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Principles of Marketing, Notes, Week7

by: Johanna Glaser

Principles of Marketing, Notes, Week7 MKT 3310-003

Marketplace > University of Nebraska at Omaha > MKT 3310-003 > Principles of Marketing Notes Week7
Johanna Glaser
GPA 3.717

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Last of the notes before test on Tuesday, October 11
Principles of Marketing
Amy Rodie
Class Notes
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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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