7P's of retailing
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Transcript of 7P's of retailing
RETAILING
RETAIL
The process of selling consumer goods
and/or services to customers through
multiple channels of distribution to earn
a profit.
RETAILING
Philip Kotler “Retailing includes all the activities
involved in selling goods and services to the final
consumes, for personal, non-business use. A retailer
or retail store is any business enterprise wholesales
volume comes primarily from retailing.
RETAIL MANAGEMENT
The various processes which help the customers
to procure the desired merchandise from the
retail stores for their end use refer to retail
management.
EVOLUTION OF RETAIL IN INDIA
Traditional
Formats
Haats
Melas
Mandis etc.
Established
formats
Kirana shops
Convenience/
department stores
PDS/
fair price shops
Pan/ Beedi shops
Emerging
Formats
Exclusive retail outlets
Hypermarket
Internal retail
Malls / Specialty Malls
Multiplexes
Fast food outlets
Service galleries
THE SERVICE PROVIDE BY THE RETAILER
CAN BE CLASSIFIED IN TO THREE CATEGORY
Self-Service
Assorted-Service
Full-Service
Access to Customers
Access to Product
ESSENTIAL CHARACTERISTICS OF
RETAILING
o Direct interaction with customers:
o Small purchases:
o Instrument of marketing communication:
TYPES OF RETAILING:
Types of Retailing.
Organised Unorganised
ORGANISED TYPE OF RETAILING:
o Convenient Store
o Discount Store
o Specialty Stores
o Department Stores
o Cash & Carry
o Hyper Market/ Super
Market
o Shopping Malls
UNORGANIZED TYPE OF
RETAILING:
o Mom-and-pop stores
o Vending
o Kirana
7Ps of Retailing
1. PRODUCT
General Merchandisers.
Multiple Lines Specialty Merchandisers.
Single Line Specialty Merchandisers.
2. PRICE
Market penetration pricing strategy
High price strategy
Cost-oriented pricing strategy
The strategy of prices adjustment to market conditions
Competition-oriented price strategy
3. PLACE
Retailing is the final business in a distribution
channel.
4. PROMOTION
Advertising
Public relationship
Personal selling
Sales Promoting
5. PHYSICAL EVIDENCE
6. PEOPLE
The success of retailing is depend on the qualit of
employee .
7. PROCESS
Process must help the customers to get what they
want & it also should minimize the purchasing
time.
CONCLUSION
MAJOR CONCERNS
Ability to Acquire the Right Products
Product Presentation
Traffic Building
Layout
Location
Keeping Pace With Technology