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Marketing Management 314 A1 content summary

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Preview 4 out of 123 pages

This summary contains the relevant information for the Marketing 314 A1 exam. It covers the content from the prescribed textbook & slides for chapters 1,3,4,5,6,7,9,10 as well as the additional material on Consumer Personas, The Customer Journye, Analytics, Search engine optimisation & Future Store Formats

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OMNICHANNEL

An Omni channel strategy is a sales and marketing approach that provides customers with a fully
integrated shopping experience

,Benefits of an Omni-channel:




How? Create a flawless Omni-channel retail strategy

1. Research where your customers already are

• Figure out which platforms, mediums, and devices your customers use on a daily basis

• Where they like to shop, where they hang out, and what experiences motivate their daily
lives

2. Make every touchpoint shoppable

• One major key to designing an Omni channel retail strategy is making every touchpoint
shoppable

3. Bridge the gap between online and offline

• If your retail strategy involves any sales that aren’t offline, connecting the two is critical

• Consumers want to connect with your brand both on and offline

,Thought Leadership - A tactic content marketers use to build credibility for themselves or leaders
in their company.
• Main goal: is to become recognized as an expert and used as a go-to resource in your field

• To become a thought leader, one might:

- create and promote educational, helpful content and

- become active in the industry community, particularly on social sites

• If you’re good at it, you’ll:

- increase awareness among your - improve social proof
target audience
- and boost engagement online
- generate more leads

• thought leadership marketing

1. know your audience and continue learning about them → buyer persona

2. Be active on social media → effective way to build your brand and authority

3. Publish a variety of content in a variety of places
4. Analyse what your competitors are doing and gain inspiration

5. Create valuable content → Show that you're an expert in the industry by speaking
intelligently on specific issues in the industry

6. Be genuine → being too promotional doesn't connect with your audience

• What is included in thought leadership:

- public events or conferences - guest posts

- webinars - ebooks

- blogs - videos

- podcasts - social media

• thought leadership strategy:

, • how to spot thought leadership:

- Alignment with Your Brand and Its Values - Experience Publicly

- Strong Opinions, Innovative Ideas, and - Sharing Experiences
Concepts
- A Loyal Following
- Industry Knowledge and Expertise




Activity:

Write a thought leadership piece (10-15 marks) on the what, the why and the how of omnichannel.

Use the Shopify link as well as any other link mentioned in the “article” to write an insightful

thought piece on the topic (see next slide for explanation of thought leadership.

* Side note: If a retailer is identified for an assessment, then you have to write a thought leadership

piece (content piece) on omnichannel for the retailer




DISCUSSION: Why study retailing?

Retailing does not have to involve a store. Mail and phone orders, direct selling to consumers in

their homes and offices, Web transactions, and vending machine sales are part of retailing.

Retailing does not have to include a “retailer.” Manufacturers, importers, nonprofit firms, and

wholesalers act as retailers when they sell to final consumers. There are several reasons for

studying retailing. Retailing is a significant part of the U.S. economy.

Annual retail store sales are nearly $5 trillion. Telephone and mail orders, vending machines,

direct selling, and the Web generate hundreds of billions of dollars in additional revenues.

Personal consumption spending on services account for another several hundred billion dollars in

annual retail revenues.

Durable goods stores account for 30 percent of total sales.

Nondurable goods and service stores account for the other 70 percent.

The largest 250 retailers in the world generate more than $4.6 trillion in annual revenues. They

represent 29 nations.

Connected book
 image
Barry R. Berman, Joel R. Evans, Patrali M. Chatterjee Retail Management, Global Edition
Publisher: 2017 ISBN: 9781292214689 Edition: Unknown

Document information

Summarized whole book?
No
Which chapters are summarized?
Chapters 1,3,4,5,6,7,9,10
Uploaded on
March 7, 2024
Number of pages
123
Written in
2023/2024
Type
Summary
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