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MKTG-4TH-Retail and Internet Mkt.ppt

  1. Retailing • All activities involved in selling goods or services directly to final consumers for their personal, non-business use,. Retailers: Businesses whose sales come primarily from retailing
  2. STORE RETAILING AMOUNT OF SERVICE PRODUCT LINE SOLD RELATIVE PRICE EMPHASIS CONTROLS OF OUTLETS TYPE OF STORE CLUSTER •Self Service (locate- compare- select) •Limited Service (More service because customers require information) Specialty Store (narrow product line-electronics, furniture, books, electronics, flowers) Department Store (wide variety of product lines- typically, clothing home furnishings, and household goods.) Supermarket (Large, low-cost, low-margin, high-volume, self-service: food, laundry, household products…) Discount Store (Standard Merchandise at lower prices by accepting lower margins and selling @ higher volume) Off Price (Retailers that buy at less than regular wholesale prices and sell at less than retail. Eg. Factory Outlets) Catalog Showroom (Retail Operation that sells a wide selection of high mark up, fast moving brands at discounted prices) Corporate Chain (2 or more owned and controlled employ central buying and merchandising and sell similar lines of merchandise) Voluntary Chain (Wholesaler sponsored group of independent retailers) and Retailer Cooperative (bands together to set up a jointly owned central wholesale operation) •Central Business District •Regional Shopping Center (40- 100 stores) •Community Shopping Center (15- 50 stores) •Neighborh ood Shopping Center (5-15 stores)
  3. More Product Lines Sold Contd. Convenience Store (near residential area; high turnover, limited line; open for long hours) Combination Store (Food & Drug), Superstore (twice the size of Supermarkets food and non food items and services as dry cleaning, post offices, bill paying, lunch counters etc.) and Hypermarket (Supermarket, Discount and Warehouse Retailing) Service Business (Hotels, Movie Theaters, Bowling Alleys, Hair Care shops etc) CONTROLS OF OUTLETS Contd. Franchise Organization- Contractual Association between a manufacturer, wholesaler or service organization and independent businesspeople (franchisees) Merchandising Conglomerate (Corporations that combine several different retailing forms under central ownership and share some distribution and management functions.
  4. Retailing Wheel of retailing concept: • A concept of retailing that states new types retailers, usually begin as low margin, low price, low status operations but later evolve into higher priced higher service operations, eventually becoming like the conventional retailers they replaced.
  5. Wholesaling • All activities involved in selling goods and services to those buying for resale or business use. E.g..: A retail bakery is engaging in wholesaling when it sells pastry to the local hotel.
  6. Direct Marketing (Non Store Retailing) • Marketing through various advertising media that interact directly with consumers, generally calling for the consumer to make a direct response. – Direct Mail (Post) – Mail Order Catalogues – Telemarketing – Direct Radio & TV Marketing – Online Computer Shopping
  7. Internet Marketing • also referred to as i-marketing, web marketing, online marketing, or eMarketing, is the marketing of products or services over the Internet. • The Internet has brought many unique benefits to marketing, one of which being lower costs for the distribution of information and media to a global audience. • The interactive nature of Internet marketing, both in terms of providing instant response and eliciting responses, is a unique quality of the medium. • Internet marketing is sometimes considered to have a broader scope because it not only refers to digital media such as the Internet, e-mail, and wireless media; however, Internet marketing also includes management of digital customer data and electronic customer relationship management (ECRM) systems.
  8. Internet Marketing • Internet marketing ties together creative and technical aspects of the Internet, including design, development, advertising, and sale. • Internet marketing also refers to the placement of media along different stages of the customer engagement cycle through search engine marketing (SEM), search engine optimization (SEO), banner ads on specific websites, e-mail marketing, and Web 2.0 strategies.
  9. Business models Internet marketing is associated with several business models: • e-commerce — goods are sold directly to consumers (B2C) or businesses (B2B), • publishing — the sale of advertising, • lead-based websites — an organization generates value by acquiring sales leads from its website, and • affiliate marketing — A process in which a product or service developed by one person is sold by other active seller for a share of profits. The owner of the product normally provide some marketing material (affiliate link, tracking facility).
  10. Features of Internet Marketing • One-to-one approach The targeted user is typically browsing the Internet alone, so the marketing messages can reach them personally. This approach is used in search marketing, where the advertisements are based on search engine keywords entered by the user. • Appeal to specific interests Internet marketing and geo marketing places an emphasis on marketing that appeals to a specific behaviour or interest, rather than reaching out to a broadly-defined demographic. "On- and Off- line" marketers typically segment their markets according to age group, gender, geography, and other general factors. Marketers have the luxury of targeting by activity and geolocation. For example, a kayak company can post advertisements on kayaking and canoing websites with the full knowledge that the audience has a related interest.
  11. • Internet marketing differs from magazine advertisements, where the goal is to appeal to the projected demographic of the periodical. Because the advertiser has knowledge of the target audience—people who engage in certain activities (e.g., uploading pictures, contributing to blogs)— the company does not rely on the expectation that a certain group of people will be interested in its new product or service. • Geo targeting Geo targeting (in internet marketing) and geo marketing are the methods of determining the geolocation (the physical location) of a website visitor with geolocation software, and delivering different content to that visitor based on his or her location, such as country, region/state, city, metro code/zip code, organization, Internet Protocol (IP) address, ISP or other criteria. • Different content by choice A typical example for different content by choice in geo targeting is the FedEx website at where users have the choice to select their country location first and are then presented with different site or article content depending on their selection. • Automated different content With automated different content in internet marketing and geomarketing the delivery of different content based on the geographical geolocation and other personal information is automated.
  12. Advantages • Internet marketing is relatively inexpensive when compared to the ratio of cost against the reach of the target audience. Companies can reach a wide audience for a small fraction of traditional advertising budgets. The nature of the medium allows consumers to research and purchase products and services at their own convenience. Therefore, businesses have the advantage of appealing to consumers in a medium that can bring results quickly. • Internet marketers also have the advantage of measuring statistics easily and inexpensively. Nearly all aspects of an Internet marketing campaign can be traced, measured, and tested. The advertisers can use a variety of methods: pay per impression, pay per click, pay per play, or pay per action. Therefore, marketers can determine which messages or offerings are more appealing to the audience. The results of campaigns can be measured and tracked immediately because online marketing initiatives usually require users to click on an advertisement, visit a website, and perform a targeted action. Such measurement cannot be achieved through billboard advertising, where an individual will at best be interested, then decide to obtain more information at a later time. • Internet marketing is growing faster than other types of media. Because exposure, response, and overall efficiency of Internet media are easier to track than traditional off-line media—through the use of web analytics for instance—Internet marketing can offer a greater sense of accountability for advertisers.
  13. Limitations • Internet marketing requires customers to use newer technologies rather than traditional media. Low-speed Internet connections are another barrier: If companies build large or overly-complicated websites, individuals connected to the Internet via dial-up connections or mobile devices experience significant delays in content delivery. • From the buyer's perspective, the inability of shoppers to touch, smell, taste or "try on" tangible goods before making an online purchase can be limiting. However, there is an industry standard for e-commerce vendors to reassure customers by having liberal return policies as well as providing in-store pick-up services. • A survey of marketing executives listed the following barriers to entry for large companies looking to market online: insufficient ability to measure impact, lack of internal capability, and difficulty convincing senior management. • Security Concerns
  14. Total Quality Management Total Quality Management means that the organization's culture is defined by and supports the constant attainment of customer satisfaction through an integrated system of tools, techniques, and training. This involves the continuous improvement of organizational processes, resulting in high quality products and services.
  15. Total Quality Management Basic Tenets of TQM • 1. The customer makes the ultimate determination of quality. • 2. Top management must provide leadership and support for all quality initiatives. • 3. Preventing variability is the key to producing high quality. • 4. Quality goals are a moving target, thereby requiring a commitment toward continuous improvement. • 5. Improving quality requires the establishment of effective metrics. We must speak with data and facts not just opinions.
  16. Total Quality Management Quality Throughout • “A Customer’s impression of quality begins with the initial contact with the company and continues through the life of the product.” – Customers look to the total package - sales, service during the sale, packaging, deliver, and service after the sale. – Quality extends to how the receptionist answers the phone, how managers treat subordinates, how courteous sales and repair people are, and how the product is serviced after the sale. • “All departments of the company must strive to improve the quality of their operations.”
  17. Total Quality Management The TQM System Customer Focus Process Improvement Total Involvement Leadership Education and Training Supportive structure Communications Reward and recognition Measurement Continuous Improvement Objective Principles Elements
  18. The Marketing Connect • Long-term success of total quality management (TQM) programmes depends on initiatives which form strong partnerships with marketing activities. • The objective of the partnerships is to integrate customer requirements into programmes. • Relationships with customers and other stakeholders need to be continuously analyzed. • The status of TQM-marketing partnerships is highly variable, with respect to customer understanding. Many remain in their infancy, while others have matured well in a short period. • For the latter group, marketing’s customer voice has become an expanding part of the quality movement to develop products and services that excite customers.