Lecture Summary for Retail & Omnichannel Marketing (All Lectures)
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Course
Retail & Omnichannel Marketing
Institution
Rijksuniversiteit Groningen (RuG)
The best lecture summary for Retail & Omnichannel Marketing for MADS and Marketing Management, it includes: All Lectures. Enhanced with a dynamic table of contents and meticulous organization for readability and easy studying. 100% of profit from this summary is donated to local Groningen NGOs, as ...
N o t e : G u e s t l e c t u r e s o m i t t e d d u e t o p o s s i b l e i r r e l e va n c e & c o n f i d e n t i a l i t y .
E n h a n c e d w i t h a d y n a m ic t a b le o f c o n t e n t s .
, MADS MADLAD |2
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Table of Contents
Week 1............................................................................................................... 7
Lecture 1: Introduction & The Tale of Retail ................................................... 7
What is retail?.............................................................................................. 7
The Tale of Retail ......................................................................................... 7
1. Agrarian economy .................................................................................... 7
2. Industrial revolution ................................................................................ 7
3. Service revolution .................................................................................... 8
4. Information and Network Revolution ...................................................... 8
From retail format to Eco-system ................................................................ 9
From trust in the firm to trust in the use ..................................................... 9
Lecture 2: The Customer Journey ................................................................... 9
5 Entities of Retailing (traditionally)............................................................. 9
What do we want from our shoppers? ...................................................... 10
Retailing, then and now ............................................................................. 10
Battle for the shopper: Shopper Marketing ............................................... 10
Customer Experience & Journey ................................................................ 11
Mapping the Customer Journey – 6 insights .............................................. 11
Customer Journey Perspectives: Retailer vs. Shopper ............................... 12
Omni-channel Customer Journey............................................................... 12
Types of Channels – Offline vs. Online ....................................................... 13
Touch Point Elements ................................................................................ 14
Store Environment ..................................................................................... 14
Journey-based Segments ........................................................................... 15
Omni-channel Management ...................................................................... 15
Long tail vs. Short tail ................................................................................. 16
Impact of Digital Transformation ............................................................... 16
Week 2............................................................................................................. 17
Lecture 3: Shopping Motivations & Shopper Segmentation.......................... 17
Recap: Customer Journey .......................................................................... 17
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Showrooming ............................................................................................ 17
Webrooming.............................................................................................. 17
Reasons for Consumer Shifting to Online Shopping ................................... 18
Consumer Buying Process: Shopper........................................................... 18
Shopper Motivations: Why do we buy? ..................................................... 19
Hedonic vs. Utilitarian Consumption (Motivation) ..................................... 19
Shopper Segmentation: Motivation-based Clusters ................................... 20
Shopper Segmentation: Journey-based Clusters ........................................ 21
In-store Shopping: Impulse vs. Unplanned Buying ..................................... 22
In-store decision making ............................................................................ 24
Precursors to Unplanned Purchasing ......................................................... 25
Shop Marketing Model: ............................................................................. 26
Lecture 4: Samir Selimi Guest Lecture........................................................... 26
Single- vs. Multi- vs. Cross- vs. Omni-Channel ............................................ 26
Everything Digital? ..................................................................................... 26
Omni-channel in Practice: Outside-In ........................................................ 27
Week 4............................................................................................................. 30
Lecture 5: The Basics of Generating Sales in Retail ....................................... 30
Brand/supplier’s perspective ..................................................................... 30
Retailer’s perspective ................................................................................ 30
Market perspective.................................................................................... 32
Category Management .............................................................................. 33
Assortment ................................................................................................ 35
Lecture 6: Guest lecture................................................................................ 38
Omitted ..................................................................................................... 38
Week 5............................................................................................................. 39
Lecture 7: Pricing & Promotions ................................................................... 39
Factors that affect Price ............................................................................. 39
Tactics to deal with price increases............................................................ 39
Store image & Price perception ................................................................. 39
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Price tracking & Price tactics ...................................................................... 40
Price elasticity ............................................................................................ 40
3 Sources of short-term Sales increase: Brand switching, category incidence,
purchase quantity ...................................................................................... 41
Wrap up ..................................................................................................... 41
Week 7............................................................................................................. 42
Lecture 8: Sustainability in Retailing ............................................................. 42
New customers, new journeys, and a new P in Marketing ......................... 42
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Week 1
Lecture 1: Introduction & The Tale of Retail
What is retail?
Retail is the sale of different goods and services to customers with the intention
to make a profit.
• Always interacting with the customer (difference with B2B)
• Always interested in profit first
• What makes retailing sustainable? Is it just money – no
The Tale of Retail
1. Agrarian economy
The Agrarian economy, the time when mechanization happened.
• Retail Developments
o Potatoes, gran and straw cardboard initiated in area of Groningen
o First retail chain – De Gruyter
o First warehouse/dept. store – Winkel van Sinkel
o First confection (sweets) store – C&A
2. Industrial revolution
Beginnings of mass-production.
• Retail Developments
o Availability of affordable, high-quality goods
▪ Upscale dept. store – Hirsch
▪ Vroom & Dreesmann
▪ Verkade (biscuits) introduces franchising
• They called it star stores
• Very progressive and innovative with customer loyalty
programs (distributed pictures to collect in order to
complete an album and unlock the story)
▪ HEMA
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• Introduced unity-prizing, everything in the store
costed 0.25 or 0.50 cents
o Confectionary chains initiated the birth of mass-producing clothing
3. Service revolution
Spurred the growth of self-service concepts, travelling industry, entertainment,
out of home dining
• Self-service concepts and data marketing
o V&D Customer media: the first to introduce the magazine as a
marketing tool and customer loyalty generator.
o FEBO automatiek: emergence of vending machines
o AH adopts the US approach: introduced barcodes, baskets
o Dirk van den Broek: incorporated a travel agency through offering
a voucher to people who spent X amount, which give discounted
travel to Italy.
o Kruidvat: in 1975 there was a breakthrough in the pharmacy
industry
o Bakker Bart: introduced ready-made sandwiches (take-home
dining)
o Praxis: one of the first do-it-yourself stores
4. Information and Network Revolution
Digitization and connectedness define this revolution.
• Entertainment (movies, music, gaming) and traveling taken over by online
• Pinduoduo: combining social media and ecommerce together
o Better prices and less waste thanks to seeing directly what
customers are most interested in.
• Benefit of online + offline (O&O): higher revenue
• Retail developments
o Online & Offline (O&O) integration
o Seamless experience
o Information provision
o Order automation
o Autonomous delivery
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o Customization, Hyper Personalization
o AI powered product design
o Spatial internet
From retail format to Eco-system
Combining many aspects of shopping and social into one eco-system.
• WeChat: combines many digital functions of social media in one function
From trust in the firm to trust in the use
Nowadays shoppers are influenced by other shoppers or people in general,
more than the firm’s marketing efforts.
• Influencer Marketing
• Review Marketing
• Co-creation
Lecture 2: The Customer Journey
5 Entities of Retailing (traditionally)
o Retailer -> Store
o Supplier -> Product
o Customer/Shopper
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What do we want from our shoppers?
Getting traffic to a section is only half the battle.
• Good merchandising will yield high DoubleConversion™:
o Stop the traffic (shopper)
o Converting the shopper to a buyer
Retailing, then and now
Battle for the shopper: Shopper Marketing
Shopper Marketing is the combination of optimizing the customer journey,
knowing your shopper and knowing how they shop. You optimize everything
about the experience.
• Retailers are brands themselves and are becoming more powerful
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