Retailing Mix
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RETAILING MIX
PRODUCT
Retailer decide what to sell on the basis of what their target market wants to buy.
They can base their decision on market research, past sales, fashion trends, customer request & other sources.
More width & depth of product assortment.
PROMOTION
Advertising, PR, sales promotion.
Goal : to help position the store in consumer minds.
Retailers advertising is carried out mostly at the local level . Local advertising by retailers usually provides specific info about their stores, such as location, merchandise, hours, prices & special sales.
National retail advertising generally focus on image. (Gucci, Adidas, Nike)
LOCATION
Decision important
Retailer making a large, semipermanent commitment of resources that can reduce its future flexibility.
Location will affect the stores future growth & profitability.
Site location begins by choosing a community consider the areas economic growth potential, the amount of competition & geography.
Choose a site Freestanding store
Shopping centres
Freestanding stores :
An isolated, freestanding location can be used by large retailers like Wal-mart.
Seller of shopping goods like furniture & cars because they are destination stores (are store consumer seek out purposely plan to visit).
Isolated store location – advantages :
Low site cost or rent.
No nearby competitor.
Disadvantages :
Hard to attract customer to freestanding location.
No other retailers are around to share costs.
Shopping centres :
Strip centre :
Located along busy street.
Usually included supermarket, a variety store & perhaps a few specialty store.
Mall : offering a much wider variety of merchandise.
Most are landscaped with trees.
Fountains.