RETAIL BUSINESS
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Retail  is the sale of goods and services from individuals or businesses to the  end-user . PowerPoint PPT Presentation


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RETAIL BUSINESS. Retail  is the sale of goods and services from individuals or businesses to the  end-user . Retailers are part of an integrated system called the supply chain.

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Retail  is the sale of goods and services from individuals or businesses to the  end-user .

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RETAIL BUSINESS

  • Retail is the sale of goods and services from individuals or businesses to the end-user.

  • Retailers are part of an integrated system called the supply chain.

  • A retailer purchases goods or products in large quantities from manufacturers directly or through a wholesale, and then sells smaller quantities to the consumer for a profit. Retailing can be done in either fixed locations like stores or markets, door-to-door or by delivery.

  • The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as for the public.


Types of Retailers

  • Retailers Use Different Retail Mixes

    -merchandise: variety (breadth) / assortment (depth)

    -services

    -store design, visual merchandising

    -location

    -pricing

  • Infinite Variations

  • Some combination of retail mixes satisfy the needs of significant segments and persist over time.


TYPES OF RETAIL OUTLET


Three Tiers of Department Stores


Merchandise/Service Continuum


Marketing strategies

  • pricing and advertising

  • promoting

  • packaging


The goal of any ad is

  • to persuade consumers that they need a particular product or service.

  • the message of any form of advertising must appeal to the product's key demographic,

  • an ad must speak directly to the person most likely to need or want the product being sold.

  • advertising is heavily linked to consumer behavior, since no ad will influence a person's behavior if it seems irrelevant to his or her desires.


Consumer behavior and advertising are closely related

  • the main goal of advertising involves using the behavior of potential buyers.

  • The art of advertising is to use visual images and convincing copy to give consumers a sense wishing for something of need for products or services.


Advertising refers to

  • ways in which marketers, retailers, and other professionals communicate with potential consumers or prospects.

  • It usually involves the use of:

    • printed media communications,

    • television

    • Internet

    • radio

Advertising


TYPES OF ADVERTISING 


TYPE OF TRUTH IN ADVERTISING INFORMATION 


Packaging does influence customer behavior

  • Marketers must adapt the packaging to their target consumers:

    • a child -- cartoon character on a cereal box

    • a mother -- clearly labeled as being nutritional

    • older people -- product that is packaged in small quantities

  • Practicality of use is also important:

    • the mother of young children -- easy to open for her children's lunch-box,

    • a bachelor won't mind if a jam-jar is difficult to open.


Promotion

  • These elements are personal selling, advertising, sales promotion, direct marketing and publicity.

  • Fundamentally, however there are three basic objectives of promotion. These are:

  • To present information to consumers as well as others.

  • To increase demand.

  • To differentiate a product.

  • There are different ways to promote a product:

    • internet advertisement,

    • special events,

    • endorsements,

    • and newspapers

    • incentive like discounts, free items, or a contest.

  • "promotion" (marketing company) = "special offer" (public).


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