WEEK 5 ASSIGNMENT

FORUM #1: What is the role of retailing in delivering customer value? What must retailers do as they plan for and react to the digital disruption? What opportunities are there for retailers to increase sales through technology? Provide an example.

ASSIGNMENT: This week’s assignment includes creating your own marketing framework. Your framework should be a one-page visual representation of your marketing plan. Feel free to use Piktochart. Through the lesson for this week, you were provided some ideas of what should be included as well as some examples of other marketing frameworks. Now it is time to use this framework to create your own. Be innovative and think “outside” the box as you are developing your framework. Provide a narrative that details your framework.

Minimum 1 page visual

Minimum 1 page narrative

Minimum 2 scholarly sources

RESPONSE #1: Good Evening Everyone,

The role of retailing in delivering customer service is making the customers feel as if things are tailored specifically for them. According to an article written by George Chang, it aligns to that mentality. He states in order for retailers to add value to their customers, the retailer should engage is five areas, customer service, expertise, exclusivity, convenience, and experience. Consumers do shop more when the service they receive is positive, they feel as if the company is loyal to them and they will make repeat purchases. Expertise, customers prefer to engage with company representatives that know about the products or services they are selling. Exclusivity, have loyalty rewards and have quality products that justify higher prices. Convenience, retailers should make the products/service easy to access. Experience is needed to meet the expectations of the customers. Consumers tend to make purchases using all of their senses and it is up to the retailer to assure the consumer that their wants and needs have value. (Chang, 2014)

When dealing with digital disruptions retailers must have a contingency plan already prepared. In the case of digital disruption, the retailers should analyze how other retailers are addressing the issue. Then they should form action plans that identify and manage both internal and external threats. Retailers should look for alternative market strategies that will keep their consumers interested in their product line, and use external resources if necessary. During this time of COVID-19 retailers have experienced some digital disruptions and retailers will need to readjust their marketing strategies to draw their previous customers and attract new customers as well. (Panetta, 2019)

This has been an unprecedented time in our history, where people are limited to access of retail stores and many stores have had to rely on technology to see them through. Amazon had already used their online presence to win over consumers. More people have begun to use online shopping, for example grocery stores. Grocery stores have made online purchases and delivery viable options for people. The other technology used are online purchases and in-store pick up. Technology has shown to be a valuable asset during this pandemic

RESPONSE #2: Hello everyone,

I hope this finds everyone doing well, staying safe and healthy.  The role of retailing and giving customer value is offering products that fill most of their needs such as one-stop shopping.  To also act as a middleman between the consumer and the supplier by using smaller quantities rather than a bulk product.  Most people only want one or two of the same items at a time, if they need bulk items there are warehouse stores such as Costco, Sam’s Club where they could purchase larger amounts.   They could also put an order in advance to give you the notice that they would need a larger amount of product. 

Digital marketing in a way of using the internet and market the retailer’s items, store, and specials.  This can help to plan for an increase in sales or traffic to their store.  Once you get customers in the store for those sales or special deals then you usually can get them to buy more than they planned on because once they see or remember something that triggers their mind, they will buy it.  Many times, that happens in the grocery store because the sale ad will have a special but once they get in the store, they buy a lot more than they planned on.

RFID or radio frequency identification can be used to share the flow between the retailer and the supplier.  It can reduce the scanning error rates and it can reduce stockouts which improves customer satisfaction and lesser revenue loss.  The RFID can improve the accuracy of inventory and efficiency of the supply chain.