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Summary: Retail And Branding
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What are the 3 main challenges facing retail in terms of strategy and design?
1. Innovation (company/brand)
2. Customer relationship (target group)
3. Competitive differentiation (competition) -
What are the 3 retail archetypes?
1. Market
2. Museum
3. Warehouse -
What are the characteristics of the archetype 1: Market?
- Diversity
- Little structure
- Variety of suppliers offering different product ranges
- Surprising unplanned product offerings -
What are the characteristics of the archetype 2: museum?
- Selectivity
- flagship stores
- Scarcity
- Highly curated and exclusive merchandise
- Special places designed by architects and designers -
What are the characteristics of the archetype 3: Warehouse?
- Transparency
- Very structured broad and deep assortment
- Structured presentation
- Targeted shopping
- Information supplied
- Often look the same everywhere -
Why is the warehouse archetype under pressure?
Because of the internet, which is superior in accessibility, comparability and price. -
Give a few macro level trends?
- disconnection versus connection
- a world of chaos and confusion > polarization
- social and environmental consciousness
- celebrating diversity -
What are the 7 p's of retail?
p1: product
p2: price
p3: place
p4: promotion or presentation
p5: physical environment
p6: process
p7: personel -
Explain p5: physical environment?
- store design
- ambiance
- mood -
Give some current successful value propositions?
- Authenticity
- contextualization
- convenience
- curation
- exclusivity
- fusion
- news value
- online profiling
- participation and sharing
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