Principles of Marketing, Notes, Week7
Principles of Marketing, Notes, Week7 MKT 3310-003
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This 3 page Class Notes was uploaded by Johanna Glaser on Tuesday October 4, 2016. The Class Notes belongs to MKT 3310-003 at University of Nebraska at Omaha taught by Amy Rodie in Fall 2016. Since its upload, it has received 11 views.
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Date Created: 10/04/16
Week 7 Highlight- Important concepts Supply Chains (SC) 1. A channel where members consider themselves long-term partners 2. SC success= goal of all members 3. Each SC member works to Optimize customer satisfaction by: Minimizing cost (inefficiencies) Increasing utility via product in right place at the right time 4. SC compete with other SCs Rather than channel member vs. similar channel members (Walmart vs. Sears) Ex. Tupperware Rubberaid Rubberm aid Fleming Tuperware Walmart Lady Wolners Consumer Consume Consume r r 5. Goal: improve profits for ALL members of that SC 6. SCs are recent “technology” made it possible 7. Requires each member to Understand each member’s roles Cooperate, negotiate, give-and-take 8. Includes: Traditional channel members (Producer, wholesaler, retailer) Others (warehouses, transportation, banks) 9. All SC are Channels 10. All Channels are NOT SCs Issues in SC Management Channel Leader (or “captain”) Organize & controls the channel Must have Channel Power Due to size, $$, consumer demand…. Walmart, Apple, Netflix Channel Cooperation Members mutually dependent for success Same objectives Good communication throughout Understand give-and-take Channel Conflict Differ in “means” to an end Inappropriate/ incorrect expectations Uninformed Take unfair advantage of other members Channel Integration Channel members purchase or take over members’ function Chapter 14: Retailing “Retailing” All transactions in which the BUYER consumes the product for personal or home use “Retailer” A firm that buys products to resell to end-users/ ultimate consumers Retailing Creates place/time/possession utility for customers Retailer can add (or subtract) value to the product Major Types of Retail Stores 1. General Merchandise Retailers Department stores (Von Maur, Dillard’s) Discount Stores (Kohl’s) Convenience Stores (Gas stations, Casey’s, QT) Supermarket (grocery store) Superstores (Walmart, Target) Hypermarket (HUGE mall/Walmart like store) Warehouse Clubs (Sam’s Club, Costco) Warehouse Showrooms (NE Furniture Mart) 2. Specialty Retailers Traditional Specialty Retailers Specialize in narrow, deep product line Ex. Pottery Barn, Borsheims, Pier 1, Batteries Plus Bulbs, Stereo West Non-Store Retailing 1. Direct Marketing Retailer uses telephone or non-personal media to communicate Customers purchase using telephone or non-personal media Catalog Direct Response Telemarketing Home Shopping (TV) Online 2. Direct Selling: Non-store, face-to-face sales, presentations (Girl Scout Cookies) 3. Automatic Vending Impersonal Strategic Issues in Retailing 1. Location, Location, Location!!!!! 2. Retail positioning (done by retailer) Select a TM Use the Marketing Mix to differentiate retail brand from competitors in TM’s mind Brands compare to each other Best, worst, cheapest, most convenient Most comfortable, dirtiest 3. Store Image: Picture in TM’s mind Functional & psychological Based on Store environment Quality: products, service ALSO: word-of-mouth, social media, personal experiences 4. Atmospherics: Physical elements in a retailer’s design That appeal to emotions Help set the image in the TM’s mind Help “position” the retailer in the TM’s mind Encourage TM to patronize; buy Exterior atmospherics (parking lot, entrance) Internal atmospherics (inside, light, flow, etc.)
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