CHALLENGES TO RETAILING•RETAIL POSITIONING•RETAIL PRICING•RETAIL COMPETITION•RETAIL PROMOTION•CUSTOMER ORIENTATION•MARKET ORIENTATIONFACTORS TO FOCUS ON
FACTORS AFFECTING RETAIL LOCATION• Intended target market trading area• Types of products being sold• Suitability of site for customer access• Customer characteristics• Location of competitive retail operationsTypes of Locations•Free-standing structures•Traditional business districts
RETAIL PRICING• Cost Plus Pricing Mechanism• Every organization runs to earn profits and so is the retail industry.• Cost plus pricing works on the following principle:• Cost Price of the product + Profit (Decided by the retailer) = Finalprice of the merchandise.• According to cost plus pricing strategy the retailer adds some extraamount to the actual cost price of the product to earn his share ofprofits. The final price of the merchandise includes the profit asdecided by the retailer.
RETAIL PRICING• Competitive Pricing (Below --> Same --> Above)• The cut throat competition in the current retail scenario hasprompted the retailers to guarantee excellent customer service tothe buyers for them to prefer them over their competitors.• The price of the merchandise is more or less similar to thecompetitor’s but the retailers add on certain attractive benefits forthe customers. (Longer payment term, gifts etc.)
RETAIL PRICINGMANUFACTURER SUGGESTED RETAIL PRICE• The retailer sells his merchandise at a price suggested by themanufacturer.Condition 1• The retailer sells the product at the same price as suggested by themanufacturer. FIXEDCondition 2• The retailer sells the merchandise at a price less than what wassuggested by the manufacturer. SALECondition 3• Retailers initially quote an unreasonably high price and then reducethe price on the customer’s request. BARGAIN
Psychological Pricing• Certain price of a product at which the consumerwillingly purchases it is called psychological price.• The consumer perceives such prices to be correct.• A retailer sets a psychological price which he feelswould meet the expectations of the buyers and theywould easily buy the merchandise.RETAIL PRICING
How does Magic mirror works? Usually magic mirror works as a Advertisingboard in which you may display any creative, and that glows all the times. Butas soon as someone stands in front of this Display..it turns into a mirror.. andthat’s MAGIC.. This has a excellent use in malls, showrooms and airports.MAGIC MIRRORS
What is a Video Jacket (VJ) ? VJ is a unique Blend of Video + Audio Advertising.VJ is the first and only product that combines ATL & BTL together. Televisioncommercial is considered to be the most effective form of advertisementcarrying human emotions and adequate message. With VJ, TVC’s can be used inmalls, markets & Airports, Brands can reach their customers outside their homeand offices. It gives a combined effect of Audio + Video Advertising on themove.Video Jacket.. Walk with TVC :