Question

QUE 1a// Briefly explain the four factors for establishing a relationship with retailers (i) choosing retailing partners (ii) identifying types of retailers (iii) developing a retail strategy (iv) managing an ominchannel strategy .

   1b)How does marketers develpos a retail strategy using the 4ps (i) product (ii) price (iii) promotion (iv) place

   1c) Explain the following of benefits of stores for consumers. (i)browsing (ii) touching and feeling products (iii) personal service (iv) cash and credit payment (v) Entertainment and social experience (v) immediate gratification (v) risk reduction

   1d) Explain the following effective ominichannel retailing (i) integrated relationship management (ii) brand image (iii) pricing (iv) supply chain .

Answer 1

Q. 1a) Four factors while establishing a relationship with retailers :-

i) Choosing retailing partners :-

Selecting a place to sell the products is very important factor. Choosing the location where the customers can find the products very easily and conveniently. Also, in this factor manufacturer also checks how a retailer carries the goods. Sales depends on maximum on the location and the manufacturer needs to choose it carefully.

ii) Identifying types of retailers :-

This factor determines the type of retailer needed for the manufacturer. They needs to identify what type of retailer would carry the products carefully and appropriately. Manufacturers may have less choices of retailers and may also have more no. of choices as per the type products.

iii) Developing a retail strategy :-

The retail strategy can be developed with the help of 4P's such as Product, Price, Promotion and Place. This strategy is developed by both manufacturer and retailer. The strategy must be developed in such a way so that both the manufacturer and retailer gets benefitted.

iv) Managing an omnichannel strategy :-

This strategy is used to improve the customer experience. It involves selling the products in many channels such as internet or retail shop etc. The circumstances becomes different to choose the strategy for adoption. If the strategy worked, the it can give heavy profit as there are multiple channels opened.

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