1. Begin your analysis with a proper introduction. Your introduction will descri
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Question
1. Begin your analysis with a proper introduction. Your introduction will describe both retailing and the retail marketing strategy. Within your introduction, explore the importance of the retailing industry as well as how retailing changed over the last five years.
2. Next, select a retail store that you frequently shop at (grocery stores can be used).
3. In your analysis paper, identify your retail store and provide a brief background about this establishment. Note: when developing an analysis paper, you should never assume that the reader is familiar with your subject matter).
4. Within the body of your analysis, explore the following concepts:
- Identify who the target market is for this retailer and explain why you fit into that segment.
- Identify the ownership, level of service, product assortment and price structure for this retailer.
- Next, explain how this retailer utilizes the retailing marketing mix to attract the target market.
- Does this retailer have an Internet site? Do you visit this site? Does it add value? How?
- Finally, the wheel of retailing describes how establishments change overtime.
- Where does this establishment fall on the wheel? Since you have been shopping at this establishment (Passage of Time) have you noticed an evolution for this establishment. Explain your rationale.
- Thinking about the retail life cycle, where does this establishment currently fall? Has there been movement in the cycle since you have been shopping at this establishment or has it always maintained its current place within the cycle. Why do you believe this is the case?
5. Conclude your paper with insights you gained from this analysis.
Explanation / Answer
1.Retailing:
Retailing is the process of selling products and services to customers for their personal or family use.
Retail marketing strategy:
Retail marketing can be done through averstisements,social media marketing, blogs,posters,campaigns by creating a separate website for the company,by creating a facebook page
Importance of retailing:
Retailing is important because it is the final link between the manufacturers and customers.Retailers add value to the product by makling it easier for manufacutrers to sell and consumers to buy.
Retailers also provide services required for customers like salespeople to answer the customer questions
Retailers should make the purchase of good easy for the customers so that they can retain their market
Retailing over five years:
Advances in technology like internet have helped in making the retailing field more challenging and exciting in recent years
The nature of business and the marketing are undergoing changes.They have changed their marketing strategies through social media ,digital marketing etc
Onlline retailing have gained more advantage in recent years than physical stores
2.Amazon is the retail store i frequently shop
3.Amazon is the choice of my retail store.
Background establishment:
Amazon is the largest online retailer in the world according to total sales and market captilization.At first amazon was started in 1994 and founded by jeft bezos as a online bookstore later they diversified their products such a clothing,household,electronics,accessoriesetc
They are headquatered in washington and they have their presence worldwide
The company didnot make profit for initial four to five years later their slowly started to grow and acquired huge number of customers
4.Target market for amazon:
The target market for amazon is they concentrate on customers who use their internet mainly.They have huge number of custmers only in online shopping.
They have a wide variety of products for all range of customers so their target is from young to old age people globally
Their website is also user friendly so that even illiterate can do online shopping so they target on all class of customers
I fit into that segment because their website is user friendly to use and they have wide variety of products available with choices to it is easy to shop by sitting at one place rather than going to a store.Their also offer some discounts at festivals seasons and they deliver the products for free
- Ownership -Jeft bezos is the founder and also they have shareholders to tak eof the company
level of service:Their service is t0o good and satisfactory to the customes.They have salespeople department for delivering the products.If the product or service is not satisfied then they attend to customers queries and resolve them within 2-3 days.This shows their level of commitment to service .The products can also be returned if they are not of good quality
-Product assortment:
Their product assortment is the key for their success.They have wide variety of products even at low prices They have products that are available for all aged people from young to old ,for all class of people .They have products like electronics,accessories,cosmetics,household,clothing etc
Price structure:They offer products at low price also to attract customers of all class.They offer discounts at festival seasons .The prices are affordable and the quality is also good.They make changes in prices daily ie everyday pricing strategy is followed
Retailing marketing mix:
The target their audience by advertisements through television about their products and create awareness to customers.
They also market through social media by creating a separate facebook page for their products
They also do campaigns through ads or social media and offer special gifts to the winners
They provide discounts on festival seasons this is one of their main marketing strategy to attract customers
-Yes,amazon is the largest online retailer so they obviously have a separate website posting their products for sale.I have visited this site and purchased lot of products frequently .Th site adds value to customers because it is user friendly and also it shows comparison about various products in the same site itself so that it would be easy for us to make choices and buy the product
Wheel of retailing:
Yes they have shown a great evolution in the wheel of retailing from a low margins products into diverse products with high margins.
They have also penetrated globally and made their presence .
Their entry phase was just a online book store but now they have got diversified products
Initially they were not successful but later their market share goes high and they ahve acquired as the largest online retailer in the world
The threats from competitors are also faced by them yet they stand number one with their marketing strategies to retain customers
In the retail life cycle They have developed from initial stage and now they are in the saturated state because they are the number one online retailer now.i have seen a enormous groowth of amazon in recent years because their customer base has increased and they are also planning to start more physical stores .So in retail life cycle they have moved from one stage to another in years to become successful
5. Amazon has a greater market share in E-commerce industry and also they have successfully gained huge customer base and this is their success.If they start more number of physical stores also then it will add to their customer base and they can become successfull in online as well as a physical retail store
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