Tag Archives: analytics

Pre-Election Economics Interview with Hof Prof

Hofstra University’s Zarb School of Business Distinguished Professor Joel Evans was recently interviewed by the award-winning Hofstra radio station WHRU about the impact of the presidential election on the economy. Here is that 25-minute interview. The views are those of … Continue reading

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information | Tagged , , , , , , , , , , | 1 Comment

The Most Desirable Employers of 2016

Each year, Universum publishes the results of its extensive surveys in various fields and countries/regions. This post covers Universum’s 2016 survey of more than 72,000 U.S. students (more than 20,000 business majors) at 359 universities and colleges about the most … Continue reading

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Retailers: Engage in Scenario Planning. Please!

Note: This post applies to both (a) business planning and the retailer’s flexibility to change as needed and (b) personal planning and YOUR flexibility to change as necessary. In either case, we must be able to adapt to an uncertain … Continue reading

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 8: Putting It All Together | Tagged , , , , , , , , , , | 1 Comment

Better Understanding the Consumer’s Path to Purchase

We know that consumers shop differently for various goods and services. But we can always learn more. Millward Brown Digital recently produced a report entitled “Demystifying the Consumer Journey?” A free download is available with a simple login. The chart … Continue reading

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , , , , , , , , , | 1 Comment

All Types of Retailers Need to Use Database Marketing

Both small and large firms need to have good customer databases, although their approaches may be quite diverse. This television interview of Hofstra University’s Professor Joel Evans (from the Zarb School of Business) recently appeared on Fios1’s Money & Main$treet … Continue reading

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Video Clips (non-career) | Tagged , , , , , , , , , , , , , , | 1 Comment

Retailers: Are You Studying Demographics AND Psychographics?

Most retailers use consumer demographics (easily identifiable and measurable data) when determining and appealing to their target market. In addition, many retailers recognize that understanding consumer lifestyles and personalities are crucial in target marketing. However, too many companies do not … Continue reading

Posted in Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer | Tagged , , , , , , , , | 1 Comment

Better Utilizing Real-Time Data

As we have noted before (see, for example, 1, 2, 3), many retailers are becoming more involved with retail analytics and big data. But, are they doing enough? Consider these observations by Ray Hartjen, reporting for RetailNext: “The best in retail has … Continue reading

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Technology in Retailing | Tagged , , , , , , , , , , , | 2 Comments