Order Retail Marketing Assignment Help
Retailing is the selling of goods to the end users. In retail marketing, you learn about various aspects of retail management, branding and how to reach to the ultimate consumers effectively. It is the retail marketing on which the profitability of your company depends. Your aim is to attract the maximum number of customers for your goods or for the company for which you are working. If you are studying Marketing Management, the Retail Marketing will take much of your time and it will appear in your course in different forms at different lessons.
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Retail Marketing: An Overview
Like any form of marketing, in retail, you have to learn the 4Ps of marketing. They are Product, Price, Place, and Promotion.
Product: It is what a retailer sales from his or her retail counter. There are two types of goods that the retailers’ sale from the outlets: hard goods and soft goods. Some examples of hard goods (also called durable goods) are electronic products, cooking appliances, sporting goods, etc. Some examples of soft goods are cosmetics, paper products, etc. In a traditional market, we are habituated to see the specialist retailers like the retailers of electronic products, the retailers of garments, groceries, etc. In the modern-day supermarkets, we could see all types of hard and soft products under the one roof.
Price: It is a key element in the retail industry. The companies are always throwing the tough competition to the rivals in this respect. The companies take the retailers as the medium to reach to the end-users. Hence, they offer different discounts and special prices to the retailers, so that the retailers promote their products. Retailers could not sell any product above MRP. They, like the suppliers, need to follow certain marketing or retailing strategy to maximize their profits and customer base.
Place: This is where a retailer establishes his retail shop. The place is vital because it determines how much customer base would the retailer enjoy? These days, the retailing concept has changed a lot. A supermarket requires a big area to establish while an online retail sales products with his virtual establishment. Apart from that, in the traditional retailing concept, retailers want to be present in the common market where customers gather every day.
Promotion: It includes advertisement, product or brand promotion, branding, publicity, digital marketing, and direct marketing. Retailers need to use any one, two, or a combination of some of these promotional tools to promote his business. Promotion can be for different objectives. For a traditional retailer, promotion requires to aware people about his existence in the market. Sometimes, the retailers need to promote a specific product just to aware the customers that this product is available only from him.
A smart retailer always tries to reach to the customers with some specialties. He studies the market and the demand of the customers before following a retailing strategy. It is indeed a challenging job. As a professional in this field, you have to accept various retail marketing challenges.
Retail Marketing Coursework Writing Help
The coursework assignments in Retail Marketing are not going to be smooth-sailing. In most of the situations, you will be given certain problem which you have to solve. You have to use resources (Books, Journals, Articles) accordingly to gather information and apply them correctly to the assignment.
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