This also means that a company has a place wherever their customers are. As part of the marketing mix, a company addresses Place. By having an online shopping presence, Countdown has expanded their place massively. For consumers they no longer need to locate a store to go to. This is important Delivery to customers adds to customer value in the form of task utility.
This is because customer can experience the convenient and searching products or services by browsing the website. Next, trust is a crucial factor in marketing for successful business trades and maintaining online customer relationships (Rios & Riquelme, 2008, p. 733). Trust can increase the level of customer’s confidence towards the online retailing. Last but not least, perceived enjoyment is also one of the key factors that affect customer purchase intention. Testing the impact of perceived enjoyment can help retailers to more understand the customer behavior.
V. Strategies for achieving competitive advantage. 1. Barriers to Entry that Restrict Supply: Zara is a popular brand compare to its competitors in the same market industry. Customers trust this website as well as the items that they are purchased. The important point of this online store is that the store provides their customers a convenience time and also helps customers to save on shipping cost if the customer are willing to pick up their online ordered stuffs at their nearest local store, zara.com will offer that services for free.
This generates data like - how a consumer move around the store, which aisle is more shopper-friendly than others, and for how long a customer engagement is established at the store. So, you can term Beacon Technology as the "Google Analytics for the real world". The Power Of Data Connection Retail outlets are requiring people to register for the public WiFi service via in-store technology such as Tickto, assisting them in consumer interaction, which in turn pull out personalized data when the shoppers are in the store premises. This information is used by the retailer to deliver targeted promotional messages that could engage the consumer and boost the store
With an increasing user base, eBay has been wise in capitalizing on that asset in other ways, especially fixed price sales. eBay’s business model is to act as a mediator between seller and buyer, taking a percentage of the sales. This frees eBay from worrying about the details, and allows the company to concentrate on maximizing its membership base and overall use of the website. In a nutshell, the underlying reason for eBay’s success is as a result of offering a shopping solution that is quite remarkable, a link between the internet and everyday life with the ability to search for a world of objects. This is conceivably the main reason which accounts for eBay’s growing profitability.
Not only that, they could also use the data from to send out the deal to the customer base on their interest. As a result, the customer will most likely to come back to the store they already familiar with. In extend, the retailers can also send out gift cards, reward cards to customers rewarding them for being loyalty to the store. Some people think it is manipulating people into buying goods, but it is not true. The customer always has to choice whether to buy or not.
However brick and mortar stores can use technology to compete against e-tailers. It is seen where a Point of Sale (POS) system has transformed the check out process and inventory control system in businesses. This has resulted in real time tracking of goods which provide retailers with information regarding the stock level and when a re-order needs to be done. A POS system also allows faster check out process for customers resulting in an increase in customer satisfaction. However this is now even more efficient as customers are able to conduct the check-out process themselves which saves time and labor costs.
Noad and Rogers (2008) analysed that many studies have been done on how store entrances influence the consumer behaviour. The results specified that store entrances are significant to store though there are various other elements of retailing those have their own level of importance. Also, the level of importance of the elements depends on consumers planned buying, unplanned buying or an impulse buying. Store entrances can increase the performance of retail store by affecting the customers’ unplanned or impulsive buying behaviour while entering the store. Effective and well-designed store entrances create positive attitude of customers toward the store and they spend more time in the store and also increase the level of browsing.
Value that meet, builds and develop profitable relationships with customers. Banks, for example, use many of the tools mentioned to meet their customers’ different preferences. Many customers will use the web for their transactions. Others will prefer visiting their local street branch for such. Digital marketing is most effective when it is part of a multichannel marketing strategy.
Retailers want stores to be a magnet for consumers which support them to discover the actual product they are willing to purchase and to inspire them to make careful, unintentional and impulse purchase or at last offer them with pleasant shopping experiences. If this visual merchandising have not preferred outcome on customers the problem arises whether it is profitable to spend time and money for retailers on this Marketing Medium. Visual Merchandising is important because it Increases Brand Awareness, Improves Brand Presence in Stores, and in the end. Most of the time it increases brand Image in Consumer minds and overall impact in companies