Instant redemption coupons are distributed in retail stores, which could be offered digitally from the Internet or in the store itself. The consumer can immediately redeem the coupon at the store, which leads to trial purchases and purchases of additional packages of product. Bounce-back coupons are coupons placed inside packages, which leads the customer to come back to the store to redeem it. Cross-ruffing coupons are coupons that are placed on one product that are for a complimentary product. They are for products that logically fit together and are usually purchased and consumed simultaneously.
What role does technology play in executing this strategy? Technology is vitally important to support the quick response and enhanced design needed to succeed in the fashion industry. The ability to gather information about the customers and what they want and what they are buying is often determined at the point of sale. Customer feedback is also determined by interviewing the customer and gathering information. The information gathered at the point of sale, or when interviewing customers, is immediately shared through an electronic data interchange.
Many elements can be placed to form marketing mix of any organization but most significant elements are given as follows (i) Store location (ii) Merchandise and Category Management (iii) Pricing (iv) Inshore marketing (v) Customer Relationship Management These retail marketing mix strategies at Argos are discussed here in detail (i) Store Location:- The selection of store location is most significant and important decision and success of business heavily relies on this decision. Store location contributes to the success of any organization. Argos initially emphasised high streets locations and shopping malls and continue opening its store near populated areas in order to provide consumer easy access and facility to visits the store. Explains stores can be opened in planned
They will need to use their strengths in marketing and merchandising and provide one stop shopping for the consumers. Everything about the footwear market is similar to the luggage market. The challenge will include the fact that shoes need to be tried on by the customers and if customers are afraid they will not be satisfied with the shoe they would order multiple pairs and return the ones they do not like. I believe marketing will be a critical aspect, as the business name does not invite shoe shoppers or market the product. Reference: Schroeder, R. Goldstein, S. (2013).
It seeks to satisfy the emotional and hedonic needs of the consumer as well as their functional needs, whilst seeking to capture the brand’s essence in the process (Kim, Sullivan &Forney, 2007). Experiential retailing comes in many forms including the use of technology, extravagant store design, entertainment and interactive booths, all of which is aimed to engage the consumer and create an immersive and enjoyable shopping experience for them when purchasing their desired goods and services (Pine &Gilmore, 2011). ). Focusing on the in-store experience, would therefore increase frequency of visits and dwell time which in turns increases sales, profitability and long-term customer loyalty. In this essay, eBay will be used as the business example to be discussed in regards to the above statement.
For the customer, digital technologies can integrate online and off-line sales channels and drive a seamless shopping experience. In-store touch screens that provide customers with “endless aisles” (that is, the full range of available products); “magic mirrors” that offer product information, recommendations, and virtual fittings; “clienteling” (an approach by which well-informed store staff using data on individual customers’ preferences and buying habits create a customized in-store experience)—all of these in-store digital solutions are transforming customers’ omnichannel-shopping
E-Business Analysis 1. Value proposition Amazon.com strives to be Earth's most customer-centric company where people can find and discover virtually anything they want to buy online. By giving customers more of what they want - low prices, vast selection, and convenience - Amazon.com continues to grow and evolve as a world-class e-commerce platform. 2. Revenue model Amazon.com is primarily a retail site with a sales revenue model.
Under Armour provides customers an omni-channel shopping experience which is required by retail consumers in today's business environment. It offers products in a fast growing niche market at competitive prices.
In order to sell to someone a item you need to understand their needs and wants. In order to do this you need to know how to communicate effectively. In order to sell something to anybody you must have product knowledge. If a sales person approaches a customer with a question, what good would they be without the knowledge of the item? Knowledge is power and for retailers, product knowledge can mean more sales.
The website could be advertised at the store and on all products that are sold such as coffee mugs, pens and on the packaging that is used on all of the products sold. It would help increase sales because of advertising and when customers come into the store they could get on the customer list for the Café and be informed about specials at the store and upcoming events. The metrics to be tracked on the e-business website would be as follows: the number of page views by customers, length of stay on the website, dates and times of visits, demographics of visitors, number of customers who make online purchases