Marketing decisions
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The document discusses marketing decisions for retailers, including switching target markets from inexpensive jewelry to higher margin products which resulted in a retailer like Zales losing its traditional customers without gaining new ones. It also touches on topics like demand forecasting, merchandise selection, inventory management, using RFID systems and advanced analytics for procurement. Additionally, it suggests retailers offer a wide array of quality products at affordable prices, reward loyal customers, run promotional schemes, and invest in technology, as well as focus on services, store atmosphere, and in-store activities and experiences.
Marketing decisions
- 1. Marketing Decision for Retailers
- 4. Switch target markets by replacing inexpensive jewellery with high margin product Result - Zales lost it’s traditional customers without gaining any new ones
- 5. CHANNELS
- 7. PROCUREMENT • Demand Forecasting • Merchandise selection • Inventory Management • RFID systems • Advanced Analytics
- 9. • Offers wide array of products • Quality product at affordable price • Reward for loyal customers • Runs regular promotional schemes • Investment in technology
- 11. Other Factors • Services • Store atmosphere • Store activities and experiences
- 13. Created by: Mohd Wasil IIT Delhi During Internship by Sameer Mathur, IIM Lucknow