RESEARCH PROPOSAL: TO STUDY THE EFFECT OF PRODUCT-CUSTOMER RELATIONSHIP ON CUSTOMER LOYALTY AMONG RETAIL GOODS BUYERS. 1.1 INTRODUCTION A decade ago, retailing activities in Asia region is a local business that was operated by the local people themselves. This activity is now growing rapidly due to the existence of international businesses, which are dominated by foreigners (The Economist, 2001). Retailing is the selling activity of goods and services to end users for personal, family or household use. Therefore, retailing is an activity that involves more than selling the actual product. Purchasing or using services such as haircuts or dry cleaning can also be classified as retail transactions (Cox & Brittain, 1988). According to Staton, …show more content…
The earliest studies of retailing were conducted by Neville in Pontian Kecil, Johor in 1962 (Md Ali et al., 2005). His research shows that the placing or locations of retail activity is likely to gain a foothold close to the highway, the market and some public places. In the 1960s, there were no any shopping complexes but it does not affect the retail placement on competition particularly to the retails in shopping complexes. It also does not impact the business strategies adopted by them to face competition. In 2010, retail has become an activity that is a part of consumer lifestyle. Based on research conducted by Euromonitor International (2011), retailing in India has become more mature as many retailers are offering well-known brands that have entered the market of the country. They offer consumers a wide range of interesting brand and style. At the same time, the retail landscape is constantly changing and becoming more sophisticated. Format retail, new products and services have been introduced to meet consumer demands that are more intelligent and educated. A simple retail activity has been a part of a certain lifestyle that can be done in three ways: the experience of buying, owning experience and the experience of using. Moreover, users are also more sensitive to branded items and high quality (Shamsudin & Good, 2005). According to a report of retailing in Malaysia by Euromonitor International
The company was founded by the current CEO in 1970. Its journey began with one store that offered second-hand clothing, furniture, jewelry, and home décor for college-aged customers in a casual fun environment. Its journey began with one store targeted towards college-aged customers. The store was originally named Free People but soon changed to Urban Outfitters. After a decade, the company opened its second retail store.
Essay The “competitiveness secret” Why the companies change the packaging to sell the same product? Why similar products, but with different brands are perceived as different? If the consumer perceives a product as different from the others, the company that sells this product, has a competitive advantage from the other companies. And if a company sells a particular product, it will increase its profits.
The first Lowe 's store, which was Lowe 's North Wilkesboro Hardware, was first opened in North Wilkesboro, North Carolina in 1921 by Lucius Smith Lowe. Lucius Lowe died in 1940 and the business was then inherited by his daughter Ruth Lowe. Ruth sold the company to her brother Jim Lowe. Jim took on Carl Buchan as a partner in 1943. Buchan predicted the dramatic increase in construction after World War II, and the two partners decided that the store should only focus on hardware and building materials.
It is said that what one eats is what he or she is. That is also true with fashion, where one shops is who he or she is. The customers that shop at Urban Outfitters are rebellious and creative. These customers are in the age range of sixteen to thirty years old, including men and women. The customers who shop at Urban Outfitters are not afraid to show their individuality and express their quirky ensembles.
01.01 Explain what is meant by customer service in the retail sector Customer service is vital in the retail sector as it can make or break a business. If the retail business does not have the monopoly on the products or services it provides, they must introduce tools and behaviours that will entice customers into the business instead of the market competitors. Customer service plays a major role as it is usually engrained in the business plan and continually evolves. Customer service is essentially the interactions between a business and the consumer, however the interaction is the responsibility of the business and the consumer is aware of this. Customer service can occur face to face with consumers, over the telephone, written correspondences either postal or email and also online through the retail website or social media.
The retail brand has formed a close association with its employees thus ensuring that they also play an active part in decision making. In effect, the company has divided itself into different segments that enable the manufacturers to produce goods that move fast within the
Retail positioning aims to provide competitive edge by differentiating the retailer from its competition. This differentiation can be achieved through retail offerings that appeal to, and are easily identifiable to by its target market. This process is done by selecting market segmentations and matching them to the retail offerings as precisely as possible. It is vital to understand the consumers needs and wants in order to make a proper match and be distinguished from other retailers. Nordstrom distinguishes itself from other retailers by positioning itself as an upscale fashion store with outstanding customer service, and its multichannel approach.
HR Practices of Primark Primark is clothing retailer from Ireland which has operations in Austria, Belgium, France, Germany, Ireland, Portugal, Spain, Netherlands, United Kingdom and soon the United States. The company was founded and has its headquarters in Dublin, Ireland. It has around 51,250 employees worldwide as per the latest estimates. HR Management in the 21st Century: Challenges for the Future Recruitment and development: One of the most important challenges facing global organizations in the 21st century is building the ability to attract, recruit and retain the best talents amidst huge competition with competing organizations. In order to do so the company must create an environment where everybody enjoys working and using their
3. INTRODUCTION Today retailing services has become very much important in the competitive environment. Customer service quality has been widely used by the retailers as one of the important strategy. Retailing is the second largest employment provider after agriculture.
• In U.S Product performance was found to be the top purchasing criterion, while environmental features were a close second in a survey.13 1.4 RETAIL GIANTS IN THE
(Jacoby, 1971; Jarvis & Wilcox, 1976). Dick and Basu (1994) propose that customer will be loyalty to the brand is the result of psychological processes and has behavioral manifestations. Therefore it should incorporate both attitudinal and behavioral. Satisfaction is recognized as an important element for loyalty in both the consumers and business marketing. Satisfaction with previous purchase experiences plays an important role in determining the future purchase behaviors particularly call as an effort-minimization strategy (Jones and Suh, 2000: Pritchard et al, 1999).
In addition to which other factors namely brand image and desired attributes pertinent to the product were also looked upon
The brands set different prices of its product base on design, size and heritage. This is due to brand loyalty that each brand possesses by each luxury group. Particularly put extensive brand portfolio to cover different customer segments. As such, the brand is niche in the market leading to rivalry of the competitors in this industry to
First of all customer means A person who buys goods or services from a shop or business, loyalty means the state or quality of being loyal, faithfulness to commitments or obligations. So Customer loyalty is the key objective of customer relationship management and describes the loyalty, which is established between a customer and companies, persons, products or brands. “Customer loyalty is an essential aspect in any organization whether it is offering a good or providing a service. “Many organizations are looking for various ways to increase their customer loyalty as it has a positive effect on the profitability of the organization.” (Gremler 1996: 171, Abdullah et al. 2000: 826).The individual market segments should be targeted in terms of developing customer loyalty.
1.0) Introduction 1.1) Background During the past decades, the retailing industry has gone through many important changes. Saturated markets, fierce competition, and the turbulent macro-economic environment have condemned retailers to reconsider their retail strategy. Actually there are four factors which have constantly been reshaping the world of business – technological advances such as the internet, the loss of geographic advantage resulting from globalization, the shake-up of the traditional industries as a result of de-regulation and the rising power of the modern and complex consumer. However one of the most important factors remains the evolution of the Internet.