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Services, Experiences and Innovation

Integrating and Extending Research

Edited by Ada Scupola and Lars Fuglsang

Whilst innovation has traditionally focused on manufacturing, recently research surrounding service innovation has been flourishing. Furthermore, as consumers become ever more sophisticated and look for experiences, a research field investigating this topic has also emerged. This book aims to develop an integrated approach to the field of experience and services through innovation by showing that it is necessary to take several factors into account. As such, it makes a substantial and compelling contribution to the interdependencies between innovation, services and experience research.
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Edited by Ada Scupola and Lars Fuglsang

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Entrepreneurial Marketing

A Practical Managerial Approach

Robert D. Hisrich and Veland Ramadani

One key for success for the entrepreneur is to obtain sales (revenue) and profits as quickly as possible upon launching the venture. Entrepreneurial Marketing, focuses on all the essential elements to successfully achieve these needed sales and revenues: identifying and selecting the market, determining the consumer needs cost effectively, executing the basic elements of the marketing mix (product, price, distribution, and promotion) and competing successfully in the domestic and global markets by implementing a sound marketing plan. The content is enhanced by numerous examples throughout.
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Robert D. Hisrich and Veland Ramadani

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Rishika Rishika and Ramkumar Janakiraman

The explosive growth of the Internet has enabled technological platforms that have created empowered and informed consumers who know what to shop, when to shop and where to shop. Social media platforms have facilitated this evolution by fundamentally transforming the way consumers interact and share information. Consumers are more tech-savvy than ever and motivated towards delving deeper into researching products and prices before making their purchases. For their part, firms are devoting more and more resources into engaging customers in the online retailing environment, redefining the way they connect with their customers. This chapter provides an organizational framework on social media marketing and retailing activities that can help gain deeper insights into social media research, and guide future research into social media marketing-related topics and issues. It describes factors that potentially influence the effectiveness of social media efforts of a firm, and discusses the consequences of these activities.

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Jeffrey R. Parker and Anthony R. Koschmann

In addition to the challenges of choosing a store’s assortment, managing promotions, optimizing prices, and ensuring a stable supply chain – retailers also need to consider how product presentation influences consumers’ preferences. After all, having what the consumer wants when and where they want it may not be enough if the products are not presented in a manner consistent with how the consumer shops. As it is often the literal touch-point between the consumer and the product, this chapter focuses on how shelf layout plays a vital role in consumers’ preferences. It considers both traditional physical shelves and online/menu-based displays and discusses how manager-controlled shelf-layout variables can influence both information gathering and, crucially, consumers’ choices. The chapter closes with a discussion on opportunities for future researchers in the area of shelf layouts.

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Bart J. Bronnenberg

Retailing is an important sector of the economy: it is roughly equal in size to the manufacturing sector, and still expanding in many countries. Why do economies have such a large retail sector and what does it produce? The chapter explores this question by looking at the retail sector through the lens of household production theory. It discusses how structural changes in consumers’ time allocation impact retail strategy, and conversely, how retail innovations that make purchasing and home production more convenient impact the purchasing habits and time use of consumers. In so doing, it connects the marketing literature on retailing to the economic literatures on household economics and on time use. The chapter also provides suggestions for future research into the role of consumer time use on innovation in retailing, and vice versa.

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Karen Gedenk

Retailer promotions are sales promotions that retailers offer to consumers. They include price promotions, like temporary price reductions (TPR) and coupons, as well as non-price promotions, like features and displays. The effectiveness of retailer promotions is interesting to both retailers and manufacturers. At the same time, the use of retailer promotions is not trivial. While they typically increase sales quickly and strongly, they come at high costs, especially when price promotions reduce margins, so that the profitability of promotions for retailers is not obvious. This chapter provides a summary of what is known about retailer promotions. It describes instruments available for retailer promotions, discusses how promotions work, and presents empirical findings on promotion effectiveness. Even though research on retailer promotions to date has already produced many results, the chapter identifies still open questions that wait to be answered.

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Inge Geyskens

Retailers have become the gatekeepers to shoppers, the end users of CPG products. A relative handful of retailers now controls access to enormous numbers of consumers. This situation is a far cry from the 1960s and 1970s, when big CPG manufacturers bossed around much smaller retailers. This chapter provides an overview of why retailers are in the driving seat. It distinguishes between two sources of retailer power: growing retailer scale, and growing retailer sophistication. Retailers have grown in scale through internationalization, a consolidating wave of mergers and acquisitions, and buying group membership. However, the playing field is tilted further in favor of large retailers than is indicated by their sheer size. Retailers have grown into sophisticated businesses, that are growing organically through multi-channel operations and that have become competitors to their suppliers by selling private labels.

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Óscar González-Benito, Mercedes Martos-Partal and Álvaro Garrido-Morgado

Store formats distinguish types of stores. From a demand perspective, they can be defined as broad, competing store profiles that provide benefits to match the needs of different types of consumers in varied shopping situations. This chapter reviews the competitive role of store formats and their implications for retail marketing strategy. The core challenge for research into store formats is gaining a better understanding of the role of store formats in the competitive structure, including the match between the available portfolio of store formats and the heterogeneity of consumers’ shopping needs and benefits sought. By providing insights into these issues, the chapter can help retailers to configure store format portfolios, manage store formats to deal with changes in the competitive environment, configure a retail marketing plan that is congruent with existing store formats, and manage growth through new store formats or through the adaptation of current formats to new markets.