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Factor affecting retail Shoppee
DEFINITION FOR RETAILING
Commodities offered for sale good business depends on having good merchandise "that
store offers a variety of products.
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
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.
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
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.
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.
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
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 ,
Consumer decision making process
5 stages
– Need recognized– Search for information– Evaluation alternatives– The purchase decision– Post-purchase behavior
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
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).
Search for information
Gather the information for solve the problemsuch as the Internet Media and TV Stores Family and friends
• 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.
Evaluating alternatives
• It can vary from person to person • Decision based on the situation
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
Post-purchase behaviour
Once the product is purchased and used, the consumer will evaluate the adequacy with his original.