Term
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Definition
Firm performs more than one set of activities in the channel
Example) Retailer invests in wholesaling AB owns Barley Fields |
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Term
|
Definition
Retail performs distribution and manufacturing activities
Example) Great Value and Walmart |
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Term
|
Definition
Manufacturers undertake retailing activities
Example) Ralph Lauren operates its own retailers |
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Term
| How do retailers add value? |
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Definition
Provide assortment
Breaking Bulk
Hold inventory
Offer Services |
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Term
| Retail Strategy should identify.... |
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Definition
1. Target Market
2. The product and service mix (retail mix)
3. A long-term, sustainable comparative advantage
-Walmart = low prices |
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Term
|
Definition
| Location, customer service, merchandise assortment, communication mix, pricing, store design and display |
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Term
| Service Vs. Merchandise Retailers |
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Definition
-Intangibility
-Simultaneous Production and Delivery
-Perishability
-Inconsistency of the offering |
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Term
|
Definition
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Term
| Simultaneous Production and Delivery |
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Definition
| Create and deliver at the same time, quality control |
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Term
|
Definition
| Cannot save, store, or resell (airplane seat), cannot go back in time to sell more hotel rooms |
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Term
| Inconsistency of the offering |
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Definition
| no two services identical |
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Term
| Reasons for multichannel retailing |
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Definition
Overcome limitations of existing format
Expand market
Provide services more cost-efficiently
Leverage existing assets
Develop customer behavior rights |
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Term
| If you can become a multichannel retailer: |
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Definition
| you can earn 10X the money than if they interact with only one or some of the channels |
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Term
| Multiattribute attitude model |
|
Definition
Customers see a retailer as a collection of attributes and characteristics
Predict how a customer will evaluate a retailer based on
-Performance on relevant attributes
-Importance of those attributes to the customer |
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|
Term
|
Definition
Market Penetration
Market expansion
format development
diversification |
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Term
|
Definition
| More stores, more hours, better execution |
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Term
|
Definition
| Dunkin' donuts beyond the NE corner of the US |
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Term
|
Definition
| Multichannel, Tesco, Tesco Express |
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Term
|
Definition
| New target, new format (Darden: Olive Garden, Red Lobster, Longhorn Steakhouse) |
|
|
Term
|
Definition
Firm performs more than one set of activities in the channel
Example) Retailer invests in wholesaling AB owns Barley Fields |
|
|
Term
|
Definition
Retail performs distribution and manufacturing activities
Example) Great Value and Walmart |
|
|
Term
|
Definition
Manufacturers undertake retailing activities
Example) Ralph Lauren operates its own retailers |
|
|
Term
| How do retailers add value? |
|
Definition
Provide assortment
Breaking Bulk
Hold inventory
Offer Services |
|
|
Term
| Retail Strategy should identify.... |
|
Definition
1. Target Market
2. The product and service mix (retail mix)
3. A long-term, sustainable comparative advantage
-Walmart = low prices |
|
|
Term
|
Definition
| Location, customer service, merchandise assortment, communication mix, pricing, store design and display |
|
|
Term
| Service Vs. Merchandise Retailers |
|
Definition
-Intangibility
-Simultaneous Production and Delivery
-Perishability
-Inconsistency of the offering |
|
|
Term
|
Definition
|
|
Term
| Simultaneous Production and Delivery |
|
Definition
| Create and deliver at the same time, quality control |
|
|
Term
|
Definition
| Cannot save, store, or resell (airplane seat), cannot go back in time to sell more hotel rooms |
|
|
Term
| Inconsistency of the offering |
|
Definition
| no two services identical |
|
|
Term
| Reasons for multichannel retailing |
|
Definition
Overcome limitations of existing format
Expand market
Provide services more cost-efficiently
Leverage existing assets
Develop customer behavior rights |
|
|
Term
| If you can become a multichannel retailer: |
|
Definition
| you can earn 10X the money than if they interact with only one or some of the channels |
|
|
Term
| Multiattribute attitude model |
|
Definition
Customers see a retailer as a collection of attributes and characteristics
Predict how a customer will evaluate a retailer based on
-Performance on relevant attributes
-Importance of those attributes to the customer |
|
|
Term
|
Definition
Market Penetration
Market expansion
format development
diversification |
|
|
Term
|
Definition
| More stores, more hours, better execution |
|
|
Term
|
Definition
| Dunkin' donuts beyond the NE corner of the US |
|
|
Term
|
Definition
| Multichannel, Tesco, Tesco Express |
|
|
Term
|
Definition
| New target, new format (Darden: Olive Garden, Red Lobster, Longhorn Steakhouse) |
|
|
