Concept of service marketing triangle services marketing mix. The nature of retail marketing the key aspects of retail marketing is an attitude of mind. Mba retail management notes pdf rm notes smartzworld. Understand the important role of international marketing and. Download book pdf retail marketing management pp 177196 cite as. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix.
The marketing professionals who shape and implement marketing strategy contribute directly to the economic wealth of a nation. Useful notes on retail marketing retail marketing segmentation. The 4 decisions of retail marketing are as follows. A vertical audit analyses firms performance in one specific area e. Here you can download the free lecture notes of advanced financial management notes pdf afm notes pdf materials with multiple file links to download. Retail involves the sale of goods from a single point malls, markets, department stores etc directly to the consumer in small quantities for his end use. Finding the right marketing mix is integral to the success of any small business because customers enjoy shopping in stores that successfully meet their needs. The retail marketing mix is a marketing term that refers to the variables that a retailer can combine in alternative ways to arrive at a marketing strategy. Evidently, retail trade is one that cuts off smaller portions from large lumps of goods. Marketing mix a mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix.
It is about putting the right product or a combination thereof in the place, at the right time, and at the right price. Write brief notes of country and regional analysis. The marketing mix is a marketing tool used by marketing professionals. Pdf businesses may not be in a position to satisfy all of their customers, every time. Retail management i about the tutorial retail management is an activity of selling products or services to their endusers. There are some other people who confuse marketing with selling and feel that marketing activity starts. 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. Download retail management tutorial pdf version tutorialspoint. Merchandise management is the process through which each retailer decides what items to carry, how much to have on hand to meet the needs of customers, where they should be. Consumers are exposed to thousands of marketing communication messages every day. In this lesson we will look into the function of strategy, elements of retail strategy, and. The customer is king thus it is mandatory to employ excellent marketing mix by marketing. Sep 09, 20 retail marketing is the process by which retailers promote awareness and interest of their goods and services in an effort to generate sales from their consumers.
It also introduces you to visual merchandising, retail marketing mix, and etailing. Retail marketing firms are susceptible to economic conditions, both directly and through the medium of market place. A retail marketing mix addresses product, price, place and promotion, in order to keep your small business growing and thriving. Nov 21, 2011 the nature of retail marketing the key aspects of retail marketing is an attitude of mind. The best app for cbse students now provides marketing management class 12 notes business studies latest chapter wise notes. He has held senior positions in retail, wholesale, and distribution operations. As one of the four ps of the marketing mix, pricing. Marketing management notes pdf download dailybased. A marketing plan deals primarily with implementing the market strategy as it relates to target markets and the marketing mix. International marketing exam notes marketing and marketing. Feb 03, 2011 what do you mean by retail environment. Pdf testing retail marketingmix effects on patronage.
Retail marketing introduction and overview todays shoppers want the total customer experience. Discuss retail marketingnotes within the marketing research forums, part of the resolve your query get help and discuss projects category. Retail marketing mix while many elements may make up a firms retail marketing mix, the essential elements. There are two specific dimensions to retail marketing, first how to attract customers into the retail environs shop, restaurant, pub, or the virtual internet store for instance and second how to persuade those customers to make a purchase from that outlet. Ict in market research and ict in market researchand ict in market research marketing notesmarketing notes marketing management process. The sales and marketing manager must possess a complex mix. However, in case of services of different nature the 4 ps have been expanded to 7ps or 8ps. Miller center for retailing education and research page 11. It is a process through which goods are transported to final consumers. The difficult part is doing this well, as you need to. Return to contents list strategic market planning a strategic marketing plan is an outline of the methods and resources required to achieve organizational goals within a specific target markets. Whenever they go out for shopping of certain products or services, they describe it as marketing. Every organization has a product mix that is made up of product lines.
Miller center for retailing education and research page 7. Notes 35 marketing strategy many authors have attempted to explain the concept of strategy. The leading approach to the study of this issue is the marketing model 7p, allowing structuring the changes in a complex of marketing. These notes are highly recommended for mba or pgdm management students. Reliances entry into retail marketing growth of highway retailing profiles of a few leading retailers in india retail robots merchandising. The four important types of retail marketing mix are discussed below. It is important that the facilitator is able to revise the. Marketing communication attempts to provide information to the consumer. Finding the right marketing mix is integral to the success of. Develop strong positions in spealized market segment. Jan 26, 2019 a retail marketing mix addresses product, price, place and promotion, in order to keep your small business growing and thriving. Mba notes nature and scope of marketing management. Record on the studentteacher resource, retail sectors.
Apr 12, 2020 chapter 11 marketing management class notes, bst, class 12, cbse edurev notes is made by best teachers of commerce. Principles of retailing suzanne fernie bsc, tqfe, dms marketing, mba suzanne is a further and highereducation lecturer in retailing and marketing, specialising in retail environment, retail theories and retail. Geoinformationgeoinformationand ict in market research and ict in market researchand ict in market research marketing notesmarketing notes. Hi guys, i am sharing this excellent summary ebook on retail marketing in pdf format as per the mba syllabus.
As one of the four ps of the marketing mix, pricing is one of the most. The right mix or assortment the right quality the right quantity the right price the right time the right place. In a laymans language, retailing is nothing but transaction of goods between the seller and the end user as a single unit piece or in small quantities to satisfy the. Organized retail is not just selling of goods, it embraces activities of marketing like grading packing.
The retailing product and the product in retailing. At the retail level, a marketing strategy can be thought of three major components. Elements of the retail marketing mix centre for business. The process of managing a retail business with the objective of maximizing the sales and profits of a category.
Studying the status of marketing mix 7ps in consumer cooperatives at ilam province from members perspectives 196 it in members contribution which in present study, the author also looks for it. A successful implementation of the components of the traditional marketing mix product, place, price and promotion are essential for the success in retail marketing. Record notes from brainstorming session on retail sectors. In this lesson we will look into the function of strategy, elements of retail strategy. Retail marketing is application of marketing functions in distribution of goods to the customers. Chapter 17 retailing, class notes university of delaware. Pdf retailers have always worked to establish close relationships with customers. Studying the status of marketing mix 7ps in consumer.
The area of retailing is growing, more jobs are being created and shopping has become a major leisure activity. List of topics covered in retail marketing lecture notes ebook for mba pdf. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas. Lesson 1 an overview of retailing introduction the word retail is derived from a french word with the prefix re and the verb tailer meaning to cut again. During distribute student resource, retail spending habits. Work backward from the final retail price to find the price for the wholesalers by subtracting the. Definition of management according to harold koontz, management is the art of getting things done through and with people in formally organised groups. And this is one of the reasons the nine ps of marketing were created. Now sears provides customer databases from 24 million cc users and partners hanover direct market specifically targeted catalogs. Their skills attract and retain customers, build sales and generate profits which can then be reinvested as part of a cycle of prosperity. No marketing programme will commence if product does not exist because planning for all marketing activities distribution, price, sales promotion, advertising, etc. A communication program that is designed to achieve a variety of objectives for the retailer, such as building a brand image of the retailer in the customers mind, increasing sales and store traffic, providing information about the retailers location and offering, and announcing special activities. The retail mix will differ based on the store and the type of product offered to the customer.
Marketing mix is the combination to various elements which are available at the disposal of a marketer, it consist of essential variable factors which influence success of marketing. Therefore, various retail promotion methods can be compared on the basis of degree of control, flexibility, credibility and cost associated with them. In making retail marketing decisions, retailers must consider the ne. International marketing exam notes marketing and marketing management marketing is an organizational function and a set of processes for creating, communicating, and delivering value to. Retail marketing mix, retail formats, hypermarkets, specialty stores, department stores. Retail marketing is the range of activities the retailer does to create awareness about the products or services among customers for selling. Marketing mix is a greatest strategy for attaining competitive advantage for any firm. Then make some notes on what each element of the mix means to the retailer. In other words, retailing consists of the activities involved in selling directly to the ultimate consumer for personal, nonbusiness.
It also introduces you to visual merchandising, retail marketing mix. Marketing mix is probably the most famous term in marketing. Strategies for marketing mix of 4ps for competitive advantage the marketing mix by 4ps is a conjuration and it can only be implemented by marketing managers. However, nowadays, the marketing mix increasingly includes several other ps like packaging, positioning, people and even politics as vital mix. Related to the above, marketing is also a strategy and entails an understanding of the environment. People or targeting was slightly forgotten in the marketing mix, and is a major, significant part of the nine ps of marketing. Use a chart to take notes about the pricing policies. Once the target market is identified and positioning strategy defined, the retailers employ various tools of product mix. International marketing exam notes marketing and marketing management marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Mba marketing management full notes pdf introduction to marketing management pdf. At the end of each session there is the facilitators notes to be used for reference. There are many different approaches and strategies retailers can use to market their goods and services see below. It is most effective when it is an integral component of overall firm strategy. Marketing and the 7ps the national social marketing centre.
The 4ps make up a typical marketing mix price, product, promotion and place. For example, the costs of all inputs positively respond to. Retail marketing consists of visual merchandising, sales promotion, advertising, and marketing mix. Mba retail marketing lecture notes, summary ebook free. Retail marketing notesretail marketing notesretail marketing notesretail marketing notesretail marketing notesretail marketing notesretail marketing notesretail marketing notesretail marketing notesretail marketing notes.
Previous article barron gre word list download pdf. Mmm national council of educational research and training. Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. Aug 30, 2019 the marketing mix is a marketing tool used by marketing professionals. What is marketing marketing is the management marketing is the management. Cbse class 12 business studies marketing management class 12 notes business studies in pdf are available for free download in mycbseguide mobile app. Think about the significance of the features of graphical text before scrutinizing the content of the reading. Some people believe that marketing is same as shopping.
It is often crucial when determining product or brands offering, and it is also called as 4ps product, price, promotion, and place of marketing. The right mix or assortment the right quality the right quantity the right price the right time the right place c image100punchstock. Tags retail management lecture notes retail management notes retail management pdf retail management pdf free download retail management pdf notes previous jntuh 22 r syllabus book all branches next high voltage engineering pdf notes hve notes pdf. A retail mix, defined, is the marketing plan put in place to address key factors such as location, price, personnel, services, and goods. The marketer must have a thorough understanding of their customers to answer the. The results of this research could show the necessity of more attention to the components of marketing mix 21. This tutorial introduces you to various concerns of retail business such as retail marketing, space management, and retail operations. Retail communication program ppt 1611 retail and vendor communication programs vendor longterm objectives product focused national specific product retailer shortterm objectives category focused local assortment of merchandise ppt 1612 methods for setting communication budget marginal analysis. Mba marketing management full notes pdf download mba 2nd. Retail marketing is the process by which retailers promote awareness and interest of their goods and services in an effort to generate sales from their consumers. The term marketing has been described by different people in different ways. In addition, the retail mix should always have the target market in mind.
Discuss retail marketing notes within the marketing research forums, part of the resolve your query get help and discuss projects category. The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The management can respond to meet changing market demand. Marketing management class 12 notes business studies. List of topics covered in retail marketing lecture notes ebook for mba pdf file. Marketing mix decisions must be made to influence the trade channels as well as the. The difficult part is doing this well, as you need to know every aspect of your business plan.