Definition Retail Mix? Meaning.
The Retail Marketing Mix is a marketing term that refers to the variables
that a retailer can combine in alternative ways to arrive at a marketing strategy
for attracting its consumers. The variables usually include factors such as:
merchandise variety and assortment and services offered, pricing, advertising,
promotion and layout, store design, store location, and visual merchandising.
It is a specialized form of the
Extended Marketing Mix for Retailers. In a typical retail business, the 7th P (Physical Evidence) is a bit redundant, unless services are a main component of the offering (banks, online retail, mail order).
Types of Retailers
Typically retail is a quick-paced, stimulating environment. Obviously, the retail marketing mix is dependent on the type of retailer:
Retail marketing is all about satisfying the customers: What matters is what the customers regard as value and most importantly what they buy. It encompasses a wide range of activities.
Elements of a Retail Marketing Mix
A good retail marketing mix must:
-
Meet the expectations of target customers
-
It's elements (see below) must be consistent with each other to create some form of synergy.
-
Be competitive to offerings from competitors.
The following list of typical elements can be used to develop a strong retail marketing mix:
Product (Merchandise)
- Product development
- Product management
- Product features and benefits
- Branding
- Packaging
- After-sales services
|
Price
- Costs
- Profitability
- Value for money
- Competitiveness
- Incentives
- Quality
- Status
|
Place
- Target market
- Channel structure
- Channel management
- Retailer image
- Retail logistics
- Retail distribution
|
Promotion
- Promotional mixes
- Advertising management
- Sales promotion
- Sales management
- Public relations
- Direct marketing
|
People
- Staff capability
- Efficiency
- Availability
- Effectiveness
- Customer-staff interaction
- Internal marketing
|
Process
- Order processing
- Database management
- Service delivery
- Queuing system
- Standardization
|
Physical Evidence
- Shops layout, reception, checkout
- Shopping mall
- Customer-staff interaction
- Atmosphere
- Customer testimonials
- Cash receipt
- After sales service
|
|
|
Forum about the Retail Mix. Below you can ask a question about this topic, share your experiences, report a new development, or explain something.
|
Point-of-sales Advertising
In fact, I am looking for the different techniques of POS Advertising that can make a product on the shelves more appealing and attractive. So, please I would like to gather as much as possible inform...
 10
 1 comments
|
|
Retail Mix is a Strategy
Retail marketing mix means a strategy that retailers use to attract customers and increase footfalls in the store.
Main points include:
1. Location strategy
2. Assortment strategy
3. Pricing strat...
 5
 2 comments
|
|
Point of Sale Systems
Can anyone share ideas as to what important criteria should be considered when assessing the pros and cons of point of sale technology?...
 1
|
|
Retail Management Assistance
Could somebody assist me project on retail marketing, management and consumer behaviour, strategic management and marketing in retail management such as of shopping mall, consumerism and induced consu...
 0
 1 comments
|
|
|
The best, top-rated topics about the Retail Mix. Here you will find the most valuable ideas and practical suggestions.
|
|
Advanced insights about the Retail Mix. Here you will find professional advices by experts.
|
|
Various sources of information regarding the Retail Mix. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.
|
Product Packaging Marketing, Sustainable Business, Environmental Sustainability, Packaging In-depth presentation about packaging and sustainable packaging. The presentation is very extensive and uses head sectio...
|
|
|
Jump to further research sources regarding the Retail Mix.
News
|
Videos
|
Presentations
|
|
Books
|
Academic
|
More
|
|
|
|
Compare with: Extended
Marketing Mix
|
|

Do you know a lot about the Retail Mix? Become our SIG Leader and gain worldwide recognition as an expert.
|
|
|
|