Retail marketing management

Cover......Page 1
Retail Marketing Management......Page 4
Contents......Page 6
About the contributors......Page 10
Preface......Page 12
Acknowledgements......Page 13
 The Retail Environment ......Page 16
 The Growing Importance of the Retail Industry ......Page 17
 Retail Definition ......Page 21
 The Dynamic Nature of Retail Change ......Page 23
 The Structure of Retailing in the UK and Europe ......Page 30
 Conclusion ......Page 31
 Exercises ......Page 32
 References and Further Reading ......Page 33
 Retailing and Marketing ......Page 35
 Need for a Strategic Approach ......Page 36
 The Development of Marketing ......Page 42
 Definitions and Concepts of Marketing ......Page 46
 The Differences Between Marketing and Selling ......Page 49
 Marketing Management Tasks ......Page 50
 The Adoption of Marketing ......Page 51
 The Marketing Environment of the Company ......Page 52
 Alternative Business Philosophies ......Page 54
 Marketing Orientation ......Page 56
 Conclusion ......Page 58
 Exercises ......Page 59
 References and Further Reading ......Page 60
 Consumer Behaviour in the Retail Context ......Page 61
 The Main Theories of Consumer Behaviour ......Page 66
 The Buying Decision Process and the Implications for Retail Management ......Page 70
 Understanding Motivation – Maslow’s Hierarchy Model ......Page 80
 Demographic Factors ......Page 82
 Socio-economic Categories ......Page 86
 Role and Family Influence ......Page 89
 Social Influence ......Page 97
 Conclusion ......Page 98
 Exercises ......Page 99
 References and Further Reading ......Page 100
The Management of Service and Quality in Retailing ......Page 102
 What Constitutes Retailing? ......Page 103
 The Service–product Concept ......Page 104
 The Intangible–tangible Product Continuum ......Page 105
 A Classification of Service and Quality ......Page 107
 Implementation of Service Management ......Page 112
 Why There is Growing Emphasis on Control of Quality ......Page 115
 What are the Key Terms for Quality? ......Page 116
 Characteristics of Quality ......Page 117
 Quality Auditing Systems ......Page 119
 Is Quality a Cost or a Long-term Benefit? ......Page 121
 Exercises ......Page 124
 References and Further Reading ......Page 125
The Retail Marketing Mix and the Retail Product ......Page 127
 The Marketing Mix for Services – Are the Four Ps Sufficient? ......Page 128
 Target Markets ......Page 131
 A Breakdown of Retailing as a Product ......Page 133
 Store Layout ......Page 139
 Conclusion ......Page 146
 Exercises ......Page 147
 References and Further Reading ......Page 148
 What is Merchandise Management? ......Page 150
 Methods of Planning and Calculating Inventory Levels ......Page 152
 Merchandiser Skills and Profile ......Page 156
 Category Management ......Page 159
 Range Planning ......Page 161
 Space Allocation ......Page 165
 Merchandise Assortment and Support ......Page 168
 Conclusion ......Page 169
 Exercises ......Page 170
 References and Further Reading ......Page 171
 Understanding Price as a Concept ......Page 172
 Price Sensitivity ......Page 173
 Further Factors Influencing Pricing ......Page 176
 Approaches to Pricing the Retail Product ......Page 177
 Pricing and the Relationship to Value ......Page 182
 Markdown Policy Considerations for Retailers ......Page 185
 Exercises ......Page 187
 References and Further Reading ......Page 188
 Setting Objectives ......Page 190
 Communication Effects ......Page 193
 Advertising ......Page 194
 Sales Promotion ......Page 201
 Relationship Marketing and Loyalty Schemes ......Page 203
 Personal Selling ......Page 214
 Public Relations ......Page 216
 Other Important Promotional Tools ......Page 219
 Characteristics of Promotions ......Page 221
 Conclusion ......Page 222
 Exercises ......Page 223
 References and Further Reading ......Page 224
Retail Distribution and Supply Chain Management ......Page 226
 Channels and Channel Flows ......Page 227
 The Supply Channel ......Page 228
 Growth of Channel Relationships and Partnerships ......Page 230
 Retail Logistics ......Page 232
 Retail Logistics – the Cost Structure ......Page 234
 Corporate Replenishment Policies ......Page 239
 Internet and Direct Distribution Systems ......Page 242
 Exercises ......Page 245
 References and Further Reading ......Page 246
Methods and Approaches to Retail Strategy and Marketing Planning ......Page 248
 Problems That May Arise if Retail Planning is Ignored ......Page 250
 The Purpose of a Marketing Plan ......Page 251
 Reasons for Poor Planning Experiences ......Page 252
 The Corporate Mission and Goals ......Page 255
 Understanding the Forces of Industry Competition ......Page 257
 External and Internal Audit ......Page 260
 Business Situation Analysis ......Page 261
 Creating the Objectives ......Page 269
 Providing an Effective Marketing Mix Strategy ......Page 286
 Monitoring the Plan ......Page 287
 Exercises ......Page 288
 References and Further Reading ......Page 289
Retail Location Strategies and Decisions ......Page 291
 Geographic Location Decisions ......Page 293
 Explanations for the Spatial Distribution of Retail Activities ......Page 297
 Location Site and Types of Retail Development ......Page 302
 Locational Techniques ......Page 307
 Catchment Area Analysis ......Page 309
 Regression Analysis ......Page 311
 Retail Property Development ......Page 314
 The Leasing of a Retail Outlet ......Page 315
 Conclusion ......Page 316
 References and Further Reading ......Page 317
The Management of a Retail Brand ......Page 319
 Definition of a Brand ......Page 321
 The Role of the Brand ......Page 322
 Brand Loyalty ......Page 323
 Positioning of a Brand ......Page 324
 Personality of a Brand ......Page 327
 Consumers’ Concept of ‘self-image’ ......Page 331
 Brand Proposition ......Page 332
 Brand Name ......Page 333
 Brand Awareness ......Page 334
 Managing Brands over Their Life Cycles ......Page 335
 Successful Brands ......Page 336
 Brand Updating ......Page 338
 Own-brands ......Page 340
 Corporate Branding ......Page 344
 Types of Brand Extension ......Page 345
 Exercises ......Page 349
 References and Further Reading ......Page 350
 The Growing Role of Information Technology in Retailing ......Page 352
 Information Technology – Some Explanations and Definitions ......Page 353
 IT for Competitive Advantage......Page 354
 Capturing and Transmitting Data at the Point of Sale ......Page 361
 Database Marketing, Data Mining and Business Intelligence ......Page 363
 Business E-Commerce and Data Communications......Page 365
 Electronic Retailing ......Page 369
 Future Trends ......Page 380
 Exercises ......Page 383
 References and Further Reading ......Page 384
Consumerism and Ethics in Retailing ......Page 387
 The Different Pressures for a Company to be Socially Responsible......Page 388
 Criticism of Marketing Activity ......Page 393
 Product Misuse and Safety Issues ......Page 399
 Green Issues ......Page 400
 The Acceptability of a Societal Marketing Approach ......Page 402
 Corporate Social Responsibility ......Page 404
 Conclusion ......Page 408
 References and Further Reading ......Page 409
 The Move to International Retailing ......Page 411
 The Development of International Retailing ......Page 412
 International Retailing: a Definition ......Page 415
 International Retail Structures ......Page 419
 Motives and Reasons for Internationalization ......Page 421
 Direction of Expansion ......Page 429
 Market-entry Methods ......Page 432
 Typologies of International Expansion ......Page 436
 Conclusion ......Page 437
 References and Further Reading ......Page 438
The Future of Retailing ......Page 441
 Improved Understanding of the Key Changes ......Page 442
 More Emphasis Placed upon Brand, Image and Positioning ......Page 448
 Emerging Trends in IT......Page 450
 The Physical Aspects of Retailing ......Page 452
 Company Learning Curves ......Page 454
 References and Further Reading ......Page 456
Index......Page 458