Sainsbury: The Most Successful Retail Buying Process
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d) Yes I think Sainsbury’s decision is good decision, Because they can open new store and by advertising they can get customer and by giving discount ones again they can win greater market share. They only need good management, by the help of them they can continue the business. May be this decision they can be most successful retail business in this world.
g) Stage in retail buying process The retail buying process and those involved, play an important role in the value chain as they ultimately determine which products and brands are made available to the consumer. Historically role of retail buying has been to make decisions about which products to buy and which suppliers to buy from, but now the retail buying process is also…show more content… In addition, the responsibilities of, and activities undertaken by, a retail buyer or buying unit will reflect the company’s corporate culture, resource base, and organizational structure. Whilst there are common themes and approaches to retail buying, there are a number of factors which shape and determine the actual Implementation of the buying process
• Utilitarian Needs –satisfied when purchases accomplish a specific task. Shopping needs to be easy, and effortless like Sam’s or a grocery store.
• Hedonic needs – satisfied when purchases accomplish a need for entertainment, emotional, and recreational experience as in department stores or specialty stores.
Hedonic needs that Retailers can satisfy
Stimulation Ex: Background music, visual displays, scents
Satisfy need for power and statuses: Canyon Ranch – upscale health resorts
Adventure: Treasure hunting for bargains
Types of Buying