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MKT320 - Cases and Videos for Exam 1

by: Giulia Dias Roncoletta

MKT320 - Cases and Videos for Exam 1 MKT 320

Marketplace > University of Miami > Marketing > MKT 320 > MKT320 Cases and Videos for Exam 1
Giulia Dias Roncoletta
GPA 3.5
MKT 320 - Retailing
Ian Scharf

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About this Document

Here are the class notes for the homework cases and in class videos.
MKT 320 - Retailing
Ian Scharf
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This 6 page Bundle was uploaded by Giulia Dias Roncoletta on Sunday September 20, 2015. The Bundle belongs to MKT 320 at University of Miami taught by Ian Scharf in Summer 2015. Since its upload, it has received 77 views. For similar materials see MKT 320 - Retailing in Marketing at University of Miami.


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Date Created: 09/20/15
BuildABear Case and Video 0 Is it a fad In 1970s the purchasing power of ages 612 doubled In 1980s the purchasing power of ages 612 doubled In 1990s the purchasing power of ages 612 tripled People pay more for products that have emotional attachment eg jewelry perfume Fad a large amount of sales for a short period of time 0 There will always be a new young generation and as the older generation fades out it will pass down to younger kids siblings 0 Target Customer 0 Children ages 612 but has expanded because the generation didn t stop coming 0 Repeat Visit Strategies 0 Frequent shopping programs coupons 0 Update merchandise so that the customers want new things 0 Events birthdays for both the bear and the customer 0 Human Resource Management is Critical 0 Sales representatives must be child friendly and patient 0000 O Yum Brands Video Taco Bell Pizza Hut KFC Lon ohn Silvers AampW All American Food 0 Benefits of the 3 Major Restaurant Segments 0 Fine Dining eg steak houses higher price point full service dining experience 0 Casual Family Dining eg Olive Garden more relaxed less service moderate prices 0 Quick Service eg McDonalds fast great value reasonable prices 0 How Think Outside the Bunquot Reinforces Taco Bell 0 Reminds you that it is Mexican inspired and uses humor 0 Employee Satisfaction Measures 0 One system is in place for all restaurants to train employees and then a rating system is in place 0 CoBranding O MultiBrandingCoBranding combines two of Yum Brands restaurants into one space for convenience and value to market to several submarkets O This is the biggest innovation since the drivethru 0 Preferred 6 to 1 by customers over single branding 0 Growth Strategy Recommendations 0 Include healthy foods 0 Breakfast items 0 International expansion Retailing In India 0 Appeal of Hypermarkets to Consumers convenience comfort and sanitary reasons 0 There is a gross disparity of income in India 0 High growth rate 8 0 Neighborhood markets known as karans have a high waste percentage 50 of products aren t sold 0 Hypermarkets provide a one stop shop convenient displays air conditioning and cleanliness 0 500 Billion good or bad 0 The country wants to protect local businesses 0 Government invests in its own success with 500 billion to improve the infrastructure 0 Changes in the Indian Consumer o 54 of Indian population is under the age of 25 eBay and Online Auctions Video 0 Classification RetailerVendorMall Operator 0 Similar to a malloperator that facilitates between buyers and sellers 0 Success 0 Removed from ugly aspects of retail eg overhead distribution and inventory 0 Competition Amazon and Yahoo 0 Law of externalities says when a total market expands the market leader eventually gets the majority of the growth 0 Fraud 0 Fraud is not the legal responsibility for eBay but could harm their reputation 0 Collectibles 0 Collectibles are hard to price and hard to find Airport Retailing 0 Facts 3 million passengers daily in the US 1 million employees 6 billion a year 0 Features 0 Large group of shoppers with disposable incomes Captive audience Higher rents I forgotquot merchandise Longer hours Tighter security OOOOO Laduree Case Census 0 Target Market and Retail Strategy in US 0 High income well educated 0 Fashion forward buyers 0 Privately owned in the US 0 Secret recipe Key Steps to Enter US Own vs Franchise 0 Franchise in high risk places currency uctuations and political instability 0 Some countries require franchises o Franchises know location better Ideal Formats and Locations in US 0 Specialty store 0 Pop up store 0 Upscale malls 0 Stores within upscale department stores 0 Merchandised kiosks in an airport Online 0 Could ship from Switzerland and open a pastry lab in the US 0 Could ship from Switzerland and open a pastry lab in the US Baby Boomers 0 Who are they 19461964 about 75 million people had a lot of babies to cause a spike in baby products everyday in US 10000 people turn 65 years old individualists 75 are white non hispanic value leisure are unified by the fact that they all went through the Vietnam War and Civil Rights movement 0 Characteristics individualistic leisure time is important self sufficient concerned with maintaining youth 0 How will their aging affect retailers Health care pharmaceuticals plastic surgery nursing homes travel tourism and financial advisors retirement planning are all affected 0 Strategies sell nostalgia sell natural products first generation to recognize environment sell youth and fitness 0 Generation X 0 Who are they 19651978 about 1819 million people decrease in birth rate diverse latchkey kid both parents work first generation raised on advertising less education by 1 year of college than the Boomers 0 Strategies do not rush them to buy present a lot of options and product information use technology when presenting 0 Generation Y Staples 0 Who are they 19791994 about 50 million people respike in birthrate 67 white nonhispanic but by 2050 under 50 will be white nonhispanic minority unified by the fact that the Internet makes the world smaller green energy efficient generation will be wealthiest generation 0 Strategies Get young people involved in the store both through work and experience conscious of environment honest in advertising get stores involved in community service tie in sports and music Factors in multichannel success 0 Existing experience distribution infrastructure high customer service leads to strong branding understanding of target market being aware of cannibalism eat your own sales Advantages and Disadvantages of kiosks 0 Advantages more SKU options so you can reduce store inventory 0 Disadvantages convince customers to use kiosk rather than go to another retailer sales people don t get commission from transaction SKU s in stores vs internet 0 You determine if an item is sold online or in the store by complexity of the item popularity of the item profitability Staples Copy and Print Centers 0 Allows customers to order print jobs and still get help from instore specialists can be adapted to be small enough to be placed away from the stores Potbelly Sandwich Works Video 0 4 PS 0 Product made to order sandwiches 0 Price one price for all sandwiches 0 Place average 2200 sq ft 0 Promotion event promotions national sandwich day 0 Growth Strategy 0 Market development and market expansion 0 One location in a city and then look to grow if it is successful 0 Positioning Strategy 0 Young urban professionals who want quick tasty food at a good price 0 External Opportunities 0 Places where people are time compressed urban areas 0 Take part in urban redevelopment since some urban areas are quotroughquot 0 External Threats O Committing to urban redevelopment makes you really involved take on the problems of the urban area Pet Economy Video 0 Why Americans Spend So Much on Pets 0 Americans spend 41 billion on pets per year and that s expect to increase to 52 billion per year in the next 5 years 0 Many people look at animals like members of the family 0 Many people are emotionally attached to pets 0 Future Products and Services 0 Pet foods that look like human snacks o Kennels are being remarketed as pet hotels 0 Dog spas 0 Dog poop pick up services Harrod s of London 0 Success in Comparison to Others 0 Unique group of customers high net worth customers 0 Runs the network itself inhouse O Bundles advertising with other promotional opportunities 0 Both capability and incentive to maker sure that its working properly 0 Consumer Product Manufacturers Want to Advertise 0 Upscale audience is difficult to reach and look for more of an entertainment experience 0 Positives of Offering Digital Network 0 Extra advertising revenue 0 Additional sales 0 Negatives of Offering Digital Network 0 Not for everyone 0 Store image must be consistent with advertising McDonalds in India Video 0 Think Global 0 Brand name 0 Reputation 0 Information and distribution systems 0 Buying power 0 Act Locally 0 Merchandise 0 Sourcing 0 Locations 0 Pricing o Adapt Into Indian Marketplace 0 Sensitive to dietary restrictions 0 Developed an infrastructure in India 0 Use local suppliers and local managers rather than staffing with Americans Target 0 Role of Consumer Expectations 0 Customers understand that Target will offer limited time partnerships with top designers which creates senses of urgency exclusivity and excitement 0 Models 0 New Model put storewithinastore which benefits both companies through brand recognition and some cases have complimentary goals 0 Ability to Attract Top Designers as Partners 0 Target shoppers expect new designer brands and so the designers are attracted to Target


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