Advantages And Disadvantages Of Malls

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Modern retailing has entered India in form of malls and huge complexes offering shopping, entertainment, leisure to the consumer as the retailers experiment with a variety of formats, from discount stores to supermarkets to hypermarkets to specialty chains. They lend an ideal shopping experience with an amalgamation of product, service and entertainment, all under a common roof. Examples include Shoppers Stop, Pyramid, Pantaloon. 1) Challenges faced by mall:- There are many challenges facing many shopping malls just like any other business. How to bring more footfall How to keep cost low How to ensure there is enough parking lot How to bring quality tenants and customers How to attract talented people to join their organizations How to adapt…show more content…
Basic Pricing Methods Once you have data in hand, apply one or more pricing methods to the specific business and market: Cost-Plus: Production costs are determined and then a target profit margin is applied. For example, if a product costs $10 to manufacture, and the business wants to make a 20% profit, the price is $12 per unit. Targeted Return: Investment costs are determined, and a targeted rate of return is applied to deliver the required return on investment. For example, if investment costs are estimated to be $5 per unit, and investors seek a 10% return on investment, the price is $5.50 per unit. Value: The value customers receive is calculated and pricing is applied accordingly. For example, if a personal session with a business advisor provides the same value as a two-day seminar, the personal session could be priced at the same level (or higher if individual attention and mentoring provides an even greater value than group-based…show more content…
Promotional strategies will depend on the size, situation and specialties of the centre. When planning the annual strategy, it is important to ensure that the correct timing and mix of promotions is taken into consideration. When planning, it is imperative to take into consideration religious holidays, public holidays, and school holidays. Provision should also be made for major merchandising opportunities and low trading periods must not be forgotten. Before any promotional proposal is accepted, the marketing manager should be satisfied that it will be promoted and advertised adequately so that it will draw additional shoppers to the centre. It may be advisable to issue instructions on the format of advertising posters. Advertising is very necessary to support promotions. Promotion depends on heavy advertising and public relations to build brand awareness and educate shoppers on the product’s benefits. advertising is the key component of a promotion and is usually one of the most visible elements of a marketing communications program. Advertising is paid, nonpersonal communication transmitted through media such as television, radio, magazines, newspapers, direct mail, outdoor displays, the internet, and mobile devices. Internet advertising is the fastest growing medium, while traditional media such as newspapers, radio, and magazines are struggling with meaningful declines in ad revenues. Because

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