Promotional strategies in retail management,inbound marketing consultant rates,best advertising video 2013 zippy - 2016 Feature

Planning a Cooperative Strategy • What ads qualify, in terms of merchandise and special requirements? Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Priit is the founder and CEO of DreamGrow Digital, an internet marketing and social media company. When it comes to non-traditional marketing, North American retailers have mostly cottoned onto hosted social networking sites (75%), but are far less likely to have implemented other strategies such as SMS (40%), 2D barcode scanning by customer smartphones (30%), and location-based social networking (29%), details Boston Retail Partners in a January study.
The researchers point out that the percentage of retailers hosting their own social networking sites has risen slightly from last year, while the proportion monitoring external sites has fallen. Marketing, advertising, communications & public relations trends, statistics, charts, graphs, infographics, presentations, and video that are not published to the e-Strategy Internet Marketing Blog or to eStrategy TV.
David Erickson, VP of Online Marketing at Minneapolis Public Relations firm, Karwoski & Courage.
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With his 20+ years internet marketing experience he is Helping companies to understand and use the digital marketing to reach their target audiences. The results also show that many retailers aren’t interested in blogs: 42% have no plans to implement their own hosted blogs, and 39% won’t monitor external blogs.
By “controlling their own destiny” on social media, retailers are more able to “react quickly to any issues that may occur and more readily reward loyal customers.” Read the rest at MarketingCharts. For viewing only, you can play with our flash based presentation viewer instead of downloading the ppt file. He has spoken at hundreds of seminars and conferences on different aspects of internet marketing. The customer should have distinct expectations from the store when he walks into it which should be different from the expectations that he has when he walks into another store.
For example, if you want a 50 GRP (showing), than 50% of the population should see your billboards every single day. For some products, his choice of brand may be very clear, and a salesperson’s attempt to help him would only irritate him.But for some other products, the same customer would solicit help of salespersons in making a choice among brands and would welcome a salesperson’s attempt to influence his purchase. For some purchases, the customer would like his favourite brand to be placed prominently on the shelf.But when he does not have a clear brand choice, he would not mind some clutter on the shelves because he wants all the brands to be available.
Most customers would prefer to be allowed to pay their bills as early as possible but on some occasions they would be more tolerant of delays than on others.Customers would be finicky about delays in making payments when they are rushing home after office but they would be more relaxed during their weekend shopping trips.
A store may be famous for being very prompt in stocking the latest or the most fashionable product. Another may be known for stocking all possible variety in a category and yet another may be famous for stocking the most premium brands.A store would become too unwieldy if it tries to have too many different types of assortments.
A store which stocks the latest products in a category will also be able to stock the most premium brands of the category but the attention of the company will be divided and it will be difficult to handle relationships with diverse suppliers whose business philosophies are different.

Such a strategy will also send conflicting signals to customers as to what the store really stocks well.2. Location of the retail store: For some products like groceries, consumers do not like to go to a far away store. A retailer has to decide whether it will be a standalone store in a city, or will it open stores to cover a designated area like a city, state or country. A retailer may decide to open one store in each city.The retailer has to buy from distributors to replenish its stocks. Or it decides to open as many stores as a city can sustain, and moves to another city and again opens as many stores as that city can sustain.
It opens a distribution centre in each city.The distribution centre receives supplies for all the stores in the city in a single truck from each supplier. The retailer buys from the manufacturer directly, and does not have to buy from distributors.A retailer’s choice of a city depends upon factors like its congruence with its chosen target market, the level of disposable income, the availability of suitable sites and level of competition. A retailer’s choice of a particular site in a city depends on level of existing traffic passing the site, parking facilities, presence of competitors and possible opportunities to form new retailing centres with other outlets.
When two or more non-competing retailers agree to site outlets together, the retailing centre can draw more customers than what each individual store would have been able to do.More than proximity to customers, the location of a store is important in terms of how often the target customers are likely to visit the site as they live their lives.
The lifestyle of the target customers, and the goods and services that they buy will decide whether they will visit the site or not, and how often.Being in the place which the customer will visit in pursuance of his lifestyle will ensure that the customer will walk into the store.
This aspect is important because customers are combining purchases of different genre of goods and combining purchases of goods and pursuance of entertainment.3. Product assortment and services: A retailer has to decide on the breadth of its product assortment, and also its depth. A retailer may have a broad product assortment, but within each product line, it can stock a shallow product range. Or it can have a narrow product assortment, but within each product line, it can stock a deep product range.Therefore, a retailer’s choice of product assortment ranges from stocking one deep product line to stocking a broad range of products including toys, cosmetics, jewellery, clothes, electrical goods and household accessories. A retailer begins with one or limited product lines and gradually broadens product assortment to be able to sell more products to customers who come to its store.Petrol stations start out as fuel providers, and expand by adding provision stores or food outlets to maximize the revenue that can be obtained from the customer. Some stations on the highway may also add a Cineplex to make their retail outlet a one-stop entertainment and utility centre for the customer.By expanding its product assortment, a retailer reduces price sensitivity of customers because a traveller stops at a petrol station as he can buy an assortment of products, and not because its fuel cost is low.
A retailer’s decision of the product assortment that he will stock will depend on its positioning strategy, the expectation that its customers have come to have of it, and also on the profitability of product lines that it carries.It may be prompted to drop slow moving unprofitable lines unless they are necessary to conform with the range of products expected by its customers.
A retailer also has to decide whether it will sell only manufacturer brands, or it will have its own label or store brands. Most manufacturers may sell own label brands products to compliment manufacturer brands.Retailers need to consider the nature and degree of customer service. Degree of service can vary from customers being expected to search for their items to elaborate displays and suggestions from sales personnel.
For instance, a cosmetics store can employ its personnel as grooming advisors to help a customer choose relevant products from the store.4.

Price:A retailer may choose to compete purely on price, but price can be a differential advantage only when a retailer has immense buying power, and has been able to control cost. A retailer may favour everyday low prices rather than higher prices supplemented by price discounts.Such a retailer is patronized by customers who prefer predictable low prices rather than occasional price discounts. A retailer may sell no-frill products, which are basic commodities such as bread and soft drinks that are sold in rudimentary packaging at low prices. It appeals to the price conscious shopper who wants standard products at low prices.Some retail items may be priced very competitively to generate more demand for other items.
Such products may often be sold below cost and are called ‘loss leader’.The idea is that the customers get attracted to the low price of the ‘loss leader’ and walk in the store to buy the item but may end up buying many more items.
Promotion: Retail promotion includes advertising, public relations, publicity and sales promotion. Retailers design ads, stage special events and develop promotions aimed at their markets.A store’s opening is a carefully orchestrated blend of advertising, merchandising, goodwill and glitter. All the elements of an opening—press coverage, special events, media advertising and store displays—are carefully planned.Retail advertising is carried out at the local level, although retail chains can advertise nationally.
Local advertising by retailers provides specific information about their stores, such as location, merchandise, hours, prices and special sales. In contrast, national retail advertising generally focuses on image.A popular retail advertising practice is cooperative advertising. Under cooperative advertising, manufacturers pay retailers to feature their products in store mailers or the manufacturer develops a TV or print ad campaign and includes the name of the retailers carrying the product at the end.Many retailers are avoiding media advertising in favour of direct-mail or frequent shopper programmes.
The frequent shopper programmes offer perks ranging from gift certificates to special sales for most frequent shoppers. Direct-mail and catalogue programmes may be a cost effective method of increasing store loyalty and spending by core customers.6. A retailer works on both exterior and interior designs to create an appropriate store atmosphere.
The store atmosphere should prompt target customers to visit the store and stimulate them to buy once they are in the store.External designs include architectural design, signs, window display and use of colour that create identity for a retailer.
For instance, a kids’ store is usually bright, vibrant (may be in the shape of Mickey Mouse) and colourful to attract the child and make him want to buy things in the store.Such a store should generally have lots of space for the child to move around and explore his world.
Interior design like store lighting, fixtures and fittings as well as layout, affect store atmosphere.If a store has narrow aisles, it appears congested and unclean, the customers may not like to spend too much time in such an environment. A poorly lit store is uninviting.Colour, sound and smell affect mood of customers, and customers stay longer in stores which are colourful, plays good music and smells good.
People attribute different meanings to different colours, and a retailer uses colours to create the desired atmosphere in the store.

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