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A Few Significant Tips for the Contemporary Marketing Practice - Essay Example

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The essay "A Few Significant Tips for the Contemporary Marketing Practice" discusses the nuances of service, merchandising, design of retail premises, which marketers should take into account, knowing the features of female and male consumer behavior in the supermarkets…
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A Few Significant Tips for the Contemporary Marketing Practice
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Download file to see previous pages In today’s business world, smartness is all about coping with change, understanding the changing trends, being responsive and sensitive to the customer’s needs and having a constant and careful eye on the market. These retailers have done the same to show high incomes on their balance sheets. The rest of this article takes a closer and deep look at the possible approaches, strategies, plans, and moves of these profitable retailers. Marketers define “retailing as all the activities involved in selling goods or services directly to the final consumers for personal and non-business use”. Similarly, by a retailer or retail store marketers mean “any business enterprise whose sales volume comes primarily from retailing”. The first difference between the recent profitable and non-profitable retailers lies in their levels of service. Experts divide it into four categories of self-service, Self-selection, limited service and full service. Self-service refers to the approach where customers are allowed to carry out their own “locate-compare-select” process. It is a common sight at most of the discount stores. The second type is self-selection where customers have to find the goods that they desire but there are people to assist them to quite some extent. Limited-service retailers are those which carry more goods that generate a complex and dissonance filled buying behavior therefore customers require information and assistance. These retailers not only offer the required information and assistance but also offer services like credit and merchandise return services. Lastly, there are retailers, which hire full-time salespeople who have the job to assist, inform, update, and notify the customers at every stage of their buying process. Despite the fact that full-service retailers are the most sensitive to the customer needs and the ones who seem to be making more effort for attracting and retaining customers but these businesses are at a higher risk during recession periods.   ...Download file to see next pages Read More
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