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Understanding Retailing and Promotion Mix

This lecture covers the fundamentals of retailing including its meaning, functions, types, and importance, along with the concept of promotion mix which involves tools used for communication in marketing. Learn about the factors influencing promotion mix strategies and their impact on businesses.

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Understanding Retailing and Promotion Mix

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  1. Lecture on Retailing and Promotion Mix www.AssignmentPoint.com

  2. CONTENTS • RETAILING • MEANING • DEFINTION • FEATURES • FUNTIONS • TYPES • PROMOTION MIX • MEANING • DEFINTION • TOOLS • FACTORS

  3. RETAILING

  4. MEANING • WHAT IS RETAILER ? • NOT POSSIBLE FOR A MANUFACTURER TO SELL HIS GOODS DIRECLTY • NEED FOR NETWORK OF DISTRIBUYION • MOST IMPORTANT LINK • SURIVAL IN THE MARKET • WARMTH OF HUMAN HEART • SAFE BUSINESS

  5. DEFINTION • “ Retailing includes all activities directly related to the sale of goods or services to the ultimate consumer for personal, non – business use.” - W.J. STANTON

  6. FEATURES • LOCAL IN CHARACTER • SERVICES AND CONVENIENCES • PERSONAL SELLING PLAYS AN IMPORTANT ROLE • CLOSE CONTACTS • ACT AS A LINK

  7. FUNCTIONS • PROVIDE GOODS • PROVIDE CREDIT FACILITY • GUIDE CUSTOMERS • PROVIDE WIDE CHOICE • CONSUMERS DEMAND • ASSUME RISK OF LOSS • MARKET INFORMATION

  8. TYPES OF RETAILING • POPULARITY OF NON – STORE RETAILERS

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  14. PROMOTION MIX

  15. MEANING • Promotion is one of the elements of marketing mix. It is used to inform, persuade and remind people about the firm and its product. Promotion is a strong technique to influence the feelings, beliefs and behavior of the consumers. Promotion is necessary for the competition.

  16. DEFINITION • “ PROMOTION MIX IS THE COMBINATION OF PROMOTION TOOLS USED BY A COMPANY TO COMMUNICATE WITH ITS AUDIENCES.”

  17. TOOLS OF PROMOTION MIX • Advertising • Personal selling • Sales promotion • Publicity • Public Relations

  18. FACTORS INFLUENCING PROMOTION MIX • Types of customers • Nature of the market • Nature of the product • Market position of the firm • Product life cycle • Availability of capital • Availability of sales force • System of distribution

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