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At its most basic level, a retail format is a simple marketplace, that is; a location where goods and services are exchanged. In some parts of the world, the retail sector is still dominated by small family-run stores, but large retail chains are increasingly dominating the sector, because they can exert considerable buying power and pass on ...
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.
Location-based service (LBS) is a general term denoting software services which use geographic data and information to provide services or information to users. [1] LBS can be used in a variety of contexts, such as health, indoor object search, [2] entertainment, [3] work, personal life, etc. [4] Commonly used examples of location-based services include navigation software, social networking ...
Retail promotions that focus on the store tend to be ‘image’ oriented, raising awareness of the store and creating a positive attitude towards the store and its services. Retail promotions that focus on the product range, are designed to cultivate a positive attitude to the brands stocked by the store, in order to indirectly encourage ...
The Nielsen definition, published in 1992, was prescient for its time in that customizing product offerings on a store by store basis is logistically difficult and is now not considered a necessary part of category management; it is a concept now referred to as micromarketing. Nevertheless, most grocery retailers will segment stores at least by ...
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. It is able to show what the company is intended to accomplish within the budget and also makes it possible for company executives to assess potential return on the investment of marketing dollars.
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Positioning is part of the broader marketing strategy which includes three basic decision levels, namely segmentation, targeting and positioning, sometimes known as the S-T-P approach: Segmentation : refers to the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of ...