The New Rules of Retail
In this paper, the review of the book The New Rules of Retail (2nd ed) by Lewis & Dart, 2014 would be done. This book is written by the experts of the retail industry who have considered that they are to share their experience and considerations with the world, due to the fact that current world of retail is experiencing the dramatic changes both in quantitative and qualitative aspects of its functioning and development.
Authors have claimed that this trend may be also referred as the fundamental transformation, which implies the rapid and innovational technological development and globalization in all areas of human activities. In addition, the consumers are provided with an option of having an access to the equal …show more content…
The first one is referred as the neurological connectivity. It implies that the irresistible and, in some cases, addictive experience of making a purchase is created by retailer in the consumers mind. It accompanies the client from the stage of the pre-shopping anticipation and is integrated into the final satisfaction of the client by the product or service, purchased and used by one. The second essential factor for the retail business in the 21st century is preemptive distribution, when all currently available platforms are used by the retailer in order to contact the client ahead of the competition (for instance, social media, mobile applications, web sites etc.) The last factor, which has been outlined by the authors of the book, is the value chain control. Such control may be characterized by its vertically integrating nature - it encompasses the initial stages of retail business- establishing the platform for selling the products and / or services and is mainly oriented on achievement of the maximum in the process of delivering of the qualities, implied by the brand promise.
It is considered by the authors of the book that the essential formula, implied by integration of the three factors of success, discussed above, into the retail business, has created the fertile background for the success of the major part of the …show more content…
At the same time, the clients are provided with the possibility of making a choice of particular brands, which may ‘let in’ to their everyday life (its digital side). In other words, such form of marketing is personable for both sides. In order to illustrate the real power of high-touch approach towards marketing, the authors of the book refer to the hypothetical example, which is entitled as “A (Shopping) Day in the Life”. The approach, which may be traced from it, is highly personalized, omnipresent as well as omnichannel. It has the advantages for both involved parties. At the same time, the playing field is tilted by the -touch marketing in favor of the end client (Lewis and Dart
In this paper, the review of the book The New Rules of Retail (2nd ed) by Lewis & Dart, 2014 would be done. This book is written by the experts of the retail industry who have considered that they are to share their experience and considerations with the world, due to the fact that current world of retail is experiencing the dramatic changes both in quantitative and qualitative aspects of its functioning and development.
Authors have claimed that this trend may be also referred as the fundamental transformation, which implies the rapid and innovational technological development and globalization in all areas of human activities. In addition, the consumers are provided with an option of having an access to the equal …show more content…
The first one is referred as the neurological connectivity. It implies that the irresistible and, in some cases, addictive experience of making a purchase is created by retailer in the consumers mind. It accompanies the client from the stage of the pre-shopping anticipation and is integrated into the final satisfaction of the client by the product or service, purchased and used by one. The second essential factor for the retail business in the 21st century is preemptive distribution, when all currently available platforms are used by the retailer in order to contact the client ahead of the competition (for instance, social media, mobile applications, web sites etc.) The last factor, which has been outlined by the authors of the book, is the value chain control. Such control may be characterized by its vertically integrating nature - it encompasses the initial stages of retail business- establishing the platform for selling the products and / or services and is mainly oriented on achievement of the maximum in the process of delivering of the qualities, implied by the brand promise.
It is considered by the authors of the book that the essential formula, implied by integration of the three factors of success, discussed above, into the retail business, has created the fertile background for the success of the major part of the …show more content…
At the same time, the clients are provided with the possibility of making a choice of particular brands, which may ‘let in’ to their everyday life (its digital side). In other words, such form of marketing is personable for both sides. In order to illustrate the real power of high-touch approach towards marketing, the authors of the book refer to the hypothetical example, which is entitled as “A (Shopping) Day in the Life”. The approach, which may be traced from it, is highly personalized, omnipresent as well as omnichannel. It has the advantages for both involved parties. At the same time, the playing field is tilted by the -touch marketing in favor of the end client (Lewis and Dart