breaking the bulk    Creating Assortment Reducing the number of transactions What is Value? Channel Perspective: A series of activities and processes that provides a certain value for the  consumer Customer Perspective: Shopper’s perception of the value chain View of all the benefits from a purchase versus the price paid Retail Value Chain Represents the total bundle of benefits offered to consumers through a  channel of distribution Store location and parking Retailer ambience Customer service Brands/products carried, product quality Retailer’s in-stock position Shipping Prices Image 3 Aspects of Value-Oriented Retail Strategy Expected E.g. Supermarket Stocked Augmented
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Unformatted text preview: Value enhancing features or services that will separate them from the rest of the industry MARKETING 436 CHAPTER 1 LECTURE NOTES 24 hr. stores (Safeway) What is in the augmented will soon be expected Potential Differentiate yourself using means that haven’t been used yet Pitfalls to Avoid in Planning a Value-Oriented Retail Strategy Planning Value with just a price perspective Benefits and prices Providing value-enhanced services for which customers do not want or will not pay extra E.g. green/environmentally responsible? Competing in the wrong value/price segment Mervyn’s, Borders, Circuit City, Blockbuster?? Believing augmented elements alone create value Customers must value these elements Paying lip service to customer service Deliver what you promised...
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