outlet selection $ purchase

7/30/2019 Outlet Selection $ Purchase

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OUTLET SELECTION $PURCHASE


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Model of Retail Outlet

selection

Feed back

Need arousal -Purchase needs

-Shopping need

InformationProcessing

BrandEvaluation

-Outletattributes-Outlet Image

Post PurchaseEvaluation

Retail OutletChoice


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Factors Determining Store

ChoiceStore Location -: Closer consumers areto a store ,the greater their likelihood to

purchase from that store.Intercity ChoiceIntracity Choice

Interstore choice


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ChoiceStore Design & Physical Facilities-: Thedesign characteristics of a store visibly

reflect its image and influence consumerpurchase decision. It includes elevators, airconditioning, in-store music etc.

Merchandise-: The good & servicesoffered by a retail outlet i.e. Quality,Pricing, Guarantee, Fashion etc.


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Choice Advertising & Sales Promotion-:

1. To inform consumers (New storeopening)2. To persuade consumers for brand

or store3. To remind the store consumers

have appreciated


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Expenditure of Individuals Drawn to

a Store by an Advertised Item


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ChoiceClientele-: Store choices have much todo with their social-classmembership.Consumers prefer thosestores where person similar tothemselves are percived to be

shopping.

Clientele-: Store choices have much to dowith their social-class membership. Consumers

prefer those stores where person similar tothemselves are perceived to be shopping.

Discount & Deals -: In-store price reductioninfluence brand decision.

a) consumers who are not willing to buy ,maybuy after discounts.

b) current brand users may buy in advance dueto discount .


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Cont..c) consumer buying competitive brands,may

switch to other brand due to price reduction.d) Non product category buyer may buy the

brand because its now a better value tosubstitute product.


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Consumer Characteristics& Outlet Choice


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Chameleons Shopping style situation specific orconstantly changing

Shopping approach is based on product type,shopping impetus, and purchase task

Collectors/Gatherers Propensity to stockpile items and to purchaselarge quantities to either save money oralleviate the need for shopping

Attempt to get the best price and takeadvantage of retailer guarantees

Foragers Particular and motivated to purchase onlythe desired items

Willing to search extensively and have littlestore loyalty; Prefer to shop alone


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Hibernants Indifferent toward shopping, with opportunisticshopping patterns rather than need driven

Will often postpone even required purchases

Predators Purposeful and speed oriented in shopping; planbefore shopping and like to shop alone

Do not enjoy shopping and tend to shop outlets whereassured of getting needed items quickly

Scavengers Enjoy shopping both to make purchases and as anactivity

Like to go to sales and consider shopping to beentertainment

Make numerous unplanned purchases


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Internet RetailingThe global Internet retail market consists

of the total revenues generated throughthe sale of retail goods via onlinechannels, valued at retail selling price.

The global Internet retail market consists of the total revenues generated throughthe sale of retail goods via onlinechannels, valued at retail selling price.


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Online Sales by Categories in

Billions Dollars

$ Billions


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Influences for Outlet SelectionType of Product-:

Watch,Grocery,Newspaper

Size of PurchaseQuality of ProductOther Benfits

Type of ProductSize of PurchaseQuality of ProductOther Benfits


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PURCHASEOnce the consumer

has chosen a brand & selected a retail outlet,then he /she takes the

final step of completingthe transaction.


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Cont Traditionally, acquired the good by payingcash but in developed and developing

countries credit plays an important role incompleting the purchase transactionPurchase action is generally the last contact acustomer has on that shopping trip & alsooffers the opportunity of creating as lastingimpression on the con sumers


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Purchase Pals


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Purchase Pals

Purchase pals works as a influentialsource who actually accompanyconsumers on shopping trips.In grocery items, purchase pals wereused only 9%,but in electronic

equipment purchase pals where used25%.


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Cont..

Male purchase pals are used as sourcesof product category expertise, productinformation & retail store & priceinformationFemale purchase pals are more often

used for moral support and to increasebuyers decision.


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Purchase Behavior

Consumer make three types of purchases:Trial purchase-First time purchase,small quantity .Ex-DetergentRepeat purchase-Makes purchases

again & again as brand loyaltyLong term commitment purchase-

Always stick to the brand.


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Modes of Payment

Cash- Making cash payments hand tohand .Card- Making payments using creditcards etc.Like e-payment.Financing- Making payment by E.M.I.


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Delivery of The Product

In-store delivery- Delivery at the time of purchase i.e. on the spot delivery.Home Delivery-The product is beingdelivered at the consumers place. Forexample- Purchase of furniture.

Delivery & Installation-The product isbeing delivered & installed at theconsumers place. For example-A/C,

LED/LCD T.V.


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THANK YOU

outlet selection $ purchase

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