week 5 Flashcards by Trisha mae Villavilla | Brainscape

Q

is 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.

A

Multichannel Retailing

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Q

Retail channel (3)

A

store
catalog
internet

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Q

a retail establishment selling items to the
public.

A

store

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Q

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

A

Catalog

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Q

means any Internet web site that markets or sells the products or services of travel suppliers to
consumers.

A

internet

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Q

benefits provided by different channels.

browsing

choices:
A. stores
B. catalogs
C. internet

A

A

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Q

benefits provided by different channels.

*touching and feeling merchandise

choices:
A. stores
B. catalogs
C. internet

A

A

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Q

benefits provided by different channels.

Convenience

choices:
A. stores
B. catalogs
C. internet

A

B & C

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Q

benefits provided by different channels.

*safety

choices:
A. stores
B. catalogs
C. internet

A

B & C

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Q

benefits provided by different channels.

Cash payment

choices:
A. stores
B. catalogs
C. internet

A

A

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Q

benefits provided by different channels.

Instant gratification

choices:
A. stores
B. catalogs
C. internet

A

A

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Q

benefits provided by different channels.

Personal Service

choices:
A. stores
B. catalogs
C. internet

A

A

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Q

benefits provided by different channels.

*Entertainment and social interaction

choices:
A. stores
B. catalogs
C. internet

A

A

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Q

benefits provided by different channels.

Personalization

choices:
A. stores
B. catalogs
C. internet

A

C

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Q

benefits provided by different channels.

Broad and deep assortments

choices:
A. stores
B. catalogs
C. internet

A

C

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Q

benefits provided by different channels.

Portability and easy access

choices:
A. stores
B. catalogs
C. internet

A

B

Q

benefits provided by different channels.

Risk reduction

choices:
A. stores
B. catalogs
C. internet

A

A

Q

give the (3) benefits of multichannel retailing

A

better revenue
more ways to buy from you
collect valuable data on customer purchases

Q

by spreading your business across
multiple platforms, you could pop up more often into a
prospective customer’s view and therefore receive
more attention.

A

better revenue

Q

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.

A

better revenue

Q

So with multi- channel retailing, you can offer your customers multiple ways to buy from you, from which they can select one based on their comfort and convenience.

A

More ways to buy from you

Q

This will give you a competitive advantage over single
channel businesses.

A

More ways to buy from you

Q

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.

A

COLLECT VALUABLE DATA ON CUSTOMER PURCHASES

Q

multichannel retailing issues (2)

A

Cross-Channel Service
Product Availability

Q

the customer should also have a similar, positive experience.

A

Cross-Channel Service

Q

products should be available for purchase both online and offline.

A

product availability

Q

Challenges of Effective Multichannel Retailing (2)

A

Integrated shopping experience
organizing for multichannel retailing

Q

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.

A

Integrated shopping experience

Q

price, brand image, merchandise assortment.

A

ORGANIZING FOR MULTICHANNEL RETAILING

Q

The shopping experience of the future will be personalized and technology-driven.

A

Multichannel Shopping in the Future

Q

Customers will be able to see items instantly, try them on and test them virtually, and have them customized to their exact preference.

A

Multichannel Shopping in the Future