Download VTU (Visvesvaraya Technological University) MBA 3rd Semester (Third Semester) 16MBAMM301-Retail Management RM Chapter 5 Important Lecture Notes (MBA Study Material Notes)
International retailing
Unit 5
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
Customer Based brand equity (CBBE) process
? Clearly articulate the brand identity
? Establish a customer value proposition
? Define the optimal customer experience
? Cultivate relationship with customer
? Strengthen the brand over a time
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
Customer Based brand equity (CBBE) process
? Clearly articulate the brand identity
? Establish a customer value proposition
? Define the optimal customer experience
? Cultivate relationship with customer
? Strengthen the brand over a time
Motives of international Retailing
? Push/reactive drivers generally relate to
negative aspects of the domestic market,
? Saturation.
? Recession
? Planning restrictions
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
Customer Based brand equity (CBBE) process
? Clearly articulate the brand identity
? Establish a customer value proposition
? Define the optimal customer experience
? Cultivate relationship with customer
? Strengthen the brand over a time
Motives of international Retailing
? Push/reactive drivers generally relate to
negative aspects of the domestic market,
? Saturation.
? Recession
? Planning restrictions
? Pull factors
pull/proactive drivers are linked to attractive
aspects of either the retail offer or the foreign
market
Attractive markets
Rise of the middle class
Choice of ownership
Harmony of market concepts
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
Customer Based brand equity (CBBE) process
? Clearly articulate the brand identity
? Establish a customer value proposition
? Define the optimal customer experience
? Cultivate relationship with customer
? Strengthen the brand over a time
Motives of international Retailing
? Push/reactive drivers generally relate to
negative aspects of the domestic market,
? Saturation.
? Recession
? Planning restrictions
? Pull factors
pull/proactive drivers are linked to attractive
aspects of either the retail offer or the foreign
market
Attractive markets
Rise of the middle class
Choice of ownership
Harmony of market concepts
ISSUES IN INTERNATIONAL RETAILING
? Emergence of new markets
? Empowered consumer
? Technology enabled efficiencies
? Rise of the E-age
? Legislation and regulation
? Taxation and cross border shopping
? Variation in retail practices
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
Customer Based brand equity (CBBE) process
? Clearly articulate the brand identity
? Establish a customer value proposition
? Define the optimal customer experience
? Cultivate relationship with customer
? Strengthen the brand over a time
Motives of international Retailing
? Push/reactive drivers generally relate to
negative aspects of the domestic market,
? Saturation.
? Recession
? Planning restrictions
? Pull factors
pull/proactive drivers are linked to attractive
aspects of either the retail offer or the foreign
market
Attractive markets
Rise of the middle class
Choice of ownership
Harmony of market concepts
ISSUES IN INTERNATIONAL RETAILING
? Emergence of new markets
? Empowered consumer
? Technology enabled efficiencies
? Rise of the E-age
? Legislation and regulation
? Taxation and cross border shopping
? Variation in retail practices
International Environment
? Socio ?Cultural Environment
? Economic Environment
? Political Environment
? Legal Environment
? Technological Environment
FirstRanker.com - FirstRanker's Choice
Relationship marketing &
International retailing
Unit 5
DEFINITION
? Relationship marketing is a facet of customer
relationship management (CRM) that focuses
on customer loyalty and long-term customer
engagement rather than shorter-term goals
like customer acquisition and individual sales.
? Relationship marketing is about
understanding, creating and managing
exchange relationship between economic
partners, manufacturers, service providers,
various channel members and final consumers.
Role of Relationship marketing in retail
Customer loyalty and satisfaction
Build goodwill
Image projection
Differentiation
Methods of relationship marketing:
? Adding value to a relationship
?Reordering of goods
?Offering privileges to customer
?Developing ability to jointly solve problems
?Creating barriers to exit
Management of relationship in retailing:
? Mission and objectives setting
-customer service
-customer and employee loyalty;
-quality
? SWOT analysis:
-internal analysis
External analysis
? Market analysis and segmentation
? Strategy formulation: objective setting
? Developing the relationship marketing mix
? Product
? Price
? Promotion
? Place
? People
? Process
? Physical evidence
Research in retailing
Research is carried in retail ?
1. business feasibility,
2. identification of the right product mix,
3. target group profile,
4. consumer behaviour
Area of retail research:
? Store location ?
? size
? -demographics
? age
? income level
? Consumer
? merchandise assortment
? hours of operation
? Merchandising
? pricing
? private label brands
? Advertisement and promotion
? Which media to opt for
? frequency of catalogues
? special events
? Customer services
? shipping charge
? Sales methods
Retail research process
i. Define issue or problem to be researched
ii. Examine secondary data
iii. Generate Primary data
iv. Data analysis
v. Write the research proposal
vi. Recommend and implement findings
Importance of research in retail:
? Analyse the retail trend
? Identify new customer, understand consumer
behaviour and their profile
? Improve product, services
? Right assortment decision
? Develop long term strategy in terms of
promotion, branding
Trends in retail search:
? Focus group
? Third party agency
? Organisational study
? Location analysis
Brand management in retailing
? Brand is a name, term, sign, symbol or design,
or combination of them which is intended to
identify the goods or services of one seller or a
group of sellers and to differentiate them
from those competitors
Types of store brands in retailing:
? National brands / manufacturer
? Local brands
? Private lables
Role of Branding in Retailing:
? Improved sales
? Higher sales
? Increase in ROI
? Higher customer loyalty
Branding strategies in retailing:
? Integrated branding- retailer is in direct connect
with the manufacturer
? Contract branding ? outsourced to third party
and does not play any role in product
development
? Independent branding ? retailer simply procure
the goods from suppliers at the lowest possible
cost and entire branding investment is will be
dine by him Developing retail brand:
? Brands are developed over a period of time
? Positioning at the development stage is
important
Customer Based brand equity (CBBE) process
? Clearly articulate the brand identity
? Establish a customer value proposition
? Define the optimal customer experience
? Cultivate relationship with customer
? Strengthen the brand over a time
Motives of international Retailing
? Push/reactive drivers generally relate to
negative aspects of the domestic market,
? Saturation.
? Recession
? Planning restrictions
? Pull factors
pull/proactive drivers are linked to attractive
aspects of either the retail offer or the foreign
market
Attractive markets
Rise of the middle class
Choice of ownership
Harmony of market concepts
ISSUES IN INTERNATIONAL RETAILING
? Emergence of new markets
? Empowered consumer
? Technology enabled efficiencies
? Rise of the E-age
? Legislation and regulation
? Taxation and cross border shopping
? Variation in retail practices
International Environment
? Socio ?Cultural Environment
? Economic Environment
? Political Environment
? Legal Environment
? Technological Environment
FirstRanker.com - FirstRanker's Choice
This post was last modified on 18 February 2020