Launch your PollEV session: Text : UWMBUSINESS to 37607

1. Launch your PollEV session: Text: UWMBUSINESS to 37607 *Text LEAVE at the end of class* Alternate #: (747) 444-3548

2. Test 3 • Class average = 75.9% • 90 – 100 = 12% • 80 – 89 = 34% • 79 & below = 54%

3. Don’t forget to WEIGHTyour points 3 best out of 4

4. Final exam information: • Friday, dec21 @8.30AM, in THIs lecture hall • On Monday, you can let me know if you plan on doing the final (Pollev) – we need to know numbers

6. The Third ‘P’: Retailing and Omnichannel Marketing “All” Ref: Text, chapter 17

7. “Hybrid Store”

10. P P Developing a retail strategy using the four p’s P P

11. Factors for establishing a relationship with retailers

12. 3. Developing a retail strategy using the Four P’s • Product: • Providing the right mix • choice for the customer (30-40,000 items in a grocery store, 100,000 items in a department store) • challenge: how to distinguish yourself as a retailer. By developing Private-label brands, and co-brands

14. Do MORE with LESS

15. 3. Developing a retail strategy using the Four P’s • Product: • Providing the right mix • choice for the customer (30-40,000 items in a grocery store, 100,000 items in a department store) • challenge: how to distinguish yourself as a retailer. By developing Private-label brands, and co-brands

16. price • Role of price for a retailer: price helps define the value of the merchandise, the service, and the store image • Price must always be aligned with the other elements of the retailer’s strategy

20. Promotion =communicating; persuading • Good promotion, both inside the retail environment and in the media, can mean the difference between flat sales and a growing consumer base. • Advertising, sales promotions • Promotion inside the stores: displays and signs, POP or in strategic areas

23. promotion • Once in the store, will consumers buy? • Many retailers are devoting more resources to their overall retail environment as a means of adding value (“fun place to shop”). Music, color, scent, lighting, aisle width, seating, crowding.

25. promotion • Personal selling and customer service reps are part of the overall promotional package. They provide consumers with valuable information and thereby facilitate purchase. Need to be trained well by both retailers and manufacturers

27. More Training = better service • In the US, average training: 7 hours for each new store employee • Mercadona: • Sees training as an INVESTMENT in their people • Invests 4 WEEKS of training and spends 5,000 Euros for each new employee • Result: Customers receive better service

28. place • Many customers choose stores on the basis of where they’re located • Options that retailers experiment with: free-standing stores; or where there’s a captive market (for e.g., in an airport)

29. Sales: $1,750 per sq. foot

32. “Webrooming” Benefits of stores for consumers “Showrooming” • Browsing • Touching and feeling products • Personal service • Cash and credit payment • Entertainment and social experience • Immediate gratification • Risk reduction

33. Benefits of Stores for Consumers • Browsing • Touching and Feeling • Personal Service • Cash and Credit • Entertainment and Social Interaction • Instant Gratification • Risk Reduction

34. Benefits of the Internet and Omnichannel retailing • Deeper and broader selection: retailers’ websites can offer deeper assortments (more colors, brands, sizes) and wider assortments (more categories) • Personalization: (personalized customer service e.g., online chat; personalized offering e.g., making recommendations to the shopper, personalized pages, promotions)

35. Benefits of the Internet and Omnichannel Retailing

36. Benefits of the Internet and Omnichannel retailing • Gain valuable insights into consumer shopping behavior • Increase customer satisfaction and loyalty: introducing an Internet channel may lead to some cannibalization. However, a growing segment of shoppers increase their spending and share of customers’ walletsgarnered by a retailer • Expand market presence

39. Key concepts/ terms to know Retailing – definition Multichannel strategy Factors for establishing a relationship with retailers Distribution intensity Types of retailers: food (supermarket, supercenter, convenience warehouse club), general merchandise (department, full-line discount stores, specialty stores, drugstores, category specialists, extreme value retailers, off-price retailers), and service. • Developing a retail strategy using the Four P’s • Benefits of stores for consumers • Benefits of the Internet and Multichannel retailing

41. The Fourth ‘P’: Integrated Marketing Communications (“IMC”) Ref: Text, chapter 18 (and chapter 19)

42. In this topic, we will: • Identify the components of the communication process • Explain the four steps in the AIDA model • Describe the various integrative communication channels • Explained the various ways used to allocate the IMC budget • Identify marketing metrics used to measure IMC success

43. “PRODUCT” (Value) 4th P(Promotion) communicating Value Seller Buyer VALUE

44. “Promotion*” = Communication** *in Marketing **Persuasive

45. 4thP: Mediated, ftf “PRODUCT” (Value) M E D I A Seller Buyer VALUE

46. Integrated Marketing Communications (IMC) “Noise” Sales Promotions

48. Noise! 5,000-10,000 Brand Exposures/ day, 3,500+commercial messages

49. Integrated Marketing Communications (IMC) “Noise” Sales Promotions

50. IMC • IMC (Integrated marketing communications) represents the promotion P of the 4P’s • Promotion = communication