Need for Market Segmentation – Why Market Segmentation?
A set-up where two or more parties (also called buyers and sellers) are engaged in transaction of goods and services in exchange of money is called a market. At the market place the sellers sell their goods to the consumers (buyers) in exchange of money. Let us go through the following examples: Nokia offers wide […]
Product Leadership through Operational Excellence
In the fast changing and highly competitive world, building brands and maintaining brand leadership calls for an uncanny ability to re-write the rules of marketing as well as business. From each of the market leaders be it in computers, electronics, fashion, retail or any industry, one can identify the overall strategy that has made them […]
Broadening the Corporate Governance Agenda: The Corporate Social Responsibility
In recent years, there has been an increasing emphasis on governing corporations according to social and environmental norms and ensuring that the negative externalities associated with them are minimized. When we talk about negative externalities, what we mean are the social and environmental costs that corporations impose on society and which are not factored into […]
Role of Consumer Behaviour in Advertising
Marketers need to understand the buying behaviour of consumers while designing their advertisements for the desired impact. Advertisements play an essential role in creating an image of a product in the minds of consumers. Advertisements must be catchy and communicate relevant information to consumers. Understanding the needs of the consumer is really important when it […]
What is Social Media Marketing ? – Meaning and Important Concepts
We Humans are essentially social animals. Communication and interaction is vital for the Human society. People love to socialize and interact with one another. Internet technology has changed the way the people communicate. Gone are the days when one had to write a letter or book a telephone call to speak to a friend or […]
There are several factors which affect the buying decision of the customers. Let us go through them one by one:
The store display plays an important role in influencing the buying decision of the customers. It is the display of the store which attracts passing individuals into the store.
The store must have an attractive display to entice the customers. Shopping may be the last priority for an individual but a creative display encourages him to spend on shopping.
The store ambience plays an important role in attracting new customers and retaining existing ones.
Warm customer treatment is an effective way to pull the customers into the store. It is essential for the retailers to treat the customers like kings to expect loyalty from them.
A customer would never prefer shopping from a store which gives a cluttered look.
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Challenges to the Retail Sector (As per Michael Porter s Five Forces Model)
February 12, 2025
