Retail Marketing Research Paper

Retail Marketing Research Paper-85
Consumer perceptions of store images, however, are very time related.Store images can change significantly over time due to changing retailer strategies, new competitive entries or other exogenous market variables.

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RETAILING: THE STRATEGIC MARKETING PROBLEM The basic strategic marketing problem confronting the retailer centers around the classic issue of market positioning.The retailer's strategic objective is to develop an integrated marketing program encompassing a wide range of marketing elements to create a market position within his competitive environment.To establish a market position, the retailer strives to develop store personality or image.You must keep up with fast-moving retail and consumer trends – multichannel, omni-channel, online and mobile. ABSTRACT - Monitoring of the local retail market competitive structure for the retailer's particular product category and the retailer's position and store image within that competitive milieu is essential to the retailer's strategic planning.The store image should be analytically defined and designed to appeal to and be compatible with the store's target customers.The store image is the product of a set of components or attributes that are important in determining customer patronage within a particular retailing competitive market.[For representative and significant literature and industry trade practice reviews, see Wyckham, Lazar and Crissy (1971), Lindquist (1974-1975), May (1974-1975) and Ring (1977).] [Several leading research oriented retailers have made impressive progress in adapting this store image research tradition to their specific proprietary image monitoring needs.] The Concept of Local Retail Market Monitoring Local retail market monitoring, as advocated here, is intended to produce a comprehensive analysis of the basic competitive retail market structure for a particular product category over time.The monitoring system must measure the retailer's historical and current market position and store image perceptions among its target customers.Even under heavy strategic focus, the fashion image of a retailer may be an extremely stable, difficult to change dimension of retail patronage.The critical question is, how is the retailer's store image actually perceived by the target customers compared with the firm's competitors in the local market over time?

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