Nobody downloaded yet

Three Original Combinations in Retail Markets - Essay Example

Comments (0) 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 paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Three Original Combinations in Retail Markets
Read TextPreview

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 pagesRead 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
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Three Original Combinations in Retail Markets

Retail

...that there is growth in the multi-culturism in America and thus by the year 2015 the US population is expected to be more diverse (PwC, 2012). Domestic and International Ethics The products of the Coach, Inc are sold to global wholesale distributors as well as authorized retailers. The company has created good relation with the particular group of distributors whose main task has been to sell the product of Coach, Inc through department stores as well as self-supporting retail locations in various countries. The company’s current network related to international distributors tend to serve numerous markets such as Saudi Arabia, France, Hong Kong, China, Bahrain, New Zealand, the United...
12 Pages(3000 words)Research Paper

Original topic

...the equality between Whites and Blacks. Both parties were to access public services equally rather this is not the case since divisions are permeating. Accompanying these divisions is the American Identity paradox. The society has two avenues of foundation, one is on the principles of justice, and equality and the other are on the traditional racism and popular slavery traditions. Although this situation may somehow reflect original cultural and political events, the psychological factors that determine this challenge are pervasive and enduring. Both within and beyond America, the undetermined globalization brings in new psychological, social and economical challenges for the host. With reference to the recently observed...
3 Pages(750 words)Essay

Original topic

...? The Hidden Curse of the Internet s Humans are social beings just like the ants or the bees, they may not be living in colonies or communicating through chemicals, but in case of humans, vocal communication is the main point of being a social being. In his article, “Isolated by the Internet”, Clifford Stoll, discusses in depth about the negative impact that the internet has had on our social and our personal lives. He does present a well written piece where he analyzes his perspective from all possible dimensions and even present a few positive effects of the internet. He uses extensive research and presents the works of eminent psychologists like Robert Krant and Vicki Lundmark and data from Universities to prove... The Hidden Curse of the...
3 Pages(750 words)Essay

Original Cases

...of courses of action by which the prevailing issues of the institution can be addressed. Among the three alternative courses of action, it is believed that the last strategy mentioned above is more efficient, logical as well as ethical. Moreover, it has the capability to address all the arising problems of the institution. Streamlining the process of appointing executives in the governmental organizations is the most competent way to attract the local people and develop a sound organizational culture. The management process will also improve and will allow the institution to meet the needs of the Abu Dhabi police. Moreover, this strategy will allow the institute to remain fairly transparent in their approach of...
8 Pages(2000 words)Research Paper

Entry into Chinese and Indian Retail Markets

...economic efficiency. This has resulted in improving the economic conditions of the people in general, thus increasing their purchasing power. The retail fashion market has shown significant growth, as a number of international brands have entered into China. Just as recently a March 7, 2007 European fashion retailer C&A made its debut4 in China. Wal-Mart operates more than 70 stores in 36 cities of China. Now it has also entered into a strategic alliance with the local Trust-Mart. India: The IT Hub and a Promising Economy India is the largest democracy and has the 'distinction' of having population levels second only to China. During the last century while the world's population...
5 Pages(1250 words)Essay

UK Food and Grocery Retail Markets

...Micro-environment of UK Food and Grocery Retail Markets Total Number of Words: 798 Introduction As the third largest expenditure next to housing and transportation, the total worth of UK retail grocery market has significantly increased from '123.9 billion in 2006 to '128.2 billion in 2007. (Vasquez-Nicholson, 2007; Nicholson, Wilson, & Knight, 2006) In relation with the importance of UK food and retail grocery market, the microenvironment of the said industry will be analyzed using the Porter's Five Forces. In the process of going through the main discussion, qualified secondary research materials such as the industry status as published by Gain report will be included in the study. Porter's Five Forces Potential Market Entrants... ...
4 Pages(1000 words)Research Proposal

Business Combinations

...IASB AND FASB a. To the FASB and IASB have established that an identifiable intangible asset can be measured reliably and should be recognized separately from goodwill. They also agree that an identifiable intangible asset attained in a business combination should be measured at a current exchange value rather than at an entity-specific value. In addition, it was decided that the final Statement should provide accounting guidance for the purchaser for both intangible assets that will not be used in a traditional manner as well as intangible assets that will be used for a period less than their useful life. According to the FASB's website, this project is being deliberated due to the fact that the guidance provided in Statement 141... is...
2 Pages(500 words)Essay

Retail Marketing (retail development)

...of Retail Marketing Introduction Retailing is a very important concept in the current business world though it keeps on changing and taking new forms every now and then. The distribution of consumer goods and services starts with the producer and moves through various channels to reach the final consumer. The channels that the products go through between the producer and the ultimate consumer involve people called middlemen also known as retailers. Retailing is hence described as the convincing set of activities or events that ensures a product is sold to the consumer for their final use and to satisfy their needs. This is the process of matching the...
13 Pages(3250 words)Essay

The Effectiveness of Different Lidocaine Combinations

...Pain Management in Dentistry: The Effectiveness of Different Lidocaine Combinations Local anesthesia has been used in the field of dentistry to alleviate, if not to eliminate, pain which is inevitable in many dental procedures most especially in invasive ones. There are several substances used by dentists and dental hygienists in inducing anesthesia. In the United States, the most commonly used anesthetic substance is lidocaine which is delivered through inferior alveolar nerve block (as cited in Kanaa, Whitworth, Corbett & Meechan, 2009). However, the success rate of inducing anesthesia varies to the point that it can go as low as 30% (as cited in Kanaa et al., 2009). In an attempt to increase the effectiveness of...
4 Pages(1000 words)Research Paper

Retail

...goods to the doorstep of buyer’s doorstep (O’Brien and Harris, 2012). The community gains from retailing as retail enterprises conduct marketing roles that make it likely for consumers to make use of a wide range of commodities and services. A second critical role played by retailing in contemporary society is availability. Commodities and services do not have value for consumers until they acquire and use them. Retail enterprises get commodities and services from various locations, categorize them at one point in line with consumer needs, and foster consumer availability. Retailing is also a critical part of modern society because of...
5 Pages(1250 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.

Let us find you another Essay on topic Three Original Combinations in Retail Markets for FREE!

Contact Us