How do you conduct your store marketing? Do you work with many products and don’t know how to promote them? Have you tried everything but are not getting results? That is precisely why you need to understand what retail marketing is , and how this strategy can help boost your sales !
To begin with, you need to understand that the region where your store is located, as well as the type of product you sell and the price you charge determine who your target audience will be .
Other factors that influence it are the way in which it displays products, such as organizing the showcase and even the ambient music and the perfume of the store. All of these elements, and some more, need to be balanced, communicating a message that is consistent with what you want to convey to your target audience.
For you to better understand how it all works in practice, we have prepared this article, where we will talk about what retail marketing is , what is its function and its main advantages .
After all, what is retail marketing?
It is important to note that retail marketing is not very different from traditional marketing . Like this one, it is a set of strategies used to promote and sell products in the retail sector , in a B2C modality , that is, when a store sells directly to the final consumer .
In this logic, elements such as product quality , attractive and promotional prices , personalized service , among other strategies are used as a differential to increase the perception of value of consumers in relation to products and, thus, sell more and improve the positioning store in the market .
What is retail marketing for? What is your function?
To better understand what retail marketing is, it is interesting to understand its function and what is its difference from traditional marketing. For that, nothing better than practical examples, right?
The main difference is that when it comes to B2C commerce , that is, when the sale is made to the end consumer, the store often has to deal with a wide variety of products .
If we think of a carpet factory, for example, we soon realize that its marketing will only need to worry about promoting and selling a single type of product in a B2B market .
On the other hand, when thinking about a department store, we soon realized that it sells various types of products , from kitchen utensils to office supplies. We agree that the approach to selling a bowl will certainly be different from that used to sell a stapler, do you agree?
With that, we can see that retail marketing has its peculiarities, requiring different advertising strategies , which take into account the type, variety and quantity of products that a store has to offer.
The 4 Ps of Marketing and retail
When we talk about what retail marketing is, it is impossible not to mention the 4P’s of marketing : product, price, place and promotion. These are some of the main elements that define and guide the performance of a marketing strategy . Check briefly what each one refers to:
• Product : what do you sell? It refers to the characteristics of the product, considering the type, variety and quantity of what is sold by a store.
• Price : How much does what you sell cost? It is related to how much a store charges for what it sells. A fundamental element in defining the target audience, it has a great impact on the perception of the product’s value.
• Plaza : where do you sell? It is related to the location of the point of sale and the access of consumers to products, which also has a great influence on the definition of the target audience.
• Promotion : How do you sell? It concerns the way in which the brand is promoted, as is the communication and exposure of the product, which may include different channels, both in terms of sales and advertising.
The analysis and definition of these elements is directly responsible for the way a brand positions itself , that is, it influences the way it communicates, the standard of service within stores, the style of exhibiting its products, etc.
Bearing in mind that what retail marketing seeks is to promote and sell products, differentiating one store from another, taking into account aspects such as the 4Ps of Marketing can be a good strategy to achieve competitive differentials .
What are the advantages of retail marketing?
When done well, retail marketing tends to generate many benefits for the company that applies it, among them are:
• establishes a positive and attractive image for the brand in the market;
• increases brand visibility;
• attracts the attention of consumers;
• increases the number of sales;
• contributes to customer loyalty;
• increases the company’s profitability;
• conquers space in the market, surpassing the competition;
Now that you know what retail marketing is, it should have become clearer the importance and the advantages of investing in this type of strategy. Analyzing the market based on the type of product you sell can be a great way to make decisions and plan your actions.
It is clear that technology can greatly contribute to the success of these practices, allowing, for example, adherence to an omnichannel service model , further enhancing its results.