- 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 effective retailing
Having the right product at the right place at the right time in the right quantity and at the right price is key for running a successful retail business.
Process – A business is set of processes that should be carried out effectively to achieve the objectives of the business.
What is a retail model
A retail business model articulates how a retailer creates value for its customers and appropriates value from the markets.
What is retail place
Retail location means a location where the primary business is selling or leasing goods or services to consumers.
The term includes only that portion of the building or structure in which such goods or services are offered for sale or lease, but it does not include a wholesale or manufacturing business.
What affects retail market
Social factors also influence the retail industry. These affect as well as define the lifestyle, and essential elements such as family, community, socio-economic status, and religion.
For a retail business, it’s a kind of perspective that goes beyond demographics.
What is the basic of 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.
This is achieved by: knowing what customers need.
How do you increase sales in retail?
- Find your store’s peak hours
- Schedule your top sales associates
- Provide effective sales training
- Promote your local brand
- Make loyalty a key part of your retail sales strategy
- Offer free delivery… to your store
- Offer complimentary and paid services
What are the advantages of retail brand
Branding allows retailers to enjoy lucrative benefits like enhanced customer recognition and loyalty, a competitive market edge, and much more.
What are the elements of marketing?
- Product (or Service) Your customer only cares about one thing: what your product or service can do for them
- Price
- Promotion
- Place
- People
- Packaging
- Process
Why retail management is important
Retail management saves time and guarantees that customers can easily find their products in-store.
A smooth process in place avoids chaos and keeps employees and customers satisfied.
What are the 3 types of retailing?
- Self-service retailing
- Limited-service retailing
- Full-service retailing
What are the 3 concepts of marketing?
- Product/Market Fit
- Customer Acquisition Cost
- Customer Service & Support
- Customer Retention
What are the pillars of marketing
The 4Ps of Marketing, often referred to as the Marketing Mix, are Product, Price, Place and Promotion.
Consideration of these four elements should form the basis of any good marketing strategy.
What is the process in marketing
The marketing process consists of four elements: strategic marketing analysis, marketing-mix planning, marketing implementation, and marketing control.
How do retailers attract new customers?
- Optimize your local listing
- Ask for reviews
- Connect with customers on social media
- Offer virtual consultations and shopping experiences
- Pay for digital advertising
- Start a blog
- Host virtual events
What are the functions of marketing?
- Promotion
- Selling
- Product management
- Pricing
- Marketing information management
- Financing
- Distribution
What are the 3 special characteristics of retailing?
- Retailing brings goods and services closer to the consumers
- A Retailer is the last link in the distribution channel
- Retailers buy in large quantities but sell in individual units
- There are large number of retailers as compared to manufacturers and wholesalers
How many types of retail are there
Types of Retailers – Speciality Store, Department Store, Supermarket, Convenience Store, Discount Store, Corporate Chain Store, Voluntary Chain and a Few Others.
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 a successful retailer
Highly successful retailers know their why, and that gives them clarity of purpose and focus.
You can consistently produce, source, and sell the right products when you follow a specific vision.
It also helps you develop a precise company culture that you can stay true to, no matter what’s going on around you.
What is the most important factor in retailing
Customers are the most important part of your retail store.
Is marketing a packaging
Packaging is a subset of marketing where a brand designs and develops the wrapper or container to aid its transport, handling, delivery, and communicate the brand and product information by making it look attractive.
To facilitate safety and aid product storage and transportation.
What are the top five principles of successful retail?
- Principle 1 – The customer is the most important person in your business
- Principle 2 – Retail is detail
- Principle 3 – Understand the 4 Ps
- Principle 4 – Go the extra mile for your customer
- Principle 5 – Location, Location, Location
What factors affect retail?
- Acceptance of internet commerce
- Advertising preferences
- Age distribution
- Buying habits
- Comfort with technology
- Customer service expectations
- Disposable income levels
- Education level
What are the 6 roles of marketing
The six marketing functions are product/service management, marketing-information management, pricing, distribution, promotion, and selling.
The functions must work together to get products from producers to consumers.
What are the five elements of retailing?
- ELEMENT ONE: RESPECTABILITY
- ELEMENT TWO: NOVELTY
- ELEMENT THREE: PERSONALIBITY
- ELEMENT FOUR: COMPATIBILITY
- ELEMENT FIVE: HUMANITY
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 7 C’s of marketing
In contrast to other marketing models, the 7 Cs Compass Model considers both the marketing strategies as well as the segment to which the strategies are being targeted.
The seven Cs are Corporation, Commodity, Cost, Communication, Channel, Consumer and Circumstances.
What are the main functions of retailers
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 5 P’s of retailing
The 5 Ps of product, price, promotion, place, and people are the holy grail of business for retailers and consumer packaged goods (CPG) enterprises.
Sources
https://www.slideshare.net/bmthomas/retail-marketing-in-india
https://chanimal.com/resources/marketing-basics/marketing-mix-4p/
https://www.slideshare.net/ravalhimani/retail-marketing-251236561
https://wheelsofarabia.com/eq9tz4d/encanto-/retail-marketing-slideshare
https://en.wikipedia.org/wiki/Retail
