COMMERCE 2MA3 Lecture Notes - Lecture 13: Direct Marketing, Retail Park, Institute For Operations Research And The Management Sciences
9 Jun 2016
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Document Summary
Retailing: activities involved in selling merchandise to ultimate consumers, both large and small retailers create time, place, and ownership utility, retailers act as both customers and marketers in their channels. Retailing strategy: retailers base key decisions on two fundamental steps in the marketing strategy process, selecting a target market, developing a retailing mix to satisfy the chosen market. Selecting a target market: consider, size, profit potential of the market, level of competition. Merchandising strategy: guides retailer"s decisions on the items it will offer, while developing the marketing mix, retailers should consider, needs and preferences of its target market, competitive environment influencing choices, overall profitability of each product line and category. Category management: seeks to improve retailer"s product performance through coordinated buying, merchandising, and pricing, category management evaluates performance according to each product category, categories that underperform may be dropped even if they are strong brands.
