Retail Communication Mix
Positioning and competitors’ analysis
CRM
Supply chain
Pricing and Branding
100
Name at least 5 media elements.
Traditional: • In-Store Marketing / Design Elements • Point-of-Purchase Displays • Samples • Special Events • Personal Selling • Public Relations (PR) • Cause-Related Marketing • Product Placement • New: Online Media • Websites – Search Engine Optimization (SEO) • E-mail • Mobile Communications • Social Media • YouTube • Facebook • Blogs
100
Define the Retail Marketing Strategy
A retail strategy is a statement identifying (1) the retailer’s target market, (2) the format the retailer plans to use to satisfy the target market’s needs, and (3) the bases on which the retailer plans to build a sustainable competitive advantage.
100
What is 80-20 rule in CRM?
80% of the sales or profits come from 20 % of the customers
100
What is a merchandise planning process?
• Forecast category sales • Develop an assortment plan • Determine appropriate inventory level and product availability • Develop a plan for managing inventory • Allocate merchandise for stores • Buy merchandise • Monitor and evaluate performance and make adjustments
100
What are the 2 most common used pricing strategies (define them)
High/Low prices EDLP strategies
200
Using examples describe pros and cons of TV ads, magazines, banners, social networks, youtube.
...
200
What are the Retail Growth Strategies?
Market Penetration, Market Expansion, Format Development, Diversification (related/unrelated)
200
Describe the CRM process
1. Collecting customer data 2. Analyzing customer data and identifying target customers 3. Developing CRM through frequent shopper programmes 4. Implementing CRM programmes
200
What is Supply Chain Management?
Supply chain management is a set of activities and techniques firms employ to efficiently and effectively manage the flow of merchandise from the vendors to the retailer’s customers.
200
What is Yield management?
Matching Supply and Demand - Yield management is the practice of adjusting prices up or down in response to demand to control the sales generated.
300
What is integrated marketing communication program?
Successful retailers utilize an integrated marketing communication program in which they integrate a variety of communication elements to deliver a comprehensive, consistent message to all customers over time, across all elements of their retail mix and across all delivery channels.
300
What is perceptual map? Draw a hypothetical perceptual map of apparel stores in Tashkent
...
300
Draw the Customer Pyramid and explain
Platinum Gold Iron Lead
300
Name 2 advantages that Supply management and Information Systems can create for the retailer?
• Strategic Advantage • Improved Product Availability • Higher Returns on Assets
300
What is Brand Equity and how to build it
• The value that a brand image offers retailers is referred to as brand equity. • Building Brand Equity • Brand Awareness (Aided recall, Top-of-mind awareness) • Associations
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