Services Marketing

Chapter 28 : Professional Services Marketing - (IT Services, Consultancy, Healthcare, Advertising & Retailing Industries)

Retailing Industry

Characteristics of Retailing Industry

Entry and Exit Barriers
Customers
Suppliers Competition

Marketing Segmentation

Geography Demographics Psychographics

Marketing Strategy

Marketing Mix

Product/merchandise
Price
Place
Promotion
Physical Evidence
People
Process

Recent Trends

Technology
Globalization

Retailing Industry in India

Section Summary - Retailing Industry

The retail industry is characterized by low entry and exit barriers, demanding customers, suppliers negotiating for better margins and intense competition. The market for retail industry can be divided into segments based on geography, demographics and psychographics. Based on types of products offered, the stores can be divided into specialty stores, one-stop shops and category killers.

Retailers need to formulate their marketing strategy after analyzing their strengths and weaknesses and identifying opportunities and threats posed by the external environment. Advancements in information system have revolutionized the way retailers conduct their business. Many retailers are entering overseas markets, especially in developing countries, because of the increasing purchasing power of customers there and the easing of government regulations. The share of the organized sector in the Indian retail industry is gradually increasing and competition is intensifying among the players.

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