Marketing considerations to suit the Retail Customer
- Needs beats Wants, do you stock what the customer needs, customers with shopping lists are focused and make less impulsive purchases
- Value beats Difference, I know what I want so please give it to me at your best price.
- Destination beats Impulse, I’m going to my regular isle in my usual store and I’m not trying to be distracted.
- Convenience, where I am beats where I’m going. If i see an item in your store that is usually purchased elsewhere I’ll but it now to save time.
- Financial Conservatism beats financial Adventure. Retails and manufactures are focusing on the goods they know drive sales rather than risky sales forecasting or worse keeping excessive inventory. Store refurbishment is less risky than new store openings.
Marketing is about planning the various components and the steps that bring customers together with your business.
Marketing is the whole pie. The various slices or components of that pie are advertising, market research, product, pricing ,public relations, distribution, promotions, customer support, community involvement.
Marketing is everything business undertakes to facilitate an exchange between the business and the consumer as a potential and genuine customer
Advertising is a component of Marketing. It is the story and announcement, the message from and identified business promoting its products and services to potential and existing customers.
Posted by Rod Richards on 05 Jul 2010