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Summary lecture 2 Retail Marketing
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Summary of the lectures fall 2016. Not considered grammar and sentence structure. Also some pictures of slides included.
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HC 2 – Retail Marketing 12-09-20161st Part (4 articles)
Customer Journey
5 entities (Herb Sorensen, 2011)
- Retailer
- Supplier
- Products
- Customer shopper
- Store
Retailing = a service instead of a product. Service related to people and
surroundings around service.
History of retailing
1. History Retailing: revolution 1 department store
- Department stores (broad assortment in one store)
o Gives women an opportunity to save time and do other jobs.
2. History retailing: Revolution 2 self-service
History retailing: Electronics, Scanning
- We are now in here.
- Parts of the processes are taking over people jobs (less personnel)
4. History retailing revolution 3 online shopping
- Online is going up
- A lot of data going on track customer in the Customer journey and by this
online vs offline becomes more complicated.
So really know your customer.
Now in the age of the customer.
Difficult to target customers because customers are moving from different
channels.
Afterwards buying becomes more important: reviews e.g.
We see: Battle for the shopper
- Retailers become more powerful (earlier the manufacturers)
- Retailers become brands themselves
- Market share increase of private labels (more exclusive than A brands)
- Market share increase of online channels
Shopper marketing (marketing centered at the shopper (gevolg van
bovenstaande)
The next 3 lectures:
1. Costumer journey (this lecture)
2. Who is the shopper
3. How does she shop in-store
- Still same customer, but have to see which channels works in a certain way.
Customer journey = Put themselves in customer shoes to see what is workings,
what not and what needs to be changed.
What do we want from shoppers?
e.g.: IKEA: conversion?
o What metric should be our goal? Experience vs Sales
o Brand awareness is good but how get that to spend money?
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