Retail mix, wholesale club, hypermarket, globalization, information technology
Retailing is one of the fastest growing sectors in India and as such it is attracting considerable interest because of its potential to contribute to the economic development of the country. A lot of professionalism is now evident in the sector for acquiring, maintaining and retaining the customers. In fact, many industrial houses have entered in to the retailing with twin objectives. One of the objectives is to provide superior service to the customers for building brand loyalty for which intermediaries may not be so effective. Another reason is to reap the superior profit in the terminal market. But retailing is not as easy as one may perceive it to be. Effective retailing requires a large amount of effort to be put in. This article highlights the importance of retailing, its scope and types, retail mix and retail marketing strategy for a successful endeavour. The article also focuses on the negative and positive impact of information technology on retailing.
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