Summary: Retail Merchandising Exam

Read the summary and the most important questions on Retail Merchandising Exam

• 1 Chapter 18

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• Strategic AdvantageThrough Customer Service

  
  •Good service keeps customers returning to a retailer and generates positive word-of-mouth communication, which attracts new customers.
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  •The challenge of providing consistent high-quality service offers an opportunity for retailers to develop a sustainable competitive advantage.

• Customer Service Approaches

  
  •Personalized
  •Greater benefits to customers
  •Greater inconsistency
  •Higher cost
  •Standardized
  •Lower cost
  •High consistency
  •Meets but does not exceed expectations

• Cost of Customer Service

  High levels of customer service can be costly, but good customer service is worth an investment

• Customer Evaluations of Service Quality

  Cues used to Assess Service= Reality, Responsiveness, Empathy, Assurance, Tangibility

• Assessing Service Characteristics

  
  •Reliability: accuracy of billing, meeting promised delivery dates
  •Assurance (trust): guarantees and warranties, return policies
  •Tangibility: appearance of store and salespeople
  •Empathy: personalized service, receipts of notes and emails, recognition by name
  •Responsiveness: returning calls and emails, giving prompt service

• The Gaps Model for Improving Retail Customer Service Quality

  Customer Expectations for service quality
  Management perceptions of customer expectations
  Standards specifying service to be delivered
  Actual service delivered
  Retailer communications about the service quality

• GAP Model for Improving Retail Customer Service

  
  •Knowledge Gap -- knowing what the customer wants
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  •Standards Gap -- setting service goals
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  •Delivery Gap -- meeting and exceeding service goals
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  •Communications Gap -- communicating the service promise

• Knowing What Customers Want: Closing the Knowledge GAP

  
  •Comprehensive studies
  •Social media
  •Gauging satisfaction with individual transactions
  •Customer panels and interviews
  •Interacting with customers
  •Customer complaints
  •Using technology
  •Feedback from store employees
  •Using customer research

• Setting Service Standards:the Standards GAP

  
  •High quality service commitment
  •Define the role of  service providers
  •Set service goals
  •Measure service performance
  •Give information and training
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• Commitment to Service Quality

  
  •Service excellence occurs only when top management provides leadership and demonstrates commitment.
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  •Top management’s commitment sets service quality standards, but store managers are the key to achieving those standards.
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  •Consider Stanley Marcus and Neiman Marcus