the retail market is affected by certain facters, discuss about that

1. Factor affecting retail Shoppee

2. DEFINITION FOR RETAILING
Commodities offered for sale good business
depends on having good merchandise "that
store offers a variety of products.

3. TYPES
• 5 types
– Range of merchandise
– Convenience of shopping at a particular outlet
– Time to travel
– Socio-economic factor
– The stage of the family life cycle

4. Range of merchandise
Convert retail shopper to buyer depends
on the quality and offers by the store
Eg:
Products in kannan departmental store Vs
Krishna departmental store.

5. Convenience of shopping at a
particular outlet
the element of convenience is Fast gaining
prominence in the world of organised retail.
EG:
while buying medicines, most patients
would prefers to buy from the chemists near the
doctor’s clinic or near the hospital

6. Time to travel
The time required to reach a particular
retail location is again fast becoming critical. This
is especially true in case of metros like Mumbai,
where travel time is high.
Eg:
In the Chennai, there travel time is high ,
so they prefer to buy the store near to their
place.

7. Socio-economic factor
Consumer buying behavior various
from market to market and largely influence by
the culture of the region
Eg:
Asian culture is very different from
western culture. The need hierarchy is different
for each market .the need that the retailer can
fulfil needs to be clearly understood by him.

8. Indicators 1991-92 1996-97 2006-07
Life expectancy male
female
57.7
58.7
60.10
61.10
66.10
67.10
Death rate 10.0 8.7 7.4
Birth Rate 28.9 25.72 21.7
Electricity
rural
urban
27
75
50
80
80
95

9. Stages of the family life cycle
The life cycle is based on their needs and
wants
Eg:
The needs of the young bachelor will be
different from the needs of a family with
children in their teens ,

10. Consumer decision making process
5 stages
– Need recognized
– Search for information
– Evaluation alternatives
– The purchase decision
– Post-purchase behavior

11. Need recognized
Consumer become aware of the needy
products by advertisement and newspaper.
• classifications are used
• Internal stimuli (physiological need felt by the
individual as hunger or thirst) which opposes
the external stimuli such as exposure to an
advertisement, the sight of a pretty dress in a
shop window

12. EXAMPLE:
• It’s Sunday night. You’re hungry (internal
physiological stimuli) and there is nothing in
the fridge. You will order food (statement of
need).

13. Search for information
Gather the information for solve the problem
such as the
 Internet
 Media and TV
 Stores
 Family and friends

14. • Internal information: this information is
already present in the consumer’s memory.
• External information: This is information on a
product or brand received from and obtained
by friends or family, by reviews from other
consumers or from the press.

15. Evaluating alternatives
• It can vary from person to person
• Decision based on the situation

16. Purchase decision
His decision will depend on the
information and the selection made in the
previous step based on the
perceived value,
 product’s features and
 capabilities

17. Post-purchase behaviour
Once the product is purchased and used, the
consumer will evaluate the adequacy with his
original.