Amazon is a massive online retailer that has a market capitalization as of June 2018 that is in excess of $268 billion U.S. As well as being an online retailer, Amazon allows for individuals and business to sell and display products for sale on line.
What are two important benefits provided by retailers
What are two important benefits provided by retailers? They provide value in the form of consumer utilities.
They have a positive impact on the economy.
What are 4 ways to attract customers?
- Offer new customers discounts and promotions
- Ask for referrals
- Recontact old customers
- Network
- Update your website
- Partner with complementary businesses
- Promote your expertise
- Take advantage of online ratings and review sites
What are examples of service companies
Examples of pure service businesses include airlines, banks, computer service bureaus, law firms, plumbing repair companies, motion picture theaters, and management consulting firms.
What are the five 5 main important factors for a retail business
There are five keys to success in retail: location; marketing; store layout and appearance; service and assortment, and bundle selling.
What is 7 marketing mix
These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you’re on track and achieving the maximum results possible for you in today’s marketplace.
What is good customer service
Good customer service typically means providing timely, attentive, upbeat service to a customer, and making sure their needs are met in a manner that reflects positively on the company or business.
What is your definition of service
Definition of service (Entry 1 of 4) 1a : the occupation or function of serving in active service. b : employment as a servant entered his service.
2a : the work performed by one that serves good service. b : help, use, benefit glad to be of service.
What is service and its importance
‘A service is any activity or benefit that one party can offer to another, which is essentially intangible and does not result in the ownership of anything.
Its production may or may not be tied to a physical product.’ – Kotler, Armstrong, Saunders and Wong.
What are the 7 qualities of good customer service?
- Problem-Solving Skills
- Clear Communication
- Friendly Attitude
- Empathy
- Business Acumen
- Product/Service Knowledge
- Strong Time Management
What are the 7 P’s in retail
These seven are: product, price, promotion, place, packaging, positioning and people.
How do you bring customers?
- Ask for referrals
- Network
- Offer discounts and incentives for new customers only
- Re-contact old customers
- Improve your website
- Partner with complementary businesses
- Promote your expertise
- Use online reviews to your advantage
What are the benefits of services?
- Customer loyalty
- Increase profits
- Customer recommendations
- Increase conversion
- Improve public image
What are the characteristics of service?
- Lack of ownership
- Intangibility
- Inseparability
- Perishability
- Heterogeneity or Variability
What is an example of a service
A service is an “(intangible) act or use for which a consumer, firm, or government is willing to pay.”
Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
What is 4th step retailing
The four steps in the retail value chain are creating the product, storing the inventory, distributing the goods and making the product available for consumers.
Small businesses that participate in the retail value chain must be aware of how each of these processes operate.
What are the 3 types of services
Services are diversified in three groups; Business services, social services and personal services.
What are the 5 types of services?
- Business Services
- Social Services
- Personal Services
- Banking
- Insurance
- Transportation
- Warehousing
- Communication
What are the 4 features of services
There are four characteristics of service: Intangibility, Inseparability, Variability, and Perishability (Kotler and Keller, 2007).
What are the 4Rs in customer service
J.P. Morgan Private Bank, the financial-services provider, uses the “4Rs” of “respect”, “relevant”, “recognition” and “results” to help guide its strategy aimed at meeting the needs of affluent consumers.
How can I improve my business?
- Hire the right people
- Focus on established revenue sources
- Reduce your risks
- Be adaptable
- Focus on your customer experience
- Invest in yourself
- Always think ahead
- Boost your customer service
How do you attract dealers?
- #1 Relationships
- #2 Education
- #3 “Easy, secure money”
What is 4r of merchandising
It’s at this point that the 4 “R”s of retail marketing makes most sense as we now move into the post purchase process.
The 4 key aspects of retail marketing are the relationship with the client, relevance, reward and the reduction of costs.
Citations
https://www.lawinsider.com/dictionary/retail-channels
https://www.repsly.com/blog/consumer-goods/what-is-retail-marketing
https://www.thesaurus.com/browse/retail
https://www.doxee.com/blog/customer-experience/retail-industry-definition-distinctions-between-brick-and-digital/
