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Using Transaction Utility Approach for Retail Format Decision

This is a research report on Using Transaction Utility Approach for Retail Format Decision uploaded by Ayesha Shaikh in category: All Documents »  Entrepreneurship »  Managing Sectoral Enterprises- Agri and Services section of our research repository.
806 views, 0 comments, Last Update: May 4, 2015.
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Tags: etail Formats , Classification of Formats , Vertical Marketing System , Store Based Retailer
Description:
Transaction Utility theory was propounded by Thaler to explain that the value derived
by a customer from an exchange consists of two drivers: Acquisition Utilities and
Transaction utilities. Acquisition utility represents the economic gain or loss from the
transaction. Where as transaction utility is associated with purchase or (sale) and
represents the pleasure (or displeasure) of the financial deal per se and is a function of
the difference between the selling price and the reference price. Choice of a format has
been studied from several dimensions including the cost and effort as well as the nonmonetary
values.
However,
the
studies
that
present
the
complete
picture
and
combine

the
aspects
of
the tangible
as
well as intangible
values derived out
of the
shopping

process
are
limited.
Most
of
the studies,
all of them
from
the
developed
economies,

have
focussed
on the
selection
of
a store.
They
represent
a scenario
where
formats
have
stabilised.
However,
in Indian
scenario
formats
have been
found
to
be
influencing
the

choice
of store
as
well as orientation
of
the
shoppers.
Also,
retailers
are experimenting

with alternate format with differing success rates. The author has also not found a study
that has applied this theory. It is felt that the Transactional Utility Theory may provide
a suitable approach for making format decisions.



 

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