Week 5

Question 1

the process of using multiple channels for selling similar products across different platforms.

Answer 1

Multichannel Retailing

Question 2

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 2

Multichannel Retailing

Question 3

Retail Channel

Answer 3

1. store
2. catalog
3. internet

Question 4

a retail establishment selling items to the public.

Answer 4

store

Question 5

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

Answer 5

catalog

Question 6

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

Answer 6

internet

Question 7

benefits provided by
different channels (STORE)

Answer 7

-browsing
-touching and feeling merchandise
-cash payment
-instant gratification
-Personal service
-Entertainment and social interaction
-risk reduction

Question 8

benefits provided by different channels (CATALOGS)

Answer 8

-convenience
-safety
-portability and easy access

Question 9

benefits provided by different channels (INTERNET)

Answer 9

-convenience
-safety
-personalization
-broad and deep assortments

Question 10

benefits of multichannel retailing

Answer 10

• BETTER REVENUE
• MORE WAYS TO BUY FROM YOU
• COLLECT VALUABLE DATA ON CUSTOMER PURCHASES

Question 11

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 11

BETTER REVENUE

Question 12

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

Answer 12

MORE WAYS TO BUY FROM YOU

Question 13

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 13

COLLECT VALUABLE DATA ON CUSTOMER PURCHASES

Question 14

multichannel retailing issues

Answer 14

• CROSS-CHANNEL SERVICE
• PRODUCT AVAILABILITY

Question 15

products should be available for purchase both online and offline.

Answer 15

• PRODUCT AVAILABILITY

Question 16

The customer should also have a similar, positive experience.

Answer 16

CROSS-CHANNEL SERVICE

Question 17

Challenges of Effective Multichannel Retailing

Answer 17

• INTEGRATED SHOPPING EXPERIENCE
• ORGANIZING FOR MULTICHANNEL RETAILING

Question 18

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 18

INTEGRATED SHOPPING EXPERIENCE

Question 19

price, brand image, merchandise assortment.

Answer 19

ORGANIZING FOR MULTICHANNEL RETAILING

Question 20

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

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

Answer 20

Multichannel Shopping in the Future