Basic Retailing Exam 1 cont 2

Basic Retailing Exam 1 cont 2 - Retail mix o Retail mix is...

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Retail mix o Retail mix is the tactical marketing frame to create a specific shopping experience at the point of sales. o The mix of variables, including location, merchandise, communications, price, services, physical attributes and personnel, which form the overall strategic marketing components of retailing. Positioning map o There is a link between price and service (high price equals excellent service). Page 71 Differentiation o What sets a retailer apart from the competition (location, service, store design, price) Price dangerous because price is easily copied Selection physical differences in the product, variety in merchandise Outstanding service After purchase satisfaction taking care of the customer after purchase has been made Location is it convenient, accessible, and/or unique? Having merchandise in stock for customers expectations Retail institutions by ownership o Independent: an independent retailer owns one retail unit. The majority are run by owners and their families. It is easy to entry; intense competition; high risk, high reward; you have to be unique o Chain: multiple store units under common ownership; engaged in centralized
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This note was uploaded on 03/16/2012 for the course MKTG 4300 taught by Professor Mariakalamas during the Spring '12 term at Kennesaw.

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Basic Retailing Exam 1 cont 2 - Retail mix o Retail mix is...

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