Retail marketing is the process of the professional promotion of products in small quantities to consumers with the aim to receive the highest profit. Retail marketing differs from other forms of marketing with the simple element – retail sale is the sale of a very small number of goods in the definite place, while other forms of marketing are aimed at the promotion of goods among the broad audience. It is quite difficult to carry out the right policy of retail marketing, because small retailers often face the problem of serious competition with big supermarkets and malls which sale an enormous number of products in one place. The choice of goods at small retail stores is poorer, and the only way out is to brainstorm the right strategy which will help one to promote retail products better. Retail marketing starts from the right identification of the product. Most often the products sold at retail stores are original and handmade, what makes them attractive to the certain categories of consumers.
Another step is the creation of the right price. One should pay attention to the high competition on the market between other retailers and big supermarkets. So, the only way out is to make the prices lower than at a supermarket to attract consumers. The next component of the successful marketing is the choice of the place where to sell goods. The place should be as convenient as possible (at a crowded place) in order to attract more clients. Finally, it is important to promote the product in the appropriate way with the help of the printed ads, ads in the Internet, TV, radio, etc.
Retail marketing can become a good topic for the research for the student who is interested in marketing strategies and techniques. When one wants to observe the problem on retail marketing and its interesting points, he can complete a detailed research proposal which will illustrate to the professor all the issues and aspects of the problem which require additional analysis. The proposal should be brief, logical and precise to make the clear presentation of the research project which can become interesting to the professor. The student’s duty is to convince the teacher to accept his topic and permit him to write the paper on retail marketing.
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