Just when we have finally mastered the marketing mix that includes the four Ps, we arrive at the retail strategy. The retail marketing strategy includes all of the elements of the traditional marketing mix: Retailers buy product from producers or wholesalers that will most appeal to their target market.Retailers set a price that delivers value for the product and the complete shopping experience.Retailers promote their offering, which includes the shopping Read More

Beyond the distinctions in the products they provide, there are structural differences among retailers that influence their strategies and results. One of the reasons the retail industry is so large and powerful is its diversity. For example, stores vary in size, in the kinds of services that are provided, in the assortment of merchandise they carry, and in their ownership and management structures. The U.S. Census Bureau indicates that 94.5 percent of retail companies have only one Read More

Retailing involves all activities required to market consumer goods and services to ultimate consumers who are purchasing for individual or family needs. By definition, B2B purchases are not included in the retail channel since they are not made for individual or family needs. In practice this can be confusing because many retail outlets do serve both consumers and business customers—like Home Depot, which has a Pro Xtra program for selling directly to builders and contractors. Read More