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Chp8: Info Gathering & Processing in Retailing - Coggle Diagram
Chp8: Info Gathering & Processing in Retailing
1) Retail Info System:
Definition
Collects, organizes, and stores relevant
data on a continuous basis
Flow
Directs the flow of information to the
proper decision makers
2) Data Base Management (DBM):
Definition
Used for
b. Customer analysis
c. Promotion evaluation
a. Frequent shopper programs
d. Inventory planning
5 steps to use DBM
Flow of DBM:
i. Data Warehouse
Data Mining
Micromarketing
1 more item...
a. Plan the particular data base and determine
information needs
b. Acquire the necessary information
c. Retain the information in a usable and accessible
format
d. Update the data base regularly
e. Analyze the data base to determine strengths and
weaknesses
System gathers, integrates, applies, and stores
information in related subject areas
4) Definition of mystery shopper:
Retailers hire people to pose as customers and observe operations from sales presentations to how well displays are maintained to service calls
3) Marketing Research
Definition
The collection and analysis of information relating to specific issues or problems facing a retailer
Secondary
Advantages
❖ Provides background
information ❖ Inexpensive ❖ Fast ❖ Several sources and perspectives ❖ Generally credible
Disadvantages
❖ May not suit current study ❖ May be incomplete ❖ May be dated ❖ May not be accurate ❖ May suffer from poor collection techniques
Primary
Disadvantages
❖ Information may not be acquirable ❖ May be more expensive ❖ More time consuming ❖ Limited perspectives
Advantages
❖ Known and controlled source❖ Collected for specific purpose ❖ Current ❖ Relevant