8 chapter 8 information gathering and processing in retailing
Post on 20-Dec-2015
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Chapter Objectives
To examine the retail information system, its components, and recent advances
To investigate secondary data sources
To explore retail image research
Retail Information System
-note micromarketing
Data Mining and Politics
Gathering Information Through:-UPC (Universal Product Code)/EAN-13,
-RFID (Radio Frequency Identification),
-EDI (Electronic Data Interchange)
Manufacturer Item
*Omit “The Marketing Research Process except for Secondary Data Sources and Mystery Shoppers
Suppliers Need To KnowFrom the RetailerFrom the Retailer Estimates of
category sales Inventory turnover
rates Feedback on
competitors
Level of customer returns
From the CustomerFrom the Customer Attitudes toward
styles and models Extent of brand
loyalty Willingness to pay
a premium for superior quality
Retailers Need To Know
From the SupplierFrom the Supplier Advance notice of new models
and model changes Training materials Sales forecasts Justifications for price changes
From the CustomerFrom the Customer Why people shop there What they like and dislike Where else people shop
Consumers Need To KnowFrom the SupplierFrom the Supplier Assembly and
operating instructions
Extent of warranty coverage
Where to send a complaint
From the RetailerFrom the Retailer Where specific
merchandise is stocked in the store
Methods of payment acceptable
Rain check and other policies
Figure 8-2: A Retail Information
SystemData-Base
Management
A major element in an RIS System gathers, integrates, applies, and stores information in related subject areas-Used for:• Frequent shopper
programs• Customer analysis• Promotion evaluation• Inventory planning• Trading area analysis
Anticipates the information needs of retail mgrsCollects, organizes, and stores relevant data on a continuous basisDirects the flow of information to the proper decision makers
Figure 8-4: Retail Data-Base
Management in Action
Data mining is the in-depth analysis of information to gain specific insights about product categories, vendors, customers, and so forth
Micromarketing is an application of data mining, whereby retailers use differentiated marketing and develop focused retail strategy mixes for specific customer segments
Secondary Data SourcesInternalInternal Sales reports Billing reports Inventory records Performance reports
ExternalExternal Data bases
– ABI/Inform, etc. Government
– U.S. Census of Retail Trade
– Statistical Abstract of the U.S.
– Public records
Interesting Sites
Virtual Shopper Demographics
Geodemographics Commercial Site
Design&Merchandising Fashion
Image Research*
A. Definition, Components of Store Image
B. Target Audience, esp. Multiple Segments
C. Measurement
a. Assume Expectancy-Value Multi-Attribute Model
b. Determine Important Attributes
c. Define Competition, Sample
d. Rate Important Attributes
e. Compile Respondent Characteristics
f. Analyze Results
Concept TestingChapter Eight Discussion Questions: 5, 6, 8, 10, 11