YETI & its competitors - Answer-Even though there are competitors in the market, Yeti is confident in its
overall brand
What do these companies have in common?
Michael Kors, Justice, Zulily, Coach, Burberry, Macy's & JC Penny - Answer-All of these companies are
getting sued because of a pricing...
MAR3231 FSU Hopkins Exam 4 YETI & its competitors - Answer -Even though there are competitors in the market, Yeti is confident in its overall brand What do these companies have in common? Michael Kors, Justice, Zulily, Coach, Burberry, Macy's & JC Penny - Answer -All of these companies are getting sued because of a pricing issue - Regards outlet pricing Outlet Model of Retail - Answer -Used to send excess inventory and flawed inventory to outlet stores to be sold at discounted prices Current Outlet Model of Retail - Answer -- Retailers start making a separate line for outlet stores to make more money - Use Anchoring pricing strategy Anchoring Pricing Strategy - Answer -Show the full price crossed out above the discounted price → makes consumers more likely to make a purchase Problem with the Current Outlet Model of Retail - Answer -- Products are never meant to be sold at the "full price" - Has led to class -action lawsuits with these retailers - Pricing is misleading 3 Pricing Options for Retailers - Answer -1. Discount Orientation 2. At -the-market Orientation 3. Upscale Orientation Discount Orientation - Answer -- Low prices as a competitive advantage - Consumers looking for the best deal → driven by PRICE Discount Orientation: Amazon Example - Answer -- Is a THREAT to many retailers, particularly discounters - Consumers trust that Amazon has the best deal, is the most convenient, and is the cheapest option Why is Amazon a threat to discount retailers? - Answer -- Selection, brand power, supply clain, and distribution - Consumer behavior is already established - Consumers enjoy shopping online vs. in -store - Shipping capabilities (Amazon Prime) - Far more advanced than competitors Other Discount Orientation Examples - Answer -Dollar General and TJ Maxx ________ is the competitive advantage between Amazon and Walmart. - Answer -PRICE Discount Orientation: Walmart Example - Answer -- Walmart is trying to buy a lot of companies to get into new markets and further develop market share - Currently having a hard time moving online At-the-market Orientation - Answer -- Average prices - Not the cheapest, not the premium How to win with At -the-market Orientation - Answer -- Do not compete on price (can be damaging) - Compete on one of the other 4 P's - Experience, exclusive products and brands, customer service/expertise - One-stop -shop Example of At -the-market Orientation - Answer -Home Depot & Lowe's Upscale Orientation - Answer -Higher or highest prices What are you paying for with Upscale Orientation? - Answer -- Brand name - Recognition - Status - Exclusivity (ex: limited time offers, collaborations)
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper ACADEMICMATERIALS. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €7,79. Je zit daarna nergens aan vast.
