Retailing has changed over the years. Why? The presence of the internet has not only created a vast convenience for the customer, but the customer no longer must deal with a terrible customer experience! For this marketing case, pick one of your favorite retailers that you are familiar with and frequently shop with. We will delve into their business, and hopefully how they have evolved and built their business in order to compete in the new retailing world.
• Describe what retailing is. What does retailing do? Where are they in the supply chain?
• What are the 6 P’s of retailing? Do not list them out- Fully describe each one. This is where you exhibit your knowledge. What are the additional 2 P’s specific to the retail setting? Within presentation, what are the two types of presentation that retailers must concern themselves with? How can personnel affect a retailer?
• Research a retailer that you frequent. Describe both their industry and their business. Who are their competitors? Do they have an online presence? What do they do online? What do they do in-person to draw customers in the door? What is your retailer’s value-add? Why? Discuss and elaborate the business impact from in-person sales as compared to online sales.
• Describe each of the 6 P’s for your retailer. How have these evolved over the years with the added steep competition of online shopping? How has the retailer improved their customer experience? Do you shop with this retailer online, in-person, or both? When do you pick one over the other?
The assignment should be a minimum of 2 pages in order to fully explain the concepts. A good grade is dependent upon a thorough and well-articulated analysis.
Below are the concepts to understand for Ch. 17:
Retailing involves getting the product or service in the hands of the end-user. Where are retailers in the supply chain?
What do retailers do to sell a product?
What are the additional 2 P’s (on top of the traditional 4 P’s of the marketing strategy) involved in retailing?
What is the difference between atmosphere and layout in terms of presentation?
How does the lack of an additional online presence affect retailers? What are the impacts that prevent them from maximizing their profitability?
How does the lack of a brick-and-mortar location affect online retailers?
What must the new retail strategy entail for brick-and-mortar, due to the enormous amount of online sales, in order for them to draw customers?
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