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