Title: Introduction to Retail Marketing
Module: Retail and Experiential
Managing the marketing activity within the retail sector by influencing existing and potential
customers to purchase a company’s product. This is done by making the product seem more
appealing to the customers, making the layout of the store welcoming, making the location
convenient and making the purchase process as easy as possible.
Purpose of Retail Marketing
The purpose of retail marketing is to understand the demand of the customers, create what
they are looking for and sell it at a reasonable price that is both competitive and profitable.
❖ The main aim of retail marketing is to get customers to buy their products in order for
profitability and sales to increase.
❖ The benefits of it for the customers include that finding their perfect product is easier
as the products are more identifiable and their overall shopping experience improves
due to the standard of service provided.
❖ The success of retail marketing can be identified by looking at the sales/profitability,
how many customers come back, customer feedback and the rise of brand/product
awareness.
❖ Some features of retail marketing include; the layout of the store, the appearance of
the product, the standard of customer service and the company’s social media
presence, these are just some of the features that influence the customer’s decision.
Importance of Retail Marketing:
Buyer’s remorse affects many customers making them return their products because they
quickly regret buying them, retail marketing influences the customer’s decision, and therefore
makes it less likely for a customer to regret buying as they are reminded of the benefits of this
purchase. This can be achieved when the company highlights how a product can make their
life slightly easier or convenient.
Customer loyalty can be achieved through loyalty points, discounts or a strong sense of
familiarity with the business.
Loyalty points make a customer return as it makes them feel rewarded for buying certain
products, and they can then purchase items with the points they have saved.
Discounts make customers return as they feel like they are getting certain items for cheaper,
they therefore create a positive relationship with the company as they are satisfied with the
pricing.
Brand awareness (through advertisement) also makes customers return as they are familiar
with the company’s products and they know what to expect the product to be. This reduces
the chances of disappointment and therefore they are more likely to return to the company
rather than going elsewhere.
Increases in revenue, sales and brand awareness which helps with the success of the
company.
Module: Retail and Experiential
Managing the marketing activity within the retail sector by influencing existing and potential
customers to purchase a company’s product. This is done by making the product seem more
appealing to the customers, making the layout of the store welcoming, making the location
convenient and making the purchase process as easy as possible.
Purpose of Retail Marketing
The purpose of retail marketing is to understand the demand of the customers, create what
they are looking for and sell it at a reasonable price that is both competitive and profitable.
❖ The main aim of retail marketing is to get customers to buy their products in order for
profitability and sales to increase.
❖ The benefits of it for the customers include that finding their perfect product is easier
as the products are more identifiable and their overall shopping experience improves
due to the standard of service provided.
❖ The success of retail marketing can be identified by looking at the sales/profitability,
how many customers come back, customer feedback and the rise of brand/product
awareness.
❖ Some features of retail marketing include; the layout of the store, the appearance of
the product, the standard of customer service and the company’s social media
presence, these are just some of the features that influence the customer’s decision.
Importance of Retail Marketing:
Buyer’s remorse affects many customers making them return their products because they
quickly regret buying them, retail marketing influences the customer’s decision, and therefore
makes it less likely for a customer to regret buying as they are reminded of the benefits of this
purchase. This can be achieved when the company highlights how a product can make their
life slightly easier or convenient.
Customer loyalty can be achieved through loyalty points, discounts or a strong sense of
familiarity with the business.
Loyalty points make a customer return as it makes them feel rewarded for buying certain
products, and they can then purchase items with the points they have saved.
Discounts make customers return as they feel like they are getting certain items for cheaper,
they therefore create a positive relationship with the company as they are satisfied with the
pricing.
Brand awareness (through advertisement) also makes customers return as they are familiar
with the company’s products and they know what to expect the product to be. This reduces
the chances of disappointment and therefore they are more likely to return to the company
rather than going elsewhere.
Increases in revenue, sales and brand awareness which helps with the success of the
company.
