Retail Marketing (retail development) Essay Example | Topics and Well Written Essays - 3250 words

Retail Marketing (retail development) - Essay Example This is the process of matching the personal requirements of consumers and the product from the producers. Retailers break the bulk for the consumers. On the other hand, one stop shopping is a concept that allows a collection of products to consumers at one location. The ideology behind this kind of retail development is to ensure convenience for customers since their needs are usually varied. It's also beneficial to the business as it will be able to sell more. A retailer is an agency, a person, or an institution that is influential or very active in ensuring that merchandise or products are available to the final consumer (Kaufman 2006). Retailers often carry out critical tasks that ensure the products are attractive to the clients and that they fulfil the need that they are intended for. By this, the retailers are able to anticipate the needs of the clients, develop a variety of products, collect market information and obtain financial support (Thorne & Mackey 2007). There is a common assumption that retailing involves the selling of products in stores. This is partly true as the phenomenon also includes the selling of services like in a beauty parlour, car rental and restaurants. One very important function of retailing is providing a variety of products at one place for the clients. ... One-stop shopping has developed rapidly due to the changing societal needs to save time, find convenience and minimize movement (Kaufman 2006). The contemporary society now finds this trend conducive with the current lifestyle since shoppers are able to fulfil most of their need at once in one place. This therefore means that an appropriate assortment of products is a must and that the desirable mix of stores has to be collected together at one convenient spot (Samli 2003). One-stop shopping is associated directly with the number of hours people spend in stores shopping The use of a product's best characteristics within the promotions in the market is still very appropriate but it's evident that due to competition and the needs of clients, something more than just market campaign has to be done (Thorne & Mackey 2007). The service industry has been spearheading the changes and has become the primary criteria that clients use to determine where to shop. Better service will keep the clients coming back. The tendency has naturally developed and influenced the product stores to adopt offering a variety of goods and services under one umbrella (Kaufman 2006). This benefits the customers and sellers. The location of a business unit is critical. Producers usually consider different factors before they can decide on where to locate their premises for stores. Some of them include market availability, factors of production and security. Retailers base their location of demand, supply and store image factors. The number of operation units is usually very high in a one stop shopping centre. This is so that the centre can be able to meet the demand and cover a wide geographical area (Thorne & Mackey 2007) In a shopping centre, retailer