components of retail strategy

target market selection depends upon the size of the market, profit potential of the market and level of competition. ultimately the retailers decide their target market on the basis of neighbourhood. merchandising strategy refers to decision about the product lines, specific items within lines and the depth. nathu’s sweets shop retailer has not only sweets, but also namkins and chat. your area’s chemist keeps medicines according to type of doctors in the vicinity, the medicines prescribed by them and the other packed skin-care and hare-care items. some of the retailers design their marketing strategy around the services for shoppers. basic objective of all customer services is to attract and retain target customers.

one retailer gives a branded bread packet for rs 20, and the other one for rs. whatever the retailer adds to the cost of a product to determine selling price is known as markup and when the retailer gives rebate or discount to lower down the price the retailer is engaged in markdown. location depends upon type of merchandise, the retailer’s finances, characteristics of target market and the availability of site. planned shopping centres can be of five types neighbourhood shopping centre (especially for convenience stores and total number of shops around 15 with a few shopping goods stores), community shopping centre (shops around 30 to serve a population of around to lure customers retailers use different techniques of promotion. while the neighbourhood retailers depend on word-of-mouth communication, the larger retail stores go in for advertising, still bigger stores especially big bazaar buys full page in national newspapers and provide different facilities to attract footfalls. today, they prefer to shop at a retailer whose exterior and the interior attract them. interior atmospherics include store layout, merchandise presentation, lighting, air conditioning, colour combination, sounds, scents and cleanliness. our mission is to provide an online platform to help students to discuss anything and everything about essay.

anthropologie stores have low density, emphasizing design elements that contribute to the creative-clothing and house-wares brand. what is it about the store that you like? they refer either to the atmosphere of the store or the layout of the store. is the shopper invited to linger on a couch or inviting chair, or is he encouraged to simply purchase and leave? one important element of the atmosphere is density. the density of merchandise and fixtures also has a significant impact on the atmosphere of the store.

the shopper is trying to collect many different products from all areas of the store and would rather have shelves stacked than have to wander much farther through a store with more empty space. grocers have conducted studies to optimize the layout of the store and the position of items on the shelves. this is intended to facilitate meal planning before the shopper arrives at the meat and dairy departments. amazon has set the standard for ease of purchase with its one-click checkout solution. retail employees are the face of the brand to the shopper. when an employee is helpful and efficient with the selection and/or purchase of a product, it’s an important and necessary aspect of the buyer’s retail experience. the following video shares how one retail giant, costco, understands the importance of treating its employees well in order to ensure good customer service and a positive shopping experience every time.

there are 5 components in a retail strategy: scope, goals and objectives, resource deployment, a sustainable competitive advantage, and synergy. these 5 components help bring new customers to a business or help increase how much each customer already purchases. a retailer’ marketing strategy or retail strategy is concerned with two aspects: 1. selecting a target market, and. the retail marketing strategy includes all of the elements of the traditional marketing mix: retailers buy product from, what is retail strategy, what is retail strategy, types of retail strategy, developing and applying retail strategy, principles of retail strategy. retail marketing pertains to the strategies and tactics that retailers use to attract customers and drive sales. retail marketing has 4 key components, also knows as the \u201c4 ps\u201d: product, price, place, and promotion.

a retailer must engage in planning, research and analysis before implementing a marketing strategy. at the core of any merchandise management & pricing: width and depth of merchandise, quality of goods & retail marketing is the process of bringing a product directly to customers in a retail store components of retail marketing include ergonomic packaging, competitive value or that of competing products, it’s not a great strategy for retail items., retail strategy examples, importance of retail strategy, integrating and controlling the retail strategy ppt, how to develop a retail strategy, retail strategy powerpoint, retail marketing strategy, apply appropriate customer service strategies in different retail formats, the key strategic elements of the retail strategy are

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