The American Retail Value Proposition Crafting Unique Experiences at Compelling Prices 1st Edition by Kyle Murray ISBN 9781442624771 1442624779

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Product details:
ISBN 10: 1442624779
ISBN 13: 9781442624771
Author: Kyle Murray

The American economy is profoundly dependent on the success of its retailers and the strength of its consumer spending. Yet, how do leading retailers create value for their customers?

To a large extent this has been accomplished by streamlining operations and a decades-long focus on cost cutting and price competitiveness. Today, retailers realize that they need to discover new ways to differentiate themselves and attract consumer spending. The American Retail Value Proposition provides the framework for building that differentiation and establishing a competitive advantage that goes beyond price discounting. This framework is based on more than a decade of research, including hundreds of hours of interviews with executives from the world’s leading retailers, including Starbucks, Walmart, Apple, Amazon, and Lowe’s. Whether you are an aspiring merchant or an industry veteran, this book’s strategic framework will help you build a solid foundation for your business in today’s ever-evolving retail marketplace.

The American Retail Value Proposition Crafting Unique Experiences at Compelling Prices 1st Edition Table of contents:

Part 1: An Introduction to the Retail Value Proposition

1 Crafting Value

Big Hairy Audacious Retailing

Legendary Performance

The Engine That Drives the Economy

The Retail Value Proposition

Environment

Selection

Engagement

Retail Pricing

Measuring Success

2 Segmentation and Differentiation

Market Segmentation

Segmentation Variables

Four Criteria for Evaluating Market Segmentation

Target Market Selection and Positioning

Differential Advantage Analysis

Vertical and Horizontal Differentiation

Actionable Segmentation and Consumer Personas

Measuring Success

Part 2: The Shopping Environment

3 Locations and Formats

Convenience

The Rise of Retailing

The Location Decision

Trade Areas

Customer Spotting

Gravitational and Demand Gradient Models

Estimating Trade Area Potential

Choosing a Store Format

Store Size and Layout

Building the Brand: Locations and Formats Define Retailers

Measuring Success

4 Inside the Store

In-Store Shopper Marketing

Managing the Probability of Purchase

Time for Coffee

Shopper Efficiency: Seconds per Dollar

Making Shopping ESE

Knowing You Have Arrived

The Land of Aisles

the grid layout

racetracks and rectangles

Traffic Flow

What They See Is What They Get

Aisle Value Zones

end caps

open spaces

activity zones

lighting and atmospherics

signage

density and frequency

Shelf Value Zones

stoop and stretch

sight and grab

kids and pets

Packaging

The Importance of the End

What Customers Want

Measuring Success

5 Omnichannel Retailing

The Rapid Evolution of Omnichannel Retailing

The Advent of Augmented Reality

How Should Retailers Respond?

ESE Omnichannel Retailing

Why Retailers Continue to Fear Omnichannel Shopping

Price-Based Competition

Losing Control of the Conversation

Losing Focus on the Customers Who Count

Measuring Success

Part 3: Product Selection

6 Buying and Merchandise Management

The Master Merchandiser

Retail Buying

SKU Level Execution

Trickle-Down Trend Management

Trickle-Up Trend Management

The Buying Cycle

Brand Portfolio Management

The Power of Private Labels

Managing Customers, Not Brands

The Consumer-Centric Shift toward Cooperation and Collaboration in the Supply Chain

Measuring Success

Integrating Metrics into Management

7 Category Management

The Process of Category Management

Category Definition

The Category Role

Category Assessment

Category Scorecard

Category Strategies

Category Tactics

Plan Implementation

Category Review

Part 4: Customer Engagement

8 Managing Customer Relationships

Rethinking Retailing

Betting on the Customer

Managing Customer Satisfaction: The Relationship Gap

Building Relationships

efficiency

accommodation

tolerance and forgiveness

perceptual bias

trust

advocacy

The Importance of Employee Engagement

9 Customer Valuation

Not All Customers Are Right

One Question Is Not Enough

RFM Models

Customer Lifetime Value

Dealing with Demons

Managing Negative Critical Incidents

Managing the Satisfaction Distribution

10 Customer Loyalty

Demons in the Data

Loyalty Programs

Types of Loyalty Programs

the proprietary program

the partnership program

the coalition program

When Customers Pay Money to Be Loyal

Assets versus Liabilities

Trial and Error

Relevance

Personalization

Mass Customization

Privacy

Part 5: Putting It All Together

11 Retail Pricing

Getting the Price Right

Supply and Demand

Cost-Based Pricing

Value-Based Pricing

High-Low Promotional Pricing

Everyday Low Prices

Dynamic Pricing

Checking Out the Competition

12 Propositions: Pitfalls and Potential

Proposition Pitfalls

Believing in Best Practices

Confusing Price with Value

Mismanaging Marketing

Minding the Store, Forgetting the Customers

The Potential

Acknowledgments

Notes

Index

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Tags: Kyle Murray, American Retail, Proposition Crafting, Unique Experiences, Compelling Prices