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FM Unit 4 Position
Retail Positioning & MKT Strategies
| Question | Answer |
|---|---|
| merchandising | involves the activities of planning, buying, and selling apparel and accessories |
| store operations | this function is concerned with physically managing and maintaining the store |
| sales promotion | advertising display, public relations, publicity and special events |
| chain stores | group of stores (usually 12 or more) owned, managed, and merchandised and controlled by a central office |
| anchor stores | major chain and department stores that provide the attraction needed to draw customers to shopping centers and malls. |
| boutiques | are small, stand alone shops within larger stores that sell unusual or few of a kind apparel. usually fashion forward and gives one on one customer attention - bridal shops, etc. |
| mail order retailers | selling merchandise through catalogs that they distribute to consumers. also called direct mail marketing. |
| telecommunication retailer | online or televised retailing |
| retail positioning | relates to where a retailer situates itself in the consumer market as compared to the competition. |
| buying motives | reasons why people buy |
| product motives | involve consumer purchases based on qualities or images of certain products |
| patronage motives | involve customers who consistently buy from certain retailers or favor particular stores. |
| direct competition | is between two of more retailers using the same type of business format. Khols and Jc Penney |
| indirect competition | is between two or more relaters using different types of business formats. Example - khols and Walgreens both sell cosmetics, perfumes |
| ambiance | how stores please customers senses forms an atmosphere. Example music, colors, furnishings, etc. |
| assortment breadth (width) | the number of different item categoires or classifications sold by a retailer |
| assortment depth | indicates the quantity of each item available. An assortment of a large number of items in many sizes and colors is thought to be "deep" |
| prestige pricing | is a policy of setting high prices on items to attract customers who want quality goods or the status of owning expensive and exclusive merchandise |
| price promoting | is advertising special price reductions of goods to bring in shoppers |
| everyday low pricing | strategy which involves promoting the store as always having low discounted prices that give good value for the money |
| merchandising policies | management guidelines related to inventory choices |
| operational policies | management guidelines related to physical appearance and customer service |
Created by:
janice ritchey
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