Marketin Mix
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Transcript of Marketin Mix
Retail marketing mix Retail marketing mix is the term used to
describe the various elements and methods required to formulate and execute retail marketing strategy.
Retail managers must determine the optimum mix of retailing activities and co-ordinate the elements of the mix.
The aim of such coordination is for each store to have a distinct retail image in consumers’ mind.
The mix may vary greatly according to the type of market the retailer is in, and the type of product/services.
While many elements may make up a firm’s
retail marketing mix, the essential elements
may include:
Store location, merchandise assortmentsStore ambience, customer service, price, Communication with customers
Personal sellingStore imageStore designSales incentivesPeopleProcessPhysical evidence
The retailMarket mix
Product
Price
Place/Location
Promotion
Personality
Product
Product (merchandise) Product development Product management Product features and benefits Branding Packaging After-sales services
Price
Costs Profitability Value for money Competitiveness Incentives Quality Status
Place
Target market Channel structure Channel management Retailer image Retail logistics Retail distribution
Promotion
Developing promotional mixes Advertising management Sales promotion Sales management Public relations Direct marketing
Personality The personality or image of a retail store is
an integral part of the retailing mix. It differs from the other P’s however, in that the other parts of the mix can be changed quite rapidly, but the personality of a store is a long run concept that is learned by the customer over time.
The retailer’s image is an important tool that a company’s management uses to help differentiate itself from other retailing organizations. Retail image assists the consumer in making comparisons among the retailers.
Presented By:o Rishabh Sonio G.Niket Bhandario Mohit Kachhwaha
Presented To:
Mr. Deepak Bhandari