facter affecting retail shopee in the market
TRANSCRIPT
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Factor affecting retail Shoppee
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DEFINITION FOR RETAILING
Commodities offered for sale good business depends on having good merchandise "that
store offers a variety of products.
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TYPES
• 5 types– Range of merchandise– Convenience of shopping at a particular outlet– Time to travel– Socio-economic factor– The stage of the family life cycle
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Range of merchandise
Convert retail shopper to buyer depends on the quality and offers by the store
Eg:Products in kannan departmental store Vs Krishna departmental store.
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Convenience of shopping at a particular outlet
the element of convenience is Fast gaining prominence in the world of organised retail.
EG:while buying medicines, most patients
would prefers to buy from the chemists near the doctor’s clinic or near the hospital
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Time to travel
The time required to reach a particular retail location is again fast becoming critical. This is especially true in case of metros like Mumbai, where travel time is high. Eg:
In the Chennai, there travel time is high , so they prefer to buy the store near to their place.
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Socio-economic factor
Consumer buying behavior various from market to market and largely influence by the culture of the region
Eg:Asian culture is very different from western
culture. The need hierarchy is different for each market .the need that the retailer can fulfil needs to be clearly understood by him.
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Indicators 1991-92 1996-97 2006-07
Life expectancy male female
57.758.7
60.1061.10
66.1067.10
Death rate 10.0 8.7 7.4
Birth Rate 28.9 25.72 21.7
Electricity rural urban
27 75
5080
8095
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Stages of the family life cycle
The life cycle is based on their needs and wants
Eg:The needs of the young bachelor will be
different from the needs of a family with children in their teens ,
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Consumer decision making process
5 stages
– Need recognized– Search for information– Evaluation alternatives– The purchase decision– Post-purchase behavior
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Need recognized
Consumer become aware of the needy products by advertisement and newspaper.
• classifications are used• Internal stimuli (physiological need felt by the
individual as hunger or thirst) which opposes the external stimuli such as exposure to an advertisement, the sight of a pretty dress in a shop window
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EXAMPLE:• It’s Sunday night. You’re hungry (internal
physiological stimuli) and there is nothing in the fridge. You will order food (statement of need).
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Search for information
Gather the information for solve the problemsuch as the Internet Media and TV Stores Family and friends
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• Internal information: this information is already present in the consumer’s memory.
• External information: This is information on a product or brand received from and obtained by friends or family, by reviews from other consumers or from the press.
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Evaluating alternatives
• It can vary from person to person • Decision based on the situation
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Purchase decision
His decision will depend on the information and the selection made in the previous step based on the
perceived value, product’s features and capabilities
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Post-purchase behaviour
Once the product is purchased and used, the consumer will evaluate the adequacy with his original.
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