Welcome to Retail Marketing Lecturer Jason Normal Lecture class Details will be posted on ISAP Plan of course assignments etc.Retail MarketingJ. Maria Banks1Course outline Assessment Coursework 30Exam 70Retail MarketingJ. Maria2Assignment 30 Individual assignment 25 example Critically evaluate the impact of the change from retailers being location-oriented to being a multichannel retail outlet. Discuss the implications of this approach on retail strategy the retail mix and consumers. 2000 word essay Due in on 25th November 2008Retail MarketingJ. Maria3Definitions Marketing The management process responsible for identifying anticipating and satisfying customer requirements profitably CIM 2001 Retail marketing Any business that directs its marketing effort towards satisfying the final customer based upon the organisation of selling goods and services as a means of distribution Gilbert 1999 Retail marketing must seek to deliver a co-ordinated response to the opportunities and challenges of identifying anticipating and satisfying customer requirements profitably McGoldrick 2002Retail MarketingJ. Maria4Retail - Significance All have experience of Retail we all shop 2.9 million employed in it 11 of all employees National Statistics 2005 The sector is expected to see the creation of 270000 new jobs in the years leading up to 2012 with 31 of these at managerialprofessional level Working Futures. Changing demographics having a significant impact on the Retail Landscape In the UK Over 50s spend 240 billion per annum more than half total consumer spend Nearly 1 in 13 ethnic minority Singles 13 urban singles SLOPs on the riseRetail Marketing J. Maria5Retail concentration High profit in a retail enterprise almost immediately invites competition Relatively low investment Ease of entry constantly forces down profits Prices difficult to control In addition the competitive pressure generated by supermarket expansion development of retailers own labels and abolition of RPM have all led to RETAIL CONCENTRATIONRetail MarketingJ. Maria6Retail Marketing Historical Development Production orientation Shift in power from manufacturers to retailer 1. Resale Price Maintenance abolished RPM 1964 2. Large scale multiple chains Retail concentration 3. Spread of own brands 4. Horizontal market power 5. InformationSellingMarketing Environmental Changes Major contributor to economyRetail MarketingJ. Maria Banks7The Retail Mix Lazer Kelley 1961 The total package of goods and services that a store offers for sale to the public The composite of all effort which was programmed by management and which embodies the adjustment of the retail store to its market environmentRetail MarketingJ. Maria8The elements of Retail Marketing Mix Omar1999 Personal sellingServicePriceImage LocationThe Brand Communication Sales incentiveRetail Marketing BanksJ. Maria9Retail Marketing Function Location management Operations management HR management Customer services Customer insight Financial control Agencies BuyingRetail Marketing J. Maria10Theories of Retail Change Wheel of retailing McNair19311958 The Retail Life Cycle Theory Non-cyclical frameworks Environmental approach Conflict theory -Brown 1984 Article on StudyNet Innovation and Evolution in UK retailing The Retail Warehouse Brown 1990Retail Marketing J. Maria11Summary but not the end Retail marketing is marketing in a retail environment Requires management of specific marketing mix variables There has been a dramatic shift in retailers power with a major impact on the economy Retail MarketingJ. Maria12
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