retail communication mix, brand, brand equity, brand awareness, brand associations, brand image, IMC program, methods to communicate with retail customers, direct marketing, direct mail, e-mail, mobile marketing
This presentation gives an overview about the concept of Category Management in Retail. It covers topic such as Visual Merchandising, Planogram, CM in Grocery Store vs Apparel Store
Company reputation is built over years but it just
takes seconds to lose it because of unethical
promotions or inability to deliver to your customers. Therefore creating an effective marketing
communication mix through a well-researched strategy
will not only help your reach out to your customers but
also help you adapt to the ever-changing marketing
environment.
This presentation gives an overview about the concept of Category Management in Retail. It covers topic such as Visual Merchandising, Planogram, CM in Grocery Store vs Apparel Store
Company reputation is built over years but it just
takes seconds to lose it because of unethical
promotions or inability to deliver to your customers. Therefore creating an effective marketing
communication mix through a well-researched strategy
will not only help your reach out to your customers but
also help you adapt to the ever-changing marketing
environment.
This topic is talking about stimulation marketing which is a form of marketing tools that involves the task of transforming no demand into positive demands so this ways or method are important and useful for reinforcing the market and making consumers to come to you for your goods and also for you to know what your buyers need.This is a tool that creates environment where need is felt. it helps in choosing,designing and delivering value.
Marketing Communications refers to the various strategies, tactics, and channels that organizations use to convey their messages and promote their products or services to their target audience.
Disaster-meaning, Meaning - Disaster Management, Features of Disaster Management, Problems and Challenges of Disaster Management, Consequences/ Effects of Disasters - Physical, Psychological, Economic, Social, Disasters in India, Cop-up Strategies, Physical Coping Strategies, Mental Coping Strategies, Emotional Coping Strategies, Measures at National Level, Measures at State Level, Measures at District Level
Franchising, Types of Franchising, Merits of Franchising, Demerits of Franchising, Outsourcing, Merits of Outsourcing, Demerits of Outsourcing, Strategic Reasons of Growing Outsourcing in India, Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), Merits of KPO and BPO, Demerits of KPO and BPO, E-commerce, Features of E-commerce, Types of E-commerce Models, Merits of E-commerce, Demerits of E-commerce, Digital Economy, Features of Digital Economy, Merits of Digital Economy, Demerits of Digital Economy, Business Process Re-engineering (BPR)
Corporate Restructuring, Aims of Corporate Restructuring, Need for Corporate Restructuring, Forms of Corporate Restructuring, Restructuring on the Basis of Expansion, Restructuring on the Basis of Contraction, Restructuring on the Basis of Changes in Ownership, Corporate Renewal, Causes of Corporate Renewal, Techniques of Corporate Renewal, Strategic Alliance, Advantages of Strategic Alliance, Limitations of Strategic Alliance, Types of Strategic Alliance, Public Private Partnership (PPP), Importance of PPP, Problems Associated with PPP, Governing Strategies of PPP Model, PPP in India, Advantages of IT Driven Strategies, Limitations of IT Driven Strategies, Contribution of IT Sector in India
Retail Brand Alternatives, National Brands, Manufacturer’s Brands, Licensed Brands, Private-Label Brands, store brands, house brands, own brands, Premium Private-Label Brands, Copycat Brands, Exclusive Brands, Generic Brands, National Brands or Private Brands?, Advantages of Private Labels, Drawbacks of Private Labels
Retail Location - Meaning of Retail Location, Types of Retail Location, Freestanding, City or Town business district, Shopping Center, Nontraditional location such as in an airport or within another store, Importance of Suitable Location, Steps involved in choosing a Retail Location
Advertising Fundamentals and Media
Basics of Advertising: Concept and Features, Significance, Classification of Advertising, Integrated Marketing Communication (IMC) - Elements, Behavioural Model (E. K. Strong AIDA), DAGMAR Model (Russell Colley), Heirarchy of Effects (Lavidge and Steiners).
Ad Agency: Various Functional Department, Types, Measures for gaining and reasons for losing clients, Evaluation Criteria for Selecting an Advertising Agency.
Media: New Media Options, Forms of Digital Media, Media Objectives, Criteria for Selecting Suitable Media, Methods of Setting Advertising Budget
Technologies: Use of Technologies in retailing - Electronic Data Interchange (EDI), Radio Frequency Identification (RFI), Data Base Management system, E-Retailing: Formats, Challenges, Green Retailing Concept, Importance of Green Retailing.
Basics of Productivity and TQM: Concepts of Productivity, Modes of Calculating Productivity. Importance of Quality Management, Factors Affecting Quality; TQM – Concept and Importance, Cost of Quality, Philosophies and Approaches To Quality: Edward Deming, J. Juran, Kaizen, P. Crosby’s Philosophy.
Product and Service Quality Dimensions, SERVQUAL: Characteristics of Quality, Quality Assurance, Quality Circle: Objectives of Quality Circles, Ishikawa Fish Bone, Applications in Organizations.
Production Management:
Objectives, Components – Manufacturing Systems: Intermittent and Continuous Production Systems.
Product Development, Classification and Product Design.
Plant location and Plant Layout – Objectives, Principles of Good Product Layout, Types of Layout.
Importance of Purchase Management
Marketing Mix - Meaning, 4P’s of Marketing, Product, Product Characteristics and Classification, Differentiating through
Multiple Sources, Product Differentiation, Differentiation through
tangible and Intangible Benefits, Product line and mix decisions, Product life cycle and its marketing implications, Packaging, labelling, Warranties and Guarantees, Price, Pricing, Factors affecting price determination, Procedure for setting prices, Pricing policies and strategies, Place, Place Mix, Distribution Mix, Nature and importance of distribution channels, Types and functions of distribution middlemen, Channel management decisions, Retailing, Wholesaling, Promotion, Promotion Decision: Communication process, Promotion tools: Their
Characteristics and relative merits and limitations, Designing promotion campaign, Brands - The role of Brands, Scope of branding, Building brand equity, Measuring brand equity
Business Functions, Meaning and Definition of Business Functions, Planning, Strategy, Decision-Making, Supply Chain, Finance, Marketing, Human Resource, Legal, Accounting and Auditing, Administration, Information and Technology, Social Functions, Corporate Social Responsibility
Evaluation and Control of Sales Performance
Sales Performance
Methods of Supervision and Control of Sales force
Sales Performance Evaluation Criteria
Sales Performance Review
Sales Management Audit
B. Measuring Distribution Channel Performance
Evaluating Channels
Control of Channel
C. Ethics in Sales Management
D. New Trends in Sales and Distribution Management
Distribution Channel
Management of Distribution Channel
Need of Distribution Channel
Need for Channel Management
Channel Partners and their Functions
Difference between Distributor and Wholesaler
Choice of Distribution System
Distribution Strategy
Factors Affecting Effective Management of Distribution Channels
Channel Conflict
Conflict Resolution
Motivating Channel Members
Selecting Channel Partners
Evaluating Channels
Channel Control
Market Analysis - Meaning, Dimensions of a Market, Sales Forecasting - Meaning, Short Term Forecasts, Medium Term Forecast, Long Term Forecast, Importance of Sales Forecasting, Methods of Sales Forecasting - Qualitative
Techniques, Expert Opinion, Delphi Technique, Consumer
Survey, Method Sales Force, Estimate Sales Hierarchy Estimate, Quantitative Techniques, Moving Averages, Sales Ratio Method. Market Share Projection, Regression Analysis,
Sales Quota - Meaning, Types of Sales Quota, Sales Value or Financial Quota, Sales Volume Quota, Activity, Combination Quota, Factors Determining Fixation of Sales Quota, Sales Territory, Reasons - Setting up or Reviewing Sales Territories, Assigning Salesman to Territories, Use of IT in Territory Management, Reasons/Advantages of Setting Sales Territories,
Selling, Process of Selling, Methods of Closing Sales, Reasons for Unsuccessful Closing, Theories of Selling, Stimulus – Response Theory, Product Orientation Theory, Need Satisfaction Theory, Selling Skills, Conflict Management in Sales, Task Process, Process Process, Relationship Process, Functional Conflict, Dysfunctional Conflict, Methods to Resolve Conflicts. Consumer Selling v/s Organizational Selling, National Selling v/s International Selling
Sales Management - Meaning, Characteristics of Sales Management, Objectives of Sales Management, Importance of Sales Management, Evolution of Sales Management - Pre Industrial Revolution Period, Production Oriented Period, Sales Oriented Period, Customer Oriented Period, Sales Department, Role of Sales Department, Interface of Sales with other Management Functions, Qualities of Sales Manager, Development in Sales Management, Sales Organization, Structure of Sales Organization, Distribution - Meaning, Distribution Channel, Intermediaries, Role of Distribution Channel, Evolution of Distribution Channel, Distribution Management - Meaning, Importance of Distribution Management, Integration of Marketing, Sales and Distribution
Organizational Development (OD)- Meaning, Definition, Need for OD, Organizational Development Techniques, Traditional Techniques, Sensitivity Training, Grid Training, Survey Feedback, Modern Techniques - Process Consultation, Third Party, Team Building, Transactional Analysis (TA), Work Stress - Meaning, Reasons for Stress at Workplace, Causes of Stress, Individual Stressors, Group Stressors, Organizational Stressors, Environmental Stressors, Impact / Consequences / Outcome of Stress, Stress v/s Burnout, Managing Stress at Individual Level, Role of Organizations in Managing Stress
Organizational Change - Meaning, Change agents, Characteristics of Organizational Change, Causes of Organizational Change, Internal Factors , External Factors, Lewins Model of Organizational Change, Unfreezing, Moving, Refreezing, Creativity - Meaning, Components of Creativity, Qualities of a Creative Person, Factors affecting Creativity in Organizations, Ways of enhancing creativity for effective decision making, Brain Storming, Creative Problem Solving, Stages in Creative Problem Solving
Motivation - Meaning, Intrinsic and extrinsic motivation, Theories of Motivation, Need Theories, Process Theories, A. Maslow Need Hierarchy, F. Herzberg Dual Factor, Mc Gregor Theory X and Theory Y, Ways of Motivating through Carrot and Stick in Organizations
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
MATATAG CURRICULUM: ASSESSING THE READINESS OF ELEM. PUBLIC SCHOOL TEACHERS I...NelTorrente
In this research, it concludes that while the readiness of teachers in Caloocan City to implement the MATATAG Curriculum is generally positive, targeted efforts in professional development, resource distribution, support networks, and comprehensive preparation can address the existing gaps and ensure successful curriculum implementation.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
2. Retail Communication
• The retail communication program informs the customers about the
retailer as well as the merchandise/services that he offers.
• It helps to develop repeat visits and enhances customer loyalty
• It has short term and long term effects on retailers business
• The communication program can be used to create and maintain a
strong differentiation for the retailer and his brands
• Effective communication mix enhances retail image and is an important
source of strategic advantage
• It also complements the retailers CRM program
3. Retail Communication
Communications Program to Develop Brand Image and Brand Loyalty
• Brand is a distinguishing name or symbol such as a logo that identifies the
products or services offered by the seller and differentiates those products
and services from the offerings of the competitors.
• Brand provides value to both customers and retailers
• It gives a unique identity
• It conveys information to consumers about the nature of the shopping
experience - the retailers mix - they will encounter when patronizing a
retailer
• It enhances customer satisfaction with the merchandise/services they buy.
4. Retail Communication
• Brand Equity refers to the perceived value of a company or product based
on its reputation among customers and consumers as well as its assets
beyond mere revenue.
• The most important components of brand equity are:
Brand Recognition
Brand Awareness
Customer Experience
Customer Preference
Customer Retention
Perceived Quality
USP
5. Retail Communication
The activities that a retailer needs to undertake to build brand equity for its
firm or its private-label merchandise are
(1) Create a high level of brand awareness
(2) Develop favorable associations with the brand name
(3) Consistently reinforce the image of the brand.
6. Retail Communication
(1) Brand Awareness is the ability of a potential customer to recognize or
recall that the brand name is a type of retailer or product/service
• It is the strength of the link between the brand name and the type of
merchandise /service in the minds of the customers
• Aided recall: consumers indicate that they know the brand when the name
is presented to them
• Top-of-Mind (TOM) Awareness: occurs when the consumer mentions a
specific brand name first when they are asked about the type of
retailer/merchandise category/type of service. E.g. Bisleri
• Retailers build TOM awareness by having memorable names, repeatedly
exposing the name through advertisement and having memorable symbols
• Sponsorship of well publicized events can provide exposure and increase
awareness
7. Retail Communication
(2) Brand Associations
• Building awareness is only one step in developing brand equity, but the
value of the brand is largely based on the associations that customers make
with the brand name.
• Brand associations are anything linked to or connected with the brand name
in a consumer’s memory. For example, some of the associations that
consumers might have with Apple are its innovative products, such as the
iPhone, iPod, and Mac computers, as well as its easy-to-use computer
interface and innovative stores.
• These strong associations influence consumer buying behavior
8. Retail Communication
Some common associations that retailers develop with their brand name are
as follows:
1. Merchandise Category: The most common association is to link the
retailer to a category of merchandise. E.g. Office Depot would like to have
consumers associate its name with office supplies.
2. Price/ Quality: Some retailers want to be associated with offering unique,
high-fashion merchandise. Other retailers want associations with low
prices and good value.
3. Specific Attribute or Benefit: A retailer can link its stores to attributes
with providing convenience or connection with offering a high level of
customer service.
4. Lifestyle or Activity: Some retailers associate their name with a specific
lifestyle or activity.
9. Retail Communication
(3) Brand Image
• The brand image consists of a set of associations that are usually organized
around some meaningful themes.
• Thus, the associations that a consumer might have about McDonald’s might
be organized into groups such as kids, service, and type of food.
10. Integrated Marketing Communication Program
Retailers need to develop an integrated marketing communication program -
a program that integrates all the 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.
Without this coordination, the communication methods might work at cross-
purposes.
For example, the retailer’s televised advertising campaign might attempt to
build an image of exceptional customer service, but the firm’s sales
promotions might all emphasize low prices.
If communication methods are not used consistently, customers may become
confused about the retailer’s image and therefore not patronize the store.
11. Extending the Brand Name
Retailers can leverage their brand names to support the growth strategies.
E.g. IKEA used its strong brand image to enter the U.S. home furnishing retail
market successfully
In other cases, retailers have pursued growth opportunities using a new and
unrelated brand name.
There are pros and cons to extending a brand name to a new concept.
An important benefit of extending the brand name is that minimal
communication expenses are needed to create awareness and a brand image
for the new concept.
Customers will quickly transfer their awareness and associations about the
original concept to the new concept.
However, in some cases, the retailer might not want to have the original
brand’s associations connected with the new concept.
12. Extending the Brand Name
These issues also arise as a retailer expands internationally.
Associations with the retailer’s brands that are valued in one country may not
be valued in another.
Retailers communicate with customers using a mix of methods, such as
advertising, sales promotion, publicity, e-mail, blogs, and social media like
Twitter, Facebook, and YouTube
13. Methods of Communicating with Customers
For any communications campaign to succeed, the firm must deliver the right
message to the right audience through the right media, with the ultimate
goal of profiting from long-term customer relationships rather than just
short-term transactions.
Reaching the right audience is becoming more difficult, however, as the
media environment grows more complicated
No single type of media is necessarily better than another.
The goal of a retail communication strategy is to use the media in conjunction
so that the sum exceeds the total of the individual media types.
However, advances in technology have led to a variety of new, along with the
traditional, media options for consumers, all of which vie for consumers’
attention.
14. Methods of Communicating with Customers
Print media have also grown and become more specialized.
This proliferation of media has led many retailers to shift their promotional
dollars from advertising to direct marketing, use of Internet sites, and other
forms of promotion in search of the best way to deliver messages to their
target audiences.
16. Methods of Communicating with Customers
The elements can be viewed on two axes:
Passive and Interactive (from the consumer’s perspective)
Offline and Online.
As the number of communication elements have expanded, so have the ways
in which retailers can communicate with their customers. So, for instance,
direct marketing appears in three of the four boxes.
Firms have also expanded their use of traditional media (e.g., advertising,
public relations, and sales promotions) from pure offline to a combination of
offline and online
17. Methods of Communicating with Customers
Direct Marketing
It is marketing that communicates directly with target customers to generate
a response or transaction.
It contains a variety of traditional and new forms of marketing
communication initiatives and is represented in three of the four quadrants in
the diagram.
Traditional direct marketing includes mail and catalogs sent through the mail;
today it also includes Internet-enabled methods such as e-mail and mobile
marketing.
Direct marketing retailers try to carefully target their customers so that they
will be more receptive to their messages.
18. Methods of Communicating with Customers
Direct Mail
Direct mail includes any brochure, catalog, advertisement, or other printed
marketing material delivered directly to the consumer through the mail or a
private delivery company.
Retailers have communicated with their customers through the mail for as
long as the mail has existed.
The direct mail piece can go to all customers, to a subset of the customers
according to their previous purchases, or even on a personalized basis to
individual customers.
Although relatively expensive on a per-customer basis (because of printing,
mail costs, and a relatively low response rate), direct mail is still extensively
used by many retailers because people respond favorably to personal
messages.
19. Methods of Communicating with Customers
E-mail
E-mail is a direct marketing communication vehicle that involves sending
messages over the Internet.
E-mail, like other forms of electronic communications (e.g., Web sites, m-
commerce), can be personalized to the specific consumer and thus is similar
to communications delivered by salespeople.
However, when the same message is delivered electronically to all recipients,
electronic communications more closely resemble advertising.
Retailers use e-mail to inform customers of new merchandise and special
promotions, confirm the receipt of an order, and indicate when an order has
been shipped.
20. Methods of Communicating with Customers
Mobile Marketing
Mobile marketing is marketing through wireless handheld devices, such as
cellular telephones, and m-commerce or mobile commerce involves
completing a transaction via the cell phone.
Smartphones offer a kind of mobile computer with the ability to obtain sports
scores, weather, music, videos, and text messages, as well as to purchase
merchandise.
Retailers’ success with mobile marketing rests on integrating marketing
communications with fun, useful apps that are consistent with these
consumer attitudes toward mobile devices.
In response, firms are steadily improving customers’ potential experience
with their mobile interfaces by creating applications for consumers.
21. Methods of Communicating with Customers
Online Marketing – The online media vehicles with which customers can
interact include Web sites, blogs, and social media.
• Web Sites
Retailers are increasing their emphasis on communicating with customers
through their Web sites.
They use their Web sites to build their brand images; inform customers of store
locations, special events, and the availability of merchandise in local stores;
and sell merchandise and services.
Some retailers provide services that help garner customer loyalty and indirectly
increase sales, others devote areas of their Web sites to community building
and offer opportunities for customers with similar interests to learn about
products and services and to share information with others.
Visitors to these Web sites can also post questions seeking information.
22. Methods of Communicating with Customers
• Blogs
A blog (Weblog) contains periodic posts on a common Web page, that can
communicate trends, announce special events, and create word-of-mouth,
which is communication between people about a retailer.
Blogs connect customers by forming a community, allow the company to
respond directly to customers’ comments, and facilitate long-term
relationships between customers and the company.
Blogs are supposed to be transparent and contain authors’ honest
observations, which can help customers determine their trust and loyalty
levels.
Nowadays, blogs are becoming more interactive as the communication
between bloggers and customers has increased.
Retailers utilize blogs as part of the communication strategy.
23. Methods of Communicating with Customers
• Social Media
It is media content distributed through social interactions.
Three major online facilitators of social media are YouTube, Facebook, and
Twitter.
As another online vehicle for word-of-mouth communications, online social
media enable consumers to review, communicate about, and aggregate
information about products, prices, and promotions.
This type of social media also allows users to interact among themselves
(e.g., form a community).
Such online communities enable users to provide other like-minded
consumers and retailers with their thoughts and evaluations about a retailer’s
products or services.
24. Methods of Communicating with Customers
Retailers are using social media to engage their customers in a proactive
dialogue.
When a retailer provides content in a social media Web site, people often begin
sharing and commenting on it.
The retailer then must monitor the feedback and respond if necessary—
especially if the commentary is negative.
When a retailer finds an unhappy customer, it should recognize the event as a
prime customer service opportunity, engage the consumer, and attempt to
remedy the situation.
By proactively engaging with its customers, a retailer can build stronger
relationships.
Furthermore, retailers can help cultivate their images through social media that
depict them in a certain way, adding a human element that otherwise might not
exist.
25. Methods of Communicating with Customers
Sales Promotion
Sales promotions are special incentives or excitement-building programs that
encourage consumers to purchase a particular product or service; they are
typically used in conjunction with other advertising or personal selling
programs.
Like personal selling and telemarketing, sales promotions are a form of
offline/ interactive communication.
Many sales promotions, like free samples or point-of-purchase (POP) displays,
attempt to build short-term sales, whereas others, like loyalty programs,
contests, and sweepstakes, have become integral components of retailers’
long-term customer relationship management (CRM) programs, which they
use to build customer loyalty.
26. Methods of Communicating with Customers
Tools Used in Sales Promotion
• Coupons
Coupons offer a discount on the price of specific items when they are
purchased.
They are issued by manufacturers and retailers in newspapers, on products,
on the shelf, at the cash register, over the Internet, and through the mail.
Retailers use coupons because they are thought to induce customers to try
products for the first time, convert first-time users to regular users,
encourage large purchases, increase usage, and protect market share against
competition.
Some retailers have linked coupons directly to their loyalty programs
27. Methods of Communicating with Customers
• Rebates
Rebates provide another form of discounts for consumers off the final selling
price.
In this case, however, the manufacturer, instead of the retailer, issues the
refund as a portion of the purchase price returned to the buyer in the form of
cash.
Retailers generally welcome rebates from vendors because they generate
sales in the same way that coupons do but the retailers incur no handling
costs.
Many products, such as consumer electronics, offer rebates that may lower
the price of the item significantly.
28. Methods of Communicating with Customers
• Premiums
A premium offers an item for free or at a bargain price to reward some type
of behavior, such as buying, sampling, or testing.
Such rewards build goodwill among consumers, who often perceive high
value in them.
Premiums can be distributed in a variety of ways:
They can be included in the product packaging, such as the toys inside cereal
boxes; placed visibly on the package or delivered in the mail, such as the free-
perfume offers Victoria’s Secret mails to customers.
29. Methods of Communicating with Customers
• Samples
Samples offer potential customers the opportunity to try a product or service
before they make a buying decision.
Distributing samples is one of the most costly sales promotion tools but also
one of the most effective.
Quick-service restaurants and grocery stores frequently utilize sampling.
• Point-of-Purchase Displays
They are merchandise displays located at the point of purchase, such as at the
checkout counter in a supermarket.
Retailers have long recognized that the most valuable real estate in the store is
at the POP.
Customers see products like a magazine or a candy bar while they are waiting
to pay for their items and impulsively purchase them.
30. Methods of Communicating with Customers
• Special Events
A special event is a sales promotion program comprising a number of sales
promotion techniques built around a seasonal, cultural, sporting, musical, or
some other event.
Special events can generate excitement and traffic to the store.
E.g. Car dealerships can have rallies or shows of new or vintage models.
• Pop-Up Stores
Pop-up stores are temporary storefronts that exist for only a limited time and
generally focus on a new product or limited group of products offered by a
retailer.
They are also used by some retailers during the holiday season to increase
exposure and convenience shopping for their customers without having to
invest in a long-term lease.
31. Methods of Communicating with Customers
Personal Selling
Personal selling is a communication process in which sales associates help
customers satisfy their needs through face-to-face exchanges of information.
It is a form of offline/interactive communication
The cost of communicating directly with a potential customer is quite high
compared with other forms of promotion, but it is simply the best and most
efficient way to sell certain products and services.
Customers can buy many products and services without the help of a
salesperson, but salespeople simplify the buying process by providing
information and services that save customers time and effort.
In many cases, sales representatives add significant value, which makes the
added expense of employing them worthwhile.
32. Methods of Communicating with Customers
Advertising
Advertising entails the placement of announcements and persuasive messages
purchased by retailers and other organizations that seek to inform and/or
persuade members of a particular target market or audience about their
products, services, organizations, or ideas.
Traditionally, advertising has been passive and offline (e.g., ads on TV, in
magazines, and in newspapers)
However, recently there has been a growth in online advertising.
33. Methods of Communicating with Customers
Public Relations
Public relations (PR) involves managing communications and relationships to
achieve various objectives, such as building and maintaining a positive image
of the retailer, handling or heading off unfavorable stories or events, and
maintaining positive relationships with the media.
In many cases, public relations activities support other promotional efforts by
generating “free” media attention and general goodwill.
34. Planning the Retail Communication Program
The steps involved in developing and implementing a retail communication
program are:
1. Establish Objectives
2. Determine Budget
3. Allocate Budget
4. Implement and Evaluate the Program
35. Planning the Retail Communication Program
1. Establish Objectives
Retailers establish objectives for their communication programs to provide:
• Direction for people implementing the program
• A basis for evaluating its effectiveness.
Some communication programs can have a long-term objective, such as
creating or altering a retailer’s brand image.
Other communication programs focus on improving short-term performance,
such as increasing store traffic on a specific weekend.
Communication objectives are specific goals related to the communication
mix`s effects on customers decision making process.
To effectively implement and evaluate a communications program, the
objectives must be clearly stated in quantitative terms.
36. Planning the Retail Communication Program
The communication mix needs to be defined, along with the degree of
change expected and the time period over which the change will be realized
E.g. Communication objective for a supermarket can be to increase from a
45% to 55% within 3 months the percentage of customers having a favorable
attitude towards the store.
Here the objective is clear and measurable, indicates the task the program
should address.
People who implement this program know what they are supposed to
accomplish.
37. Planning the Retail Communication Program
The communication objectives and approaches used by vendors and retailers
differ, and the differences can lead to conflicts:
• Long-term versus Short-term Goals: Most communications by vendors are
directed toward building a long-term image of their products. In contrast, retailer
communications are used to announce promotions and special sales that
generate short-term revenues.
• Product versus Location: When vendors advertise their branded products, they
aren’t concerned about where customers buy them as long as they buy their
brands. In contrast, retailers aren’t concerned about what brands customers buy
as long as they buy them in their stores.
• Breadth of Merchandise. Typically, because vendors have a relatively small
number of products to promote, they can devote a lot of attention to developing
consistent communication programs for each brand they make. Retailers have to
develop communication programs that promote a much wider range of products.
38. Planning the Retail Communication Program
2. Determine Communication Budget
The second step in developing a retail communication program is to
determine a budget.
The economically correct method for setting the communication budget is
Marginal Analysis.
Even though retailers usually do not have enough information to perform a
complete marginal analysis, the method shows managers how they should
approach budget-setting programs.
The marginal analysis method for setting a communication budget is the
approach that retailers should use when making all of their resource
allocation decisions, including the number of locations in a geographic area,
allocation of merchandise to stores, staffing of stores and the floor and shelf
space devoted to merchandise categories.
39. Planning the Retail Communication Program
Objective-and-Task Method
This method determines the budget required to undertake specific tasks to
accomplish communication objectives.
To use this method, the retailer first establishes a set of communication
objectives and then determines the necessary tasks and their costs.
The total of all costs incurred to undertake the tasks is the communication
budget.
Rule-of-Thumb Method
The previous two methods set the communication budget by estimating
communication activities’ effects on the firm’s future sales or communication
objectives. The rule-of-thumb method uses the opposite logic.
They use past sales and communication activities to determine the present
communication budget.
40. Planning the Retail Communication Program
Methods used:
- Affordable Budgeting Method: Retailers set the communication budget by
determining what money is available after operating costs and profits are
subtracted. The major problem with the affordable method is that it
assumes that communication expenses don’t stimulate sales and profit
- Percentage of Sale Method: sets the communication budget as a fixed
percentage of forecast sales. Retailers use this method to determine the
communication budget by forecasting sales during the budget period and
then applying a predetermined percentage to set the budget. The problem
with the percentage-of-sales method is that it assumes that the same
percentage used in the past, or used by competitors, is appropriate for the
future.
41. Planning the Retail Communication Program
- Competitive Parity Method: Here the communication budget is set so that
the retailer’s share of its communication expenses equals its share of the
market. To use the competitive parity method, the owner manager would
first estimate the total amount spent on communication by all sporting
goods retailers in town.
42. Planning the Retail Communication Program
3. Allocate Budget
After determining the size of the communication budget, the third step in the
communication planning process is to allocate the budget.
In this step, the retailer decides how much of its budget to allocate to specific
communication elements, merchandise categories, geographic regions, or
long and short-term objectives.
Allocation decisions, like budget-setting decisions, should use the principles
of marginal analysis. The retailer should allocate the budget to areas that will
yield the greatest return. This approach for allocating a budget is sometimes
referred to as the high – assay principle.
4. Implement and Evaluate the Program
The final stage in developing a retail communication program is its
implementation and evaluation.
43. Retail Information System (RIS) & Retail Research
• Retail research is a method of systematically gathering, analyzing, storing,
utilizing valuable retail information and data
• It facilitates the process of finding solutions to problems
• Retail managers need to be informed with sufficient information to make
decisions possible (Information - A meaningful body of facts organized based on
atopic. It is a result of analysis of raw data)
• RIS can be used by store groups, vendors, internal buyers, planners etc.
• Data used in retail research is from customers, marketplace, retail environment,
employees and competitors. (Data - News facts and figures which are
unorganized)
• A Retail Information System anticipates the information needs of retail managers;
collects, organizes and stores relevant data on a continuous basis; directs the
flow of information to the proper decision makers
• RIS can be used by store groups, vendors, internal buyers, planners etc.
44. Retail Information System (RIS) & Retail Research
• Retail research helps to understand current shopping patterns, size of
market segment, means to satisfy this segment.
• While developing the product mix, the retailer identifies the focus
groups among the target segments and understand their preferences
to serve them better.
• The broad areas in which the data is to be collected by retailer is
defined and specified, using one or more methods:
Questionnaire
In-depth Interview
Observation etc.
46. Advantages of Retail Information System
• Development of an effective RIS helps to ensure that the system is
fully integrated into the overall retail management plan
• Effective RIS allows for continuous data updation
• RIS is necessary in order to be competitive in todays retail environment
• Retailers can use RIS to access data regarding which items have the
highest turnover rates and where EOQ items have to be ordered
47. References
1. Michael Levy & Barton A Weitz, “Retailing Management”, 8th Edition, Tata
Mc Graw Hill.
2. Gibson G. Vedamani, “Retail Management”, 4th Edition