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Summary lecture 1 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 1 – Retail Marketing 05-09-2016Retailing is the set of activities that adds value to the products and services sold to
customer’s fort heir personal or family use.
- End-user
- B-to-C focus (no wholesaler, so no B2B)
Alternative definition: Retailing is the fine art of separating consumers from their
money (want consumers to spend money, if you are not good at this, then you will go
bankrupt).
Retail marketing = Activities that intent to stimulate selling products and/or services
directly to consumers through channels, such as stores, websites, vending machines
or catalogues.
- In a variety of channels.
Main retail marketing decisions:
- Retail strategy: Target market selection & positioning, retail branding,
channel strategy (omni channel)
- Retail Tactics: Assortment, pricing & promotions, advertising, store
presentation, employees/customer service (more classic)
You can ask consumers, but that is all rational. But 95% of the consumer actions is
unconscious and irrational. So they can’t explain this.
Main functions of retail companies
- Retailers create value by:
o Providing an assortment of products and services
E.g.: supermarket offers over 20.000 articles of more than 500
manufacturers.
o Holding inventory (Important to keep stock)
E.g.: Retailer holds stock that are immediately available for
consumer.
o Breaking bulk
E.g.: A manufacturer offers large quantities, a retailer offers
small quantities (e.g. toilet paper) have to do this on your
own as consumer, will be difficult to buy the right quantities
o Providing services
E.g.: credit facilitates, info about product/service by website or
sales people, pay by credit, bring product at home, money-
back guarantee etc.
Gross margin is what retailers earn from selling products with markup. AH has
about 20% gross margin. Other industries much higher. The gross margin is about
50%. No turnover etc.
- Supermarket employee costs about 8% of sales
- V&D is about 33% of sales so gross margin has to be much higher to
survive in the end.
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