Retail Marketing management.
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1. INTRODUCTION Before to continue the assessment is necessary know the mains concepts about the wide world of Retail Marketing management. There are many approaches to understanding and defining Marketing words, but I have chosen most relevant words to understand about what is in really terms Retail Marketing Management. * Retail: "Any business that directs its marketing efforts towards satisfying the final consumer based upon the organization of selling goods and services as a means of distribution. The Actual term ´retailing` is thought to be derived from the old French word ´retailler` which means ´a piece of`` or ´to cut up` (Brown,1992). This implies the breaking-of-bulk function of the retailer- that is, the acquiring of large amounts of the products they sell and dividing them up into smaller amounts to be sold to individual consumers."(Retail Marketing Management, David Gilbert) * Marketing: There are many definitions of marketing and much confusion about what it is. The following definition that I have chosen should be clarify the mean: "Providing goods or services for which there is a known customer demand, as opposed to selling what the company likes to produce. By focusing on customers and their wants the company is better positioned to make a profit. The company is then said to be marketled, or to have a ´market orientation`." (Marketing Plans, Malcolm McDonald) * Marketing Mix: "The marketing mix consists of the controllable variables which marketing management can use to influence customer demand." The basic ingredients of the marketing mix are: product, price, promotion and the place. ...read more.
For each of these in turn there are different options that are available, Packaging it is how the product is presented to the customers this is normally the physical appearance and the packaging in which the product is sold. For this company as the products are bought from manufactures which sell through many different outlets the product already come packaged up and this is not a large concern of the company just to ensure that the packaging stays in good condition. Personal selling involves communication directly with the customers; this is always one to one contact for example double glazing sales man. This involves the sales man approaching the customers rather than the customers coming to a shop. Potentially this is the promotion technique that is most likely to sell the most products but this is not a good option for your company, as it would involve large amounts of stock being taken to see all the clients. Public relations are the relations between the company and the public. This is about presenting a caring image to the public and potential customers, of a place were they would want to shop. This image can be achieved by: · Through sponsorship of events related to the product or the image that is wished to be portrayed. · Sponsorship or the setting up of youth teams. · Making money available for help with community projects such as building a youth centre. · Buying equipment for schools. (Marketing Plans, Malcolm McDonald) Due to the fact that "Urban Surf" is such a small newly opened company they will not have the large P.R budget to cover these large events. ...read more.
This would there fore mean that new customers would visit the shop because there is a discount. Thirdly I would I suggest that the company has a large and colourful displays which are in store. This will there for be point of sale promotion. Using this the company will be able to market the product ranges in specific ways. This could also an advantage to the company as the clothing firms that the shop deals with may already supply stands and displays. If they do not the clothes company may be willing to allocate funds for purchase of these products. Also I would also recommend a large sign out side of the shop to increase attention and to encourage people in to the shop this should also be accompanied by sign on the side of the street for the purpose of informing people where the shop is allocated. The pricing strategies of the company would not greatly come in to play as the clothes prices are already set when they come from the factories so your company will only have a say on the discounts on old ranges or other deals negotiated with the producer. The final suggestion I think that the company should use is that they should have an advert in the local newspaper which will then have the affect of also drumming up new business this could also have a free 15 euros off voucher on it so that customer will be more likely to try the shop. Although this will cost the shop quite a large amount of money it will introduce new customer and also get the company know. Retail Marketing & Logistics ...read more.
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