Strategies for Success in Retail (Collection)

Book description

3 state-of-the-art guides to understanding consumer behavior -- and leveraging it for higher retail profits

Three books packed with up-to-the-minute insights into consumer behavior — and practical guidance on building more successful campaigns, products, formats, and experiences! Use innovative new pricing strategies to create value and attract customers... learn how today’s shoppers really think, behave, and buy… learn proven methodologies for transforming consumer knowledge into retail profits!

From world-renowned leaders and experts, includingJagmohan Raju, Z. John Zhang, Herb Sorensen, Ph.D., Rick DeHerder, and Dick Blatt

Table of contents

  1. Title Page
  2. Contents
  3. Smart Pricing: How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability
    1. Contents
    2. Acknowledgments
    3. About the Authors
    4. Introduction: Fingerprints of the Invisible Hand
      1. Cost-Plus Pricing
      2. Competition-Based Pricing
      3. Consumer-Based Pricing
      4. The Four Levers
      5. Conclusion
      6. Endnotes
    5. 1. “Pay As You Wish” Pricing
      1. Why Pay More?
      2. The First Five Notes
      3. Conclusion
      4. Endnotes
    6. 2. Why the Best Things in Life Are Free
      1. Home of the Free
      2. Live Free or Die?
      3. Still No Free Lunch
      4. Endnotes
    7. 3. The Art of Price Wars
      1. Why Chinese Businesses Like Price Wars
      2. Color TVs
      3. The Microwave Oven Industry
      4. Breaking Out By Breaking Even
      5. Forward, March
      6. Endnotes
    8. 4. Thinking Small
      1. Pitching Pennies
      2. Just Pennies per Day
      3. Supersize My Profits
      4. Hey, Big Spender
      5. A Small Price to Pay
      6. Mind-Forg’d Manacles
      7. Endnotes
    9. 5. The Automatic Markdown
      1. An Automatic Markdown Rundown
      2. Setting the Automatic Sale in Motion
      3. Syms’ Automatic Ancestor
      4. Few Takers
      5. Going, Going...
      6. Why All Retailers Don’t Go Dutch
      7. The Once and Future Price Tag
      8. Endnotes
    10. 6. Name Your Own Price
      1. Why Priceline Survived
      2. The Opaque Sale
      3. Name Your Own Customer
      4. Name Your Own Business Model
      5. Endnotes
    11. 7. Subscribe and Save: Pricing for Marketing Profitability
      1. The Bigger Picture
      2. The Mouse That Roared
      3. The True Bottom Line
      4. Endnotes
    12. 8. The Snob Premium
      1. From Cash to Cachet
      2. Special Neighbors
      3. When More Is More
      4. When Less Is More
      5. Endnotes
    13. 9. Pay If It Works
      1. A Focus on Value
      2. Making “Pay If It Works” Work
      3. From Adversary to Partner
      4. Endnotes
    14. 10. Conclusion
      1. Customer Focus
      2. Differentiated Pricing
      3. Smart Pricing Metrics
    15. Index
  4. Inside the Mind of the Shopper: The Science of Retailing
    1. Dedication
    2. Contents
    3. Author’s Notes and Acknowledgments
    4. About the Author
    5. Preface Rethinking Retail
    6. Introduction Twenty Million Opportunities to Buy
      1. Twenty Million Seconds: Shopper Time Is Mostly Wasted
      2. Time Is Money: Shopper Seconds per Dollar
      3. Leaving Money in the Aisles: The $80 Million Question
      4. Planning Our Trip
      5. Shopping Serengeti
      6. Endnotes
    7. PART I Active Retailing
      1. 1 The Quick Trip: Eighty Percent of Shopper Time Is Wasted
        1. Three Shoppers: Quick Trip, Fill-In, and Stock-Up
        2. The Danger of Using “The Average”
        3. Rise of the Small Store
        4. A Slow Walk on a Quick Trip
        5. Perils of Promotion
        6. The Big Head and Long Tail
        7. Heads You Win
        8. The Communal Pantry
        9. Layered Merchandising
        10. The Right Paths for the Right Shoppers
        11. Purchase Modes and Selection Paradigm
        12. Spending Faster
        13. Conclusion: Dual Chaos
        14. Endnotes
      2. 2 Three Moments of Truth and Three Currencies
        1. Moments of Truth
        2. Seeing the Truth: Eyes Are Windows to the Shopper
        3. How Eye Tracking Works
        4. Reach: Impressions and Exposures
        5. In-Store Media
        6. Stopping Power (and Holding Power)
        7. Closing Power
        8. Three Currencies of Shopping: Money, Time, and Angst
        9. The Versatility of Time as a Measure
        10. A Complex Optimization
        11. Endnotes
      3. 3 In-Store Migration Patterns: Where Shoppers Go and What They Do
        1. If You Stock It, They Will Come
        2. A Time-Lapse Photograph
        3. Understanding Shopper Behavior
        4. Three Measures: Counting Shoppers, Time, and Direction
        5. First Impressions: The Entrance
        6. Shopper Direction: Elephant Herds
        7. Walgreens Finds Profits in Two Directions
        8. Shoppers Save Frozen Foods for Last, but Not Produce
        9. Clockwise or Counterclockwise: The Coriolis Effect in Shopping
        10. The Checkout Magnet
        11. Products Hardly Ever Dictate Shopper Traffic—Open Space Does
        12. Alphabet Soup: The Power of Inefficiency
        13. Managing the Two Stores
        14. Five Store Designs
        15. Where the Rubber Meets the Linoleum
        16. Endnotes
      4. 4 Active Retailing: Putting Products into the Path of Shoppers
        1. Active Retailing
        2. Put the Right Products in the Path of Customers
        3. Double Conversion™: Converting Visitors to Shoppers to Buyers
        4. How to Measure Double Conversion™
        5. Packaging Must Play the Starring Role
        6. What Is a Package?
        7. Holding Power—How Long Is Long Enough?
        8. Stopping and Closing Power: VitalQuadrant™ Analysis
        9. Breaking the Rules
        10. Playing the Niche
        11. Good Is the Enemy of the Great
        12. Endnotes
      5. 5 Brands, Retailers, and Shoppers: Why the Long Tail Is Wagging the Dog
        1. Where the Money Is in Retail
        2. Massive Amounts of Data
        3. Shifting Relationships
        4. A Refreshing Change: Working Together to Sweeten Sales
        5. Beyond Category Management
        6. A New Era of Active Retailing: Total Store Management
        7. Pitching a Category’s Emotional Tone More Precisely
        8. Retailers Control Reach
        9. The Urgent Need for Retailing Evolution
        10. Endnotes
    8. PART II Going Deeper into the Shopper’s Mind
      1. 6 The Quick-Trip Paradox: An Interview with Unilever’s Mike Twitty
        1. How do you define a quick trip?
        2. Why do shoppers make so many quick trips?
        3. What factors do consumers consider in deciding where and how to shop?
        4. How do consumers think about shopping trips?
        5. What did you learn from this research?
        6. How could it be that even warehouse clubs and supercenters—whose design so strongly encourages stock-up shopping—receive more quick trips than stock-up or fill-in trips?
        7. Given that quick trips account for two-thirds of shopping trips, how can retailers and manufacturers cater to these shoppers?
        8. What is the Quick-Trip Paradox?
        9. Given this paradox, how can retailers and manufacturers capitalize on the quick trip?
        10. Could the shoppers’ motives for making the trip offer insights into the best assortment to offer?
        11. How can retailers best meet the needs of quick-trip shoppers?
        12. What are the implications for retailers and manufacturers?
        13. Endnotes
      2. 7 Integrating Online and Offline Retailing: An Interview with Professors Peter Fader (The Wharton School) and Wendy Moe (University of Maryland)
        1. How did the Internet change the study of shopping behavior?
        2. In what way are the online and offline patterns similar?
        3. Studying the Same Shoppers on Different Paths
        4. How are paths in the supermarket similar to paths online?
        5. Can online retailers learn from offline shopper behavior?
        6. Tell me about what you’ve found out about crowd behavior?
        7. What have you learned about licensing and sequencing—such as the purchase of vice items after virtue items?
        8. What have you found out about the pace of the shopping trip?
        9. What have you learned about shopping momentum?
        10. What have you learned about the role of variety in shopping?
        11. What have you learned about efficiency? Is it better to allow shoppers to get quickly in and out of the store, or should retailers try to prolong the trip?
        12. This raises the question of whether shoppers are in the store for utilitarian reasons alone, or if they are interested in an experience. What is the difference?
        13. What have you learned so far about what shoppers are looking for when they go online?
        14. How do online retailers use these insights about shopper visits?
        15. This captures the whole point of what we’ve called “active retailing.” Online is leading offline in this area. How does this come into the physical store?
        16. How do some of the complex forces of shopping behavior play out? Why is there a need for better modeling?
        17. What topics are you studying now?
        18. Endnotes
      3. 8 Multicultural Retailing: An Interview with Emil Morales, Executive Vice President of TNS Multicultural
        1. This book looks at how retailers need to move toward active retailing by anticipating and responding to shoppers’ needs. What does active retailing mean in the context of multicultural marketing?
        2. What are some of the challenges facing the multicultural shopper that retailers need to be aware of?
        3. What is the significance of the Hispanic segment in U.S. markets?
        4. What makes this segment attractive to retailers and manufacturers?
        5. How can manufacturers and retailers seize this opportunity?
        6. Why do Hispanic customers shop so many channels?
        7. Given the popularity of tienditas and other small stores, do U.S. Hispanic shoppers have any interest in larger stores?
        8. How does this use of many channels affect the way Hispanic shoppers plan to shop?
        9. How does the U.S. Hispanic market react to loyalty cards and other mechanisms to collect customer data?
        10. How does culture drive shopping behavior?
        11. You mentioned the second aspect of culture, subjective culture. How does this affect shopper behavior?
        12. How does the process of acculturation unfold and what do retailers need to know about it?
        13. Given the close family relationships in Hispanic culture, how do retailers need to respond?
        14. What issues of product selection or packaging do retailers and manufacturers need to address for this segment?
        15. How are companies winning with U.S. Hispanic consumers?
        16. How successful have manufacturers and retailers been in responding to the opportunity of the U.S. Hispanic market segment?
        17. Can you give an example of how a retailer or manufacturer has used an understanding of multicultural marketing and U.S. Hispanic markets to build its business?
        18. You’ve focused on Hispanic markets in the U.S. How do these insights apply to other markets?
        19. In closing, what would be your top tips for retailers and manufacturers who seek to address multicultural shoppers?
        20. Endnotes
      4. 9 Insights into Action: A Retailer Responds: An Interview with Mark Heckman of Marsh Supermarkets
        1. What are the most important things to keep in mind when implementing changes in the retail format, such as those described in this book?
        2. What have been the results in the stores you’ve redesigned?
        3. How are retailers beginning to implement new designs, such as serpentine or inverted perimeter approaches (discussed in Chapter 3)?
        4. How do retailers decide whether to take new approaches?
        5. In my opinion, what supermarkets are doing is trying what works willy-nilly. You are going to get a lot more tweaking of what works than you are radical departures. What do you think?
        6. At Marsh, are you moving in the direction of an inverted store (as discussed in Chapter 3)?
        7. How do shoppers react to these new formats?
        8. Shoppers will hang in there to learn the new store formats?
        9. Are you comfortable with the idea that customers become shoppers only within the walls of the store?
        10. You’ve looked a lot at pre-shopping, which we have not considered in the book. How do people decide what store to shop at, and what kind of metrics do you look at outside the store?
        11. Can you shed some light on what are the half dozen most important metrics you use?
        12. One measure we are using is how many seconds it takes for each store to generate a dollar of sales. They run anywhere from 30 seconds to 120 per dollar. What do you think about this measure?
        13. Do you have your own shopper segmentation scheme at Marsh?
        14. Are you doing something distinctly to serve quick trippers?
        15. Is there a brand/retailer partnership?
        16. What shoppers tell us is sometimes a very poor source?
        17. I think shoppers would love to spend a lot more money in stores, but they can’t figure out how to do it. I think there’s a huge amount of unfulfilled shopping out there. What do you think?
        18. What are you doing with new technologies?
    9. PART III Conclusions
      1. 10 The Internet Goes Shopping
        1. Entering the VideoCart Age
        2. Cell Phone Invasion
        3. Implications for Retailers and Brand Owners
        4. The Power of Model Makers
        5. The Model Business
        6. A Fivefold Increase
        7. Endnotes
      2. 11 Game-Changing Retail: A Manifesto
    10. PART IV Appendix
      1. Appendix Views on the World of Shoppers, Retailers, and Brands
        1. Excerpts from “Views from the Hills of Kentucky” by Robert Stevens
      2. Praise for Shopper Intimacy
  5. Shopper Intimacy: A Practical Guide to Leveraging Marketing Intelligence to Drive Retail Success
    1. Contents
    2. Acknowledgments
    3. About the Authors
    4. Introduction
    5. 1. REAP (Retail Ecosystem Analytics Process)
      1. Utilizing REAP to Deliver Consistent Results
      2. Shopper Analysis Integration
      3. Case Studies
      4. Summary
      5. Endnotes
    6. 2. Measuring Marketing at Retail in Supermarkets
      1. Overview
      2. Phase One—POPAI’s Channel Studies
      3. Endnotes
    7. 3. Measuring Marketing at Retail in Convenience Stores
      1. Overview
      2. Learning One: Retail Marketing Execution Techniques Concentrated
      3. Learning Two: Marketing Messages Concentrated
      4. Learning Three: Huge Premium for Excellence
      5. Learning Four: Brand Size Drives Outpost Display Activity
      6. Learning Five: Category Response Varies Widely by Message Location
      7. Learning Six: Borrowed Interest Has a Disproportionate Impact on Smaller Brands
      8. Learning Seven: Strong Brand Expression Significantly Outperforms Generic Treatment
      9. Learning Eight: Store Is Not Overloaded with Retail Marketing Material
      10. Learning Nine: Effectiveness Ratio Predicts Sales Success
      11. Learning Ten: Retailer Analysis Yields Success Implementation Model
      12. Endnotes
    8. 4. Measuring Marketing at Retail in Drug Stores
      1. Overview
      2. Learning One: Many Key Results Consistent with Other Studies
      3. Learning Two: Retail Marketing Effectiveness Higher in Chain Drug Stores
      4. Learning Three: Message Matters
      5. Learning Four: Promotion/Advertising Consistently Enhances Impact
      6. Learning Five: Brand-Focused Messages More Effective
      7. Learning Six: Price Savings Drive Impulse Results
      8. Learning Seven: Value Message Drives Private Label
      9. Learning Eight: Shopper Actions Differ from Words
      10. Learning Nine: RFID Tracking Delivers Reliable, Real-Time Data
      11. Learning Ten: Retail Audience and CPM Very Attractive
      12. Endnotes
    9. 5. Establishing In-Store Marketing Measures
      1. Retail Marketing Metrics
      2. Definitions
      3. Potential Reach
      4. Actual Audience Reach
      5. In-Store Rating Points
      6. Cost Per Thousand (CPM)
      7. Audience Delivery Worksheet
      8. Phase One Summary
      9. Phase Two—Nielsen’s PRISM Project
      10. Research Learnings
      11. Summary
      12. Endnotes
    10. 6. Capturing Shopping Dynamics in Store
      1. Overview
      2. Market Tests
      3. Examples of Retail Marketing Ratios
      4. Potential Applications
      5. Recap
      6. Summary
      7. The Retail Marketing Model Shifts
      8. Endnotes
    11. 7. Shopper Models
      1. Retail Marketing Definition
      2. Shopper Understanding
      3. Summary
      4. Endnotes
    12. 8. Decision Drivers
      1. Retail Factors and Purchase Decision Types
      2. Financial Impact of Presentation Optimization
      3. Retail Success Drivers
      4. Leveraging Related Items
      5. Shaping Opportunities
      6. Emotional Power
      7. Practical Learnings
      8. Summary
      9. Endnotes
    13. 9. Online Retailing
      1. Applying Learning and Traditional Tools
      2. Managing Online Dynamics
      3. Online Tools
      4. Endnotes
    14. 10. Measuring Return on Investment
      1. Delivering Results
      2. Retail Tools
      3. Return on Investment Models
      4. Achieving Success Through Shopper Intimacy
      5. Endnotes
    15. Index
  6. Habit: The 95% of Behavior Marketers Ignore
    1. Contents
    2. Acknowledgments
    3. About the Author
    4. Introduction
    5. Part I: The Force of Habit
      1. 1. How Habits Undermine Marketing
        1. New Product Failure
        2. Loss of Customers
        3. Dissatisfaction with Customer Satisfaction
        4. Why We're Addicted to Bill Gates
        5. Evolution and Revolution
      2. 2. You Are of Two Minds (At Least)
        1. The Executive and Habitual Minds in Action
        2. You iDrive Me Crazy
        3. Your Customer's Two Minds
        4. A Norman Door into the Two Minds of the Customer
        5. The Limbic System: Where Habits Form and Live
        6. Peeking into Human Memory
      3. 3. The PFC: Home to the Executive Mind
    6. Part II: Habits: The New Science of Marketing
      1. 4. Of iPods, Habits, and Market Revolution
        1. How the iPod Killed the CD
      2. 5. Marketing from a Habitual Perspective
        1. The Failure of Customer Satisfaction
        2. Becoming Your Customers' Habit
      3. 6. Habit and Marketing Management
        1. Habit and Product Design
        2. Habits and Product Development
        3. The Swiffer: Designed to Clean Up
        4. Product Launch: Creating Mental Models and Building Habits
        5. Building Habits
        6. Price Conscious
        7. Channels of Habituation
        8. Positioning in the Retail Environment
        9. Promoting Habits
        10. Advertising
        11. Personal Selling
        12. Sales Promotion
        13. Public Relations
        14. Trust the Brand
        15. The Physical Brand
        16. Marketing Research
    7. Part III: Treat Your Customers Like Dogs
      1. 7. Of Google and Cigarettes
      2. 8. Behavioral Training
        1. Karen Pryor Shapes a Generation of Trainers
        2. Calling for Reinforcements
        3. A Matter of Timing
        4. Conditioned Reinforcers to the Rescue
        5. Talking to the Habitual Mind
      3. 9. Behavioral Marketing: Becoming Your Customer's Habit
        1. Discovery
        2. Purchase
        3. Use
      4. 10. The Four Steps to Behavioral Marketing
        1. Context
        2. Training
        3. Reinforcement
        4. Cue
      5. 11. Habit Maintenance
        1. Schedules of Reinforcement
      6. 12. The Force of Habits: The Double-Edged Sword
    8. Conclusion
    9. Index
    10. Financial Times Press
    11. Footnote
      1. Chapter 1
      2. Chapter 2
      3. Chapter 9

Product information

  • Title: Strategies for Success in Retail (Collection)
  • Author(s): Herb Sorensen, Z. John Zhang, Dick Blatt, Rick DeHerder, Jagmohan Raju
  • Release date: January 2011
  • Publisher(s): Pearson
  • ISBN: 9780132696500