Retail management a component of marketing

History of past sales is available Limited past sales history is available It provides relatively accurate forecasts It is difficult to forecast sales Factors Influencing Merchandising The following factors influence retail merchandising: Size of the Retail Operations This includes issues such as how large is the retail business? What is the demographic scope of business:

Retail management a component of marketing

Publicity refers to any non-paid communication to promote an organization or its products and services in public media. The publicity differs from advertisement in following senses. It assists in the launch of new goods and services at mass level. It creates interest in the goods and services category.

Publicity helps in reposting a mature product. Publicity has the following advantages: The first advantage of publicity is that it is credible because nothing is paid for it and the presentation is entirely based on independent assessment.

Retail management a component of marketing

Publicity appeals to mass audience at a time. It costs nothing to an organization and is widely used means of promoting a product. As publicity is done in newspapers, magazines, journals and online newspapers etc, large number of general persons can be covered.

But the senior management has to decide what advertising vehicle should be selected on the basis of availability of funds, reach of the media, nature of competition and considering on whom the goods and services are aimed for.

It means releasing news in the media about the company, its offerings etc.

What is retail management? definition and meaning -

It implies giving presentations through speeches about the company and its goods and services etc. Sometimes, marketers organize some special events such as conferences, debates, seminars, workshops, awareness camps, games, quizzes, star nights, beauty contests, singing competitions etc.

It is a form of mass communication, a powerful marketing tool, a component of the economic system, a means of financing the mass media, a social institution, and an art form, an instrument of business management, a field of employment and a profession.

Advertising may be sign, a symbol, an illustration, an ad message in a magazine or newspaper, a commercial on the radio or on television, a circular dispatched through mail or a pamphlet etc. Non — personal advertising would mean that it is not on a person-to-person basis.

Goods, Services, Ideas for action would mean making a consumer aware about the product of the firm. Paid by an identified sponsor implies that the advertiser has to pay the media for the services it seeks.

It is essentially an art of persuasion in order to influence people. The process includes human behaviour and manner in which people react to certain situations.

Personal Selling involves person-to-person communication with the prospect. It is a process of developing relationships, discovering needs, matching the appropriate products with these needs and communicating benefits through informing, reminding, or persuading.

Personal selling is thus, considered as a process that adds value. Undoubtedly, personal selling provides an effective and efficient solution to most of the selling problems.

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However, its economic efficiency relative to other element of the marketing mix needs to be thoroughly appraised. The most obvious situations where personal selling in an organization comparatively becomes effective and relevant are:A good marketing plan is full of dates and details.

Strategy probably drives a good plan, but tactics, programs and details make the difference. As much as possible, the plan has to tie results back to activities and come up with hard numbers to measure those results. Principles of Tourism.

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An introduction to the fundamentals and basic processes within the international tourism industry, including its meaning, development, components and dynamics that will enable each student to develop and an understanding of tourism consumer behaviour, tourism activities, the impacts of tourism, and the conditions necessary for sustainable tourism development to occur.

Supply Chain Management Supply chain management is a management approach used in organizations to effectively manage people, activities, information and resources directly or indirectly involved in moving a product or service from suppliers to customers.

Feb 12,  · Founder & CEO of AudienceBloom, a Seattle-based content marketing firm, as well as EmailAnalytics, an email productivity app, and Kwippy, an iOS/Android app in . Retail marketing. This free course is available to start right now. Review the full course description and key learning outcomes and create an account and enrol if you want a free statement of participation.

The four important types of retail marketing mix are discussed below: 1. Product life cycle management. The retail product mix is device so as to develop an appropriate promotion strategy for the store depending on the target market to be reached.

Once the target market is identified and positioning strategy defined, the retailers employ.

Retail Promotion Mix and It’s Components