Summary
Summary lecture 6 Retail Marketing
- Course
- Institution
Summary of the lectures fall 2016. Not considered grammar and sentence structure. Also some pictures of slides included.
[Show more]
Seller
Follow
Jasmijn1993
Reviews received
Content preview
HC 6 – Retail Marketing 17-10-216Literature contradicting each other
- Assortment = number of items carried by a retailer
o Width of assortment: the number of categories you offer (e.g. Aldi,
can also buy clothes and computers. So very breath)
o Depth of assortment: a lot of choices in the category (the more the
deeper)
General assumption more = better.
- Marketing theory
o Segmented market
o Variety seeking
- Psychological theory
o Intrinsic motivation and life satisfaction
o Perceived behavioral control
Barry Swchwartz
- Official dogma = more choice, more freedom, more satisfaction
- Secret to happiness = lower expectations
- Why more choice is bad:
1. Could have been better (alternative choice)
2. Opportunity costs
3. Escalations of expectations
- Choice overload make people miserable:
1. Regret & anticipated regret (al the alternatives)
2. Opportunity costs (standards go up, less satisfied)
3. Escalation of expectations (less satisfied with result)
4. Self-blame (don’t meet high standards)
- Pareto improving move = we luckier with less choice, give the third country
more choice.
Attraction vs. conversion (example)
- Variety of jams
- See CP.
- Attraction people stop and watch the jam assortment
- Conversion actually buy
Findings: Extent assortment, larger % stops, but comes to conversion less %.
Briesch, et al. (2009)
- Assortment is more important price level & convenience right
assortment is important to have a lot of customer in your store
- If you have enough numbers of brand = positive (breath), but many SKU’s
per brand, then is negative (To depth)
- Effect of assortment show more heterogeneity differs per situation and
makes it very complex to pick the right assortment (e.g. AH unique
assortment per location, so adapt local situation)
Two sides of the assortment medal
- Attraction (+)
- Conversion (-)
The ‘more is better’ assumption is criticized
- Too much lower purchase + lower satisfaction
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Jasmijn1993. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.21. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now