CONTEMPORARY RETAIL MARKETING

Contemporary Retail Marketing

Contemporary Retail Marketing

Introduction

Internationalization of retailing firms has received an increasing attention from researchers in recent years. We focus her on the market selection and competitive advantages of retail operations in international markets motives behind international retail activity and matching/networking (Cox & Brittain, 2000: 26). Most of these studies, however, focus on developed country firms and there is lack of research on retail internationalization of the emerging market firms.

This paper will be discussing the learning outcome one that states to apply Retail Marketing concepts to the practice of retail organisation in the UK and elsewhere in the world, draw conclusions and generate alternative courses of action. We will be discussing the concepts of retail marketing. In the second section Retail Marketing Concepts to the Practice of Retail Organisation with the help of Retailers and Their Suppliers. Challenges will be provided and after the discussion of the challenges a brief course of action will be defined with examples which will be helping an organization to keep their customers loyal to them.

Concepts of Retail Marketing

So, this is the first, the initial section of the paper. Here we give a definition of retail trade, look at it from different points of view, will show its effect and point to the features. One of the main objectives of this section of the paper is to show the application of marketing concepts to the retail trade, with greater emphasis on such things as general impressions of buyers from the retail company, customer service and retail trade on the basis of relations.

Retail trade (retailing) includes economic activities associated with the sale of goods and services to consumers to use them personally or their families (Guy, 2007: 12). In this case it is a fact of any sale of goods and services to final consumers, from cars and clothing to food in restaurants and theater tickets. Retail - this is the last step in the process of distribution. In contrast to the retail, wholesale trade (wholesaling - is an intermediate step in the process of distribution, where goods and services are not sold to the final consumer, and company-customers (for example, manufacturers or retailers) of these firms, in turn, use these products and services to run their own business or for resale to others.

There are different approaches to the study of retail trade. The institutional approach is based on the description of types of retail trade and development. When using the functional approach, focused on actions carried out by retail firms (such as the procurement of goods, pricing and work with frames) (Fernie & Moore, 2003: 14).

The Importance of Retail-Based Relations

The best of the existing retailers have already realized the importance of retail-based relationships (relationship retailing). This means that they seek to build and maintain long-term relations with customers, and not behave as if every regular purchase at the store makes absolutely unknown to them, man (Evans & Berman, 2007: 54). Thus, retailers should focus on the fact that customers receive the best possible experience from ...