Final

Question 1

To communicate a brand:

Answer 1

Store layout, design, web design, customer service, promotion

Question 2

Push vs. Pull strategy

Answer 2

Pushes products through distribution channels (through promotion) vs. Persuading customers to shop there through promotions of products (needs whole org to participate)

Question 3

Advertising and AIDA:

Answer 3

Promotional communication via paid-for outlets. Attention > Interest > Desire > Action (otherwise advertising is wasted). Can be through: print, digital (radio- can be specified but no visual aid), broadcast/film, out of home (transport)

Question 4

Public relations (can be gifting to celebs):

Answer 4

the medium in which the information is held is non-paid for, can be through press and other media during product launches etc. (but have to employ PR specialists?)

Question 5

Sponsorship and direct marketing:

Answer 5

e.g. sports/ educational initiatives related to them = gain exposure, but must be careful. Direct: e.g. via databases and loyalty cards. Social/online: paid/earned/owned media

Question 6

Types of sales promotions:

Answer 6

Coupons, competitions, samples, POP displays, promotional event, seasonal sales, refund vouchers

Question 7

Retail locations and their importance (lease or own?):

Answer 7

Mixture of marketing and geographic approaches. How many and where- right store size? as they are expensive, close to customers/suppliers?

Question 8

Hierarchical expansion and the 6 r’s:

Answer 8

Right point in the retail hierarchy, e.g. in more prestigious stores. Once portfolio is done, must constantly asses: 6 R’s: roll out, relocate, refit, remerchandise, refascia, rationalise (closing stores)

Question 9

Where to locate?

Answer 9

Should match location with customer need and motivation. Catchment area, population, compeititon, threshold of a store, accessibility (pedestrian flows/car parking), must PLAN (permission?)

Question 10

Brand image: Interior and exterior design:

Answer 10

Windows as adverts (brand image, can be themed), store entrances, fascia vs. interior: non-permeant, visual merchandising entices customers and reduces need for staff, products placed systematcally where purchase decisions are made.

Question 11

Retail atmosphere:

Answer 11

Visual (colours/brightness), Aural (sounds), Olfactory (aromas e.g. textiles, smell), Tactile. These have immediate and long-term outcomes.

Question 12

E-tailers use..

Answer 12

non-store environment through visual and aural at a low cost, needs to be consistent throughout their channels= should lower barriers to purchasing

Question 13

Retail customer service:

Answer 13

The interface between the customer and the service provider, as well as the department.

Question 14

Service and service encounter:

Answer 14

A process, which transforms inputs such as labour, materials, skills into products. (they are intagible, flexible, simultaneous production/consumption, customer participation) = perception, all about perceived service quality. (e-tailers can use call centres)

Question 15

The need for a retail service culture:

Answer 15

Can evolve through rewards, leadership, employees taking pride, customer feedback, error = opportunity for learning

Question 16

types of online retailing (relevance = engagement)

Answer 16

‘pureplay’ retailers, mail order (catelouges, now online), Direct marketing (through a form of media, use data, must involve a response and relationships, e.g. tv shopping) Direct selling (niche market, now down through social media/emails/newsletters/

Question 17

e-tailing vs. multi-channel retailing:

Answer 17

direct to customer vs through intermediaries

Question 18

People use:

Answer 18

Shops as showrooms, new retailing models (e.g auctions: eBay). Engagement: able to personalise, customise products (creativity and flexibility)

Question 19

The long tail effect:

Answer 19

demonstrates that consumers continue to buy small quantities of products for a long time after their launch, across a wide range of goods

Question 20

New technology:

Answer 20

Companies must constantly communicate with consumers, analyse and explain their behaviour, and respond to changing needs, must consider human-computer interaction in stores (hollograohics, 3D modelling, sensory experience, use of the store website

Question 21

Online retailing needs:

Answer 21

Both speedy execution of orders and reliable delivery

Question 22

Some legislation:

Answer 22

Sale of goods act (merchantable quality), Trade descriptions act (e.g. photos can be edited online to make them look better), safety laws etc. (pricing = fair-trade), planning regulations, Employment law, intellectual property law

Question 23

4 main concerns for grocery shoppers:

Answer 23

global/local sourcing, product heritage, animal/human rights and marketing communications

Question 24

Sustainability law:

Answer 24

Retailers should use CSR, are in a unique position to effect sustainability as they have an influence on supply chain and customers

Question 25

International retailing:

Answer 25

The management of retail operations in markets which are different from each other in their regulation, economic development, social conditions cultural environment and retail structures. Usually starts between similar socio-economic countries and expands to less developed ones

Question 26

Internationalisation (transfer of knowledge, technology, management practices):

Answer 26

Choice of location and entry location, push factors (away from developed countries) and pull factors (drive to expand, large populations, freer trade, lower levels of comp). SO: pre-entry (research), entry (method design), post-entry (brand development- learning) , assimilation (social integration/establishment), exit.. External environment is UNPREDICTABLE must think.

Question 27

What attracted FDI-

Answer 27

Deregulation, government conditions, infrastructural development, macroeconomic stability, during the process retailers need to be familiar with local laws and an effective infrastructure/distribution system

Question 28

Psychic distance:

Answer 28

Distance from the perception and understanding of cultural differences between home and forgiven markets.

Question 29

Glocalisation:

Answer 29

Globalisation but organisations adopt to local conditions based on characteristics and consumer demand. NEED A MIXTURE.

Question 30

An orgs international entry mode is effected by:

Answer 30

psycic distance, internal competencies, external environment and country-specific factors