Succe... ... middle of paper ... ...omotion. Both the sales strategy and the sales promotion give a retailer the tools to evaluate their business and provide a well thought out plan for a retailer to follow. Consumer needs are fulfilled and a retailers financial goals met as well by applying different strategic plans in place to meet the individual needs of the given market. Works Cited Anderson, H., (n.d.). Marketing strategy for westgate mall.
Moreover, sale is company oriented short-term activity while marketing is consumer oriented long-term process. But in sales the customers are treated as the last link in the chain. Marketing is meaning the identification of customer needs and desires and the transformation of them into products and services. Marketing is an understanding of customer needs and needs and the process of delivering the required product to the customer, returns to the company's profits, which are customer oriented processes. Marketing is the business of managing and guiding the flow of goods from manufacturers to consumers.
They store merchandise, mark prices on it, place items on the selling floor and otherwise handle products; usually they pay suppliers for items before selling them to final customers. They complete transactions by using appropriate locations, and timings, credit policies, and other services e.g. delivery. They influence life style of consumers and help people to build their identity in a social setting. Economic Development: Retailing has great contribution on economic development of a nation.
What exactly is a supply chain and how does it ensure that everyone gets what they need? In this paper we will define a supply chain and also take a look at business to business supply chains and business to consumer supply chains and see how they differ and how they are alike. Investopedia.com defines a supply chain as follows: "Supply chains include every company that comes into contact with a particular product. For example, the supply chain for most products will encompass all the companies manufacturing parts for the product, assembling it, delivering it and selling it." (www.investopedia.com) There are many different kinds of products and services out there that supply consumers with the things they need or want but they all have one thing in common and that is that they use a supply chain to make this possible.
Kishore Biyani the CEO of the future group has vast understanding of the consumer insight, has inculcated the habit of observing, understanding consumers, in every employee of the group. In India whenever a consumer needs household items, a typical thought is to seek from the bazaar where complete range of products is available to the consumers. As the store comprises of large mix of products at a discounted price, the name big bazaar was finalised. The idea was to recreate a complete bazaar, with a large product offering and to offer a good depth and width in terms of range.Price was the basic proposition at big bazaar. The big bazaar outlets sold wide range of goods at prices which were 5 to 60% lower than the market price.
In today’s era retail domain is growing on a large scale. Lot of analytics are done in Retail Industry to enhance the revenue out of it . Retailing means selling merchandise in small proportions to the consumers for their end use. According to retailing, the individual reaches a nearby retail store and purchase products as per his need and pocket in small units for his own consumption. The display of products at the store plays an important role in attracting the customers into the store by influencing the buying behavior of the customers.
Effective Communication A retail merchandiser is the contact person for a store. Shoppers and manufacturers both are dependent on him/her. He/she needs to communicate with the staff at the retail store, such as the sales associates and managers, about the store displays and demonstrate to them how to display products effectively. 11.3 Definition and Buying of Retail merchandising Merchandising is about planning and developing a strategy to facilitate a company to sell a range of products that give sales and help achieving profit targets. A Merchandiser is one who negotiates with manufacturer and ensures the product that's bought will help them to achieve the sales.
It is a process through which goods are transported to final consumers. In other words, retailing consists of the activities involved in selling directly to the ultimate consumer for personal, non-business use. It embraces the direct-to-customer sales activities of the producer, whether through his own stores by house-to-house canvassing or by mail-order business. 2.2. Evolution Of Indian Retail Industry : Retailing is one of the largest
Product-based advertising focuses all its promotion on the products being sold. Customer based advertising focuses on a certain segment of the market which research or other information has determined will have the most interest in the product being offered. Often organizations will choose to use product-based advertising, customer based advertising, or a mix of both depending on the type of goods they are selling or their marketing philosophy. Product based marketing strategies are generally used by retail businesses that are in the market to sell a large selection of products to a multi segmented consumer market. Companies wanting to create relationships between the product and their customer mostly use customer-based marketing strategies.
Financial intermediaries are institutions such as banks, credit companies and insurance companies. o Another aspect of microenvironment is the customers. There are different types of customer markets including consumer markets, business markets, government markets, international markets, and reseller markets. The consumer market is made up of individuals who buy goods and services for their own personal use or use in their household. Business markets include those that buy goods and services for use in producing their own products to sell.