Retail Strategy Ch 4 (Exam 1)

vending machine

Automated retailing machines

e-commerce

Brick-and-Mortar or E-Commerce? Deeper & broader selection, More information, Personalization, 24/7 hours, COVID-19

brick-and-mortar

Brick-and-Mortar or E-Commerce? Tactile senses - tangible, Immediate gratification, Social experience, Cash payment, More personal service

live chat

Customers can click a button at any time and have an instant messaging e-mail or voice conversation with a customer service representative

Brick, Direct, commerce, Television, Catalog, Vending

What are the 6 Channels? _____-and-Mortar _____ Selling E-_____ _____ Home Shopping _____ and Direct Mail _____ Machines

catalog channel

a nonstore retail channel in which the retail offering is communicated to customers through a catalog mailed to customers

direct selling

a retail channel in which salespeople interact with customers face to face in a convenient location, either at the customer's home or at work

cross-channel retailing

customers actually use multiple channels to make purchases (Ex. when they receive an e-mailed coupon, download it onto their smartphone, and then go to a brick-and-mortar store to redeem the coupon and buy the product)

retail channel

defines the way a retailer sells and delivers merchandise and services to its customers

social retailing

enables purchase transactions through a social media site

m-commerce, mobile commerce, mobile retailing

implies accessing the Internet using a tablet or smartphone

single-channel retailing

implies that retailers sell and deliver merchandise and services to their customers through only one channel

internet retailing

involves retailers interacting with consumers via the Internet, whether they use a traditional computer or a laptop, a variety of sizes of tablets, or a smartphone

showrooming

occurs when a consumer goes into a store to learn about different brands and products and then searches the Internet for the same product sold at a lower price

omnichannel retailing

refers to a coordinated multichannel retail offering that provides a seamless and synchronized customer experience, using all of the retailer's shopping channels

automated retailing

retail channel in which merchandise or services are stored in a machine and dispensed to customers when they deposit cash or use a credit card

boundaryless retailing

the idea that the point of sale is at the customer such that the consumer shopping experience can happen anywhere through the use of various technologies

channel migration

when customers gather information from one of a company's channels, then buy from a channel hosted by a competitor

multichannel retailing

when retailers offer more than one channel to sell and deliver merchandise and services to consumers