full detail about the various elements of retail management

1. Retail Management and Elements
of Retail Management
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2. Group members
Kunal pawar- 012001
 Saurabh raut - 012003
 Akshata Manjrekar - 012004
 Jimly gogoi - 012012
 UTPAL BADWAIK - 012024

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3. Retail activity could be defined as:
Any business that directs its making efforts
towards satisfying the final consumer based
upon the organization of selling goods and
services as a means of distribution.
Vishal P
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4. The nature of retail marketing
The key aspects of retail marketing is
an attitude of mind.
 In making retail marketing decisions,
retailers must consider the needs of
the customers.
 Retail marketing decisions are driven
by what the shoppers need and want.
 Retail marketing is therefore a
philosophy and is all about satisfying
the customers

Vishal P
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5. The nature of retail marketing …
What the customers regard as value
and what they buy is decisive.
 What the customers buy determines
the nature of the retailer’s business.
 The essence of retail marketing is
developing merchandise and services
that satisfy specific needs of
customers, and supplying them at
prices that will yield profits.

Vishal P
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6. The nature of retail marketing
Retailers must take the customers’ needs
into consideration in retail operation.
 Retail marketing is stimulating, quickpaced, and influential.


It encompasses a wide range of activities
including:
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◦
◦
◦
Environmental analysis
Market research
Consumer analysis
Product planning etc.
Vishal P
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7. Importance of marketing in retailing
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Marketing is a vital tool for every retailer, as it
identifies current, unfulfilled needs and wants, which
it defines and quantifies.
Marketing determines which target groups the
retailer should serve.
Marketing could be seen as delivering an acceptable
standard of living.
Marketing can ensure complete satisfaction and
sustained customer loyalty.
Marketing depends on the efficient co-ordination of
consumer
prediction,
product
development,
packaging design and influencing demand through
appropriate communication medium.
From these, a suitable mix is achieved.
Saurabh
R
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8. Retail marketing objectives
The retail marketing objective is a performance
parameter which has been explicitly stated.

It can be stated in quantifiable terms and time
terms so that results can be measured against it.
Three types of retail objectives include:
1.
Basic objective – those which defines retailer’s
long-term purposes.
2.
Goals – those which the retailer must achieve to
be successful
3.
Targets – short-term goals that require immediate
achievement.

Saurabh
R
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9. Retail trade
Multiples
 Independents
 Co-operatives
 Mail order
 Variety stores
 Department stores

Yadnesh
P
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10. Multiples

Traditionally defined as enterprises with
over ten shops. Supermarkets and super
stores are clubbed together because they
constitute a type of outlet which
organizationally belongs to the classification
of multiples.
Yadnesh
P
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11. Independent
The independent retailers have been
reeling under the on slaught of the
multiples. The battle between the
multiples and the independents is over
with the context existing among the
multiples themselves.
 There are 3 more reasons for expecting
the continues survival of independents.
 Geography
 Market size
 Product characteristics

Yadnesh
P
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12. Co-operatives
There are 3 reasons of the erosim of
the co-operatives market share:1. Constraints on management arising
from ill-defined and non commercial
objectives.
2. Inability to attract
3. Retain good arrangement
4. Limited access to external capital

Yadnesh
P
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13. Mail Order
Mail Order prospered for 5 main
reasons :1. Convince of shopping from the
comfort of home.
2. The opportunity for agents to earn
extra income.
3. Easy credit
4. Wide product
5. Free delivery

Kunal P
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14. Variety stores
They sell a wide range of merchandise
traditionally displayed on counters for
solution by customers.
 The
strength of variety stores are
convenient location, width of choice, clarity
of display, competitive pricing own branding
and consistency.

Kunal P
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15. Department Stores

These are mature retailing organization with
origins in the 19th century. Unlike the cooperative they appeal to middle income
groups. Selling at least 5 types of
merchandise including moments wear on
department basis.
Kunal P
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16. Elements of retail management
Convenience.
 Variety of selection .
 Quality of production .
 Help from sales person.
 Reputation for integrity and fairness in
dealings.
 Services offered – delivery, credit,
returned-goods privileges.
 Value offered.

Jimly G
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17. Consumers prefer conveniently located stores,
either it should be close to their residence or
office or business place near other shopping
arcades.
 For upper middle class and middle class
consumers, parking lot for automobiles and two
wheelers are an essential consideration.
 Quality of products are essential features for
expansive products, weather garments ,
jewellery , personal products and clothing etc.
 The ―feel good’ ambience is specially important
for consumers with higher disposable income.

Jimly G
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18. 
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The attitude of sales person plays a
significant role in the retail business.
The retail stores display exclusive make or
manufacturer’s brand brand products and
consumers will visit those retail stores who
are known for their quality and service.
Some retail forms and outlets offer a wide
range of financial incentives like zero interest
installment scheme, bank financing and credit
card facilities.
Free delivery or home delivery, installation,
one year free service and returned goods
privileges are some of the additional
incentives which help the consumers to make
a purchase from a particular retailer.
Jimly G
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19. 5 Key Elements of a
Successful Retail Display
Product
Placeme
nt
Measured
Results
Elements
of Retail
display
Promotion
Props
Akshata
M
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20. Product
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Identify the purpose of your retail display. Of course you want
to sell more products—but first, get specific. Base your
purpose on your target market and clients’ needs.
You do not need to display all the items in your product line.
Narrow your focus to a few relevant choices. Limit yourself to
three or five products. Odd numbers are more appealing to
the eyes. Be sure to include a variety of price points.
Also feature testers and samples. Products that allow
interaction increase the opportunity for a sale because most
clients will not buy what they cannot try.
Akshata
M
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21. Placement

Map out the location of your retail
display. Dedicate your prime real
estate—generally to the right of the
entrance—to the featured display.
Most clients will look and walk to the
right when entering a room.
Akshata
M
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22. Props

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The most effective displays use the
80/20 rule of design: No more than 20%
of the display should be props. Let your
retail products be the stars and the
decorations be the supporting cast.
Select props that support the message
or theme of your display.
Props also can be used to add variety in
height, texture and color to your display,
which will draw attention to the products.
Give yourself permission to try different
arrangements of the products and props.
Akshata
M
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23. Promotion
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Don’t assume that simply creating a display will increase
sales. Plan your promotional strategy. Start by thoroughly
educating staff on the products and purpose of the retail
display.
The visual nature of a new retail display also makes it perfect
for promoting on Facebook. Post photos and share
information on the benefits of the products, and invite clients
to stop in to see the new display and sample the products.
Take advantage of online chatter to spread the word.
Akshata
M
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24. Measure results

The key indicator—and primary goal—of
your display is increased retail sales of
the featured products. Measure results
by tracking successful sales and the
characteristics
of
their
respective
displays so that you can repeat them in
the future. Other indicators of success
may be more subtle, but should not be
overlooked. Comments from clients—
online and in person—and time spent
interacting with the product are all
indicators that your display is producing
the desired result.
Akshata
M
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25. Strategic retail planning

This is the process of developing and
maintaining a strategic fit between the retail
organisation’s capabilities and its changing
marketing opportunities.
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It relies on developing a clear corporate
mission, supporting objectives, creating a
sound business portfolio, and coordinating
functional strategies.
Utpal B
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26. Case Study- Shoppers Stop
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About Shoppers Stop
Shoppers Stop is one of the first retail chains
started in india in 1991 by the Raheja Group. It
now boasts of 27 retail outlets across the country
and is one of India's largest retail chains, having
expanded from apparel and accessories to home
furnishings and books under the Home Stop and
Crossword Brands. Other Brands under the
Shoppers Stop umbrella are MotherCare, Desi
Cafe, Brio, Nuance, Arcelia, Timezone and
Hypercity.
Utpal B
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27. The Challenge
 Executives at the Shoppers Stop Group
noticed their sales falling into the 80:20
pattern with loyalty card customers despite
being only 15% of the base contributing over
70% of the revenues of Shoppers Stop.
 The Group realized that since they have data
on loyalty card holders, if they could
understand who the customer really is, what
she buys, when she buys and why, they may
be able to fine tune their offerings to provide
the customer a better experience and
increase their share of wallet.

Utpal B
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28. The solution
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Shoppers Stop conceptualized 'Project Drishti', a data warehouse
and mining project in 2007 and launched it in 2008 way ahead of
competition. The objective of the project was to streamline data
obtained from customers across all its stores and loyalty programs
and convert it into analytics that could be used for decision making.
Project Drishti led to the Group being able to identify and
understand their target segments across various stores and
programs and create meaningful targeted campaigns for their
bigger spenders. It also enabled the company to identify cases
where multiple stores in the same city were losing business to
each other instead of external competitors.
While the sales increase and customer base expansion achieved
by Shoppers Stop till date is important, what is most important is
the fact that Shoppers Stop has equipped itself with the weapon for
the future- "Customer Intelligence." Ad this weapon will keep it
ahead of competition till competitors do a catch up and build
Utpal B
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smarter intelligence.

29. THANK YOU
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