Retail Marketing Essay Example | Topics and Well Written Essays - 1000 words

Retail Marketing - Essay Example A good marketing mix entails place, packaging, product, promotion and price. Strategy of retailing is always first drawn in a business plan. A business plan entails information about the objective and goals of the business. The plan always embraces research over who the business’s potential customers are as well as what their necessities. The plan should consist decisions on marketing mix style, such as how the customers will acquire the products. An efficacious retail company recognizes their market, the essential of considered location, and their customers. Competition in the retail business is sometime fierce, thus, such companies need the superlative micro marketing implements or factors accessible to analyze where to locate new stores inaugurate client profiles, and regulate preeminent marketing practices in order to treasure new customers (Berman, and Evans, 30-90). Some of the factors are explained in the following paragraphs. First factor is the retail pricing. In the industry of commerce retail pricing is denoted as psychological prices. In retail marketing, the prices are always fixed and exhibited on signs. This is because when prices are not displayed clearly, there can be price discernment. This is where the price for sale relies on the customers (Berman, and Evans, 30-90). ... Using of clients patronage, more or less constantly predicts the necessity for staffing for different function. Typically necessity varies extensively. Compliant staff exploitation to staffing necessities obliges a flexible workforce that can be available when required (Kappa, 90-9). Third factor is the transfer mechanism in retail marketing. It is tremendously vital for retailers to consider the means of delivering their products to their customers. There are various means of delivering goods to consumers: Counter services, it is mostly applied where products are not accessible to clients and must be acquired from the seller. This delivery service is mostly for small costly goods such as jewelry and controlled substances such as liquor and medicine (â€Å"Turning the Retail 'Showrooming Effect' into a Value-add†). Another means of getting goods to customers is through delivery. With this service products are shipped directly to clients home or at their work (â€Å"Retail Mar keting†). Telephone ordering is common nowadays either from television advertisement, newspaper, catalog or a local restaurant menu, for instant services such pizza delivery. Lastly is the door to door marketing, where the retailer travels with products for sale (Kappa, 90-9). Fourth factor of retailing is the customer services. This is the sum of deeds and components that permit the consumers to obtain what they desire from the retailer establishment. It is advisable for sales associates to welcome customers and make themselves available to aid the customers reach what they need (â€Å"Advance marketing strategies with ROI at every step†). When customers enter into the store, it is essential that the sales associate to make sure customers feel at home,