Abstract
The small retailer has a difficult time competing with large mass merchandisers, category killers, and retail chains. Price discounting is not an option, because the small retailer can never beat the price of large retail operations. Therefore, small retailers must look to other means of differentiation. This paper proposes a customer value concept that is based on the premise that customers are of varying value to a retail operation. Dividing a retailer's customer base into four buckets, marketing strategies are suggested for each group that will optimize a small retailer's marketing investment. The success of this type of marketing approach is based on an understanding of brand value, repeat purchase behavior of customers, and customer relationship management (CRM) technology.
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