ANALYSIS OF RETAIL MIX STRATEGIES: A SPECIAL FOCUS ON MODERN RETAIL FORMATS

  • Dr. K. Aparna Assistant Professor in Humanities & Basic Science Department, G. Pulla Reddy Engineering College (Autonomous) Kurnool - 518007, A.P., India
  • Dr. P. Murali Krishna Professor of Management & Dean, Industry Interface & International Collaboration (IIIC) Sri Krishnadevaraya University, Anantapur, A.P. - 515003, India
  • Dr. V. Satish Kumar Professor of Industrial Management, G. Pulla Reddy Engineering College (Autonomous) Kurnool - 518007, A.P., India
Keywords: Retail Format, Retail Mix Strategies, Customer Retention Strategies, Image Enhancement Strategies, Departmental Stores, Hypermarkets

Abstract

A shopper usually comes across many retailers in the market place, each having its own overall product offering. One retailer may be attracting customers due to its unbeatable location and visibility, other on the basis of discounted prices, someone on the basis of variety of merchandise or specialised product offering. If small retailers promise to offer the convenience of fulfilling the daily needs at your doorstep, the big retailers promise to offer better value in terms of competitive pricing and convenience of making all products available under the same roof. Then online retailers are trying to outsmart conventional retailers by killing time and distance constraints. Thus, it is seen that retail market place has become very competitive and challenging over a period of time. Market has already become tough due to increasing cultural and demographic diversity and changing lifestyles over a period of time. Every market has its own set of needs. Like any marketer, a retailer has to decide which kind of market it should cater to in a satisfactory manner. As a result, the retailer has to explore many options to differentiate themselves in the market place and appeal to its target customers. The options are available in the form of combining different elements of retail mix. Retail mix is mainly deciding about merchandise, price, promotional mix, location, services extended etc. to serve the needs of target market in a satisfactory manner. Retail format is the popular term used for retail mix. It bears close resemblance with marketing mix. In the ensuing study, discussion about various retail formats is carried on.

Downloads

Download data is not yet available.

References

PricewaterhouseCoopers. (2011). Winning India's Retail: Factors for success, pp 3-5.

Swapna Pradhan (3rd Edition) Retailing Management: Text & cases New Delhi: Tata McGraw Hill. pp-137-147

KVS Madaan. (2009). Fundamentals of Retailing New Delhi: Tata McGraw Hill pp 75-91

Kotler, Keller, Koshy, Jha. (2007). Marketing Management A South Asian Perspective New Delhi: Pearson. pp 145-170

Michael Levy, Barton A Weitz (2003). Retailing Management NewDelhi: Tata McGraw-Hill.pp 151-157

Field, A. (2005). Discovering Statistics Using SPSS (Second Edition ed.). London: Sage.

Grewal, D., Levy, M., and Kumar, V. (2009). Customer Experience Management in Retailing: An Organizing Framework. Journal of Retailing, 85(1), 1-14. DOI: https://doi.org/10.1016/j.jretai.2009.01.001

Gupta, S., Jain, k., and Jain, D. (2009). Retention Strategies for Organized Retailers in Semi-Urban Markets. ICFAI University Journal of Marketing and Management, VIII (2), 24-37.

Jain, R., and Bagdare, S. (2009). Determinants of Customer Experience in New Format Retail Stores. Journal of Marketing & Communication, 5 (2), 34-44.

KVS Madaan.(2009). Fundamentals of Retailing New Delhi: Tata McGraw Hill pp 192-199

Jasola, M. (2007). Emerging Trends in Retail Sector. Journal of IMS Group, 4 (2), 22-28.

Rajagopal. (2007). Leisure Shopping Behaviour and Recreational Retailing: A Symbiotic Analysis of Marketplace Strategy and Consumer Response. Journal of Hospitality & Leisure Marketing, 15(2), 5-31 DOI: https://doi.org/10.1300/J150v15n02_02

Tendai, M., and Crispen, C. (2009). In-store shopping environment and impulsive buying. African Journal of Marketing Management, 1(4), 102-108.

Anand, K.S., and Sinha, P.K. (2009). Store format choice in an evolving market: role of affect, cognition and involvement. International Review of Retail, Distribution and Consumer Research, 19(5), 505-534. DOI: https://doi.org/10.1080/09593960903445376

Goldman, A. (2001). The transfer of retail formats into developing economies: The example of China. Journal of Retailing, 77(2), 221-242 DOI: https://doi.org/10.1016/S0022-4359(01)00044-6

Guy, C.M. (1998) Classifications of retail stores and shopping centres: Some methodological issues. Geo Journal, 45, 255-264.

Published
2018-05-31
How to Cite
K.Aparna, Krishna, P., & Kumar, V. (2018). ANALYSIS OF RETAIL MIX STRATEGIES: A SPECIAL FOCUS ON MODERN RETAIL FORMATS . International Journal of Engineering Technologies and Management Research, 5(5), 71-76. https://doi.org/10.29121/ijetmr.v5.i5.2018.228