Retail Management

Retail Management Assignment Tranky Ho 1. When a consumer shops at an upmarket furniture store, what factors determine whether the consumer feels that he or she got a sporting value? How does the perception of value differ when that same consumer shops at a discount furniture store? A retail merchant essential ensure that all of its strategic elements are in place. For the shopper segment to which a particular retailer appeals, the total retail experience must be aimed at fulfilling customer expectations-and it must be consistent with those experience. Among the factors that comprise a customer serve well strategy are store hours, packing, shopper friendliness of the layout, credit acceptance, sales mass, conveniences such(prenominal) as gift wrapping, restrooms, employee politeness, etc. 2. Comment on this narrative: Each segment has its own values equation and shops accordingly. misgiving what drives different groups is critical in creating an experience and product offer that satisfies their individual value equations. As to properly develop a strategy mix, a retailer must identify the characteristics, needs, and attitudes of consumers; bring in how consumer make lasts; and enact the proper tar adhere market plan.

It must study environmental influences, too. Consumer behavior is the study of how people defile, what they buy, when they buy and why they buy. It blends elements from psychology, sociology, sociopsychology, anthropology and economics. It attempts to understand the buyer decision processes/buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioural variables in an attempt to understand peoples wants. It also tries to assess influences on the consumer from groups such as family, friends, book of facts groups, and society in general. 3. Do you think that non-store retailing pull up stakes continue to grow faster than store-based retailing?... If you want to get a full essay, order it on our website: Orderessay

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