Michael Levy - Retailing Management

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RETAILING eleventh Edition

MANAGEMENT

Michael Levy, PhD

Babson College

University of Denver

Dhruv Grewal, PhD

Babson College

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RETAILING MANAGEMENT

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ISBN 978-1-265-07246-9

MHID 1-265-07246-9

Cover Image: Narith Thongphasuk/123RF

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To Barton A. Weitz, our coauthor, colleague, and friend.May he rest in peace.

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About the Authors

Michael Levy

Zackary Jarmon

Michael Levy, PhD (Ohio State University), is the Charles Clarke Reynolds Professor of Marketing Emeritus at Babson College and Distinguished Scholar in Residence, Daniels College of Business, University of Denver. He received his PhD in business administration from Ohio State University and his undergraduate and MS degrees in business administration from the University of Colorado at Boulder. He taught at Southern Methodist University before joining the faculty as professor and chair of the marketing department at the University of Miami.

Professor Levy received the inaugural ACRA Academic Lifetime Achievement Award presented at the 2015 AMA/ACRA (American Marketing Association/American Collegiate Retailing Association) Triennial Conference, and was recognized for 25 years of dedicated service to the editorial review board of the Journal of Retailing in 2011. He won the McGraw-Hill Corporate Achievement Award for GrewalLevy Marketing 2e with Connect in the category of excellence in content and analytics (2010); Revision of the Year for Marketing 2e (GrewalLevy) from McGraw-Hill/Irwin (2010); the 2009 Lifetime Achievement Award, American Marketing Association, Retailing Special Interest Group (SIG); the Babson Faculty Scholarship Award (2009); and the Distinguished Service Award, Journal of Retailing (2009) (at winter AMA).

He was rated as one of the best researchers in marketing in a survey published in Marketing Educator (Summer 1997). He has developed a strong stream of research in retailing, business logistics, financial retailing strategy, pricing, and sales management. He has published over 50 articles in leading marketing and logistics journals, including the Journal of Retailing, Journal of Marketing, Journal of the Academy of Marketing Science, and Journal of Marketing Research. He has served on the editorial review boards of the Journal of Retailing, Journal of the Academy of Marketing Science, International Journal of Physical Distribution and Materials Management, International Journal of Business Logistics, ECR Journal, and European Business Review, and has been on the editorial advisory boards of European Retail Research and European Business Review. He is coauthor of Marketing 8e (2020). Professor Levy was coeditor of the Journal of Retailing from 2001 to 2007. He cochaired the 1993 Academy of Marketing Science conference and the 2006 summer AMA conference.

Professor Levy has worked in retailing and related disciplines throughout his professional life. Prior to his academic career, he worked for several retailers and a housewares distributor in Colorado. He has performed research projects with many retailers and retail technology firms, including Accenture, Federated Department Stores, Khimetrics (SAP), Mervyns, Neiman Marcus, ProfitLogic (Oracle), Zale Corporation, and numerous law firms.

Dhruv Grewal

Morse Photography

Dhruv Grewal, PhD (Virginia Tech), is the Toyota Chair in Commerce and Electronic Business and a Professor of Marketing at Babson College. His research and teaching interests focus on direct marketing and e-commerce, marketing research, the broad areas of value-based marketing strategies, services and retailing, and pricing. He is listed in The Worlds Most Influential Scientific Minds, Thomson Reuters 2014 and 2021, and again as a Clarivate Highly Cited Researcher 2020 and 2021. He is also a GSBE Extramural Fellow, Maastricht University, and a Fractional Professor of Marketing at University of Bath. He has been an Honorary Distinguished Visiting Professor of Retailing and Marketing, Tecnolgico de Monterrey; a Global Chair in Marketing at Page vii University of Bath; an Honorary Distinguished Visiting Professor of Retailing and Marketing, Center for Retailing, Stockholm School of Economics; and a Visiting Scholar at Dartmouth. He has also served as a faculty member at the University of Miami, where he was a department chair.

Professor Grewal was ranked first in the marketing field in terms of publications in the top-six marketing journals during the 19911998 period and again for the 20002007 period, and ranked third in terms of publications in Journal of Marketing and Journal of Marketing Research during the 20102019 period. He was also ranked first in terms of publications and third in citations for pricing research for the time period 19802010 in 20 marketing and business publications. He has published over 180 journal articles in Journal of Marketing, Journal of Consumer Research, Journal of Marketing Research, Journal of Retailing, Journal of Consumer Psychology, Journal of Applied Psychology, and Journal of the Academy of Marketing Science, as well as many other journals. He has over 69,000 citations based on Google Scholar.

Professor Grewal currently serves on numerous editorial review boards, such as Journal of Marketing (associate editor), Journal of the Academy of Marketing Science (area editor), Journal of Marketing Research (associate editor), Journal of Services Research, Journal of Interactive Marketing, Journal of Business Research, and Journal of Public Policy & Marketing, and on the advisory board for Journal of Retailing. He has also served on the boards of