Retail is an active element of marketing

Retail is an active element of marketing

In modern conditions of commerce development, there is a high rate of retail trade due to the active use of marketing solutions Smart Glass. Trade acts as a leading branch of marketing in the economy. It is the retail trade that orients domestic producers to the maximum extent to take into account the demands of society.

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Retailers are mobile, low-cost, with great flexibility to adapt to market changes.

Retail is a system of retail (from the English. Retail trade ‘small business’) – the sale of goods for personal and family use, in single quantities.

Retail is based on the theory of individual choice Chiefway Thailand, based on the principle of consumer priority, therefore, it is a social expression of the quality of life of society.

Retail trade is an exchange process aimed at meeting the needs of people through the free sale of goods and services of value to the buyer.

The first stage involves the analysis of the product niche, taking into account the competitive environment and the solvency of customers in the target segment.

At this stage, it is necessary to perform an analysis of the market environment with the allocation of market share, possible potential and capacity of the target segment.

The assessment of the company’s competitiveness should be performed in the mode of SWOT – analysis, taking into account both its own advantages and disadvantages, and the leader of the competition. It is necessary to assess the benefits of marketing strategies for pricing, product policy, distribution and positioning.

Along with taking into account external and internal factors, it is important to correctly determine the location of the outlet. The choice of location should take into account the preferences of potential consumers and the capabilities of the retail store.

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The rationale for the location is a comprehensive assessment:

  • District – industrial, office, sleeping;
  • The intensity of traffic near the store;
  • Possible coverage radius of buyers;
  • Availability of parking space and convenience;
  • The presence of similar outlets near the store, as well as industrial facilities.

At the first stage it is necessary to carry out especially carefully segmentation of consumers with allocation of a social position of buyers and motives of purchase. Along with this, it is advisable to create an information database of regular customers. The main tools of segmentation research can be focus groups of buyers, commercial leaflets, questionnaires, visual observations, presentations.

The second stage involves the development of a marketing mix program, systematic and flexible use of all tools.

The organization of the trade process is accompanied by the formation of commodity policy. It is necessary to analyze the attractive and sustainable range from the standpoint of the level of demand, possible consumer satisfaction, and profitability of trade. An important addition to product policy is the selection of reliable suppliers and the creation of optimal levels of inventories.

It is especially necessary to develop a pricing policy taking into account the price threshold, the level of the average market price, the elasticity of demand, the price of competitors, trends, real opportunities of the store.

A significant addition to the second stage is the work to create possible trade discounts, markups using trade incentives – sales, accumulative discount cards, coupons, raffles, contests, flexible forms of payment, credit.

It is very important to develop a distribution policy. It is necessary to consider working with suppliers for profitable commercial relations on the basis of the concept of partnership, as well as to assess the availability of vehicles, possible customer service.