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Local store marketing (LSM), also known as "neighborhood marketing," or simply "local marketing, [1]" is a marketing strategy that targets consumers/customers within a radius around a physical location with marketing messages tailored to the local populace. Tactics can be varied but are differentiated by the localization of the marketing message.
Retail stores often seek to differentiate along customer service lines. For example, some department stores offer the services of a stylist; a fashion advisor, to assist customers selecting a fashionable wardrobe for the forthcoming season, while smaller boutiques may allow regular customers to take goods home on approval, enabling the customer ...
A supermarket is a self-service store consisting mainly of grocery and limited products on non-food items. [29] They may adopt a Hi-Lo or an EDLP strategy for pricing. The supermarkets can be anywhere between 20,000 square feet (1,900 m 2) and 40,000 square feet (3,700 m 2). An example is a SPAR supermarket.
Services marketing is a specialized branch of marketing which emerged as a separate field of study in the early 1980s, following the recognition that the unique characteristics of services required different strategies compared with the marketing of physical goods.
With location-based service, surveys can take place in the real world, in real time, rather than in halls, in a focus group facility, or on a PC. Mobile survey can be integrated with a marketing campaign; the results of customer satisfaction research can be used iteratively to guide the next campaign.
A marketing strategy effectively outlines all key aspects of firms' targeted audience, demographics, preferences. In a highly competitive market, the retail strategy sets up long-term sustainability. It focuses on customer relationships, stressing the importance of added value, customer satisfaction and highlights how the store's market ...
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Community marketing is a strategy to engage an audience in an active, non-intrusive prospect and customer conversation. Whereas marketing communication strategies such as advertising, promotion, PR, and sales all focus on attaining customers, Community Marketing focuses on the needs of existing customers. This accomplishes four things for a ...