17: Chapter 17: Pricing in Retailing Heading Home... Figure 17-3: Factors Affecting Retail Price...
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Transcript of 17: Chapter 17: Pricing in Retailing Heading Home... Figure 17-3: Factors Affecting Retail Price...
Chapter 17:17:
Pricing in Retailing
Heading Home...
Figure 17-3: Factors Affecting Retail Price Strategy
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Market Segments by Price Sensitivity (p. 502)
• Economic consumers• Status-oriented consumers• Assortment-oriented consumers• Personalizing consumers• Convenience-oriented consumers
Percentage of Retail Percentage of Cost
10.0 11.1
20.0 25.0
30.0 42.9
40.0 66.7
50.0 100.0
60.0 150.0
70.0 233.3
80.0 400.0
90.0 900.0
Table 17-4: Markup Equivalents
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Figure 17-8: Specific Pricing Decisions
– Everyday Low Pricing
– Yield Management Pricing
– Multiple Unit Pricing
pp. 518-520
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Price Adjustments (pp. 521-522)
• Adaptive mechanism– Markdown– Additional markup– Employee discount
• Early markdown policy• Late markdown policy• Staggered markdown policy• Automatic markdown plan• Storewide clearance
Timing Markdowns (pp. 523-524)
Terms of Sale: Datings
Immediate (COD)
Future
Ordinary
End-of-Month (EOM)
Receipt-of-Goods (ROG)
Advanced
Chapter 17 Discussion Questions: 10
Chapter 1818
Establishing and Maintaining a Retail Image
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Figure 18-2: Elements of a Retail Image
In Seconds…• A shopper should be able to determine a
store’s– Name– Line of trade
–Claim to fame–Price position–Personality
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Atmosphere (pp. 544-545)
• The psychological feeling a customer gets when visiting a retailer
– Store retailer: atmosphere refers to store’s physical characteristics that project an image and draw customers
– Nonstore retailer: atmosphere refers to the physical characteristics of catalogs, vending machines, Web sites, etc.
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Point-of-Purchase Displays (pp. 555-557)
• Assortment display• Theme-setting display• Ensemble display• Rack display• Case display• Cut case• Dump bin
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Figure 18-13: Making the Shopping Experience More Pleasant
Remember Experiential Retailing!
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Community-Oriented Actions
• Make stores barrier-free for disabled shoppers• Show a concern for the environment by recycling
trash and cleaning streets• Support charities• Participate in anti-drug programs• Employ area residents• Run sales for senior citizens and other groups• Sponsor Little League and other youth activities• Cooperate with neighborhood planning groups• Donate money/equipment to schools• Check IDs for purchases with age minimums
Chapter 18 Discussion Questions: 2, 12