As put rightly by Philip Kotler “.. in India you sell one cigarette at a time, not a package. So there is a lot of localisation. The biggest mistake companies make often, is to assume that the way they sell a product in their own country is the way to put it into another country.”
Retailers have many advantages, not least of which is hey can be less costly overall for suppliers and customers.
• They are better informed by buyers and or sellers.
• They are skilled socially to bargain and forge links between buyers and sellers.
• They bring the “personal touch” to parties who may not communicate with each other.
• They bring economies of scale y accumulating small suppliers and selling to many other parties.
• They stabilise market conditions
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Retailing was reactive to customers’ needs, product lines were expanded, cash handling was simple. There was little in-store information and there was little in the say of entertainment. It was product driven.
The second stage- “A NICETY” from 1960’s to 80’s, was retailer driven. Retailer became proactive to customer needs, national chains developed, sales became permanent mass advertising took over from local, marketing became multi channel, and retailers talked about “fulfilment of desire”. It was driven my market and finance.
The third stage- “AN EVENT”, from 90’s until now was consumer driven. Retailers began to anticipate consumers’ needs, multi-channel marketing made its debut, relationship promotions were the vogue with an emphasis on CRM, edutainment and “infotainment” were introduced to tickle the consumer’s jaded palate, and above all brands are selling lifestyle.
The fourth stage- “CONSUMER CREATED”. Brands and products will be created by consumers. The ultimate attempt to get colder to consumer will result in brands being made by consumers. Consumers are now creatomers-to create content, designs and even
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Non-store based retailers enjoy many benefits. First there is freedom from a physical retail presence. Second, the high fixed cost of running a retail outlet is eliminated. Third, the width of customer coverage is wider in comparison of a fixed location store. Fourth, the warehousing cost is eliminated. Non-store based retailing provides a cheap and centralised location. On the other hand, the disadvantages include fear of credit card abuse and luxury items’ sale is a problem.
Examples of non-store retailing include:
• E-tailors: these retailer provide online buying facility via internet. These provide a picture and description of the product. Due to the convenience and wide variety these stores are becoming very popular. Foreign direct investment in multibrand retail may have relegated to the cold storage, but competition is still burgeoning for the neighbourhood store- from a plethora of e-retail websites ranging from eBay to those run by popular brands. E-tail or is clearly coming of age in India. In India aviation tickets is the biggest e-trailing market.
Mouse-click Mania
What’s the
The article “The Science of Shopping” written by New Yorker staff writer Malcom Gladwell, is based on retail anthropologist and urban geographer Paco Underhill. Underhill studies the shopping characteristics through frequently watched surveillance tapes to help store managers improve the setup of their goods and services. Through those footages he evaluated his observations and the statistics to help define his theories with the purpose to make sellers conform to the desires of the shoppers. Underhill, an insightful and revolutionary man, provides a view of science to displaying merchandise and creates a positive experience for both the buyer and seller. I agree that Underhill’s scientific theories; the Invariant Right, Decompression
Introduction As the world we live in today continues to flatten, new channels begin to emerge across the globe. The technological age that we live in today has forever changed they way retailing functions, creating new opportunities for international success. However, the thought of internationalization can be daunting for many retailers, especially due the large history of retailers who have expanded internationally and then failed. Although this type of expansion can be overwhelming, if done properly, the new retail format can generate a great deal of success for the retailer.
Their prices on petroleum allow them to be a substantial substitute in the industry because of the low switching costs. Consumers are also able to go to other quick service restaurants that either stand alone or operate in another convenient store. Bargaining Power of Suppliers The bargaining power of suppliers is high because the industry is heavily controlled and the products that are needed are imperative to the company’s operations.
Marketing strategy Customers Youth, families, tourists, older customers and the middle working class Product life cycle. According to Kotler, P. & Gary, A. (2011), the product life cycle has five stages namely product development, introduction, growth, maturity and decline stage. The stages are determined by the market share of the product.
In the startup phase of Lululemon Athletica they had a high bargaining power. This was due to a desire to work with leading fabric suppliers and increased investments. A majority of their apparel production was in Asia however they are willing to use Canada as well as the United States for production facilities as they are required. There are many suppliers competing for retailer’s business. Common materials used in apparel making such as rubber and cotton are readily available.
Background As the retailing business profit growth continue to be at the rise in food supply chain, many wholesale companies in the United States are undergoing vertical integration, by expanding from wholesale into retail business. While the typical consumer to these whole sale companies are restaurants, schools, and hospitals, businesses are increasing variety of products in small quantities in their stores targeting families and everyday individuals, with hopes of their products being found in households all over America for personal use. In addition to expanding their business and attracting more customers, these companies in turn, increases sales. Food retailing, a process of providing products and services adding value to products sold for personal use, was overlooked during a mystery shopping experience at Gordon Food Service store (GFS) located at 1851 Newman Rd, Okemos MI 48864 on Sunday, January 21, 2018 at 1:00pm.