2013/2014 RETAIL MARKETING: NEW PERSPECTIVES

Transcription

1 2013/2014 RETAIL MARKETING: NEW PERSPECTIVES Instructor: Dr. Mayo De Juan Vigaray 1. INFORMATION ABOUT THE INSTRUCTOR COURSE DESCRIPTION, OBJECTIVES & CONTENT LEARNING METHODS ASSESMENT BIBLIOGRAPHY DISCLAIMER INFORMATION ABOUT THE INSTRUCTOR Instructor: Dr. Mayo De Juan Vigaray. Associate Professor of Marketing. UA (Spain) Office Hours: by appointment before of after class or by Phone/fax: (3167) mayo@ua.es Office: Office 0031PB009. Marketing Department Business Faculty (Next to the library of economics, ground floor). University of Alicante. E San Vicente del Raspeig. (Alicante, Spain) 2. COURSE DESCRIPTION, OBJECTIVES & CONTENT COURSE DESCRIPTION: This course will familiarize students with the decisions and strategies involved in running a retail firm in national and international markets. In the first part attention is devoted to retail strategy, company s competitive sustainable advantage, merchandising and, customer service. In the second part, new perspectives in retailing are reviewed such as experiential marketing. Finally,

2 luxury marketing and retailing is reviewed. Methodology includes case study resolution in class and presentations. Retailers are increasingly looking to international markets for growth opportunities. For example: Carrefour, France s hypermarket chain, is secondlargest retailer in the world, (following Wal-Mart) and operating in 25 countries. To compete globally, retailers must be tuned to the needs of their local markets but exploit the scale economies gained through centralized and common systems. Furthmore, the luxury sector behaves in a particular manner. Finally, experiential marketing and digital marketing are causing a revolution in consumer behaviour that affect the retail sector. In this context, Retail Marketing is a core module designed to build on the student s critical knowledge of retailing in the marketing field. COURSE OBJECTIVES: The main course objective is to make students able to design a retail strategy plan that is the overall framework of actions that guides a retailer. The retailer has to plan for and adapt to a complex and changing environment. Consumers buying behavior changes quickly, it is essential to understand their expectations to segment the market and to adapt retailer positioning. Experiential marketing can help the retailer in doing that. This course examines the importance of experiential marketing and the atmospherics and visual merchandising and describes how a retail store image is conveyed to consumers. These concepts are combined with the customer service. Luxury sector is analyzed. Thus, on completion of this unit the student should be able to: 1. Acquire a global overview of Retail Marketing. 2. Recognize the key points of a good designed Retail Marketing Strategy. 3. Produce a store report based on the retail image, target market and competitive sustainable advantage, along with the main characteristics of the store considering the experiential marketing. 4. Learn the importance of experiential marketing in retailing 5. Learn the insights of the Luxury sector in retailing.

3 CONTENT Part 1 Introduction How retailers add value; Target market, Retail format and competitive sustainable advantage. Strategic Retail Planning process. Part 2 Atmospherics: Exterior Design of a store store front elements Atmospherics. Store General Interior & Interior displays Interior display, merchandise presentation techniques, visual merchandise, assortment, category management. Atmospherics. Store Layout Allocation of floor traffic flow, studies Customer Service Standard vs. Customize customer service. GAPs model for improving retail service quality. One step forward in customer service. Part 3 Experiential Marketing & In-store marketing The roots of experiential marketing The characteristics of experiential marketing The concepts of experience and consumption experience Successful experiential marketing case studies; Part 4 Luxury firms in the retail arena Major luxury sectors; Luxury brands; Luxury client; Luxury retailing; Luxury communication Managing luxury brands The new luxury OBJECTIVES This part answers the following questions: - What's retailing? - What is a retail strategy? What steps do retailers go through to develop a strategy? - How can a retailer build a sustainable competitive advantage? These parts answer the following questions: - What are the critical issues in designing a store? - What are the alternative methods of store layout? - How is space assigned to merchandise and departments? - What are the best techniques for merchandise presentation? - What services do retailers offer customers? - How can customer service and merchandising build competitive advantage? In this part students will learn how to: - Evaluate the level of experientiality of a brand, as well as the quality of the experience delivered - Develop a marketing plan to deliver an experience - Develop a research plan to examine consumers' experiences with a brand - Understand and work in the luxury industry; i.e. its history, luxury products, luxury brands, consumer needs, distribution strategies. Luxury goods and lifestyle purchases In this part students will: - Understand and work in the luxury industry; i.e. its history, luxury products, luxury brands, consumer needs, distribution strategies. Luxury goods and lifestyle purchases 3. LEARNING METHODS a. Lectures will be used to provide the conceptual framework. Students will be provided with the materials for every lecture. Every subject will be applied illustrating with selected case studies. b. Emphasis will be given to student centred activities during the class, theoretical and practical sessions. This is why Attendance and Class Participation are very important to your success in this class.

4 c. Team work will include a group presentation in class, as well as several case study analysis. The students will be organized in mixed groups of students. I prefer to have teams formed by the students coming from different nationalities and/or cultures to expose the different facets and perceptions. However, you can feel free to form your group. Office and class hours will be used to supervise the final group project. d. Extra activities: DVD and, when possible, visiting stores will supplement the student activities, to ensure that a thorough knowledge and appreciation of current issues in retailing is gained. e. Mini-cases, will be submitted by students. 4. ASSESMENT Attendance and participation (at least 80% of the total sessions.10% Retail store presentation and report (in group) % Participation in class: individual & group cases and activities (*)...40% Final exam...10% Students are encouraged to participate in class, interacting with the lecturer and when your classmates present or the cases are solved in class. You will have many opportunities to participate: I am always open to questions, and eager to hear from you. Questions, especially during the lectures help you, and everyone in class, learn the material much more effectively. As a group member you will have chances to participate during your and other group presentations and cases resolution, as well as in the practical sessions. Please, you learn by doing, by questioning, by participating. PLEASE NOTE - Non-attendance at a student s own presentation will result in a failure of that assignment (if difficulties are preview, please contact the instructor in advance). - Students who do not hand in their work on time will lose 20% of their mark. 5. BIBLIOGRAPHY Chandon, P., Hutchinson, J. W., Bradlow, E. T., & Young, S. H. (2009). Does In-Store Marketing Work? Effects of the Number and Position of Shelf Facings on Brand Attention and Evaluation at the Point of Purchase. Journal of Marketing, 73(6), 1-17.

5 Dellaert, B. Arentze, T. & Timmermans, H. (2008). Shopping context and consumers mental representation of complex shopping trip decision problems. Journal of Retailing, 84(2), De Juan Vigaray, M.D. and Beyza Gültekin (2008) Retail Merchandising and Sales Promotions Chapter in Global Business Handbook: The Eight Dimensions of Business ; Ed. Newlands, D. and Hooper, M. Gower (Ashgate Gower Group), Londres. (Provided by the instructor). ISBN: Dulsrud, A., & Jacobsen, E. (2009). In-store Marketing as a Mode of Discipline. Journal of Consumer Policy, 32(3), 203. ECR Europe. (2011). The Consumer and Shopper Journey Framework. ECR Europe. GMA/Deloitte. (2007). Shopper Marketing: Capturing a Shopper's Heart, Mind and Wallet. Washington: The Grocery Manufacturers Association. GMA/Deloitte. (2008). Delivering the Promise of Shopper Marketing: Mastering Execution for Competitive Advantage. Washington: The Grocery Manufacturers Association. Luxury Fashion Branding: Trends, Tactics, Techniques - Okonkwo U. Palgrave Mcmillan Retail Commission on Shopper Marketing (2010). Shopper Marketing Best Practices: A Collaborative Model for Retailers and Manufacturers. In- Store Marketing Institute. Risom, S. & Valkenburgh, G. (2008). Dealing with feelings. Progressive Grocer. Vol. 87, Iss. 6; 60. Sansolo, M. (2010). Illogic inside the mind of the shopper. In M. Stahlberg & V. Maila (Eds.), Shopper Marketing: how to increase purchase decisions at the point of sale (pp ). Kogan Page. Schneider, B. & Rau, G. (2009). Shopper Marketing: 5 strategies for connecting with shoppers at the point of decision. Aisle7. Shankar, V. (2011). Shopper Marketing. Marketing Science Institute. Massachusetts. Shankar, V., Inman, J., Mantrala, M., Kelley, E. & Rizley, R. (2011). Innovations in Shopper Marketing: Current Insights and Future Research Issues. Journal of Retailing, 87S (1), S29 S42. Diamond, J. and Diamond, E. (2007) «Contemporary Visual Merchandising and Environmental» Design:3/e Ed. Prentice Hall. ISBN-10: ISBN-13: Dioux, J. (2003)! «Le guide du Merchandising: méthode en 36 actions interactives», Editions D Organisation, Paris. Dunne, P. Lusch, R. and Griffith, D.A. (2002) 4 th edition Retailing Publisher: South-Western Thomson Learning, Easterling, C., Jernigan, M. and Marshall, S. (2003) Merchandising Mathematics for Retailing:3/e Ed. Prentice Hall ISBN-10: ISBN-13: Easterling, C.and Jernigan, M (1990) «Fashion Merchandising and Marketing:1/e Ed. Prentice Hall. ISBN- 10: ISBN-13: Moore, E. (2005) Math for Merchandising: A Step-by-Step Approach:3/e Ed. Prentice Hall ISBN-10: ISBN-13: Levy, H. and Weitz, B. (2004) 5th European Edition Retailing Management, Publisher: Irwin, Chicago. Levy, H. and Weitz, B. (2001) 4th edition Retailing Management, Publisher: Irwin, Boston.

6 Masson, J.E and Wellhoff, A. (1997) Merchandising, rentabilidad y gestión del punto de venta Ed. Deusto, Bilbao. Mounton, D., (2000) Merchandising estratégico Publisher: Gestion 2000 Palomares, R. (2001), Merchandising: Cómo Vender más en Establecimientos Comerciales, Ediciones Gestión 2000, Barcelona. Salen, H. (1994) Los secretos del merchandising activo Díaz de Santos. Valencia, V. Escaparatismo e imagen comercial exterior ESIC 2000 Wellhoff, A. and Masson, J.E. (2003) Le Merchandising : Bases, nouvelles techniques, Category Management, Dunod, Paris. Schmitt, Bernd H. and David Rogers (eds.) (2008), Handbook on Brand and Experience Management, Boston: Elgar Publishing.- Schmitt, Bernd H. (1999), Experiential Marketing: How to Get Customers to Sense, Feel, Think, Act, Relate to Your Company and Brands. New York: The Free Press.- Pine, Joseph B., II, and James H. Gilmore (1999), The Experience Economy: Work Is Theatre and Every Business a Stage, Cambridge, MA: Harvard Business School Press.- The following articles from Journals are also recommended: SOME JOURNAL ARTICLES Agings, T. Ball, D. (2001) Designer Stores, in Extra Large. New Megashops from Gucci, Hermes, Louis Vuitton are Fashion s Next Big Thing Wall Street Journal, Jun 6. pg. B.1 NY. Finn, A. (2001) Mystery Shopper Benchmarking of Durable-Goods Chains and Stores Journal of Service Research, May, 3,4. pg Gomes, K. (1999) Mystery Shopping Discount Merchandiser, Oct. 39, pg. 82. Liebre, R. (2004) Off the Beaten Track. Shopping in New York City Wall Street Journal, Dec. pg. 5 NY. Wildrick, R. (2004) Merchandising Strategies Chain Store Age, Mid-Dec. 80, pg Espinosa, A., De Juan, M. y Martínez, N. (2008) Comercio de lujo y ciudad. Un análisis evolutivo de la Goethestrasse de Frankfurt, IV Congreso de Geografía de los Servicios: Comercio, servicios y transporte. Patrones de una sociedad avanzada, Octubre; Páginas: ISBN: , Madrid (España), De Juan, M.D., Sarabia, F.J., Chumpitaz, R. y Espinosa, A. (2011) "Shopping styles: analysing and contrasting the Spanish scenario", EAERCD The European Association for Education and Research in Commercial Distribution 16th Conference, 29 June- 1 July, Parma, Italia. Martínez Ribes, LL. y De Juan Vigaray, M.D. (2010) How channel innovation accelerates brand development. Avoiding myopia when looking at retail brands, 6th Colloquium -Academy of Marketing SIG on Brand, Identity and Corporate Reputation, Barcelona, Spain. Gültekin, B.; De Juan, M.D. y Espinosa, A. (2010) Location orientation of organic stores in low demand areas: A case study on the existence of a niche market, 17th Conference on Retailing and Consumer Services Science, Fechas: Julio, Istanbul (Turkey). De Juan, M.D.; Demoulin, N. (2009) Congruency of Music with Store Image: its Effect on In- Store Environment Evaluation, Satisfaction and Purchasing Behaviour, 38th EMAC European Marketing Academy Conference, Marketing & The Core Disciplines: Rediscovering References mayo, Nantes (France). Espinosa, A.; Martínez, N.; Martínez, M.P.; De Juan, M. y Jiménez, A.I. (2009) El lujo en la

7 SOME JOURNAL ARTICLES ciudad. Aproximación al mercado de productos de lujo a través del análisis de la Goethestrasse de Frankfurt, 8th Marketing Congress, enero, Paris (France). De Juan, M.D., Hota, M. and Sarabia, F.J. (2008) Interplay Between Values & Consumption Relying On Schwartz s Value Typology 37th Conference of the European Marketing Academy, mayo, Brighton (Reino Unido). URL: Note: Other readings may be assigned at later date handed out in class. 6. DISCLAIMER I reserve the right to deviate from the schedule on the topical outline based on class progress and number of students in class. I will, however, try to avoid any major changes in the schedule in order to prevent any confusion. If at any time you have questions about the schedule, date assignments are due, etc., please, contact me by .