MBA Direct Admission in Retail at Top Colleges

MBA Direct Admission in Retail at Top Colleges

MBA Direct Admission in Retail at Top Colleges
MBA Direct Admission in Retail at Top Colleges

A process of promoting greater sales and customer satisfaction by gaining a better understanding of the consumers of goods and services produced by a company. For MBA direct admission in retail at top colleges in a typical management strategy for a manufacturing business might research the business process that distributes the finished products created by the business to consumers to determine and satisfy what buyers want and require.

Call for more Details at 09035556036 (Mayur Gautam), 09632226036 (Shekhar), 09742479101 (Ankit Mishra), & 09742886036 (Anis) or you can also drop us an email at contact@trump.net.in or visit www.directmba.in for further information.

Characteristics of a retailer in a marketing strategy:

( MBA Direct Admission in Retail at Top Colleges )

In the entire distribution chain, a retailer is considered to be the final link, who deals directly with the customer.

  • A retailer purchases in bulk from the wholesalers and sells the products to the customers in small quantities.
  • A retailer essentially maintains a variety of merchandise.
  • The aim of a retailer is to achieve maximum satisfaction by exceeding their expectations and delivering exceptional services. ( MBA Direct Admission in Retail at Top Colleges )

Types of retails outlets: ( MBA Direct Admission in Retail at Top Colleges )

Department Stores:

A department store is a set-up which offers wide range of products to the end-users under one roof. In a department store, the consumers can get almost all the products they aspire to shop at one place only. Department stores provide a wide range of options to the consumers and thus fulfil all their shopping needs.

Merchandise:

( MBA Direct Admission in Retail at Top Colleges )

  • Electronic Appliances
  • Apparels
  • Jewellery
  • Toiletries
  • Cosmetics
  • Footwear
  • Sportswear
  • Toys
  • Books
  • CDs, DVDs

Discount Stores:

( MBA Direct Admission in Retail at Top Colleges )

Discount stores also offer a huge range of products to the end-users but at a discounted rate. The discount stores generally offer a limited range and the quality in certain cases might be a little inferior as compared to the department stores.

Supermarket:

( MBA Direct Admission in Retail at Top Colleges )

A general store which generally sells food products and household items, properly placed and arranged in specific departments is called a supermarket. A supermarket is an advanced form of the small grocery stores and caters to the household needs of the consumer. The various food products (meat, vegetables, dairy products, juices etc.) are all properly displayed at their respective departments to catch the attention of the customers and for them to pick any merchandise depending on their choice and need.

Warehouse Stores:

( MBA Direct Admission in Retail at Top Colleges )

A general format which sells limited stock in bulk at a discounted rate is called as warehouse store. Warehouse stores do not bother much about the interiors of the store and the products are not properly displayed.

Call for more Details at 09035556036 (Mayur Gautam), 09632226036 (Shekhar), 09742479101 (Ankit Mishra), & 09742886036 (Anis) or you can also drop us an email at contact@trump.net.in or visit www.directmba.in for further information.

How retailer helps in marketing?

( MBA Direct Admission in Retail at Top Colleges )

The retailer through various ways of advertising strives hard to promote his brand amongst the masses for them to visit the store more often. ( MBA Direct Admission in Retail at Top Colleges )

Advertisements attract the customers into the store. They act as a catalyst in bringing the customers to the stores.

The advertisement must effectively communicate the right message and click on the customers. It should be a visual treat and appeal the end-users. ( MBA Direct Admission in Retail at Top Colleges )

Call for more Details at 09035556036 (Mayur Gautam), 09632226036 (Shekhar), 09742479101 (Ankit Mishra), & 09742886036 (Anis) or you can also drop us an email at contact@trump.net.in or visit www.directmba.in for further information.

Modes of advertising for this management:

  • Nothing works better than promoting a brand through signboards, billboards, hoardings and banners intelligently placed at strategic locations like railway stations, crowded areas, and heavy traffic crossings, bus stands, near cinema halls, residential areas and so on. Such advertising is also called as out of home advertising. ( MBA Direct Admission in Retail at Top Colleges )
  • Out of home advertising is a way to influence the individuals when they are out of their homes. The hoarding must be installed at a height visible to all even from a distance.
  • Make sure it catches the attention of the passing individuals and influences them to visit the store.
  • Keep it simple and make sure it doesn’t confuse the customers; instead it should convey the information in its desired form. ( MBA Direct Admission in Retail at Top Colleges )
  • Print media is also one of the most effective ways to promote a brand. Newspapers, magazines, catalogues, journals make the brand popular amongst the individuals. Retailers can buy a small space in any of the leading newspapers or magazines; give their ads for the individuals to read and get influenced.
  • Television also helps the brand reach a wider audience. Now a days retailers also use celebrities to endorse their products for that extra zing. Celebrities are shown using the particular brand and thus making it a hit amongst the masses. ( MBA Direct Admission in Retail at Top Colleges )
  • Sachin Tendulkar – the famous Indian cricketer endorses Castrol India, MRF tyres, Adidas, Boost etc. A child gets influenced to drink Boost because his favourite cricketer drinks the same.
  • Radio Advertisements also help in creating brand awareness. ( MBA Direct Admission in Retail at Top Colleges )
  • Social networking sites have also emerged as one of the easiest and economical ways to promote a product or brand. ( MBA Direct Admission in Retail at Top Colleges )

Call for more Details at 09035556036 (Mayur Gautam), 09632226036 (Shekhar), 09742479101 (Ankit Mishra), & 09742886036 (Anis) or you can also drop us an email at contact@trump.net.in or visit www.directmba.in for further information.

Difference between product and service retailing:

( MBA Direct Admission in Retail at Top Colleges )

  • In the case of Product Retailing, the governing factors are the cost as well as the quality of the products. On the other hand, in the case of service retailing the factors which determine the success of services are timeliness and the overall attitude and conduct of the service providers.
  • In Product Retailing the relationship between the consumer and the retailer is developed only when the consumer pays frequent visits to the outlets. On the other hand, in the case of relationship, the relationship between the customer and the service provider is established from the start itself.
  • Products are tangible and can be very well stored, whereas, services cannot be stored due to its intangibility. ( MBA Direct Admission in Retail at Top Colleges )
  • Another factor which distinguishes product retailing from service retailing is standardization. Standardization is possible in case of product retailing but not possible in case of service retailing due to the human element involved in the delivery of services.
  • Transfer of ownership is possible in case of product retailing but not for service retailing. Once the product is purchased by the consumer, the ownership of the product gets transferred from the retailer to the consumer. But, in the case of service retailing the consumers are only the end users of the services but the ownership remains with the service providers. ( MBA Direct Admission in Retail at Top Colleges )

Call for more Details at 09035556036 (Mayur Gautam), 09632226036 (Shekhar), 09742479101 (Ankit Mishra), & 09742886036 (Anis) or you can also drop us an email at contact@trump.net.in or visit www.directmba.in for further information.

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