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Three Original Combinations in Retail Markets
Pages 5 (1255 words)
In this short essay, the author presents the strategic considerations in retail combinations and three original ideas of retail combinations that are not yet prevalent. In the end, the author has presented few discussion points.
Smith and Agrawal (2000. pp50) presented the key customer orientation factors in retail stores as delivery speed, cost, quality, customization, personal attention, product variety, etc…
Murthi and Sarkar (2003. pp1344-1345) presented personalization framework for customers that comprises of learning matching and evaluation as per customer preferences. The combinations in retail stores should be planned carefully in such a way that they can be combined to present packages through personalization process that delight the customers given that the overall outcome fits a bigger picture in customer's mind. In the next section, three original ideas of combinations are presented. Verhoef (2003. pp32-33) proved the hypotheses that affective commitment positively affects customer retention. Personalization process effectively results in customers feeling connected to the firm and hence guarantees their long term loyalty.
Combination 1: Consumer electronics, computers and furniture: This combination appears to be completely irrelevant with each other because all the three have different purposes and requires different sales skills. However, when viewed from personalization perspective now-a-days many consumers combine the computers & laptops with electronics items like televisions, cameras, handicams, surround sound systems, etc. and normally struggle with their integration aspects. ...
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