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

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

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.


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

TYPES OF RETAIL OUTLET


Three tiers of department stores

Three Tiers of Department Stores


Merchandise service continuum

Merchandise/Service Continuum


Marketing strategies

Marketing strategies

  • pricing and advertising

  • promoting

  • packaging


The goal of any ad is

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

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

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

TYPES OF ADVERTISING 


Type of truth in advertising information

TYPE OF TRUTH IN ADVERTISING INFORMATION 


Packaging does influence customer behavior

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

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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