Retail Management

Retail Management 1 .Discuss the importance of the terminal figure `the sell 7 s . You should include in the discussion the theme that a change in one of thes will defend a knock-on effect to all /some of the others . Use a variety of referenced text in your answerRetail operations are made up of selling goods for consumer consumptions from a fixed side like a store or a usefulness branch . Basically a retailer buys goods in sweeping from manufacturers and sells them in smaller quantities to the end users . IN a regular supply chain the retailer is seen as the last vendor for the customer . With the advancement of technology and application on the internet it is now possible to perform retail activities without a natural outlet . This is online retailingThe retail selling mix is a accrual of components employ by the retailers to market the retail outlet and its yield and service religious offering to the customer . The marketing mix for the retailers makes up of 7 components . These are called the 7s of retailingPrice : This is the price placed on the crossing . For a retailer this means the pricing strategy it uses for the results existence sold through the retail outletsPromotion : This is marketing , advertising and mark by the retailer in to make a champion idea , personified position of the retailer in the mind of the consumerPlacement : This comprises of the strategical locations in which the retailer holds it outlets .

The retailer hatful only waiter its outlets in the high end markets or it could also draw out its distribution strategy by proving products and go to all the segments of the marketProduct : This I essentially the product being offered by the company for retailers the product makes up of the retail outlet , its ambiance the positioning of the shelves and counters , the services provided etc The product for retailers is a combination of all these factorsPlanning : Retail provision is a very essential component of the retail marketing mix . It combines all the strategies on which the retail business is operated on and the specific promotional strategies for the retailerPeople : The people in the retail marketing mix are the staff and employees who work in the retail outlets . The qualification and the skills of the staff hired by the retailers is the main determinant of quality and diversity of service and support offered by them at the retail outletsProcess : This makes up of the operations and the workflow being used by the retailer to perform its operations 2 .How can market segmentation help a retail governance to position itself against its competition within the marketMarket segmentation is basically dividing the substantial market for a certain products or service offering into smaller sets called segments according to the characteristics of the market . The market segmentation is performed ground on the similar characteristic hosted by people in the whole market . Smaller sets of people with similar...If you want to suit a full essay, order it on our website: Ordercustompaper.com

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