However, the merchandise should be marketed in such a manner that it makes the consumers feel the product is exclusive to our store. Larger businesses ultimately have an array of advantages over their smaller competitors. For instance Walmart has a more recognizable brand and they can easily outspend smaller businesses like ours, on marketing and advertising in order to secure that advantage. Walmart in this case would more than likely use economies of scale to undercut us on pricing. I believe one area where Cityjoy would find advantageous is in the area of flexibility.
Case study: Wal-Mart STEEP analysis for Wal-Mart Wal-Mart is one of the world’s wholesalers providing its products at an affordable price. With regard to its STEEP analysis, several factors affect the store and have impacts on its performance. Sociocultural factors i. Sociocultural factors play a crucial role in influencing customer decision. People think of Wal-Mart as the best place to go shopping because of quality and low prices. ii.
Charlotte Russe is located on the opposite side of the mall compared to Vivi Boutique but has been doing much better as far as customer engagement and sales. When walking in the mall and observing customers in Charlotte Russe, you can see a higher level of interaction. There were many more customers in the store which translates to more sales. I even recognized a few of the same customers I saw in Vivi Boutique browsing in there. The prices in Charlotte Russe were much cheaper than those in Vivi Boutique while still upholding strong clothing
Wal-Mart 's dominating retail presence secures them a strong market position, while not classifying them as a specialty store. At all Walmart locations, consumer shopping needs are not limited. While offering low price alternatives, they make shopping easy and convenient for their customers. To encourage recurring traffic to Walmart locations they offer programs that ensure a 100% money back guarantee if you are not satisfied with the products you purchase ("Wal-Mart Stores Inc…"). In regard to their inventory turnover ratio, compared to competitors, they are able to cycle through their inventory faster than other major competing retail brands.
2.1.7 CONSUMER PRODUCTS 2.1.8 CATEGORIES OF CONSUMER PRODUCTS Convenience Products – These are products that appeal to a very large market segment. They are generally consumed regularly and purchased frequently. Examples include most household items such as food, cleaning products, and personal care products. Because of the high purchase volume, pricing per item tends to be relatively low and consumers often see little value in shopping around since additional effort yields minimal savings. From the marketer’s perspective the low price of convenience products means that profit per unit sold is very low.
They are designed to create more of an inclusive shopping experience where one can find anything from bargain deals on daily groceries at Big Bazaar to exquisite limited edition porcelain figurines at Lladró. It can almost be believed that malls can provide an equalizing space. The ‘equalizing’ nature of this space should be approached with caution; it is neither ‘natural’ nor ‘equal’. On the contrary, most malls become reflective of the socio-political landscape it exists within, and performs this sociality by becoming a site of reproduction of these same relational
Showcase Displays— These typically feature items that 1) are deemed to be too valuable for display in storefront set-ups, or 2) are niche items of high interest to the business 's primary clientele. These display centers are usually located in high traffic areas and typically feature multiple tiers for product display and a sliding door on the clerk 's side for access. "Found-Space" Displays—This term refers to product presentations that utilize small but nonetheless usable areas of the store, such as the tops of product carousels or available wall space. Storefront window displays and "found space" displays are particularly popular tools for publicizing and selling sale items. The effectiveness of these cornerstones of merchandising display strategy can be increased by remembering several other tips as well, including the
While this has been the case in some areas, there is still demand for brick and mortar stores in market areas where the consumer feels more comfortable seeing and touching the product being bought. However, the availability of online shopping has produced a more educated consumer that can shop around with relative ease without having to spend a large amount of time. In exchange, online shopping has opened up doors to many small retailers that would never be in business if they had to incur the high cost of owning a brick and mortar store. At the end, it has been a win-win situation for both consumer and
Ahamed et.al (2007), from a sociological perspective mall have become community centers, offering visitors common recreational attractions such as music, movies, games, and dining out. Thus, mall acts as gathering place that allowing customer to meet a recreate with friends, an activity particularly common among teens. It became economical entertainment venues for family because the cost to entry the mall is low. 2.6.7
ABSTRACT The latest trend in the corporate universe is of the emergence of the shopping malls. The first thing that comes to our mind about the shopping malls is that it is a big enclosed building, housing a variety of shops and products. A good shopping mall must carefully design to achieve level of pleasure from the users inside the mall. The atmosphere of shopping centre created by sound registration, colour scores and illumiintaion, alongside with the professional concept create additional comfort for visitors which influences loyalty of buyers and their desire to pass more time in the building. The mosques built today are either to rigid and uniform or to modern that it looks pleasing to the eyes but is not a comfortable structure to perform prayers in.