What is a retail image?
Retail image refers to the way in which the retailer is perceived by the public. As the store environment is the interface between the customer and the retailer, customers’ perceptions (see Consumer Perceptions) are, by and large, based on what transpires in the store.
How important is retail image in business?
Building a positive image is undeniably the basic step for any business venture. A sound and coherent corporate identity, consistent with the values the company wishes to transmit, means better recognition within a large and complex market.
What are the elements of retail image?
The components of a firm’s image are its target market characteristics, retail positioning and reputation, store location, merchandise assortment, price levels, physical facilities, shopping experiences, community service, advertising and public relations, personal selling, and sales promotion.
What is retail image mix?
A retail mix, defined, is the marketing plan put in place to address key factors such as location, price, personnel, services, and goods. The retail mix is also referred to as the “6 Ps.” Click for a larger image. The retail mix will differ based on the store and the type of product offered to the customer.
What are the 5 P’s in retail?
The 5 Ps of product, price, promotion, place, and people are the holy grail of business for retailers and consumer packaged goods (CPG) enterprises.
What are the two types of retailer?
Types of Retail Stores
- Department Stores. This type of retail outlet is one of the most complex types of establishments that offer a wide range of products.
- Specialty Stores.
- Supermarkets.
- Convenience Stores.
- Discount Stores.
- Hypermarkets or Super Stores.
What is retailing in simple words?
Retailing, the selling of merchandise and certain services to consumers. It ordinarily involves the selling of individual units or small lots to large numbers of customers by a business set up for that specific purpose.
Why is retail so important?
Consumers benefit from retailing as retailers perform marketing functions that make it possible for customers to have access to a broad variety of products and services. Retailing also helps to create a place, time, and possession utilities.
Who is called retailer?
A retailer is a person or business that you purchase goods from. Retailers typically don’t manufacture their own items. They purchase goods from a manufacturer or a wholesaler and sell these goods to consumers in small quantities.
What are the functions of retailers?
Functions performed by retailers:
- (1) Buying and Assembling:
- (2) Warehousing or Storing:
- (3) Selling:
- (4) Credit Facilities:
- (5) Risk Bearing:
- (6) Grading and Packing:
- (7) Collection and Supply of Market Information:
- (8) Helps In Introducing New Products:
What is the role of retailer?
A retailer performs the dual functions of buying and assembling of goods. They store the goods in bulk and make them available as per the requirement of the consumer. Warehousing and store keeping helps in ensuring uninterrupted availability of the goods to the consumers.
What is the concept of retail?
The term ‘retail’ is derived from the French word retailer which means ‘to cut a piece off or to break bulk’. Retailing can be defined as the buying and selling of goods and services. It can also be defined as the timely delivery of goods and services demanded by consumers at prices that are competitive and affordable.
What is retailer and its types?
Store retailing: This includes different types of retail stores like department stores, speciality stores, supermarkets, convenience stores, catalogue showrooms, drug stores, superstores, discount stores, extreme value stores etc. Corporate retailing focuses on retailing goods of only the parent or partner brand.
What are the advantages and disadvantages of retailer?
Advantages and Disadvantages of Retailers
- Cash Business.
- No Liability.
- Less Initial Capital and Space.
- Fixed Margins and Low Scale of Operations.
- Requires Good Location.
- Constant Supervision and Control.
What are the advantages of retail market?
Serious Customers Retail marketing is often more effective than other forms of marketing, because it brings the customer to you. Consumers who shop in a particular store are demonstrating their interest in the products and services that business sells just by their willingness to take the trouble to visit.
What are the limitations of stores?
The limitations are as follows:
- High cost: One of the major disadvantages of such stores is that the cost of doing business is very high.
- Local inconvenience:
- Higher rent for premises:
- Lack of personal touch in selling:
- Lack of proper supervision:
- Large capital:
- Higher risk of loss:
- Limited scope in India: