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Retail communication-mix

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Retail communication-mix

  1. 1. RetailCommunication Mix
  2. 2. Retail Communication Mix B
  3. 3. Store Brand Building Strategies• Merchandise category• Price/quality• Specific attribute of benefit• Lifestyle or activity B
  4. 4. Communication Methods B
  5. 5. Steps in Developing aRetail Communication Program Belu
  6. 6. Retail Promotion Program Objectives• Long-term - Store Brand Building• Short-term• Communication Objectives• Affecting stages in decision making process Belu
  7. 7. Suggestions for Developing Ads• Dominant headline• Dominant element• Simple layout• Specific, complete presentation• Distinct visuals• Name and address of store Pra
  8. 8. Considerations in Evaluating a Promotion• Realized margin from the promotion• Cost of the additional inventory• Potential increase in sales from the promoted merchandise• Potential loss from switching• Additional sales from more customer visits Pra
  9. 9. Types of Media Newspapers  Direct mail Magazines  Outdoor Radio  Shopping guide TV  Yellow pages Internet Khem
  10. 10. Factors in Selecting Media• Coverage• Reach• Cost (CPM)• Impact Khem
  11. 11. What is Customer Relationship Management (CRM)?CRM is “the developmentand maintenance ofmutually beneficiallong-term relationships withstrategically significantcustomers” (Buttle, 2000)CRM is “an IT enhancedvalue process, whichidentifies, develops,integrates and focuses thevarious competencies of theand Management SQuare Consultingfirm to the Services
  12. 12. Determinants of CRMIn addition to trust and value, salespeople must: Understand customer needs and problems; Meet their commitments; Provide superior after sales support; Make sure that the customer is always told the tru (must be honest); and Have a passionate interest in establishing and reta term relationship (e.g., have long-term persp SQuare Consulting and Management Services
  13. 13. Stages in the development of a Customer RelationshipThe Pre-relationship Stage The event that triggers a buyer to seek a newbusiness partner.The Early Stage Experience is accumulated between the buyerand seller although a great degree of uncertainty and distance exists.The Development Stage Increased levels of transactions lead to a higherdegree of commitment and the distance is reduced to a social exchange.The Long-term Stage SQuare Consulting and Management Characterised by the companies’ mutual Services
  14. 14. The role of salespeople as relationship builders andSalespeople by: identifying potential customers and their needs; approaching key decision makers in the buying firm; negotiating and advancing dialogue and mutual trus coordinating the cooperation between the customers their company; encouraging the inter-organisational learning proces contributing to constructive resolution of existing co leading the customer relationship development teamare the individuals in any organisation who act both as rebuilders and as relationship promoters. SQuare Consulting and Management Services
  15. 15. Managing Customer RelationshipsThe global salesperson must be involved in thefollowing activities in order to initiate, develop andenhance the process that is aimed at building trustand commitment with the customer.Initiating the relationship Engage in strategic prospecting and qualifying; Gather and study pre-call information; Identify buying influences; Plan the initial sales call; SQuare Consulting and Management Services
  16. 16. Managing Customer RelationshipsThe global salesperson must be involved in thefollowing activities in order to initiate, develop andenhance the process that is aimed at building trustand commitment with the customer.Developing the relationship Select an appropriate offering; Customise the relationship; Link the solutions with the customer’s needs; Discuss customer concerns; SQuare Consulting and Management Summarize the solution to confirm benefits; and Services
  17. 17. Managing Customer RelationshipsThe global salesperson must be involved in thefollowing activities in order to initiate, develop andenhance the process that is aimed at building trustand commitment with the customer.Enhancing the relationship Assess customer satisfaction; Take action to ensure satisfaction; Maintain open, two-way communication; and Management SQuare Consulting and Services
  18. 18. SQuare Consulting and Management Services

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