Philip Kotler:“Retailing includes all the activities involved in selling goods or services to the final consumers for personal, non business use.”
The final step in the distribution of merchandise for consumption by the end consumers.
A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.: Kotler & Armstrong
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. : AMA
Obtaining demand via :
Price and pricing Advertising Personal selling Sales promotion Product planning Customer
segmentation Merchandise display Store location
Servicing demand through :
Transportation Logistics Warehousing Customer service Inventory control Order processing Merchandise
handling Credit control
Creation of demand for goods & services
Focus on overall needs of customers’ needs and satisfaction
Emphasis on customers satisfaction
Selling goods and services
Focus is on the customer
Emphasis on selling and earning profit
Manufacturer Manufacturer - Wholesaler - Retailer -
Consumer Manufacturer - Retailer - Consumer Manufacturer – Consumer
Retailer Promotion Product Price Place
Customer: Marketing Research on Shopping behaviour, brand choice and customer response.
Advertising & Promotions Define target Merchandise display Location Pricing Sales Promotion Product Planning
Retail Mix is the combination of factors retailer use to satisfy customer needs and influence their purchase decision.
Retail Mix help in the carrying out of operations in order to achieve the set goals.
Address Customer Needs Formulate Strategy Coordinate Operations Respond to Competition