Customers are the most important part of your retail store.
Why is assortment important in retail
Planning an Assortment provides you with a clear direction as to how to break up the spend to give each and every store a meaningful range, which supports their sales, fits in their space and works to their strengths.
What are the nature of retailing
Retailing involves retail stores being located in convenient places, arranging goods according to different price bands, selling goods in the quantities convenient to the customers, proper after sale services and a wide range of sales promotion measures to attract the customers.
What are the 4 functions of retailing?
- 1) Delivery of the goods to the end consumer
- 2) Is an essential part of the distribution chain
- 3) Finances the wholesaler
- 4) Stores the goods according to market requirement
- 5) Lends a hand in manufacturer’s marketing initiative
- 6) Assumes storage and credit risks
What is process in marketing mix
For the purposes of the marketing mix, process is an element of service that sees the customer experiencing an organization’s offering.
It’s best viewed as something that your customer participates in at different points in time.
What are three examples of retail markets?
- Peddlar and Street Hawkers: Those who sell products like Vegetables, Grocery, Small demand consumer durables carrying goods on their head or on a bicycle or 4 wheeled trolley
- Bazaars:
- Convenience Stores:
- Discount Store:
- Duty Free Shops:
- Insurance:
What is the role of retail
The primary function of a retailer is selling the products to the customers for which various techniques or business practices are being adopted by the retailer to achieve the strategic goals.
What are main types of marketing?
- Outbound marketing
- Personalized marketing
- Direct mail
- Partner marketing
- Telemarketing
- Public relations (PR) marketing
- Word of mouth marketing
- Stealth marketing
What is marketing mix PDF
According to Philip Kotler “Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”.
The controllable variables in this context refer to the 4 ‘P’s [product, price, place (distribution) and promotion].
What is promotion in marketing mix
Promotion in the marketing mix refers to communication with the specific objective of informing, persuading and remembering a target audience.
What are the 7 categories of retailing?
- Grocery/Supermarket
- Convenience Store
- Big Box/Superstore
- Specialty Store
- Department Store
- Discount Store
- Off-Price Retailer
What are the features of marketing?
- Customer focus: The marketing function of a business is customer-centred
- Customer satisfaction:
- Objective-oriented:
- Marketing is both art and science:
- Continuous and regular activity:
- Exchange process:
- Marketing environment:
- Marketing mix:
How many types of marketing are there
Types of Marketing – Top 5 Types: Social Marketing, Service Marketing, Green Marketing, Holistic Marketing and Direct Marketing.
Marketing as a discipline is constantly evolving.
What are retail items
Retail Items means products such as apparel, books, and so on as defined by the authority in the Concession Agreement, as enclosed to this RFP, to be made available for sale at the retail outlets.
What are the 5 marketing concepts
The five main marketing concepts are production, product, selling, marketing, and societal. Companies utilize these five concepts in regards to the product, price, distribution, and promotion of their business.
What are the 4 types of marketing
The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix.
These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other.
What is retail marketing PPT
Retailing -All activities involved in the marketing of goods and services directly to the consumers for their personal, family or household use or Retailing includes all the activities involved in selling goods / services directly to final consumers for personal , non-business use.
What is an example of retail
Retail businesses sell items or services to customers for their consumption, use, or pleasure.
They typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer.
Examples of retail businesses include clothing, drug, grocery, and convenience stores.
What type of selling is retail
Retail sales is the sale of consumer goods, or final goods, by businesses to end consumers, and includes in-store sales as well as online sales.
Products may be durable (with a significant expected shelf life) or perishable (such as groceries).
Food, clothing and furniture are some broad examples of consumer goods.
What is image mix in retail
A retail mix, defined, is the marketing plan put in place to address key factors such as location, price, personnel, services, and goods.
The retail mix is also referred to as the “6 Ps.” Click for a larger image.
What are the needs of retailing?
- Customer Satisfaction
- Hassle-free Shopping
- Minimizes Unnecessary Chaos
- Proper Accounting
- Well-organized Store
- Prioritize Problems
- Don’t Waste Your Time
- Learn To Say No
What are the five 5 main important factors for a retail business
There are five keys to success in retail: location; marketing; store layout and appearance; service and assortment, and bundle selling.
What is retail explain
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers.
A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit.
What are the 3 most important things in retail
Ask anyone who is in retail what the three most important things are and they will invariably trot out the trite words, “position, position, and position”.
What is the basis of marketing
Defining marketing Marketing is about planning and executing the development, pricing, distribution and promotion of products and services to satisfy the needs of your customers.
The main role of marketing is to deliver customer value to attracting new customers and keeping existing ones.
Which industry is retail
The retail industry includes traditional sales outlets for consumers and business as well as online retailers and commission based selling.
Businesses include: electrical, electronic and whitegoods. floor coverings, furniture and housewares.
What is the scope of retailing
It is one of the fastest growing industries in India and is providing employment opportunities to many people.
Retailing provides employment in two ways. Firstly, it provides entrepreneurship opportunities to the people and secondly, it provides employment to so many people who cannot own the retail stores.
What is price in marketing mix
Price: refers to the value that is put for a product. It depends on costs of production, segment targeted, ability of the market to pay, supply – demand and a host of other direct and indirect factors.
There can be several types of pricing strategies, each tied in with an overall business plan.
What are the functions of retail management
Retail management involves creating an effective operation that benefits both the customer and your company.
Managers must keep records of all products coming into the store, assign SKUs to each product, plan the store layout, and much more.
Processes store managers are responsible for include: Internal planning.
What is retail store design
Retail store design is a branch of marketing and considered part of the overall brand of the store.
Retail store design and display factors into window displays, furnishings, lighting, flooring, music and store layout to create a brand or specific appeal.
Sources
https://managementstudyguide.com/types-of-retail-outlets.htm
https://www.panderasystems.com/benefits-of-marketing-mix-modeling/
http://www.uop.edu.pk/ocontents/marketing%20mix.pdf
https://investinganswers.com/dictionary/m/marketing-mix
