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

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).