StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Three Original Combinations in Retail Markets - Essay Example

Cite this document
Summary
In this short essay, the author presents the strategic considerations in retail combinations and three original ideas of retail combinations that are not yet prevalent. In the end, the author has presented few discussion points.
Smith and Agrawal (2000. pp50) presented the key customer orientation factors in retail stores as delivery speed, cost, quality, customization, personal attention, product variety, etc…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.6% of users find it useful
Three Original Combinations in Retail Markets
Read Text Preview

Extract of sample "Three Original Combinations in Retail Markets"

Download file to see previous pages

Murthi and Sarkar (2003. pp1344-1345) presented personalization framework for customers that comprises of learning matching and evaluation as per customer preferences. The combinations in retail stores should be planned carefully in such a way that they can be combined to present packages through personalization process that delight the customers given that the overall outcome fits a bigger picture in customer's mind. In the next section, three original ideas of combinations are presented. Verhoef (2003. pp32-33) proved the hypotheses that affective commitment positively affects customer retention.

Personalization process effectively results in customers feeling connected to the firm and hence guarantees their long term loyalty. Combination 1: Consumer electronics, computers and furniture: This combination appears to be completely irrelevant with each other because all the three have different purposes and requires different sales skills. However, when viewed from personalization perspective now-a-days many consumers combine the computers & laptops with electronics items like televisions, cameras, handicams, surround sound systems, etc.

and normally struggle with their integration aspects. If they are displayed with different integration combinations consumers can be delighted to get ready solution in one shop. Also, many consumers are concerned about the aesthetic combination of their computers, television sets and furniture - like type & look of chairs to sit & view digital cinema in flat screen TVs plugged into a laptop and surround speakers deployed around the chairs. Such aesthetics can be demonstrated by the sales people by building on the spot combinations.

Combination 2: Sanitary items, Wall Paints, Furniture & Cupboards: This might appear to be irrelevant combination as well but can give lot of new ideas to consumers that are designing the interiors of their homes. A computer graphics operator can show various colour combinations of furniture, cupboards, wall & roof colors and flooring patterns. Customers can decide on the best combination quickly such that the appropriate package can be designed by selecting the right furniture/cupboard looks, wood (or metal polish), wall paints, roof paints, surface graphics, floor tiles etc.

What might take weeks for customers to decide can happen in just a few hours. Such stores can also offer packaged services whereby all the items selected can be deployed at customer's home by single team of professionals having the view of the bigger picture.Combination 3: Wall paints, Art Paintings, Antiques, Carpets, and Wall Mountable clocks: Traditional customers are very particular about giving an artistic look to their homes with various tastes of matching among Wall Colors, Art Paintings, Carpets, Antiques and Wall Clocks.

In this combination, the author imagines about a store where world class

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Three Original Combinations in Retail Markets Essay”, n.d.)
Three Original Combinations in Retail Markets Essay. Retrieved from https://studentshare.org/miscellaneous/1533130-three-original-combinations-in-retail-markets
(Three Original Combinations in Retail Markets Essay)
Three Original Combinations in Retail Markets Essay. https://studentshare.org/miscellaneous/1533130-three-original-combinations-in-retail-markets.
“Three Original Combinations in Retail Markets Essay”, n.d. https://studentshare.org/miscellaneous/1533130-three-original-combinations-in-retail-markets.
  • Cited: 0 times

CHECK THESE SAMPLES OF Three Original Combinations in Retail Markets

Convergence Culture Argumentation

Although some, may refer to their work as not being original.... Name: Institution: Professor: Date: Convergence Culture Argumentation Introductory paper Opening the symposium discussion on benefits and drawbacks of convergence culture Introduction We are living in an era where media is every where and we use all kind of media in relation to one another Definition Media convergence is the combination of old a new media in a single piece of media work....
4 Pages (1000 words) Essay

Mark and Spencer Strategy

The management needs to address this issue by looking at some of the factors affecting the consumers' attitudes, tastes and preferences in local and foreign markets.... The management needs to address this issue by looking at some of the factors affecting the consumers' attitudes, tastes and preferences in local and foreign markets....
9 Pages (2250 words) Essay

The Expansion of Ski Dubai to Ski Kuwait

Located conveniently at the heart of Dubai's largest retail center, Ski Dubai provides indoor skiing grounds, rings and resort facilities.... The Expansion of Ski Dubai to Ski Kuwait: A Comparative Business Report Executive Summary: This paper would propose the comparative business studies and strategies involving the shifting of the famous Ski Dubai, a premier ski resort, attached to the equally famous Emirates Mall of Dubai, to the Avenues Mall of Kuwait....
12 Pages (3000 words) Essay

Showing the Customer Who's Boss

The author analyzes the marketing strategy of Hugo Boss and states that it used effective marketing techniques to continue to grow the brand by entering new markets.... nbsp;… The German retail company, Hugo Boss, has for years been a powerful name in upscale men's clothing.... Efficient marketing plays an important role in the success of any retail company.... "Store image is a very important factor for effective retail marketing because it can exert a major influence on consumer patronage patterns" (Rosenbloom 1981 p....
6 Pages (1500 words) Assignment

Wal-Mart's Entry into Chinese Retail Market

Interior provinces, on the other hand, have underdeveloped markets plagued by low incomes and a lack of sufficient infrastructure and investment (Lai 2002).... In order to make a successful entry into the relatively untapped Chinese retail market, Wal-Mart leadership faced a challenge nearly as great as that which faced Sam Walton during his debut as a budding entrepreneur in a small town in rural Arkansas.... The Chinese retail market is growing at an extraordinary pace, especially in coastal areas....
9 Pages (2250 words) Essay

Apple's Entry into the Mobile Phone Market

Lifestyle products have seen many takers from a variety of income and social backgrounds in the recent past.... This has triggered various empirical studies into… The branding and positioning of a high end lifestyle product like the Apple Phone which is not just another mobile phone - is of utmost importance The Apple phone was launched on the 29th of June, 2007 by Apple Inc and a higher version of the same model made its way into the hearts and minds of the consumers during July, 2008 amid widespread media coverage the world over....
12 Pages (3000 words) Essay

Application of Isocost, Isoquant and Classic Model in the Economy

An isocost line is a line showing combinations of inputs that would yield the same cost.... iven a production function, an isoquant is "the locus of input combinations that yield the same output level.... If the ratio of two or more of the factors of production is changed then the resulting yield of those input factors can be the same for all of the combinations of factors.... he above figure shows different levels of labor and capital required to produce a certain output of a particular product and the curve shows that different combinations of input resources can be made to get an output of a predetermined rate....
5 Pages (1250 words) Lab Report

Expenditure on Mobile Phones

The mobile phone market is expected to grow by 2% in retail volume compared to its review period which witnessed a 40% growth in the earlier period.... Samsung retained its leader position in the smart phone market in Australia with more than 32% retail market share....
6 Pages (1500 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us