Retail Marketing


By

Nidhi Katare
Faculty (Marketing)
Bansal MBA College
Bhopal (M.P)
 


The retail landscape is in a constant state of change. As retail marketing is one of the most dynamic and exciting areas of growth in the global economy so, to beat the competition, stand out in a saturated marketplace and succeed despite tightening margins, savvy retailers are focusing on customer-centric service, personalization and loyalty programs to attract and retain customers.

A successful retail organization understands their market, their customers, and the importance of strategic location. Because competition in the retail industry can be fierce, such organizations need the best micro marketing tools available to analyze where to place new stores, establish customer profiles, and determine best marketing practices in order to find new customers.

The trick in retailing, therefore, is to find things that you can do for customers that will modify their behavior in profitable ways.

As retailers strive to touch consumers at every step of the purchase cycle, retail marketing has evolved to become a mosaic of mass media branding, tactics for driving store traffic, in-store experience, and loyalty programs.

5 Steps to a Winning Marketing Campaign


Message to Retailers:

* Evolve your all strategies around customers.

* Focus on building brands to reap the fruits in future.

* Keep growing.
 


Nidhi Katare
Faculty (Marketing)
Bansal MBA College
Bhopal (M.P)
 

Source: E-mail March 8, 2007

       

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