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Chapter 7

Chapter 7. RETAIL MANAGEMENT: A STRATEGIC APPROACH , 10th Edition. Identifying and Understanding Consumers. BERMAN EVANS. Chapter Objectives. To discuss why it is important for a retailer to properly identify, understand, and appeal to its customers

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Chapter 7

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  1. Chapter 7 RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10th Edition Identifying and Understanding Consumers BERMAN EVANS

  2. Chapter Objectives • To discuss why it is important for a retailer to properly identify, understand, and appeal to its customers • To enumerate and describe a number of consumer demographics, lifestyle factors, and needs and desires – and to explain how these concepts can be applied to retailing

  3. Chapter Objectives (cont.) • To examine consumer attitudes toward shopping and consumer shopping behavior, including the consumer decision process and its stages • To look at retailer actions based on target market planning • To note some of the environmental factors that affect consumer shopping

  4. Figure 7-1: What Makes Retail Shoppers Tick

  5. Demographics consumer data that is objective, quantifiable, easily identifiable, measurable Lifestyles ways in which consumers and families live and spend time and spend money Demographics and Lifestyles

  6. Understanding Consumer Lifestyles: Social Factors Culture Reference Groups Lifestyle Time Utilization; less time shopping Social Class Household Life Cycle; life stage for both Family Life Cycle: bachelorhood to children , solitary

  7. Understanding Consumer Lifestyles: Psychological Factors Personality Attitudes Lifestyle Class Consciousness: Desire and pursue social status Perceived Risk Purchase Importance: spend time

  8. Figure 7-3: Blurring Gender Roles

  9. Three Special Market Segments • In-Home Shoppers • Online Shoppers • Outshoppers

  10. In-Home Shoppers • Shopping is discretionary, not necessary • Convenience is important • Active, affluent, well-educated • Self-confident, younger, adventuresome • Time scarcity is not a motivator

  11. Online Shoppers • Use of Web for decision- making process as well as buying process • Convenience is important • Above average incomes, well-educated • Time scarcity is a motivator

  12. Outshoppers • Out-of-hometown shopping • Young, members of a large family, and new to the community • Income and education vary • They like to travel, enjoy fine food, are active, and read out-of-town newspapers

  13. Attitudes Towards Shopping • Shopping enjoyment • Shopping time • Shifting feelings about retailing (Spending ,value &shopping) • Why people buy or not on a shopping trip • Attitudes toward private brands they think that its better than manufacturer brand

  14. Top Reasons for Leaving an Apparel Store Without Buying • Cannot find an appealing style • Cannot find the right size • No sales help is available • Cannot get in and out of the store easily • Prices are too high

  15. Cross-Shopping • Shopping for a product category at more than one retail format during the year • Visiting multiple retailers on one shopping trip

  16. Figure 7-5: The Consumer Decision Process Lifestyle Demographics

  17. Figure 7-6: Key Factors in the Purchase Act

  18. Types of Consumer Decisions Extended Limited Routine High RISK & TIME Low

  19. Types of Impulse Shopping • Completely unplanned • Partially unplanned • Unplanned substitution

  20. Figure 7-7: Stimulating Impulse Purchases

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