RTMNU 4th sem MBA
Subject - Retail Sales Management & Services Marketing [ Marketing ]
Module 3
RETAIL MERCHANDISING AND CRM
BY Jayanti R Pande
MBA free notes pdf download
JRP MBA notes
Free RTMNU Marketing notes by Jayanti Pande
The document discusses retailing and the retail environment in India. It provides definitions of retailing and outlines the economic significance of retailing. It then differentiates between product and service retailing. Some key structural changes in the Indian retail environment discussed include increasing urbanization, rising incomes, and growing technology adoption. The retail marketing environment comprises factors like economic conditions, technology, social trends and competition. Environmental issues in retailing relate to natural resource use, product impacts, and energy/emissions.
RTMNU 4th sem MBA
Subject - Retail Sales Management & Services Marketing [ Marketing ]
Module 4
INTRODUCTION TO SERVICES MARKETING
BY Jayanti R Pande
MBA free notes pdf download
JRP MBA notes
Free RTMNU Marketing notes by Jayanti Pande
Sales control and cost analysis involves coordinating and controlling various sales operations to ensure sales and profit objectives are achieved. It utilizes tools like sales audits, sales analysis, and cost analysis. A sales audit examines a sales organization's objectives, policies, structure, methods, procedures, and personnel to identify strengths, weaknesses, and opportunities for improvement. Sales analysis studies sales volume trends to understand territories, products, and customer types performing well or poorly. Cost analysis breaks down sales volumes and expenses to determine the profitability of different sales activities and categories in order to improve profitability.
This document discusses various methods for measuring brand equity, including qualitative, quantitative, and comparative methods. Qualitative methods involve unstructured techniques like free association and projective techniques to understand consumer perceptions. Quantitative methods use scales to measure brand awareness, image, and beliefs through tools like aided recall, multidimensional scaling, and analyzing purchase intentions. Comparative methods examine consumer response to brands and marketing programs through approaches like conjoint analysis and holistic methods that value brands.
The document discusses managing sales territories and quotas. It covers designing sales territories using build-up and breakdown methods, assigning salespeople to territories, and managing territorial coverage through routing, scheduling, and time management tools. It also discusses objectives and types of sales quotas, including volume, financial, activity, and combination quotas. Finally, it outlines several methods for setting sales quotas such as using total market estimates, territory potential, past sales experience, executive judgement, salespeople's estimates, and compensation plans.
The document defines a retail market strategy as identifying a retailer's target market, the format used to satisfy that market, and how to build a sustainable competitive advantage. It identifies key elements as targeting specific market segments, choosing a retail format like a store or e-commerce, and building strong customer and supplier relationships through loyalty, branding and efficient operations. Finally, it outlines a 7-stage strategic planning process for retailers to define their mission, analyze opportunities, evaluate alternatives, set objectives, develop a mix, and evaluate performance.
The document discusses retailing and the retail environment in India. It provides definitions of retailing and outlines the economic significance of retailing. It then differentiates between product and service retailing. Some key structural changes in the Indian retail environment discussed include increasing urbanization, rising incomes, and growing technology adoption. The retail marketing environment comprises factors like economic conditions, technology, social trends and competition. Environmental issues in retailing relate to natural resource use, product impacts, and energy/emissions.
RTMNU 4th sem MBA
Subject - Retail Sales Management & Services Marketing [ Marketing ]
Module 4
INTRODUCTION TO SERVICES MARKETING
BY Jayanti R Pande
MBA free notes pdf download
JRP MBA notes
Free RTMNU Marketing notes by Jayanti Pande
Sales control and cost analysis involves coordinating and controlling various sales operations to ensure sales and profit objectives are achieved. It utilizes tools like sales audits, sales analysis, and cost analysis. A sales audit examines a sales organization's objectives, policies, structure, methods, procedures, and personnel to identify strengths, weaknesses, and opportunities for improvement. Sales analysis studies sales volume trends to understand territories, products, and customer types performing well or poorly. Cost analysis breaks down sales volumes and expenses to determine the profitability of different sales activities and categories in order to improve profitability.
This document discusses various methods for measuring brand equity, including qualitative, quantitative, and comparative methods. Qualitative methods involve unstructured techniques like free association and projective techniques to understand consumer perceptions. Quantitative methods use scales to measure brand awareness, image, and beliefs through tools like aided recall, multidimensional scaling, and analyzing purchase intentions. Comparative methods examine consumer response to brands and marketing programs through approaches like conjoint analysis and holistic methods that value brands.
The document discusses managing sales territories and quotas. It covers designing sales territories using build-up and breakdown methods, assigning salespeople to territories, and managing territorial coverage through routing, scheduling, and time management tools. It also discusses objectives and types of sales quotas, including volume, financial, activity, and combination quotas. Finally, it outlines several methods for setting sales quotas such as using total market estimates, territory potential, past sales experience, executive judgement, salespeople's estimates, and compensation plans.
The document defines a retail market strategy as identifying a retailer's target market, the format used to satisfy that market, and how to build a sustainable competitive advantage. It identifies key elements as targeting specific market segments, choosing a retail format like a store or e-commerce, and building strong customer and supplier relationships through loyalty, branding and efficient operations. Finally, it outlines a 7-stage strategic planning process for retailers to define their mission, analyze opportunities, evaluate alternatives, set objectives, develop a mix, and evaluate performance.
This document discusses market segmentation, which is the process of dividing a market into distinct groups of consumers based on characteristics like needs, preferences, location, demographics, etc. It defines market segmentation and explains the key criteria for effective segmentation. It also outlines the different levels of segmentation from mass marketing to niche/micro marketing. Finally, it describes three patterns of segmentation - homogeneous preferences where all consumers have similar tastes, diffused preferences where tastes vary widely, and clustered preferences where natural segments emerge. The goal of segmentation is to better target specific groups and develop tailored marketing strategies.
Marketing research is used to understand consumers and identify marketing opportunities and problems. It involves gathering information to develop, test, and evaluate marketing strategies. Some common applications of marketing research include product research to develop and test new products, concept testing to evaluate new advertising or branding concepts, and pricing research to determine the optimal price points. Other areas that marketing research addresses include positioning, customer satisfaction, market segmentation, advertising, branding, and sales analysis.
The document discusses different types of sales organizations including line, line and staff, functional, and horizontal organizations. It provides the characteristics, advantages, and disadvantages of each type. Additionally, it covers specialization within sales organizations which can be done based on geography, product type, market, or a combination. Different examples of geographic, product, market, and combination specialized sales organizations are described.
This document provides information on supervising, managing, and leading salespeople. It discusses the differences between supervision, management, and leadership. Supervision involves observing employees, providing feedback, and ensuring they understand their responsibilities. Management requires setting objectives, organizing tasks, motivating employees, and measuring performance. Leadership competencies for sales managers include coaching, mentoring, organizing teams, and driving growth. Effective sales managers derive power from expertise and relationships, not just their formal position. They communicate frequently with virtual teams and develop employees into leaders.
The document discusses emerging trends in sales management that are important for sales managers to understand in a changing market environment. These trends include: going global to sell products and services internationally; adopting new technologies like digital marketing and customer relationship management tools; managing a more diverse salesforce with varied demographics; using a team selling approach to build long-term customer relationships; managing multiple marketing channels effectively; and addressing ethical and social responsibilities of sales managers and salespeople.
The document discusses the retail industry and trends in India. It notes that retail is expected to reach Rs. 25,000 billion by 2008 in India. Organized retailing is growing in both food and non-food segments. By 2015, India will have over 700 shopping malls, up from 400 operational malls in 2010. The document also examines relationships between retailers and suppliers, different retail formats, and drivers of success in the retail sector such as customers, education, and planning.
This document provides an overview of market research, including definitions, features, objectives, functions, scope, and process. Some key points:
1. Market research is defined as the systematic gathering, recording and analysis of data about problems relating to marketing goods and services. It helps solve marketing problems and aid decision-making.
2. It is a systematic process that collects, records, analyzes data to solve marketing problems. It provides information to marketing managers to make decisions.
3. The scope of market research includes researching products, consumers, packaging, pricing, advertising, sales, distribution, policies, international markets, and motivation.
4. The market research process involves defining objectives, designing the research,
This document discusses key concepts related to branding and brand equity. It begins by defining what a brand is - a name, symbol or design that identifies a seller's products/services and differentiates them from competitors. Branding is endowing products with the power of the brand. Brand equity refers to the added value provided to products/services based on consumer perceptions of the brand. The document then discusses how brand equity is built through branding strategies and activities and can be measured through various models. It also outlines important decisions in developing a branding strategy, such as choosing brand elements, devising marketing activities, and managing the brand over time.
This document discusses the concept of retailing. It defines retailers as middlemen who deal directly with customers and link producers and customers through small transactions where they take title of goods. Retailers buy goods from wholesalers to resell through various in-store and non-store methods. The document also discusses different types of retailers, characteristics of retailing, factors influencing retail change, and the relationship between retailing and marketing.
This document discusses the key functions of marketing. It identifies the main functions as the exchange of goods from seller to buyer, the physical supply which includes assembling, transportation, storage and warehousing, and facilitating functions such as financing, risk taking, standardization, and providing market information. It provides examples and details for each of the main marketing functions.
This document discusses concepts in marketing management. It outlines different concepts companies use to orient themselves toward the marketplace, including production, product, selling, marketing, customer, societal, and holistic concepts. It also discusses the marketing concept versus the selling concept, building customer loyalty, relationship marketing, definitions of marketing management, and the process of marketing management from a strategic perspective.
This document discusses pricing strategies in retailing. It outlines several factors that affect retail pricing, including consumers, competitors, manufacturers/suppliers, and government regulations. It also describes basic pricing options like discount orientation, market orientation, and upscale orientation. The document then examines specific pricing strategies retailers can use, such as cost-plus pricing, competition-based pricing, and demand-based pricing. It provides examples of how to calculate markups and make price adjustments over time through markdowns. The overall aim of the pricing strategies discussed is for retailers to set prices that achieve profits while satisfying customers.
The document discusses various types of retail store locations including freestanding/isolated stores, business districts, and shopping centers. It describes factors to consider when selecting a retail location such as market size and demographics, competition, transportation access, and property costs. The document also outlines different types of shopping centers like neighborhood centers that serve local areas and regional centers that attract customers from a wider region. Key decisions for retailers include assessing the trade area, traffic patterns, and estimating whether a location can generate sufficient sales.
The document discusses retail brand management and private label branding strategies. It begins with definitions of branding and retail branding. It then covers the growth of own/private labels and various typologies of retail brands including generics, counterbrands, copycat brands, and house brands. The document also discusses brand development strategies, the retail value chain, managing brand equity, developing brand loyalty, and key issues regarding lookalike brands.
The document outlines the hierarchy of strategies used in strategic management. It discusses corporate level strategies that affect the whole organization, business level strategies that gain competitive advantage in specific markets, and functional level strategies for different departments. Functional strategies include operational strategies for quality and production, financing strategies for funds management, marketing strategies for segmentation and promotion, and human resources strategies for recruitment and compensation.
The document discusses different approaches to implementing marketing strategies, including the command approach where strategies are decided at the top and forced down, the change approach which focuses on modifying the organization, the consensus approach where managers collaborate to develop strategy, and the cultural approach which aims to shape the culture so all employees work towards shared goals. It also covers organizing marketing activities and alternatives like centralizing authority at a certain level or decentralizing, as well as organizing by functions, products, regions, or customer types. The marketing concept and customer needs are discussed as pivotal to organizational goals.
Perceptual mapping is a graphic display that shows customers' perceptions of product characteristics and brands. It helps understand how customers view a company's brand compared to competitors. There are two main methods for perceptual mapping - attribute-based which uses factor analysis of product attributes, and similarity-based which uses multi-dimensional scaling of perceived brand similarities. Both have advantages and disadvantages for understanding brand perceptions.
This document provides an overview of marketing channel structure and functions. It discusses how channel members add value through specialization and the division of labor principle. The document also examines different types of marketing channels for consumers and businesses. It explores considerations for selecting and managing multi-channel distribution systems, as well as carefully selecting and developing international channel members. Finally, it summarizes that future distribution channels will be more interactive and challenged by the internet, while international channels will remain important with an adaptive focus on customer preferences.
Introduction to Relationship Marketing, Benefits of Relationship Marketing, Evolution of Relationship Marketing, Levels of Relationship Marketing, Success in Relationship Marketing
RTMNU 4th sem MBA
Subject - Retail Sales Management & Services Marketing [ Marketing ]
Module 3 SUMMARY
RETAIL MERCHANDISING AND CRM
BY Jayanti R Pande
MBA free notes pdf download
JRP MBA notes
Free RTMNU Marketing notes by Jayanti Pande
This document provides an overview of merchandising management. It defines merchandising as planning the marketing, promotion, and sale of retail products. The key components of merchandising management are determining the appropriate product assortment, price, range of products, and store layout. Merchandisers must consider customer demands and trends to effectively buy and display merchandise. The roles of merchandisers and buyers include planning purchases, selecting vendors, pricing products, and ensuring adequate inventory levels.
This document discusses market segmentation, which is the process of dividing a market into distinct groups of consumers based on characteristics like needs, preferences, location, demographics, etc. It defines market segmentation and explains the key criteria for effective segmentation. It also outlines the different levels of segmentation from mass marketing to niche/micro marketing. Finally, it describes three patterns of segmentation - homogeneous preferences where all consumers have similar tastes, diffused preferences where tastes vary widely, and clustered preferences where natural segments emerge. The goal of segmentation is to better target specific groups and develop tailored marketing strategies.
Marketing research is used to understand consumers and identify marketing opportunities and problems. It involves gathering information to develop, test, and evaluate marketing strategies. Some common applications of marketing research include product research to develop and test new products, concept testing to evaluate new advertising or branding concepts, and pricing research to determine the optimal price points. Other areas that marketing research addresses include positioning, customer satisfaction, market segmentation, advertising, branding, and sales analysis.
The document discusses different types of sales organizations including line, line and staff, functional, and horizontal organizations. It provides the characteristics, advantages, and disadvantages of each type. Additionally, it covers specialization within sales organizations which can be done based on geography, product type, market, or a combination. Different examples of geographic, product, market, and combination specialized sales organizations are described.
This document provides information on supervising, managing, and leading salespeople. It discusses the differences between supervision, management, and leadership. Supervision involves observing employees, providing feedback, and ensuring they understand their responsibilities. Management requires setting objectives, organizing tasks, motivating employees, and measuring performance. Leadership competencies for sales managers include coaching, mentoring, organizing teams, and driving growth. Effective sales managers derive power from expertise and relationships, not just their formal position. They communicate frequently with virtual teams and develop employees into leaders.
The document discusses emerging trends in sales management that are important for sales managers to understand in a changing market environment. These trends include: going global to sell products and services internationally; adopting new technologies like digital marketing and customer relationship management tools; managing a more diverse salesforce with varied demographics; using a team selling approach to build long-term customer relationships; managing multiple marketing channels effectively; and addressing ethical and social responsibilities of sales managers and salespeople.
The document discusses the retail industry and trends in India. It notes that retail is expected to reach Rs. 25,000 billion by 2008 in India. Organized retailing is growing in both food and non-food segments. By 2015, India will have over 700 shopping malls, up from 400 operational malls in 2010. The document also examines relationships between retailers and suppliers, different retail formats, and drivers of success in the retail sector such as customers, education, and planning.
This document provides an overview of market research, including definitions, features, objectives, functions, scope, and process. Some key points:
1. Market research is defined as the systematic gathering, recording and analysis of data about problems relating to marketing goods and services. It helps solve marketing problems and aid decision-making.
2. It is a systematic process that collects, records, analyzes data to solve marketing problems. It provides information to marketing managers to make decisions.
3. The scope of market research includes researching products, consumers, packaging, pricing, advertising, sales, distribution, policies, international markets, and motivation.
4. The market research process involves defining objectives, designing the research,
This document discusses key concepts related to branding and brand equity. It begins by defining what a brand is - a name, symbol or design that identifies a seller's products/services and differentiates them from competitors. Branding is endowing products with the power of the brand. Brand equity refers to the added value provided to products/services based on consumer perceptions of the brand. The document then discusses how brand equity is built through branding strategies and activities and can be measured through various models. It also outlines important decisions in developing a branding strategy, such as choosing brand elements, devising marketing activities, and managing the brand over time.
This document discusses the concept of retailing. It defines retailers as middlemen who deal directly with customers and link producers and customers through small transactions where they take title of goods. Retailers buy goods from wholesalers to resell through various in-store and non-store methods. The document also discusses different types of retailers, characteristics of retailing, factors influencing retail change, and the relationship between retailing and marketing.
This document discusses the key functions of marketing. It identifies the main functions as the exchange of goods from seller to buyer, the physical supply which includes assembling, transportation, storage and warehousing, and facilitating functions such as financing, risk taking, standardization, and providing market information. It provides examples and details for each of the main marketing functions.
This document discusses concepts in marketing management. It outlines different concepts companies use to orient themselves toward the marketplace, including production, product, selling, marketing, customer, societal, and holistic concepts. It also discusses the marketing concept versus the selling concept, building customer loyalty, relationship marketing, definitions of marketing management, and the process of marketing management from a strategic perspective.
This document discusses pricing strategies in retailing. It outlines several factors that affect retail pricing, including consumers, competitors, manufacturers/suppliers, and government regulations. It also describes basic pricing options like discount orientation, market orientation, and upscale orientation. The document then examines specific pricing strategies retailers can use, such as cost-plus pricing, competition-based pricing, and demand-based pricing. It provides examples of how to calculate markups and make price adjustments over time through markdowns. The overall aim of the pricing strategies discussed is for retailers to set prices that achieve profits while satisfying customers.
The document discusses various types of retail store locations including freestanding/isolated stores, business districts, and shopping centers. It describes factors to consider when selecting a retail location such as market size and demographics, competition, transportation access, and property costs. The document also outlines different types of shopping centers like neighborhood centers that serve local areas and regional centers that attract customers from a wider region. Key decisions for retailers include assessing the trade area, traffic patterns, and estimating whether a location can generate sufficient sales.
The document discusses retail brand management and private label branding strategies. It begins with definitions of branding and retail branding. It then covers the growth of own/private labels and various typologies of retail brands including generics, counterbrands, copycat brands, and house brands. The document also discusses brand development strategies, the retail value chain, managing brand equity, developing brand loyalty, and key issues regarding lookalike brands.
The document outlines the hierarchy of strategies used in strategic management. It discusses corporate level strategies that affect the whole organization, business level strategies that gain competitive advantage in specific markets, and functional level strategies for different departments. Functional strategies include operational strategies for quality and production, financing strategies for funds management, marketing strategies for segmentation and promotion, and human resources strategies for recruitment and compensation.
The document discusses different approaches to implementing marketing strategies, including the command approach where strategies are decided at the top and forced down, the change approach which focuses on modifying the organization, the consensus approach where managers collaborate to develop strategy, and the cultural approach which aims to shape the culture so all employees work towards shared goals. It also covers organizing marketing activities and alternatives like centralizing authority at a certain level or decentralizing, as well as organizing by functions, products, regions, or customer types. The marketing concept and customer needs are discussed as pivotal to organizational goals.
Perceptual mapping is a graphic display that shows customers' perceptions of product characteristics and brands. It helps understand how customers view a company's brand compared to competitors. There are two main methods for perceptual mapping - attribute-based which uses factor analysis of product attributes, and similarity-based which uses multi-dimensional scaling of perceived brand similarities. Both have advantages and disadvantages for understanding brand perceptions.
This document provides an overview of marketing channel structure and functions. It discusses how channel members add value through specialization and the division of labor principle. The document also examines different types of marketing channels for consumers and businesses. It explores considerations for selecting and managing multi-channel distribution systems, as well as carefully selecting and developing international channel members. Finally, it summarizes that future distribution channels will be more interactive and challenged by the internet, while international channels will remain important with an adaptive focus on customer preferences.
Introduction to Relationship Marketing, Benefits of Relationship Marketing, Evolution of Relationship Marketing, Levels of Relationship Marketing, Success in Relationship Marketing
RTMNU 4th sem MBA
Subject - Retail Sales Management & Services Marketing [ Marketing ]
Module 3 SUMMARY
RETAIL MERCHANDISING AND CRM
BY Jayanti R Pande
MBA free notes pdf download
JRP MBA notes
Free RTMNU Marketing notes by Jayanti Pande
This document provides an overview of merchandising management. It defines merchandising as planning the marketing, promotion, and sale of retail products. The key components of merchandising management are determining the appropriate product assortment, price, range of products, and store layout. Merchandisers must consider customer demands and trends to effectively buy and display merchandise. The roles of merchandisers and buyers include planning purchases, selecting vendors, pricing products, and ensuring adequate inventory levels.
Retailers must make competent decisions about what merchandise to buy, how much to buy, and when to buy it. The merchandise selection communicates the type of company to consumers and allows stores to differentiate themselves. Merchandise management focuses on planning and controlling retailer inventories by balancing financial requirements with a merchandise purchasing strategy. It involves acquiring, handling, and monitoring merchandise categories for a retail organization. Retailers use various methods to plan and calculate inventory levels like basic stock, percentage variation, weeks' supply, and stock-to-sales methods. Visual merchandising is the art of product presentation that puts merchandise in focus to educate and create desire in customers.
Visual Merchandising and window display in fashionPrincySharma42
Merchandising involves planning product lines, pricing, and promotions. Key responsibilities of merchandisers include selecting products, sourcing suppliers, managing inventory, setting prices, visual merchandising, sales analysis, and market research. Merchandisers work in both retail and wholesale operations, coordinating the production, quality control, and shipping of goods from manufacturers to buyers. Their goal is to present products in a way that will attract customers and maximize sales.
This document provides an overview of key fashion marketing concepts. It discusses the concept of marketing, identifying customer needs and wants. It also covers market segmentation, the marketing mix of the 4 P's (product, price, place, promotion), distribution channels, and merchandising. The objectives are to understand how fashion businesses develop, promote, and distribute products to satisfy customer demand through various marketing strategies and activities.
The document discusses various aspects of design management and retail merchandising. It defines key terms like window display and visual merchandising and explains their importance in retail. It discusses techniques used for window displays, in-store design, and effective advertising campaigns. It also covers topics like store planograms, merchandising philosophy, analysis for developing sales forecasts, and determining merchandise requirements. The overall document provides an overview of best practices and strategies for retail design, merchandising, and inventory planning.
The document summarizes key aspects of retail strategy and strategic planning. It discusses McDonald's target market as families and individuals seeking inexpensive, convenient food. McDonald's format is franchising fast food restaurants with standardized operations. McDonald's competitive advantages include speed, consistency, and brand recognition from locations worldwide. The summary then outlines the strategic planning process, including defining the business mission, conducting a situation audit of the market and competitors, identifying strategic opportunities like market penetration, and establishing specific objectives.
Merchandise management involves organizing a retailer's buying process, assortment planning, branding strategies, vendor relationships, store layout, and presentation techniques. Effective merchandise management is important for deciding what items to carry, maintaining appropriate inventory levels, tracking inventory, ensuring merchandise is properly handled and stored, and determining when to reorder. Key aspects of merchandise management include merchandising planning, assortment strategies, branding strategies, and vendor management. Space planning is also important for optimizing product placement and maximizing sales.
The document provides an overview of marketing, marketing management, and the marketing environment. It defines marketing as understanding customer needs and delivering value and satisfaction. Marketing management involves planning, organizing, and controlling marketing activities to create demand and generate profit. The marketing environment comprises internal factors within a company's control and external factors outside of its control that influence marketing operations. The external environment includes political, economic, social, technological, legal, and environmental factors. Understanding the marketing environment is important for identifying opportunities and adapting to changes.
Delivering and Promoting Product: Supply Chain Decisions Nature, Types, Channel Design and Channel Management Decisions, Retailing, Wholesaling, Personal Selling: Personal Selling Process, Managing the Sales Force. Promotion Mix: Advertising, Sales Promotion, Public Relations. Emerging Trends in Marketing: Green Marketing, Event Marketing, Network Marketing, Social Marketing, Buzz Marketing/ Viral Marketing, Customer Relationship Management (CRM), Global Marketing, Rural Marketing, E-Commerce: Marketing In The Digital Age.
The document outlines key concepts in customer-driven marketing including:
1) Marketing creates utility for customers by making goods available when and where they are wanted through time, place, and ownership utility.
2) The marketing concept focuses on understanding customer needs and satisfying them through products and services. Customer satisfaction and loyalty contribute added value for organizations.
3) Marketing strategies involve selecting target markets and developing marketing mixes to satisfy their needs through the four Ps - product, price, place, promotion.
The document summarizes key concepts in customer-driven marketing. It discusses how marketing creates utility for customers and the evolution of the marketing concept to a customer orientation. It also outlines the basic steps in developing a marketing strategy, including analyzing target markets and creating a marketing mix. Relationship marketing and tools for nurturing customer relationships are also summarized.
Merchandising involves planning, buying, pricing, and selling products for retailers. As retailers grew from operating one or two stores to larger chains, merchandising became more complex involving analyzing customer needs, acquiring the right products, properly handling and displaying inventory, and controlling stock levels. Key aspects of merchandising include sales forecasting, managing national brands versus private labels, and understanding factors that influence customer purchasing decisions when browsing stores.
Unleashing-the-Power-of-Demand-Generation.pdfDemanday group
DEMANDAY (formerly The Marketing Code) is a global Digital Transformation sales engagement and enablement company focused on executing Sales & Marketing programs by leveraging Technology to drive potential revenue growth for our customers across the globe.
The document discusses the key aspects of retail marketing including satisfying customer needs, developing merchandise and services to meet those needs, and coordinating the elements of the retail marketing mix. It also covers the importance of retail marketing planning, which involves setting objectives, identifying options, and coordinating activities in a logical sequence to maximize profits in a complex retail environment. Finally, the document outlines different types of retail marketing plans from annual tactical plans to long-term strategic plans focused on adapting to market opportunities.
The document outlines the modules covered in a marketing course over 45 lectures. It includes 4 main modules that cover topics such as introduction to marketing, marketing decisions, key marketing dimensions, and marketing strategies. Some of the specific topics discussed are marketing mix, product life cycle, branding, pricing, promotion, sales management, rural marketing, and digital marketing.
This document discusses qualitative methods for forecasting demand for fast-moving consumer goods (FMCG). It describes qualitative forecasting methods like the Delphi method, market surveys, and executive opinions that do not use math. These methods gather opinions from experts, customers, salespeople, and executives. The document provides examples of FMCG companies that use qualitative methods and presents a case study of a fashion retailer that improved demand forecasting, inventory management, and customer satisfaction by combining qualitative and quantitative forecasting.
This document provides an overview of key concepts in marketing management. It discusses the marketing process, scope of marketing, core concepts like segmentation and the marketing mix (4Ps). It also covers new product development stages, classification of new products, product life cycle, and factors influencing distribution decisions. The document is an introductory guide to understanding markets and the marketing function in businesses.
MBA SEM 3 | HR PAPER 3 | COMPENSATION AND BENEFITS MANAGEMENT | MODULE No 2 | COMPENSATION PLANNING | RTMNU MBA | FREE NOTES PDF BY JAYANTI PANDE | ProNotesJRP | MBA Notes | Human Resource Management Specialization
MBA SEM 3 | HR PAPER 3 | COMPENSATION AND BENEFITS MANAGEMENT | MODULE No 1 | JOB EVALUATION | RTMNU MBA | FREE NOTES PDF BY JAYANTI PANDE | ProNotesJRP | MBA Notes | Human Resource Management Specialization
Resume "My Content" Feature| Resume Tips.pdfJayanti Pande
CUSTOMISING RESUME QUICKLY FOR DIFFERENT JOB ROLES WITHOUT RE-TYPING REPEATITIVE INFORMATION | USING NOVA RESUME | Resume Tips By ProNotesJRP | Jayanti Pande
Web & Social Media Analytics Previous Year Question Paper.pdfJayanti Pande
MBA Sem 4 | Business Analytics [BA 4] | Previous Year Question Paper | Summer 2023 | Web and Social Media Analytics | Solved PYQ | By Jayanti Pande | ProNotesJRP
Web & Social Media Analytics Module 5.pdfJayanti Pande
MBA Sem 4 | Business Analytics Paper 4 | Web and Social Media Analytics | Module 5 | Website Outcome | By ProNotesJRP | Jayanti Pande | RTMNU MBA Syllabus
Web & Social Media Analytics Module 4.pdfJayanti Pande
MBA Sem 4 | Business Analytics Paper 4 | Web and Social Media Analytics | Module 4 | Mobile & Social Media Analytics | By ProNotesJRP | Jayanti Pande | RTMNU MBA Syllabus
Web & Social Media Analytics Module 3.pdfJayanti Pande
MBA Sem 4 | Business Analytics Paper 4 | Web and Social Media Analytics | Module 3 | Leveraging Qualitative Data | By ProNotesJRP | Jayanti Pande | RTMNU MBA Syllabus
Web & Social Media Analytics Module 2.pdfJayanti Pande
MBA Sem 4 | Business Analytics Paper 4 | Web and Social Media Analytics | Module 2 | New Web analytics 2.0 Mindset | By ProNotesJRP | Jayanti Pande | RTMNU MBA Syllabus
Web & Social Media Analytics Module 1.pdfJayanti Pande
MBA Sem 4 | Business Analytics Paper 4 | Web and Social Media Analytics | Module 1 | Choosing right tools for website | By ProNotesJRP | Jayanti Pande | RTMNU MBA Syllabus
Basics of Research| Also Valuable for MBA Research Project Viva.pdfJayanti Pande
This document provides an overview of research basics including the research process, types of research, research methodologies, sampling, and data collection. It defines research as systematically investigating a topic to gain deeper understanding. The research process involves identifying a problem, reviewing literature, forming hypotheses, choosing a methodology, collecting and analyzing data, drawing conclusions, and reporting findings. Key points covered include the difference between qualitative and quantitative research, experimental and descriptive methodologies, primary and secondary data collection, probability and non-probability sampling methods, and how to write research questions.
MBA Project Report ppt By Jayanti Pande.pdfJayanti Pande
MBA Project Report presentation | HR - A study on Training and Development process adopted by Parle-G Company Nagpur | By Jayanti Pande | ProNotesJRP | JRPNotes free pdf
HR Paper 2 Module 1 INTRODUCTION TO PERFORMANCE MEASUREMENT .pdfJayanti Pande
MBA SEM 3 |HR PAPER 2| MODULE 1| PERFORMANCE MEASUREMENT SYSTEM|
INTRODUCTION TO PERFORMANCE MEASUREMENT|
Mod 1
RTMNU NAGPUR UNIVERSITY
By Jayanti R Pande
Data Mining Module 5 Business Analytics.pdfJayanti Pande
Business Analytics Paper 2
| Data Mining | RTMNU Nagpur University MBA | Module 5
| Web Mining and Text Mining | By Jayanti Pande | ProNotesJRP | JRP Notes
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
The chapter Lifelines of National Economy in Class 10 Geography focuses on the various modes of transportation and communication that play a vital role in the economic development of a country. These lifelines are crucial for the movement of goods, services, and people, thereby connecting different regions and promoting economic activities.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
This presentation was provided by Rebecca Benner, Ph.D., of the American Society of Anesthesiologists, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
1. RASHTRASANT TUKDOJI MAHARAJ NAGPUR UNIVERSITY
MBA
SEMESTER: 4
SPECIALIZATION – MARKETING
RETAIL SALES MANAGEMENT & SERVICES MARKETING
MODULE NO 3
RETAIL MERCHANDISING & CRM
- Jayanti R Pande
DGICM college, Nagpur
2. Q1. What is retail merchandising? Describe the process of retail merchandising.
RETAIL MERCHANDISING
• Retail merchandising focuses on presenting products in a way that attracts customers and encourages them to make
purchases. It involves analysing market trends, customer preferences, and competitor strategies to curate the right product
assortment.
• Pricing decisions are made based on factors like market conditions, competitor prices, and desired profit margins.
• Visual merchandising techniques such as product displays, signage, and lighting are used to create an appealing store
environment.
• Effective inventory management ensures that products are available in the right quantities to meet customer demand
without excess stock or stock outs.
• Promotional strategies, including sales, discounts, and marketing campaigns, are implemented to drive customer
awareness and sales.
• Market research helps to understand customer needs, preferences, and behaviours to tailor merchandising strategies
accordingly.
• Retail merchandising involves analysing sales data and performance metrics to make informed decisions and optimize
strategies.
• Constant monitoring of market trends and customer feedback helps retailers stay agile and adapt their merchandising
approaches.
• The ultimate goal of retail merchandising is to increase sales, profitability, and customer satisfaction by providing a
seamless shopping experience and offering products that resonate with customers.
3. 1 Analysis of Market Opportunity
2 Creation of Merchandise Plan
3 Selecting the Supply Base
4 Product Development & Supplier Performance Management
5 Presentation of Merchandise at Point of Sale
PROCESS OF RETAIL MERCHANDISING
DEFINITION OF MERCHANDISING
American Marketing Association- “Merchandising is the planning involved in marketing the right merchandise at the
right place at the right time in the right quantities at the right price.”
MERCHANDISING PROCESS
4. PROCESS OF RETAIL MERCHANDISING
1 Analysis of Market Opportunity: Merchandising begins with analyzing the market to identify opportunities and trends.
This involves studying customer preferences, market demand, and competitor strategies to understand the potential for
success.
2 Creation of Merchandise Plan: Based on the market analysis, a merchandise plan is developed. This plan includes
decisions on product assortment, pricing, and promotional strategies. It outlines the goals, objectives, and strategies for
achieving sales and profitability targets.
3 Selecting the Supply Base: Merchandisers work on selecting the right suppliers or vendors to source products. They
evaluate potential suppliers based on factors such as quality, pricing, reliability, and their ability to meet demand.
4 Product Development & Supplier Performance Management: Once suppliers are selected, merchandisers collaborate
with them for product development. This involves designing and creating new products or working with existing ones to
meet market needs. Additionally, merchandisers actively manage supplier performance to ensure timely delivery, quality
control, and compliance with agreed-upon standards.
5 Presentation of Merchandise at Point of Sale: Merchandisers focus on presenting the merchandise in an appealing
way at the point of sale. This includes visual merchandising techniques such as product displays, store layout, signage,
and packaging. The goal is to attract customer attention, communicate product benefits, and create an engaging
shopping experience that drives sales.
5. Q2. What do you understand by merchandise management. Explain the activities of merchandiser.
MERCHANDISE MANAGEMENT
Merchandise management refers to the strategic planning and execution of activities related to the
procurement, handling, and control of products within a retail or distribution environment. It involves
overseeing the entire lifecycle of merchandise, from analysis and planning to acquisition, handling, and
control. The primary goal of merchandise management is to ensure the right products are available at the
right time, in the right quantities, and at the right locations to meet customer demand and maximize
profitability.
Analysis: Conducting market research to understand customer preferences, market trends, and competitors.
Planning: Creating merchandise plans for product assortment, pricing, promotions, and inventory
management.
Acquisition: Selecting reliable suppliers and negotiating terms for timely procurement of merchandise.
Handling: Managing logistics, including transportation, warehousing, and maintaining stock levels.
Control: Monitoring merchandise performance, analyzing sales data, and adjusting strategies for optimal
results.
6. THE ACTIVITIES OF MERCHANDISER.
Conducting market research and analysing customer preferences, trends, and competition.
Developing merchandise plans and strategies to align with company objectives and meet customer demands.
Collaborating with suppliers for product sourcing, negotiating pricing, and managing supplier relationships.
Managing inventory levels, tracking product availability, and implementing effective inventory control techniques.
Monitoring sales performance, analysing data, and making data-driven decisions to optimize merchandise
performance.
Collaborating with cross-functional teams such as marketing, operations, and finance to align merchandise strategies
with overall business objectives.
Executing promotional activities, pricing strategies, and product launches to drive sales and enhance customer
engagement.
Evaluating the success of merchandise strategies, identifying areas for improvement, and implementing changes to
enhance performance.
7. Q3. Explain the retail merchandising management process. Mention the elements of merchandise management.
MERCHANDISING MANAGEMENT PROCESS
1 Forecasting Sales: Estimating future sales by looking at past data and market trends.
2 Developing an Assortment Plan: Deciding what products, brands, styles, sizes, and colors to offer customers.
3 Determining Appropriate Inventory Level & Product Availability: Figuring out how much inventory is needed to
meet customer demand and ensure products are available when customers want to buy them.
4 Developing a Plan for Managing Inventory: Creating strategies for managing inventory, such as when to reorder,
how much to order, and how quickly to replenish stock.
5 Allocating Merchandise to Stores: Deciding how much merchandise to send to each store based on factors like store
size, customer demographics, and sales history.
6 Buying Merchandise: Selecting and negotiating with suppliers to purchase the merchandise needed for the stores.
7 Monitoring and Evaluating Performance and Making Adjustments: Keeping track of sales, inventory levels, and
other metrics to see how well the merchandise is performing and making changes if needed.
8. ELEMENTS OF MERCHANDISE MANAGEMENT:
1.Merchandise Analysis: Studying market trends, customer preferences, and competitor strategies to make
informed decisions about product selection, pricing, and promotions.
2.Merchandise Control: Monitoring and managing inventory levels, stockouts, and profitability.
3.Planning Merchandise Assortments: Planning what products to offer and ensuring they match customer
preferences and market demand.
4.Buying Systems: Establishing efficient processes for selecting suppliers and purchasing merchandise.
5.Buying Merchandise: Actively purchasing merchandise from suppliers.
6.Pricing: Determining appropriate pricing strategies based on customer value, market competition, and
profitability goals.
7.Retail Communication Mix: Using various communication channels, such as advertising and in-store
displays, to promote merchandise and engage customers.
9. Q4. Describe private labels with growth drivers of private labels.
Private labels, also known as store brands or retailer brands, are products manufactured and sold by retailers under
their own brand name. They offer an alternative to national or manufacturer brands.
Private labels are products that are exclusively sold by retailers under their own brand name.
These brands are created to provide consumers with more affordable options and offer value for money.
Private labels often have similar quality to national brands and are developed to meet customer needs and
preferences.
Retailers benefit from private labels by creating a positive brand image and establishing customer loyalty.
Private labels help differentiate retailers from their competitors and provide a unique selling proposition.
Characteristics of Private Labels:
Value for Money: Private labels offer affordable pricing and cost savings for consumers.
Similar Quality: Private label products match or closely resemble the quality of national brands.
Customer-Oriented: Private labels are developed to meet the specific needs and preferences of target customers.
Roles of Private Labels:
Benefits to Consumers: Private labels provide more affordable options without compromising quality.
Quality Image for Retailers: Private labels help retailers build a reputation for providing quality products.
Differentiation from Competitors: Private labels set retailers apart by offering exclusive products, attracting customers and
enhancing market position.
10. 1.Right Product: Private labels thrive by offering products that are specifically tailored to meet customer needs and
preferences. By understanding the target market and identifying gaps or opportunities, retailers can develop private
label products that resonate with consumers. This strategic product development ensures a competitive advantage,
attracts customers looking for alternatives to national brands, and drives consumer loyalty.
2.Competitive Price: One of the primary appeals of private labels is their affordability. Private label products are often
priced lower than national brands, providing cost-conscious consumers with budget-friendly options. The ability to offer
competitive pricing is a significant growth driver for private labels, as it helps retailers attract price-sensitive customers
and gain market share. The cost savings associated with private labels can be attributed to factors such as streamlined
supply chains, reduced marketing expenses, and direct sourcing from manufacturers.
3.Strong Marketing Program: Effective marketing plays a crucial role in the growth of private labels. Retailers need to
invest in creating brand awareness and showcasing the value and quality of their private label products. A robust
marketing program includes activities such as advertising, in-store promotions, social media campaigns, and product
demonstrations. By effectively communicating the unique selling points, benefits, and value proposition of private label
products, retailers can generate consumer interest, encourage trial purchases, and foster repeat business.
GROWTH DRIVERS OF PRIVATE LABELS.
Strong
Marketing
Program
Competitive
Price
Right
Product
11. Q5. Differentiate between private brand and national brand. Mention the global scenario of private labels.
Store/Private Brands National Brands
Owned and sold exclusively by a specific retailer
Owned and sold by specific manufacturers or
companies
Available only in the retailer's stores or online
platforms
Widely available across multiple retailers and
distribution channels
More control over pricing, quality, and
marketing
Controlled by the respective manufacturers
Often offered at a more affordable price point Generally have a higher price point
Limited brand recognition beyond the retailer's
customer base
Higher brand recognition due to extensive
marketing efforts
Focused on specific product categories or a wide
range of products
Offer a broad product assortment
Lesser marketing investment compared to
national brands
Heavy investment in marketing, advertising, and
brand building
Cater to the preferences of the retailer's target
customers
Cater to a wide range of customer preferences
Can create exclusivity and differentiation for the
retailer
May face competition from similar national
brands in the market
12. In the global scenario, private labels have experienced significant growth and popularity-
1.Increased Market Share: Private labels have witnessed a substantial increase in market share globally. Retailers have
recognized the potential of private labels as a strategic tool to differentiate themselves, strengthen customer loyalty, and
boost profitability. In several countries, private labels have achieved a considerable market share in sectors such as
groceries, apparel, household products, and cosmetics. Consumers are increasingly embracing private labels due to their
competitive pricing, comparable quality to national brands, and the assurance of value for money.
2.Retailer Expansion: Retailers have expanded their private label portfolios to include a wider range of products and
categories. Initially focused on basic or commodity items, private labels now encompass premium and specialized
offerings, catering to diverse consumer preferences. Retailers have invested in product development, packaging, and
marketing to enhance the image and desirability of their private label brands. This expansion allows retailers to have a
greater presence in the market, improve customer loyalty, and increase their overall market share.
3.Consumer Perception and Acceptance: Consumer perception of private labels has evolved positively. Previously
associated with lower quality or generic products, private labels are now perceived as reliable alternatives to national
brands. Consumers appreciate the value proposition offered by private labels, especially in challenging economic times. As
retailers invest in product quality, innovation, and marketing, consumers have become more accepting and trusting of
private label offerings. This shift in consumer perception has contributed to the growth of private labels globally.
4.International Expansion: Private labels have not only grown within domestic markets but have also expanded
internationally. Retailers with strong private label programs have capitalized on global sourcing and manufacturing
capabilities to offer their brands in multiple countries. This expansion allows retailers to leverage economies of scale,
negotiate favorable supplier contracts, and penetrate new markets. Private labels have found success in both developed
and emerging economies, with retailers adapting their strategies to suit local consumer preferences and market dynamics.
GLOBAL SCENARIO OF PRIVATE LABELS.
13. Q6. Illustrate Indian market scenario of private labels. Also give the advantages & disadvantages of private labels.
INDIAN MARKET SCENARIO OF PRIVATE LABELS
1. The share of modern trade (MT) in the Indian market has doubled from 4.9% to 10.8% in the last 10 years.
2. MT contributes 55% of FMCG sales in the top eight metros, while it is 43% in the overall urban market.
3. Private labels have gained traction in e-commerce, with their share increasing from 10.7% to 12.1% between January and
March 2020.
4. The Indian private label market is still at a nascent stage compared to the global scenario but is growing fast.
5. Growth is driven by the increasing strength of modern trade and relatively lower brand loyalty among Indian consumers.
6. Private labels are expanding into new categories, particularly those that are becoming commoditized and emerging
categories with weaker brand presence.
7. India's largest retail company, Future Group, has multiple private labels across apparel, FMCG, and household products.
8. Aditya Birla offers private labels in categories such as cereals, processed foods, detergents, and plans to launch in milk and
dairy products.
9. Tata Croma has plans for over 100 private labels in categories like personal care equipment, laptops, and small appliances.
10. Reliance Fresh sells private-label staples, food items, and recently launched Dairy Pure in the liquid milk segment.
11. Shoppers Stop also has several private labels across different categories.
12. Private labels in India are gaining popularity due to their competitive pricing compared to established brands, attracting
cost-conscious consumers. Retailers are actively expanding their private label portfolios to cater to a wide range of
product categories, including apparel, processed foods, personal care, and electronics.
13. Private labels offer retailers higher profit margins compared to branded products, incentivizing them to invest more in
developing and promoting their own brands.
14. Private labels are often positioned as value-for-money alternatives, appealing to price-sensitive consumers and capturing
market share from both national and international brands.
14. ADVANTAGES OF PRIVATE LABELS:
1.Control over pricing: Retailers can set their own prices for private label products, offering competitive pricing
compared to national brands.
2.Marketing freedom: Retailers can implement their own marketing strategies for private label products, showcasing
their unique selling points.
3.Personalized brand image: Private labels allow retailers to create their own brand identity, catering to specific target
markets and building customer loyalty.
4.In-store prominence: Retailers can prominently place private label products in their stores, increasing visibility and
driving sales.
5.Resilience during downturns: Private labels provide a convenient choice for consumers during economic downturns
when affordability becomes crucial.
DISADVANTAGES OF PRIVATE LABELS:
1.Lack of standardization: Private label products may vary in quality and consistency, raising concerns about product
standardization.
2.Lesser brand power: Private label brands often have lower brand recognition compared to well-established national
brands.
3.Perception of lower quality: The lower prices of private label products may lead to a perception of inferior quality
among consumers.
4.Similar brand image: If retailers have multiple private label products across different categories, it can be challenging
to differentiate their brand image and positioning.
5.Production challenges: Retailers may face difficulties in sourcing reliable suppliers, maintaining consistent quality, and
managing supply chain logistics for private label products.
15. Q7. What is IMC? Explain IMC tools used in retailing.
IMC
• Integrated Marketing Communications is a strategic approach that combines various marketing communication tools and
channels to deliver a consistent and unified message to target customers. IMC aims to ensure that all aspects of
marketing communications, including advertising, promotions, public relations, direct marketing, and digital marketing,
work together harmoniously to create a cohesive brand image and effectively reach the target audience.
• IMC is crucial for retailers to communicate their brand value, promote their products or services, and engage with
customers across different touch points. It involves creating a seamless customer experience by aligning messaging,
visuals, and promotional activities across various marketing channels, both online and offline. By integrating their
marketing efforts, retailers can enhance brand awareness, generate customer loyalty, and drive sales by delivering a
consistent and compelling message to their target audience.
• It is a strategy that helps retailers create a strong and unified brand presence. It means making sure that all the different
ways retailers communicate with customers, like ads, social media, and in-store experiences, work together and send a
consistent message.
• It helps retailers communicate their brand message, engage customers, and create a consistent brand identity. By
bringing their marketing efforts together, retailers can stand out in a competitive market and build strong relationships
with their customers.
DEFINITION OF IMC
IMC is the strategic coordination of various marketing tools and channels to deliver a consistent brand message and
engage customers effectively.
American Marketing Association- “IMC is planning process designed to assure that all brand contacts received by a
customer or prospect for a product, service, or organisation are relevnt to that person and consistent over time”.
16. 1.Retail Advertising: This IMC tool involves creating and placing paid advertisements in various media channels, such
as print, television, radio, or online platforms, to promote retail products, services, or brands and reach a wide
audience.
2.Retail Sales Promotion: This IMC tool includes short-term incentives and promotional activities aimed at boosting
sales, such as discounts, coupons, special offers, contests, or loyalty programs, to attract customers and encourage
immediate purchases.
3.Retail Personal Selling: This IMC tool involves direct interaction between sales representatives and customers, where
the salesperson provides personalized product information, addresses customer needs, and guides them through the
buying process, aiming to build relationships and make sales.
4.Retail Public Relations: This IMC tool focuses on managing and enhancing the public image and reputation of a retail
brand through activities like media relations, event sponsorships, community engagement, and corporate social
responsibility initiatives to create a positive perception and build trust among stakeholders.
5.Retail Publicity: This IMC tool involves generating non-paid media coverage through newsworthy stories, press
releases, or media events, aiming to create awareness, attract attention, and shape public perception about a retail
brand or its offerings.
6.Retail Word of Mouth: This IMC tool relies on satisfied customers sharing positive experiences and recommendations
about a retail brand or product with others, either through informal conversations or digital platforms, to generate buzz,
credibility, and organic brand advocacy.
Retail
Advertising
Retail
Word
Of
Mouth
Retail sales
promotion
Retail
Personal
Selling
Retail
Public
Relations
Retail
Publicity
IMC TOOLS
17. Q8. Explain CRM with its goals & principles.
CRM
• CRM (Customer Relationship Management) in retailing refers to the practices and technologies used by retailers to
manage and nurture customer relationships. It involves collecting and analyzing customer data to understand their
preferences and needs, enabling retailers to provide personalized experiences and targeted marketing campaigns.
• By implementing CRM strategies, retailers can effectively segment their customer base, tailor their communication
and offers, and build stronger relationships with customers. CRM helps retailers track customer interactions, resolve
issues promptly, and offer personalized recommendations, leading to increased customer satisfaction and loyalty.
• Moreover, CRM enables retailers to measure customer metrics, such as customer lifetime value and purchase
patterns, to make data-driven business decisions and optimize their marketing efforts. By focusing on building and
maintaining strong customer relationships, retailers can drive growth and achieve long-term success in the
competitive retail industry.
DEFINITION OF CRM
Gartner – “ CRM is a business strategy designed to optimise profitability, revenue & customer satisfaction”.
18. GOALS OF CRM
1.To acquire customers: CRM aims to attract new customers through targeted marketing campaigns, personalized offers,
and effective lead generation strategies.
2.To satisfy customers: CRM focuses on understanding customer preferences and needs to provide personalized
experiences, quality products, and excellent customer service that meet or exceed customer expectations.
3.To retain customers: CRM aims to build long-term relationships with customers by creating loyalty programs, offering
incentives for repeat purchases, and maintaining regular communication to ensure customer satisfaction and loyalty.
4.To enhance customers: CRM seeks to maximize the value of each customer by identifying opportunities for upselling,
cross-selling, and providing additional value-added services or products based on customer preferences and behaviour.
PRINCIPLES OF CRM
1.Understanding what motivates customers: By gaining insights into customer motivations, preferences, and buying
behaviours, retailers can tailor their marketing strategies and offerings to meet customer needs effectively.
2.Managing customers as an asset: Recognizing the value of customers as long-term assets, retailers invest in building
strong customer relationships, providing personalized experiences, and nurturing loyalty to maximize customer lifetime
value.
3.Increasing loyalty: CRM emphasizes the importance of fostering customer loyalty through personalized communication,
rewards programs, exceptional service, and addressing customer concerns promptly and effectively.
4.Providing efficient and consistent service: Consistency and efficiency in delivering products, services, and support across
all customer touchpoints are essential for building trust and maintaining positive customer experiences.
5.Treating customers individually: CRM recognizes that each customer is unique and requires individual attention. Retailers
strive to provide personalized recommendations, tailored offers, and a customized experience to create a sense of
personalization and strengthen customer relationships.
19. Q9. Describe CRM & loyalty programs. Mention the components of CRM.
CRM (Customer Relationship Management)
is a business strategy that focuses on managing and nurturing customer relationships to drive customer satisfaction,
loyalty, and business growth. It involves gathering and analyzing customer data, implementing targeted marketing
initiatives, and providing personalized experiences. CRM aims to understand customer preferences and needs, deliver
exceptional customer service, and foster long-term relationships.
Loyalty programs
are tactical initiatives within the CRM strategy designed to incentivize and reward customer loyalty. These programs
offer benefits such as discounts, exclusive offers, points, or rewards that customers can earn and redeem based on
their continued engagement with the retailer. Loyalty programs aim to encourage repeat purchases, increase
customer retention, and enhance the overall customer experience.
Strategic Differences:
• CRM is a broader business strategy that focuses on managing customer relationships across various touchpoints,
while loyalty programs are specific tactics within the CRM strategy.
• CRM aims to build long-term customer relationships, acquire new customers, satisfy their needs, and retain them,
while loyalty programs specifically target fostering customer loyalty and encouraging repeat purchases.
20. Tactical Differences:
• CRM tactics include customer segmentation, targeted marketing campaigns, personalized communication, and
customer service initiatives, while loyalty programs are designed to incentivize and reward customers for their repeat
business and loyalty.
• CRM focuses on understanding individual customer preferences, needs, and behaviors to deliver personalized
experiences, while loyalty programs provide specific benefits and rewards to incentivize continued engagement and
repeat purchases.
Technical Differences:
• CRM systems are foundational tools used to collect, store, and manage customer data, enabling a holistic view of the
customer and supporting various CRM activities. Loyalty programs may require specific technical infrastructure for
program enrollment, member profiles, points tracking, and redemption mechanisms.
• CRM systems often integrate with other business systems, such as sales, marketing, and customer service, to ensure
seamless data flow and enable a comprehensive customer-centric approach. Loyalty programs may utilize dedicated
loyalty management software or integrate with existing CRM systems for program management.
COMPONENTS OF CRM
Communication
Customer Management
Marketing
Relationship Strategy Customer Satisfaction
Customer Service
21. 1.Marketing: This component focuses on understanding customer preferences and behaviors to develop targeted marketing
campaigns. It involves segmentation of the customer base, analyzing customer data, and implementing strategies to attract
and retain customers through personalized offers, promotions, and advertisements.
2.Customer Management: Customer management involves the organization and management of customer data. It includes
capturing and storing customer information, such as contact details, purchase history, preferences, and interactions. This
component enables retailers to have a comprehensive view of their customers and effectively track their engagement and
satisfaction levels.
3.Customer Service: The customer service component of CRM aims to provide exceptional support and assistance to
customers. It involves addressing customer inquiries, resolving issues or complaints promptly, and ensuring a positive
customer experience. Effective customer service builds trust and loyalty, leading to long-term customer relationships.
4.Relationship Strategy: This component focuses on developing a relationship strategy to build and nurture customer
relationships. It involves defining the retailer's approach to customer engagement, loyalty programs, and customer retention.
This strategy guides the overall direction and actions taken to enhance customer satisfaction and loyalty.
5.Communication: Communication plays a vital role in CRM by facilitating effective interactions with customers. It includes
both outbound communication (such as marketing messages, promotions, and personalized offers) and inbound
communication (customer inquiries, feedback, and complaints). Consistent and personalized communication helps
strengthen customer relationships and ensures a positive customer experience.
6.Customer Satisfaction: The goal of CRM is to achieve high levels of customer satisfaction. This component involves
monitoring and measuring customer satisfaction levels through feedback mechanisms, surveys, and customer satisfaction
metrics. By consistently evaluating and improving customer satisfaction, retailers can enhance customer loyalty and drive
business growth.
22. Q10. Depict technology in retail marketing decision. Give the applications of IT in retail
TECHNOLOGY IN RETAIL MARKETING DECISION
Technology plays a crucial role in shaping retail marketing decisions, revolutionizing how retailers engage
with customers and drive business growth. With advancements in data analytics, customer relationship
management systems, marketing automation, and digital advertising, technology empowers retailers to
make informed choices and execute effective marketing strategies.
ROLE OF IT IN RETAILING
Streamlining Operations: IT systems automate transactions, manage inventory, and optimize supply
chains, improving efficiency.
Enhancing Customer Experience: IT enables personalized marketing, mobile apps, self-checkout, and
digital signage, providing convenience and interactive experiences.
Enabling Data-Driven Decision Making: IT gathers and analyzes data to provide insights for informed
decision making on pricing, assortment, and marketing strategies.
23. IT APPLICATIONS IN RETAIL INCLUDE:
1.Electronic Data Interchange (EDI): EDI allows for the electronic exchange of business documents between retailers
and suppliers, streamlining communication and transactions.
2.Barcoding Technology: Barcoding technology enables efficient product identification, inventory management, and
checkout processes. It improves accuracy, speed, and reduces manual errors.
3.Electronic Point of Sale (EPOS) System: EPOS systems automate sales transactions, inventory tracking, and customer
data collection. They provide real-time sales data, streamline operations, and enhance customer service.
4.Electronic Funds Transfer (EFT): EFT systems facilitate electronic payment processing, enabling customers to make
secure and convenient payments using credit or debit cards, mobile wallets, or online payment gateways.
5.Radio Frequency Identification (RFID): RFID technology uses radio waves to track and identify products, enabling
retailers to improve inventory management, reduce theft, and enhance supply chain visibility.