Retail marketing is the range of activities undertaken by a retailer to promote awareness and sale of the company’s products. Retail marketing is different from other types of marketing because of the components of the retail trade, such as selling finished goods in small quantities to the consumers, usually from a fixed location. Retail marketing makes use of the common principles of the market mix, such as product, price, place and promotion.
The business of retailing in India has seen significant changes in the last few years. We have seen the emergence of new retail formats like Hypermarkets and Supermarkets. These formats have adopted new technologies to gain competitive advantage and serve their customers more efficiently. Indian retail sector is providing wide choice of products to consumers. It is also providing employment opportunities to large number of people.
Retail managers are responsible for the day-to-day running of stores or stores or departments. The aim of any retail manager is to maximize profit while minimizing costs. Retail managers ensure promotions are accurate and merchandised to the company’s standards. The retail manager should ensure that their employees are fully trained to provide greater customer satisfaction. Depending on the size of the store, and company structure, retail managers may also be required to deal with human resources, marketing, logistics, information technology, customer service and finance. Therefore, it is a real challenge for retail organizations to satisfy and retain its consumers.
This title is written for beginners to understand the concepts of retail marketing and its management. As a subject of study in core area of degree level, most of the universities offering business education have introduced Retail Management as one of the essential subjects of study for the reasons cited above. In this context, this title is prepared to give a broad outline of Retail Management covering mainly the syllabus content at degree level. The process involved in conducting retail business is explained in a sequential order commencing from understanding consumer behaviour to store management. At the end of each chapter graded questions are given for self study.
Chapter – 1 Introduction to Retailing
Chapter – 2 Consumer Behaviour In Retail Business
Chapter – 3 Retail Operations
Chapter – 4 Retail Marketing Mix
Chapter – 5 Impact of It In Retailing