The Retail Value Proposition: Crafting Unique Experiences at Compelling Prices
Published: February 2013© 2013
Imprint: Rotman-UTP Publishing
Page Count: 248 Pages
Illustrations: 10 figures; 10 tables
Dimensions: 6.00 x 9.00
248 Pages, 6.00 x 9.00 in, 10 figures; 10 tables
How do leading retailers create value for their customers? They craft unique experiences at compelling prices. This book introduces a new and effective way to manage those experiences based on three critical factors – environment, selection, and engagement (ESE) – that separate successful retailers from those that fail and are forgotten.
The ESE framework is derived from the academic literature on retail management and consumer marketing, and supplemented by hundreds of hours of interviews with executives and marketers from Canada's leading companies, including Loblaw, Indigo Books and Music, and Lululemon. Kyle B. Murray illustrates the components of this framework with examples and case studies that examine how the shopping environment, product selection, and customer engagement each affect consumer decision and create competitive advantage.
Whether you are an aspiring merchant or an industry veteran, this book's strategic framework will help you build a solid foundation for your business in today's ever-evolving retail marketplace.
Section 1: An Introduction to ESE Retailing
Chapter 1 - The ESE Retailing Framework
Chapter 2 - Segmentation and Differentiation
Section 2: The Shopping Environment
Chapter 3 - Locations and Formats
Chapter 4 - Inside the Store
Chapter 5 - Interactive Electronic Retailing
Section 3: Product Selection
Chapter 6 - Buying and Merchandise Management
Chapter 7 - Category Management
Section 4: Customer Engagement
Chapter 8 - Managing Customer Relationships
Chapter 9 - Customer Valuation
Chapter 10 - Customer Loyalty
Section 5: Putting it all Together
Chapter 11 - Retail Pricing
Chapter 12 - The Evolution of Retail Competition
“Finally, an approach to retailing literature that combines good academic research with practitioner insight! Complete, instructive and highly readable, this important book that should be on the shelves of anyone engaged in or interested in retail.” Alan C. Middleton, Executive Director, Schulich Executive Education Centre, York University
treatment of the essentials of contemporary retailing. Weaving together classic wisdom and stories with recent research findings, it provides many exciting insights for improved retail performance. If our retailers would embrace Murray’s advice, we’d all be better for it.” Michael R. Pearce, Ivey Eminent Teaching Professor Emeritus, Richard Ivey School of Business Administration
“Scientific yet practical, descriptive yet prescriptive – Murray’s treatise on retailing presents a comprehensive analysis of one of the most dynamic and high-pressure industries. Written to appeal to managers and students alike, this volume is a must-have for anyone whose work and passion touches the world of retailing.” Dilip Soman, Corus Chair in Communications Strategy and Professor, Rotman School of Management, University of Toronto
“The Retail Value Proposition successfully illustrates the importance of building a retail brand and a retail experience around the customer. In a comprehensible and effective manner, Kyle Murray provides a roadmap to success in today’s hyper-competitive retail market and offers great tools to sustain continued growth and customer relevance. A great book!” Diane J. Brisebois, President & Chief Executive Officer, Retail Council of Canada.