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retail customer experience (firm controlled factors (promotion (research…
retail customer experience
firm controlled factors
promotion
research findings
increases of sales of promoted item are substantial
brand switching as result of promotion is 30-45%
cherry picking has relatively minor impact on retailer profit
mixed results on whether promotion leads to greater profit for the retailer
types of promotion
price promotions
loss leaders
mixed finding on whether it leads to increased profits
in-store displays
different interests between manufacture and retailer in the usage of promotion
pricing
merchandise and brand
supply chain
location
macro factors
2008
effect on consumers
search for value
shopping more carefully and deliberately
effect on retailers
increased effort in creating excitement and attract customers
strategies
expansion of private lable offerings
offering premium private lables
co branding
lower prices
the stores that consumers do not percieved as offering either low prices or salient/differentiated attributes are most vulnerable
important related questions
how do consumers react differently to price promotions etc in an economic crisis?
importance
shoppers are getting used to 50-70% percent of sale signs
retailers need to engage their customers every day to create long-term loyal advocates necessary to compete in theses challenging times
the most important thing is to be able to identify ways to hold on to profitable customers
growth and profitability are being determined by the little things that makes a big difference in customer satisfaction and loyality
The costumer
the key to retailing success is to understand one´s customer
research directions/frameworks for understanding the consumer experience
Puccinelli et al. (2009)
7 research domains the are important and can be used to manage customer experience
goals, schemas and information processing
relevance
important for predicting how consumer percieve the retail enviroment and retail marketing mix emlements
affect how consumers proceed through the stages of the consumer decision process
conceptualisation
goal
schema
information processing
memory
relevance
utilize memory research to devise strategies to aid consumers in making quicker associations
conceptualisation
encode
depend on the level of information processing which are contingent on motivation, opportunity, and ability
retain
retrive
tactics
provide salient cues that highlight their price savings
involvement
relevance
involved customers engage in more and elaborate thoughts about the product, which prompts them to focus on key product attributes rather then peripheral cues, such as advertised reference prices
might be a valid tactic for increased customer involvement and purchase of private-label merchandise because customer may not have as well-developed product expectations for privet compared to national brands
conceptualisation
various tactics that can be used to motivate and guide a disinterested potential customer in the consumer decision process
tactics
in-store activities
taste tests
demonstrateions
attitudes
attitude- behavior link
additional research should focus on conceptualizing the factors that reinforce this link, which would ensure a favorable attitude toward a retailer translates into actual retail sales
affect
atmospherics
conceptualisation
factors in the environment that influence customer experiences
important aspects and research
self-service technology
negative effects
positive effects
sociability of retail employees
affect of social features, design, and ambience
the effect of other consumers on the experience
compatibility management
tactics of facilitating interaction between compatible consumers in order to enrich experience for everyone involved
consumer attributions and choices
how consumer view product and service failures and the development of recovery strategies