{"id":237,"date":"2019-07-24T05:54:42","date_gmt":"2019-07-24T05:54:42","guid":{"rendered":"http:\/\/hsp15.epgpbooks.inflibnet.ac.in\/?post_type=chapter&#038;p=237"},"modified":"2019-07-24T06:09:18","modified_gmt":"2019-07-24T06:09:18","slug":"retail-marketing","status":"publish","type":"chapter","link":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/chapter\/retail-marketing\/","title":{"rendered":"Retail Marketing"},"content":{"raw":"<div><span style=\"float: right\"><a href=\"https:\/\/youtu.be\/ZDN9AeP8Epk\" target=\"_blank\" rel=\"noopener\"><img src=\"http:\/\/epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/2018\/11\/download.png\" alt=\"epgp books\" width=\"75px\" height=\"75px;\" \/><\/a>\r\n<\/span><\/div>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<div>\r\n<p style=\"text-align: justify\"><strong>\u00a0 1. INTRODUCTION<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\">India has occupied a remarkable position in global retail rankings. The country has high market potential, low economic risk, and moderate political risk. India\u2019s net retail sales are quite significant among emerging and developed nations. Among the emerging nations the country is ranked third after China and Brazil. The <em>Indian retail<\/em> sector is likely to grow at a CAGR of double digit and also accounts for double digit of GDP.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong>2. LEARNING OBJECTIVES<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\">At the end of this lesson you will be able to<\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify\">Analyse the identify various business functions of a retaile<\/li>\r\n \t<li style=\"text-align: justify\">Ascertain and appreciate the role of retailers in business promotion and role as touch point with customers<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify\">3.\u00a0<strong>RETAIL MARKETING<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\">Retail marketing is the process by which retailers promote awareness and interest of their goods and services in an effort to generate sales from their consumers. Retail is the sale of goods and services from businesses to an end user. The sale of goods is relatively in small quantities for use or consumption rather than for resale.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong>RETAILING<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\">It is the last link in the chain of distribution. Any organisation selling to final consumers-whether it is a manufacturer, wholesaler, or retailer-is doing a retailing. The <em>American<\/em> <em>Marketing Association <\/em>defines retailing as \u201cthe activities involved in selling directly to the ultimate consumer for personal and non-business use. It embraces direct-to-customer sales activities of the producer, whether through his own stores or by house-to-house canvassing or by mail-order business\u201d.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong>RETAILER<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\">The retailer is an intermediary in the marketing channels and is a specialist who maintains contact with the consumer and the producer and is an important connecting link in the mechanism of marketing. The word \u2018Retailer\u2019 had been derived from the French word\u00a0<span style=\"text-align: initial;font-size: 1em\">\u2018Re-tailer\u2019 which means \u2018to-cut again\u2019. It means to cut in small portions from large lumps of goods. A retailer is last middlemen in the chain of distribution of goods to consumers. He is a link between the wholesalers and the consumer.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Characteristics of Retailers<\/strong><\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer is the link between a wholesaler and the ultimate consumer and he is the last intermediary in distribution.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer buys goods from wholesaler in bulk and resells them to consumers in small quantities.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer maintains a personal contact with his customers.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer makes sufficient shop display of his wares to attract customers.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">Retailers perform all the marketing functions which a wholesaler performs and in addition emphasises on advertisement.<\/span><\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Functions of retailers<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Every retailer performs the following functions:<\/strong><\/p>\r\n\r\n<ol>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Buying: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer buys goods from a variety of wholesalers as he deals with a variety of merchandise. He buys the best, pays the most economical price, brings all the goods under one roof and displays them in shop. Thus retailer performs the twin functions of buying and assembling of goods.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Storage: <\/strong><span style=\"text-align: initial;font-size: 1em\">After assembling the goods, the retailer stores them in godown, held as reserve stocks for the future. It is necessary to store the goods in ready stock.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Selling: <\/strong><span style=\"text-align: initial;font-size: 1em\">The retailer employs efficient methods of selling to dispose off his products at a faster rate, in order to increase sales turnover in a period of time.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Risk-bearing: <\/strong><span style=\"text-align: initial;font-size: 1em\">The retailer bears the risk of physical damage of goods and price fluctuations. Moreover, risk of fire, theft, deterioration and spoilage of goods has also to be borne by him. Changes in fashions, tastes and demand of customers also have an\u00a0<\/span>adverse effect on sales. During the normal course of business the retailer bears all the trade risks.<\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Packing: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer repacks goods in small packets and containers before making sale. Occasionally, the retailers may be required to grade the goods.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Creating place utility<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers create place utility by transporting goods to the point of consumption.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Stocking Varieties of goods<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers buy varieties of goods from various manufacturers or wholesalers. Thus, a retailer provides a wide range of choice enabling the consumers to select the products of their choice.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Credit facilities to customers<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers grant credit facilities to consumers and thus increase their short-term purchasing power.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Providing information to customers and wholesalers<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers act as a link between the buyers and wholesalers and manufacturers. In the <\/span><a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/types-of-channels-of-distribution\/\">distribution channel,<\/a><span style=\"text-align: initial;font-size: 1em\"> retailers are in direct contact with customers. Retailers supply market information to manufacturers either directly or through wholesalers.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Estimating the demand and arranging the purchase of the product<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers create demand for products by communicating with their customers. This demand creation is quite helpful for manufacturers and wholesalers.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Acting as consumer\u2019s agent<\/strong><span style=\"text-align: initial;font-size: 1em\">: The retailers anticipate the wants of the consumers and then supply them the right kind of goods at a reasonable price. Their job is to make the consumer\u2019s buying as easy and convenient as possible.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Marketing functions<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers perform several marketing functions such as <\/span><a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/types-of-sales-promotion-strategies\/\">sales<\/a> <a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/types-of-sales-promotion-strategies\/\">promotion, <\/a><a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/advertising-and-promotion-strategies\/\">advertising <\/a><span style=\"text-align: initial;font-size: 1em\">and point of purchase display. They induce customers to buy products of reputed companies.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Connecting link<\/strong><span style=\"text-align: initial;font-size: 1em\">: The retailers are the connecting link between the wholesaler and the ultimate consumer.<\/span><\/li>\r\n<\/ol>\r\n<\/div>\r\n<div>\r\n<p style=\"text-align: justify\"><strong>Pre-Requisites of Retail Trade:<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong>The success of retail trade is based on a proper combination of the following factors:<\/strong><\/p>\r\n\r\n<ol>\r\n \t<li style=\"text-align: justify\"><strong>\u00a0<\/strong><strong>Location: <\/strong>The ultimate success of a retailer depends on the location of the shop. Proper selection of location is important for a retailer to establish his business.<\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Price: <\/strong><span style=\"text-align: initial;font-size: 1em\">A proper pricing policy can give better results for a retailer if he can combine low prices with good quality to attract consumers.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Sales Promotion: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer must arrange for proper sales promotion campaigns in order to familiarise the customers of that area with his products.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Prudent Buying Principles: <\/strong><span style=\"text-align: initial;font-size: 1em\">Every retailer ought to be a shrewd purchaser; only then he can give his best to his customers. Careful buying earns rich dividends in retail trade.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Knowledge of Merchandise: <\/strong><span style=\"text-align: initial;font-size: 1em\">Modern business is so complex and the variety and quality of goods being so diverse, a retailer must have adequate and latest knowledge of the wares he sells. It would not only enable him to answer customer queries satisfactorily but also to handle the complications of his business. Thus adequate knowledge of merchandise is another pre-requisite feature of retail trade.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Services: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer should concentrate on services. Courteous and prompt service on will help in attracting more and more customers and thereby flourish in business. Most retailers go in for after sale service also, where they cater to the needs of the customers after the latter has purchased a commodity from them. So efficient service should be the motto of every retailer.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Efficient Management: <\/strong><span style=\"text-align: initial;font-size: 1em\">Better planning, organisation and control by a retailer can offer efficient retail operations. A retailer should have a proper and adequate work-force to assist him in his business. He should always keep stocks ready for customers and even offer specialised comments on the products he deals in. If a retailer plans his inventories and works in advance, there is no doubt that he will achieve his targets and also attract more customers.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Display of Goods: <\/strong><span style=\"text-align: initial;font-size: 1em\">Since a retailer deals in a variety of products, he must display goods in a proper and orderly manner. This will enable him to get what is required by the customer\u00a0<\/span>quickly and also help in attracting customers. The retailer must go in for tastefully decorated interiors and also have proper and attractive window-dressing and display.<\/li>\r\n<\/ol>\r\n<p style=\"text-align: justify\">\u00a0 \u00a0 The goods must be neatly and orderly stocked and the pattern of window display should be frequently changed for the better, so as to attract the customers\u2019 eye. A retailer must not forget that a well laid out window display will help him to entice and attract customers from his rivals and competitors. Hence, proper care and attention ought to be given for display of goods out as well as in the retailer\u2019s shop or showroom.<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Types of Retailers<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">Retailers are mainly classified into Itinerant Retailers and Fixed Retailers.<\/span><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Itinerant Retailers<\/strong><\/p>\r\n\r\n<\/div>\r\n<div>\r\n<ul>\r\n \t<li><strong><em>Hawkers and Pedlars<\/em><\/strong><strong>:<\/strong><\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify\"><strong>A <\/strong>hawker is an individual who sells goods by carrying them through the streets. The person'sordinary methods of attracting attention include addressing the public , using placards, labels, andsigns, or displaying merchandise in a public place. A p eddler is defined as a retail dealer who bringsgoods from place to place, exhibiting them for sale.<\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify\"><strong><em>Cheap jacks<\/em><\/strong><strong>: <\/strong>One who sells <em>cheap<\/em> and second-rate goods.<\/li>\r\n \t<li style=\"text-align: justify\"><strong><em>Market traders <\/em><\/strong><strong>: <\/strong>A person who sells goods from a stall in a market<\/li>\r\n \t<li style=\"text-align: justify\"><strong><em>Street traders <\/em><\/strong><strong>: <\/strong>A person who sells something in the street, either from a stall or van or with their goods laid out on the pavement.<\/li>\r\n<\/ul>\r\n<p style=\"text-align: justify\"><strong>Fixed Retailers are further classified into Small-scale and Large-scale retailers<\/strong>.<strong> Small-scale retailers<\/strong><\/p>\r\n\r\n<ul>\r\n \t<li style=\"text-align: justify\"><strong>Street stall holders : <\/strong>A market stall is a typically immobile, temporary structure erected by merchants to display and shelter their merchandise in a street market or other setting. Stalls are used throughout the world by vendors selling street food.<\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Second hand goods dealers :<\/strong><span style=\"text-align: initial;font-size: 1em\">There are various types of second-hand shop, generally\u00a0specialising in\u00a0 a\u00a0\u00a0particular type of\u00a0\u00a0merchandise<\/span><\/li>\r\n \t<li><span style=\"font-size: 1em\">\u00a0<\/span><strong style=\"font-size: 1em\"> General\u00a0 shop\u00a0 :\u00a0<\/strong><span style=\"font-size: 1em\">A general\u00a0<\/span><span style=\"font-size: 1em\">store\u00a0\u00a0 is\u00a0 a\u00a0 rural\u00a0<\/span><span style=\"font-size: 1em\">or\u00a0 small\u00a0<\/span><span style=\"font-size: 14.4px\">\u00a0town store that\u00a0 carries\u00a0<\/span><span style=\"text-align: initial;font-size: 1em\">a general line of merchandise.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Independent stores : <\/strong><span style=\"text-align: initial;font-size: 1em\">An independent retailer is someone who is completely responsible for his or her own business.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Automatic\u00a0 vending:<\/strong><span style=\"text-align: initial;font-size: 1em\">\u00a0It is\u00a0 a\u00a0 way of\u00a0 selling\u00a0 merchandise throug\u00a0<\/span><span style=\"text-align: initial;font-size: 1em\">using vending machines.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Discount houses : <\/strong><span style=\"text-align: initial;font-size: 1em\">Low priced less fashionable branded products are offered by this store.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Syndicate stores : <\/strong><span style=\"text-align: initial;font-size: 1em\">A <\/span><em style=\"text-align: initial;font-size: 1em\">syndicate<\/em><span style=\"text-align: initial;font-size: 1em\"> is a self-organizing group of individuals and companies form a Conglomerate<\/span><\/li>\r\n<\/ul>\r\n<\/div>\r\n<div>\r\n<p style=\"text-align: justify\"><strong>Large scale retailers<\/strong><\/p>\r\n&nbsp;\r\n<ul>\r\n \t<li style=\"text-align: justify\"><strong>Departmental stores : <\/strong>A department store is a retail establishment offering a wide range of <strong>consumer goods.<\/strong> The department store offer products at various pricing levels and adds high levels of customer service along with convenience.<\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Multiple shops : <\/strong><span style=\"text-align: initial;font-size: 1em\">A retail <\/span><em style=\"text-align: initial;font-size: 1em\">shop<\/em><span style=\"text-align: initial;font-size: 1em\"> that has <\/span><em style=\"text-align: initial;font-size: 1em\">multiple<\/em><span style=\"text-align: initial;font-size: 1em\"> locations but has common ownership and management. This is often called a retail chain<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Mail order shops : <\/strong><span style=\"text-align: initial;font-size: 1em\">Mail order is the buying of goods or services by mail delivery.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Hire purchase and instalment <\/strong><span style=\"text-align: initial;font-size: 1em\">: A hire purchase is a method of buying goods through making instalment payments over time. Under a hire purchase contract, the buyer is leasing the goods and does not obtain ownership until the full amount of the contract is paid.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Co-operative stores : <\/strong><span style=\"text-align: initial;font-size: 1em\">These stores are owned and managed by consumer-customers who supply the capital and share in the profits by patronage dividends.<\/span><\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Super markets : <\/strong><span style=\"text-align: initial;font-size: 1em\">A self-service retail market selling especially foods and household\u00a0<\/span>merchandise. Supermarkets have significant buying power and therefore often retail goods at low prices.<\/li>\r\n \t<li><strong style=\"text-align: initial;font-size: 1em\">Hyper markets : It is a <\/strong><span style=\"text-align: initial;font-size: 1em\">superstore combining a supermarket and a department store with an expansive retail facility carrying a wide range of products under one roof.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">E-tailer <\/strong><span style=\"text-align: initial;font-size: 1em\">\u2013 Selling goods in on-line via the internet and\u00a0 products bought are delivered\u00a0<\/span>to the\u00a0 door step.<\/li>\r\n<\/ul>\r\n<\/div>\r\n<div>\r\n<p style=\"text-align: justify\"><strong>Services of Retailers<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\">Services provided by retailers\u00a0 to consumers and wholesalers are<\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong>Services to consumers:<\/strong><\/p>\r\n&nbsp;\r\n<ol>\r\n \t<li style=\"text-align: justify\"><strong>Ready or quick supply <\/strong>: to maintain regular availability of various products<\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"font-size: 1em\">Wide variety <\/strong><span style=\"font-size: 1em\">: keeps stock of a variety of products of different manufacturers<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"font-size: 1em\">Guiding customers <\/strong><span style=\"font-size: 1em\">: provide the information of products to the customers through display of products and personal selling.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"font-size: 1em\">After sales services <\/strong><span style=\"font-size: 1em\">:<\/span><strong style=\"font-size: 1em\"> Services <\/strong><span style=\"font-size: 1em\">includes free home delivery, supply of spare parts and attending to customers.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Home delivery <\/strong><span style=\"text-align: initial;font-size: 1em\">:\u00a0 An important aspect of after sale services .<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Convenient location <\/strong><span style=\"text-align: initial;font-size: 1em\">: Situated very near to the residential areas and remain open for long hours<\/span><\/li>\r\n<\/ol>\r\n<p style=\"text-align: justify\"><strong>Services to wholesalers and manufacturers :<\/strong><\/p>\r\n&nbsp;\r\n<ol>\r\n \t<li style=\"text-align: justify\"><strong>Ready market<\/strong>: Retailers deal with individuals so the manufacturers and wholesalers will not make individual sales.<\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Providing information <\/strong><span style=\"text-align: initial;font-size: 1em\">: By undertaking personal selling efforts retailers relieve the producers of this activity of individual selling.<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Risk bearing <\/strong><span style=\"text-align: initial;font-size: 1em\">: Less risk for the manufacturers as Retailers participates in the product promotional activities .<\/span><\/li>\r\n \t<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Distribution of goods to distant places <\/strong><span style=\"text-align: initial;font-size: 1em\">: Ensures distribution of goods to the final consumers and thus renders place utility.<\/span><\/li>\r\n<\/ol>\r\n<p style=\"text-align: justify\"><strong>Failure of Retail Business:<\/strong><\/p>\r\n&nbsp;\r\n<p style=\"text-align: justify\"><strong>A retail trade may fail due to the following reasons:<\/strong><\/p>\r\n\r\n<ul>\r\n \t<li>Limited resources<\/li>\r\n \t<li>No prior experience<\/li>\r\n \t<li>Fault in credit policy<\/li>\r\n \t<li>Unanticipated Change of customer\u2019s preference.<\/li>\r\n \t<li>Natural calamities<\/li>\r\n \t<li>Personal factors<\/li>\r\n \t<li>Unsuitable\u00a0 location of shop.<\/li>\r\n \t<li>Ineffective advertising and window display.<\/li>\r\n \t<li>Impolite and discourteous behaviour of retailer.<\/li>\r\n \t<li>Poor service .<\/li>\r\n \t<li>Stiff competition from rivals.<\/li>\r\n \t<li>Lack of foresight leading to faulty planning, organisation and control of the business.<\/li>\r\n \t<li>Financial crisis<\/li>\r\n \t<li>Unplanned spending .<\/li>\r\n<\/ul>\r\n<\/div>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td><strong>you can view video on Retail Marketing<\/strong><\/td>\r\n<td><a href=\"https:\/\/youtu.be\/ZDN9AeP8Epk\" target=\"_blank\" rel=\"noopener\"><img class=\"alignnone wp-image-120\" src=\"http:\/\/epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/2018\/11\/download.png\" alt=\"\" width=\"36\" height=\"36\" \/><\/a><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<strong>Web links<\/strong>\r\n<ul>\r\n \t<li>http:\/\/retail.economictimes.indiatimes.com\/news\/e-commerce\/e-tailing<\/li>\r\n \t<li><a href=\"http:\/\/www.rai.net.in\/\">http:\/\/www.rai.net.in<\/a><\/li>\r\n \t<li>https:\/\/www.ibef.org\/industry\/retail-india.aspx<\/li>\r\n<\/ul>","rendered":"<div><span style=\"float: right\"><a href=\"https:\/\/youtu.be\/ZDN9AeP8Epk\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"http:\/\/epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/2018\/11\/download.png\" alt=\"epgp books\" width=\"75px\" height=\"75px;\" \/><\/a><br \/>\n<\/span><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div>\n<p style=\"text-align: justify\"><strong>\u00a0 1. INTRODUCTION<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\">India has occupied a remarkable position in global retail rankings. The country has high market potential, low economic risk, and moderate political risk. India\u2019s net retail sales are quite significant among emerging and developed nations. Among the emerging nations the country is ranked third after China and Brazil. The <em>Indian retail<\/em> sector is likely to grow at a CAGR of double digit and also accounts for double digit of GDP.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong>2. LEARNING OBJECTIVES<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\">At the end of this lesson you will be able to<\/p>\n<ul>\n<li style=\"text-align: justify\">Analyse the identify various business functions of a retaile<\/li>\n<li style=\"text-align: justify\">Ascertain and appreciate the role of retailers in business promotion and role as touch point with customers<\/li>\n<\/ul>\n<p style=\"text-align: justify\">3.\u00a0<strong>RETAIL MARKETING<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\">Retail marketing is the process by which retailers promote awareness and interest of their goods and services in an effort to generate sales from their consumers. Retail is the sale of goods and services from businesses to an end user. The sale of goods is relatively in small quantities for use or consumption rather than for resale.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong>RETAILING<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\">It is the last link in the chain of distribution. Any organisation selling to final consumers-whether it is a manufacturer, wholesaler, or retailer-is doing a retailing. The <em>American<\/em> <em>Marketing Association <\/em>defines retailing as \u201cthe activities involved in selling directly to the ultimate consumer for personal and non-business use. It embraces direct-to-customer sales activities of the producer, whether through his own stores or by house-to-house canvassing or by mail-order business\u201d.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong>RETAILER<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\">The retailer is an intermediary in the marketing channels and is a specialist who maintains contact with the consumer and the producer and is an important connecting link in the mechanism of marketing. The word \u2018Retailer\u2019 had been derived from the French word\u00a0<span style=\"text-align: initial;font-size: 1em\">\u2018Re-tailer\u2019 which means \u2018to-cut again\u2019. It means to cut in small portions from large lumps of goods. A retailer is last middlemen in the chain of distribution of goods to consumers. He is a link between the wholesalers and the consumer.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Characteristics of Retailers<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer is the link between a wholesaler and the ultimate consumer and he is the last intermediary in distribution.<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer buys goods from wholesaler in bulk and resells them to consumers in small quantities.<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer maintains a personal contact with his customers.<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">A retailer makes sufficient shop display of his wares to attract customers.<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">Retailers perform all the marketing functions which a wholesaler performs and in addition emphasises on advertisement.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Functions of retailers<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Every retailer performs the following functions:<\/strong><\/p>\n<ol>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Buying: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer buys goods from a variety of wholesalers as he deals with a variety of merchandise. He buys the best, pays the most economical price, brings all the goods under one roof and displays them in shop. Thus retailer performs the twin functions of buying and assembling of goods.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Storage: <\/strong><span style=\"text-align: initial;font-size: 1em\">After assembling the goods, the retailer stores them in godown, held as reserve stocks for the future. It is necessary to store the goods in ready stock.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Selling: <\/strong><span style=\"text-align: initial;font-size: 1em\">The retailer employs efficient methods of selling to dispose off his products at a faster rate, in order to increase sales turnover in a period of time.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Risk-bearing: <\/strong><span style=\"text-align: initial;font-size: 1em\">The retailer bears the risk of physical damage of goods and price fluctuations. Moreover, risk of fire, theft, deterioration and spoilage of goods has also to be borne by him. Changes in fashions, tastes and demand of customers also have an\u00a0<\/span>adverse effect on sales. During the normal course of business the retailer bears all the trade risks.<\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Packing: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer repacks goods in small packets and containers before making sale. Occasionally, the retailers may be required to grade the goods.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Creating place utility<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers create place utility by transporting goods to the point of consumption.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Stocking Varieties of goods<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers buy varieties of goods from various manufacturers or wholesalers. Thus, a retailer provides a wide range of choice enabling the consumers to select the products of their choice.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Credit facilities to customers<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers grant credit facilities to consumers and thus increase their short-term purchasing power.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Providing information to customers and wholesalers<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers act as a link between the buyers and wholesalers and manufacturers. In the <\/span><a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/types-of-channels-of-distribution\/\">distribution channel,<\/a><span style=\"text-align: initial;font-size: 1em\"> retailers are in direct contact with customers. Retailers supply market information to manufacturers either directly or through wholesalers.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Estimating the demand and arranging the purchase of the product<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers create demand for products by communicating with their customers. This demand creation is quite helpful for manufacturers and wholesalers.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Acting as consumer\u2019s agent<\/strong><span style=\"text-align: initial;font-size: 1em\">: The retailers anticipate the wants of the consumers and then supply them the right kind of goods at a reasonable price. Their job is to make the consumer\u2019s buying as easy and convenient as possible.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Marketing functions<\/strong><span style=\"text-align: initial;font-size: 1em\">: Retailers perform several marketing functions such as <\/span><a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/types-of-sales-promotion-strategies\/\">sales<\/a> <a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/types-of-sales-promotion-strategies\/\">promotion, <\/a><a style=\"text-align: initial;font-size: 1em\" href=\"http:\/\/accountlearning.com\/advertising-and-promotion-strategies\/\">advertising <\/a><span style=\"text-align: initial;font-size: 1em\">and point of purchase display. They induce customers to buy products of reputed companies.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Connecting link<\/strong><span style=\"text-align: initial;font-size: 1em\">: The retailers are the connecting link between the wholesaler and the ultimate consumer.<\/span><\/li>\n<\/ol>\n<\/div>\n<div>\n<p style=\"text-align: justify\"><strong>Pre-Requisites of Retail Trade:<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong>The success of retail trade is based on a proper combination of the following factors:<\/strong><\/p>\n<ol>\n<li style=\"text-align: justify\"><strong>\u00a0<\/strong><strong>Location: <\/strong>The ultimate success of a retailer depends on the location of the shop. Proper selection of location is important for a retailer to establish his business.<\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Price: <\/strong><span style=\"text-align: initial;font-size: 1em\">A proper pricing policy can give better results for a retailer if he can combine low prices with good quality to attract consumers.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Sales Promotion: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer must arrange for proper sales promotion campaigns in order to familiarise the customers of that area with his products.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Prudent Buying Principles: <\/strong><span style=\"text-align: initial;font-size: 1em\">Every retailer ought to be a shrewd purchaser; only then he can give his best to his customers. Careful buying earns rich dividends in retail trade.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Knowledge of Merchandise: <\/strong><span style=\"text-align: initial;font-size: 1em\">Modern business is so complex and the variety and quality of goods being so diverse, a retailer must have adequate and latest knowledge of the wares he sells. It would not only enable him to answer customer queries satisfactorily but also to handle the complications of his business. Thus adequate knowledge of merchandise is another pre-requisite feature of retail trade.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Services: <\/strong><span style=\"text-align: initial;font-size: 1em\">A retailer should concentrate on services. Courteous and prompt service on will help in attracting more and more customers and thereby flourish in business. Most retailers go in for after sale service also, where they cater to the needs of the customers after the latter has purchased a commodity from them. So efficient service should be the motto of every retailer.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Efficient Management: <\/strong><span style=\"text-align: initial;font-size: 1em\">Better planning, organisation and control by a retailer can offer efficient retail operations. A retailer should have a proper and adequate work-force to assist him in his business. He should always keep stocks ready for customers and even offer specialised comments on the products he deals in. If a retailer plans his inventories and works in advance, there is no doubt that he will achieve his targets and also attract more customers.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Display of Goods: <\/strong><span style=\"text-align: initial;font-size: 1em\">Since a retailer deals in a variety of products, he must display goods in a proper and orderly manner. This will enable him to get what is required by the customer\u00a0<\/span>quickly and also help in attracting customers. The retailer must go in for tastefully decorated interiors and also have proper and attractive window-dressing and display.<\/li>\n<\/ol>\n<p style=\"text-align: justify\">\u00a0 \u00a0 The goods must be neatly and orderly stocked and the pattern of window display should be frequently changed for the better, so as to attract the customers\u2019 eye. A retailer must not forget that a well laid out window display will help him to entice and attract customers from his rivals and competitors. Hence, proper care and attention ought to be given for display of goods out as well as in the retailer\u2019s shop or showroom.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Types of Retailers<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><span style=\"text-align: initial;font-size: 1em\">Retailers are mainly classified into Itinerant Retailers and Fixed Retailers.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Itinerant Retailers<\/strong><\/p>\n<\/div>\n<div>\n<ul>\n<li><strong><em>Hawkers and Pedlars<\/em><\/strong><strong>:<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>A <\/strong>hawker is an individual who sells goods by carrying them through the streets. The person&#8217;sordinary methods of attracting attention include addressing the public , using placards, labels, andsigns, or displaying merchandise in a public place. A p eddler is defined as a retail dealer who bringsgoods from place to place, exhibiting them for sale.<\/p>\n<ul>\n<li style=\"text-align: justify\"><strong><em>Cheap jacks<\/em><\/strong><strong>: <\/strong>One who sells <em>cheap<\/em> and second-rate goods.<\/li>\n<li style=\"text-align: justify\"><strong><em>Market traders <\/em><\/strong><strong>: <\/strong>A person who sells goods from a stall in a market<\/li>\n<li style=\"text-align: justify\"><strong><em>Street traders <\/em><\/strong><strong>: <\/strong>A person who sells something in the street, either from a stall or van or with their goods laid out on the pavement.<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Fixed Retailers are further classified into Small-scale and Large-scale retailers<\/strong>.<strong> Small-scale retailers<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify\"><strong>Street stall holders : <\/strong>A market stall is a typically immobile, temporary structure erected by merchants to display and shelter their merchandise in a street market or other setting. Stalls are used throughout the world by vendors selling street food.<\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Second hand goods dealers :<\/strong><span style=\"text-align: initial;font-size: 1em\">There are various types of second-hand shop, generally\u00a0specialising in\u00a0 a\u00a0\u00a0particular type of\u00a0\u00a0merchandise<\/span><\/li>\n<li><span style=\"font-size: 1em\">\u00a0<\/span><strong style=\"font-size: 1em\"> General\u00a0 shop\u00a0 :\u00a0<\/strong><span style=\"font-size: 1em\">A general\u00a0<\/span><span style=\"font-size: 1em\">store\u00a0\u00a0 is\u00a0 a\u00a0 rural\u00a0<\/span><span style=\"font-size: 1em\">or\u00a0 small\u00a0<\/span><span style=\"font-size: 14.4px\">\u00a0town store that\u00a0 carries\u00a0<\/span><span style=\"text-align: initial;font-size: 1em\">a general line of merchandise.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Independent stores : <\/strong><span style=\"text-align: initial;font-size: 1em\">An independent retailer is someone who is completely responsible for his or her own business.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Automatic\u00a0 vending:<\/strong><span style=\"text-align: initial;font-size: 1em\">\u00a0It is\u00a0 a\u00a0 way of\u00a0 selling\u00a0 merchandise throug\u00a0<\/span><span style=\"text-align: initial;font-size: 1em\">using vending machines.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Discount houses : <\/strong><span style=\"text-align: initial;font-size: 1em\">Low priced less fashionable branded products are offered by this store.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Syndicate stores : <\/strong><span style=\"text-align: initial;font-size: 1em\">A <\/span><em style=\"text-align: initial;font-size: 1em\">syndicate<\/em><span style=\"text-align: initial;font-size: 1em\"> is a self-organizing group of individuals and companies form a Conglomerate<\/span><\/li>\n<\/ul>\n<\/div>\n<div>\n<p style=\"text-align: justify\"><strong>Large scale retailers<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"text-align: justify\"><strong>Departmental stores : <\/strong>A department store is a retail establishment offering a wide range of <strong>consumer goods.<\/strong> The department store offer products at various pricing levels and adds high levels of customer service along with convenience.<\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Multiple shops : <\/strong><span style=\"text-align: initial;font-size: 1em\">A retail <\/span><em style=\"text-align: initial;font-size: 1em\">shop<\/em><span style=\"text-align: initial;font-size: 1em\"> that has <\/span><em style=\"text-align: initial;font-size: 1em\">multiple<\/em><span style=\"text-align: initial;font-size: 1em\"> locations but has common ownership and management. This is often called a retail chain<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Mail order shops : <\/strong><span style=\"text-align: initial;font-size: 1em\">Mail order is the buying of goods or services by mail delivery.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Hire purchase and instalment <\/strong><span style=\"text-align: initial;font-size: 1em\">: A hire purchase is a method of buying goods through making instalment payments over time. Under a hire purchase contract, the buyer is leasing the goods and does not obtain ownership until the full amount of the contract is paid.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Co-operative stores : <\/strong><span style=\"text-align: initial;font-size: 1em\">These stores are owned and managed by consumer-customers who supply the capital and share in the profits by patronage dividends.<\/span><\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Super markets : <\/strong><span style=\"text-align: initial;font-size: 1em\">A self-service retail market selling especially foods and household\u00a0<\/span>merchandise. Supermarkets have significant buying power and therefore often retail goods at low prices.<\/li>\n<li><strong style=\"text-align: initial;font-size: 1em\">Hyper markets : It is a <\/strong><span style=\"text-align: initial;font-size: 1em\">superstore combining a supermarket and a department store with an expansive retail facility carrying a wide range of products under one roof.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">E-tailer <\/strong><span style=\"text-align: initial;font-size: 1em\">\u2013 Selling goods in on-line via the internet and\u00a0 products bought are delivered\u00a0<\/span>to the\u00a0 door step.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p style=\"text-align: justify\"><strong>Services of Retailers<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\">Services provided by retailers\u00a0 to consumers and wholesalers are<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong>Services to consumers:<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li style=\"text-align: justify\"><strong>Ready or quick supply <\/strong>: to maintain regular availability of various products<\/li>\n<li style=\"text-align: justify\"><strong style=\"font-size: 1em\">Wide variety <\/strong><span style=\"font-size: 1em\">: keeps stock of a variety of products of different manufacturers<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"font-size: 1em\">Guiding customers <\/strong><span style=\"font-size: 1em\">: provide the information of products to the customers through display of products and personal selling.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"font-size: 1em\">After sales services <\/strong><span style=\"font-size: 1em\">:<\/span><strong style=\"font-size: 1em\"> Services <\/strong><span style=\"font-size: 1em\">includes free home delivery, supply of spare parts and attending to customers.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Home delivery <\/strong><span style=\"text-align: initial;font-size: 1em\">:\u00a0 An important aspect of after sale services .<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Convenient location <\/strong><span style=\"text-align: initial;font-size: 1em\">: Situated very near to the residential areas and remain open for long hours<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify\"><strong>Services to wholesalers and manufacturers :<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li style=\"text-align: justify\"><strong>Ready market<\/strong>: Retailers deal with individuals so the manufacturers and wholesalers will not make individual sales.<\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Providing information <\/strong><span style=\"text-align: initial;font-size: 1em\">: By undertaking personal selling efforts retailers relieve the producers of this activity of individual selling.<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Risk bearing <\/strong><span style=\"text-align: initial;font-size: 1em\">: Less risk for the manufacturers as Retailers participates in the product promotional activities .<\/span><\/li>\n<li style=\"text-align: justify\"><strong style=\"text-align: initial;font-size: 1em\">Distribution of goods to distant places <\/strong><span style=\"text-align: initial;font-size: 1em\">: Ensures distribution of goods to the final consumers and thus renders place utility.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify\"><strong>Failure of Retail Business:<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify\"><strong>A retail trade may fail due to the following reasons:<\/strong><\/p>\n<ul>\n<li>Limited resources<\/li>\n<li>No prior experience<\/li>\n<li>Fault in credit policy<\/li>\n<li>Unanticipated Change of customer\u2019s preference.<\/li>\n<li>Natural calamities<\/li>\n<li>Personal factors<\/li>\n<li>Unsuitable\u00a0 location of shop.<\/li>\n<li>Ineffective advertising and window display.<\/li>\n<li>Impolite and discourteous behaviour of retailer.<\/li>\n<li>Poor service .<\/li>\n<li>Stiff competition from rivals.<\/li>\n<li>Lack of foresight leading to faulty planning, organisation and control of the business.<\/li>\n<li>Financial crisis<\/li>\n<li>Unplanned spending .<\/li>\n<\/ul>\n<\/div>\n<table>\n<tbody>\n<tr>\n<td><strong>you can view video on Retail Marketing<\/strong><\/td>\n<td><a href=\"https:\/\/youtu.be\/ZDN9AeP8Epk\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-120\" src=\"http:\/\/epgpbooks.inflibnet.ac.in\/wp-content\/uploads\/2018\/11\/download.png\" alt=\"\" width=\"36\" height=\"36\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Web links<\/strong><\/p>\n<ul>\n<li>http:\/\/retail.economictimes.indiatimes.com\/news\/e-commerce\/e-tailing<\/li>\n<li><a href=\"http:\/\/www.rai.net.in\/\">http:\/\/www.rai.net.in<\/a><\/li>\n<li>https:\/\/www.ibef.org\/industry\/retail-india.aspx<\/li>\n<\/ul>\n","protected":false},"author":8,"menu_order":31,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":["dr-p-santhi"],"pb_section_license":""},"chapter-type":[],"contributor":[64],"license":[],"class_list":["post-237","chapter","type-chapter","status-publish","hentry","contributor-dr-p-santhi"],"part":3,"_links":{"self":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/chapters\/237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/wp\/v2\/users\/8"}],"version-history":[{"count":5,"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/chapters\/237\/revisions"}],"predecessor-version":[{"id":242,"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/chapters\/237\/revisions\/242"}],"part":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/parts\/3"}],"metadata":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/chapters\/237\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/wp\/v2\/media?parent=237"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/pressbooks\/v2\/chapter-type?post=237"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/wp\/v2\/contributor?post=237"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/ebooks.inflibnet.ac.in\/hsp15\/wp-json\/wp\/v2\/license?post=237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}