Chapter 3

Question 1

The process of using multiple channels for selling similar products across different platforms. The platforms may be online and offline and the various channels may be brick and mortar store, online store, mobile store, mobile app store. Etc.

Answer 1

MULTICHANNEL RETAILING

Question 2

RETAIL CHANNEL

Answer 2

Store
Catalog
Internet

Question 3

A retail establishment selling items to the public

Answer 3

Store

Question 4

○ A book with a list of all the goods that you can buy from a store

Answer 4

Catalog

Question 5

○ Means any internet web site that markets or sells the products or services of travels suppliers to consumers

Answer 5

Internet

Question 6

By spreading your business across multiple platforms, you could pop up more often into a prospective customer’s view and therefore receive more attention. This will give them the time needed to browse through your store, compare prices, and do their research which is necessary for them to buy from you eventually

Answer 6

BETTER REVENUE

Question 7

○ So with multichannel retailing, you can offer your customers multiple ways to buy from you, from which they can select one based on their comfort and convenience. This will give you a competitive advantage over single channel businesses

Answer 7

● MORE WAYS TO BUY FROM YOU

Question 8

○ By doing this, you can tell which sales channels your customers seem to prefer and which ones they don’t, so that you know what specific parts of your business to work on and how to promote your business

Answer 8

● COLLECT VALUABLE DATA ON CUSTOMER PURCHASES

Question 9

MULTICHANNEL RETAILING ISSUES

Answer 9

● Cross-channel Service
● Product Availability

Question 10

○ The customer should also have a similar, positive experience

Answer 10

● Cross-channel Service

Question 11

○ Products should be available for purchase both online and offline

Answer 11

● Product Availability

Question 12

CHALLENGES OF EFFECTIVE
MULTICHANNEL RETAILING

Answer 12

● Integrated Shopping Experience
● ORGANIZING FOR MULTICHANNEL RETAILING

Question 13

○ Is one in which customers can interact with your business across many channels - including online, via mobile app and in-person - in order to buy the products and services they need

Answer 13

● Integrated Shopping Experience

Question 14

○ Price, brand image, merchandise assortment

Answer 14

● ORGANIZING FOR MULTICHANNEL RETAILING