Retail Store Marketing For Prime Business Opportunities
Marketing is to make use of various platforms like newspapers, websites, or any form of social media to advertise something. Marketing can be done for anything, a fashion, an issue, an event, or anything else. Proper marketing is very important for making anything a success Chiefway Malaysia. It allows the seller to contact a very large range of audience in one go. Anyone who watches an ad or something on social media, they share it further which leads to a very large population to be engaged in it.
Retail Store Marketing refers to the process through which the product is brought directly to the customer in the retail store. It involves three stages planning, promotion, and presentation of the product to the customer. Retail Store Marketing considers many elements like packaging, pricing, etc.
Principles Of Retail Marketing
- Product: The very first principle of Retail marketing. For the marketing process to begin https://chiefway.com.my/, firstly the person should have a product to sell. The product should be well presentable. Anyone cannot present a product without packaging. Beautiful and clean packaging gives an appealing look to the product.
- Price: The second principle of Retail Store Marketing is Price. This factor is very important to make the customer buy the product. If the prices would be high, it will discourage the customer to buy it. In reverse, if the prices will be low, it will encourage them to try it, but at the same time, too low prices can cause loss to the product owner. So in deciding this element, one has to be very careful and has to find a soft level price that will satisfy the aspirations of the retail store owner as well as the customer.
- Place: The third principle of retail marketing is Place. This principle states that the location at which the product has to be supplied has to be decided carefully. This is so because you may have the best product, but if it is out of the range of the customers, it’s all waste. One has to decide where are the target customers for that product located to get maximum profit.
- Promotion: The third principle of retail marketing is Promotion. This step is probably the most important one. This is the time where the actual interaction with the customer is made. This stage is all about talking to the customers and making them interested, even if they are not, to buy the product. Good promotion requires a deep talent to understand the needs of the customer.
A retailer plays a very important role in selling the product. A retailer is the one who directly interacts with the customers and makes them agree to buy the product at a profitable price. Customer satisfaction is the most crucial factor that a retailer should consider. A retailer is the one who purchases goods from different manufacturers and makes it available to the people locally. A retailer also tells the manufacturer about the likes, dislikes, and desires of the customer. This is the reason why retail marketing is very important for profit.