Retailing Mix

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

1. Retailer making a large, semipermanent commitment of resources that can reduce its future flexibility.

2. Location will affect the stores future growth & profitability.

* Site location begins by choosing a community consider the area's economic growth potential, the amount of competition & geography.

* Choose a site Freestanding store

Shopping centres

* Freestanding stores :

o An isolated, freestanding location can be used by large retailers like Wal-mart.

o Seller of shopping goods like furniture & cars because they are 'destination' stores (are store consumer seek out purposely plan to visit).

o Isolated store location - advantages :

 Low site cost or rent.

 No nearby competitor.

o Disadvantages :

 Hard to attract customer to freestanding location.

 No other retailers are around to share costs.

* Shopping centres :

o 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.

o Most are landscaped with trees.

o Fountains.