外文原文
Creating the futuristic retail experience through experiential marketing: Is it possible ? An exploratory study
Srini R. Srinivasan
is Assistant Professor of Retail program at the K.J. Somaiya Institute of Management Studies amp;Research, India. He holds a Master degree in Management and Ph.D. in retail management from Mumbai University. He published two text books in the fi eld of retail management.
Rajesh Kumar Srivastava
is presently working as Director in SIESCOMS. He has published more than 150 research papers and authored fi ve text books in the area of marketing.
ABSTRACT
The rapid pace of globalisation, increased competition and excessive brand clutter are changing the market landscape in retail and posing new challenges for marketers and customers alike. Coupled with economic slowdown, environmental crises and more discerning consumers, marketers are employing innovative strategies to address the changing consumer profi les. Marketers are building brands based on inputs, and aim to create experiences that shall be cherished forever. In today rsquo; s global marketplace, it is all about feel, relate and act. This is driving the consumption and choice of brands. The human interface is becoming a critical component and is providing the necessary touchpoints for generating memorable experiences. This research article examines and analyses the aspects of experiential marketing, both from the marketer rsquo; s as well as the consumer rsquo; s point of view. This article further addresses the issue of how to create and implement experiences in retail segment, and explains a model that proposes a new way of looking at experiential marketing. Journal of Retail amp; Leisure Property (2010) 9, 193 – 199. doi: 10.1057/rlp.2010.12
Keywords: experiential marketing ; feel ; think ; act ; brand identity ;retailing
INTRODUCTION
An experiential approach is the next logical stage in consumer demands, beyond commodities, goods or services. The experiences provided to consumers may be similar to those provided to other consumers.However, the assimilation of this is deeply personal. For example, one person may wear a luxury chronometer to boost his social acceptance, another, as an aspect of self-actualisation, yet another because of a passion for chronology. Experiential marketing creates memorable experiences. The consumer fondly remembers them, and even shares them with peers and family, generating increasing sales through the power of word of mouth and consumer loyalty. The experience deepens with each successive interaction. Experiential marketing necessarily involves consumer participation and goes beyond the consumer rsquo; s stated needs (addressed by the consumption categories), taking into account the sociocultural context. Thus, experiential marketing addresses not simply the wants and needs, but the self-image, social goals, dormant emotions,values and deeply ingrained desires of the consumer.
A necessary factor for the creation of an experience is a sense of brand identity. The product or service should be known not by its individual properties, but by its brand. Providing consumers with experiences allows the business to charge a higher price, and thus earn higher revenues. This is because the consumer is paying not for the product,or service, but for the experience, which is unique. The price point is a function of the value of remembering the experience. Hence, businesses must strive to create memorable experiences. Experiential marketing is entertaining to the consumer.
The experiential model is based on providing good experiences and ensuring consumer delight. It stresses on creating an emotional bond and a relationship with the customer. A drawback is that these traits are diffi cult to measure. Although customer turnover and even satisfaction in the traditional approaches can be measured, parameters such as delight are diffi cult to measure. Challenges in measuring these parameters may lead to some diffi culties while implementing the experiential model, and determining its effectiveness.
Ishanya Mall, Pune
Ishanya is a Speciality Mall focused on the interior and exterior needs of a home or offi ce owner, builder / developer or an architect. It facilitates shopping that is destination based. It is targeted at those who have an interest in interior design – either as consumers, or the real estate industry, such as architects, interior designers, builders or developers.Ishanya is designed as a venue for the latest in world-class design inspiration ideas, expertise and solutions. To its customers, Ishanya offers choices between a multitude of design possibilities. It offers the support through its services, which help lay consumers in resolving dilemmas, helping them fi nd solutions, helping create dreams and bringing those dreams to fruition.
Mall design
Ishanya rsquo; s architecture has a theme of concrete, glass and steel, housed in a 10-acre green, Zen-themed campus. Glass and water structures and carefully designed lighting are used to enhance the aesthetic beauty of the architecture. Ishanya has also used intelligent building systems that will result in functional safety, as well as energy conservation and effi ciency through rainwater harvesting and waste management. The centre is equipped with a sophisticated fi re-detection system,fire fighting systems / sprinklers, CCTV and access control. The roofing is designed with special insulation, keeping in mind the energy consumption for air conditioning.
With over 52 Product and Service Categories, spread over 5 50 000 sq.ft., it provides ample exhibition space for hosting product launches,exhibitions and art shows, perfect for builders, developers, architects,designers, students and sculpture dealers.
BACKGROUND
The current trend in the business world reveals new solutions developed to offer customised products. This does not simply
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