INTERNAL MARKETING :RETAIL INDUSTRYSUBMITTED BYASHISH AGGARWALSEAT NO - 64
INTERNAL MARKETING IN RETAIL INDUSTRYInternal marketing (IM) is a process that occurs within a company or organization whe...
LP internal marketing practicesLoss prevention is one of the least understood functional areas in retail, LP has beentrans...
Numbers speak volumes in business and by sharing metrics showcasing what LP hasimplemented and what they can achieve with ...
Internal marketing in retail industry
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Internal marketing in retail industry

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Internal marketing in retail industry

  1. 1. INTERNAL MARKETING :RETAIL INDUSTRYSUBMITTED BYASHISH AGGARWALSEAT NO - 64
  2. 2. INTERNAL MARKETING IN RETAIL INDUSTRYInternal marketing (IM) is a process that occurs within a company or organization where thefunctional process aligns, motivates ,guides and empowers employees at all management levels todeliver a satisfying customer experience. Over past years internal marketing has been interlinkedwith employer brand management, and employer branding which strives to build stronger bondbetween the employee brand experience and customer brand experience.Key concepts IM functioning as a constant internal upskilling process. Reconciliation of the organization’s purpose with employee behavior. Employees adapting to the core values of the organization. Motivation, restructuring and empowerment of employee attitude. Inside-out management approach. To Retain a positive customer experience throughout the business objectives
  3. 3. LP internal marketing practicesLoss prevention is one of the least understood functional areas in retail, LP has beentransforming from a discipline ie focused on chasing shoplifters and investigating incidents, toone that salvages retailers’ bottom lines from losses caused by inefficient operations, organizedretail crime, administrative snafus, compliance failures and legal liabilities. Gaining the attentionof peers is of critical importance for LP in retail. LP managers can better manage their jobs andincrease their effectiveness if they are involved early in the planning of events, new technologyinvestments, and changes to store operations. Successful LP teams also need technology tools tohelp them document and streamline the process of identifying loss-causing events.LP people have expertise in the retail business as a whole, with vast knowledge of supply chain,merchandising, customer service, and operations. Now LP should also learn marketing, which isimportant for showing their value internally. By initiating efforts to market themselves within theorganization, LP professionals can seek funds, improve collaboration with peers, defend requestsfor resources, and take a seat when it comes to designing and planning the retail strategy.By following three fundamental steps in marketing - educate, nurture, and closing the deal - LPcan use marketing to advance their own success.Educating – People don’t just know things of their own; they must be taught. As LPprofessionals have to learn about operations ,merchandising and other aspects of the business,others in retail should learn about loss prevention. LP must be proactive about “advertising” oreducating the organization about the importance of LP. “Brown bag” lunches ie speaking atinternal business meetings and simply demonstrating to more people about LP are all good waysto educate. While others in the organization must not run out and resort to loss preventionimmediately, they will start thinking about LP and what it means to them.Nurturing – In marketing, nurturing is the process of constantly building relationships withprospects so that they will return for seeking more information in response when they are readyto buy a product. LP can do the same by nurturing relationships with peers across the retailorganization when they plan an event or invest in a technology, they will seek consultationwith LP.Regularly LP update meetings, short videos, newsletters and social media are good ways forsharing projects that are being initiated by LP and their significance to the bottom line of thecompany.Closing the deal – Clarity and brevity in communication is never more important than seekingfor money or resources. Investments in the right physical security and information managementtechnologies are critical for controlling and monitoring shrink and LP professionals should askfor the technology and human resources frankly required to ensure their success. If prospectsknow LP through education and nurturing, it becomes easy to “sell” them when it’s time to closethe deal. At this point in the process, executives and other departments should understand thevalue of LP. Then LP can go ahead for “the close.”
  4. 4. Numbers speak volumes in business and by sharing metrics showcasing what LP hasimplemented and what they can achieve with the proposed investment , executives will be muchmore inclined to the purchase of resources as an investment in support of the bottom line ratherthan an expense associated with a cost center. Effective numbers may be the frequency of casesinvestigated and resolved by the LP department, the number of loss-causing activities identifiedand corrected, gradual reduction in accidents, employee theft or administrative shrink and overallannual reduction in shrink. The numbers demonstrate the unquestionable value of LP toexecutives and the organization as a whole.BenefitsBenefits of Internal Marketing: encourages the internal market to perform efficiently; empowers employees and provides them accountability and responsibility; gives common understanding of the business organisation; encourages employees to offer superior service to clients by applauding their valuable contribution in the business; helps non-marketing staff to learn and perform their tasks in a planned way; improves and enhances customer retention and individual employee development; integrates business culture, human resources management, structure, vision and strategy with the employees professional and social needs; creates coordination and cooperation among departments of the business. proper information flow within the organisation. proper guidance to employee evaluation of employee performance regularly.Problems to the successful implementation of InternalMarketingThe following are the problems to the effective implementation of internal marketing. 1. Managerial incompetence in technical, interpersonal and conceptual skills are some of the blocks to the successful internal marketing. 2. Poor understanding of internal marketing concept. 3. Individual and departmental conflicts makes the implementation of internal marketing difficult. 4. Rigid organizational structure in combination with bureaucratic leadership hinders success of internal Marketing. 5. Ignoring and neglecting subordinate staff. 6. The tendency of ignoring employees importance and treating them as any other tools of the organization. 7. Resistance to change. 8. Futile guarding of information against employees.

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