Description
this project has focus only on the 6P's of retail marketing.
the images used in the project are snaps taken in
E- ZONE by myself.
RETAIL MARKETING
PROJECT BY:-
NIKHIL GAUTAM LADE
RETAIL MARKETING MIX
Retail marketing mix is the term used to describe the various elements and methods required to formulate and execute retail marketing strategy. Retail managers must determine the optimum mix of retail activities and co-ordinate the elements of the mix. The aim of such co-ordination is for each store to have a distinct retail image in consumers mind. The mix may vary greatly according to the type of market the retailer is in, and the type of product/services.
ELEMENTS IN RETAIL MARKETINGMIX
RETAIL MARKRTING MIX CONSISTS OF BASIC SIX P S. THESE SIX P S ARE AS FOLLOWS
RODUCT MIX
PRICE MIX
PLACE MIX
PROMOTION MIX
PEOPLE MIX
PRESENTATION MIX
PRODUCT MIX
The retailer has the job of taking decision as to which products has to kept in the shop and which products can be avoided. The strategic decisions happen at the product length and product width across a particular product category. The retailer has to decide what length and width of the product should be available in the store. The product mix deals with:y PRODUCT DESIGN y FEATURES y BRAND NAME y MODELS y PRODUCT QUALITY y SERVICE (pre-sales & after sales, charges)
DIFFERENT ELEMENTS OF PRODUCT
PRICE MIX
While deciding the price of the product, the retailer has to consider what sort of discounts has to be offered on what type of products. This is basically determined by the elasticity of the product and the prices offered by the competing retailers. Another aspect of price mix is to play price mix as an instrument for shifting the demand from the peak time to non-peak time. After deciding the pricing decisions the retailer has to decide how to determine:y y y y y y
PAYMENT PERIOD ALLOWANCE SEASONAL ALLOWANCE PRICE FLEXIBILITY CASH & EARLY PAYMENTS DISCOUNTS CREDIT TERMS
Whatever your price may be, ultimately it must cover your costs, contribute to your image by communicating the perceived value of your product, counter the competition s offer, and avoid deadly price wars. Remember, price is the one P that generates revenue, while the other three P s incur costs. Effective pricing is important to the success of your business.
PLACE MIX
Place mix relates to choosing a store location. Choosing store location is a major activity (decision) area in retailing. It is important in all respect of all types of retail chains, though the criteria may vary from case to case. In general terms, it can be said that the under-mentioned three attributes are important to all retail locations. y ATTRACTIVENESS y CONVENIENCE y PROXIMITY
Obviously, it is from the standpoint of the customer that the location must meet the criteria of attractiveness, convenience, and proximity. The retailer has to keep in mind about his catchment area while locating the store. The retailer has to consider following points while taking decisions for location of the store:y AREA S PROPENSITY TO SPEND y SOCIAL STRUCTURE OF THE AREA y ANALYSIS SUCH AS a) Catchment area analysis b) Competitive analysis c) Adjoining business analysis d) Infrastructure analysis e) Traffic analysis
PROMOTION MIX
Promotion refers to the advertising and selling part of marketing. It is how you let people know what you ve got for sale. The purpose of promotion is to get people to understand what your product is, what they can use it for, and why they should want it. You want the customers who are looking for a product to know that your product satisfies their needs. To be effective, your promotional efforts should contain a clear message targeted to a specific audience reached via an appropriate channel. Your target audience will be the people who use or influence the purchase of your product. A retailer should focus on market research efforts to identify these people. Your message must be consistent with your overall marketing image, get your target audience s attention, and elicit the response you desire, whether it is to purchase your product or to form an opinion. The channel you select for your message will likely involve use of a few key marketing channels. Promotion may involve
advertising, public relations, personal selling, and sales promotions.
Mix Element Advertising Advantages Good for building awareness Effective at reaching a wide audience Repetition of main brand and product positioning helps build customer trust Highly interactive - lots of communication between the buyer and seller Excellent for communicating complex / detailed product information and features Disadvantages Impersonal - cannot answer a customer's all questions Not good at getting customers to make a final purchasing decision
Personal Selling
Costly - employing a sales force has many hidden costs in addition to wages Not suitable if there are thousands of important buyers
Sales Promotion
Relationships can be built up important if closing the sale make take a long time Can stimulate quick increases in If used over the long-term, sales by targeting promotional customers may get used to the incentives on particular products effect Good short term tactical tool Too much promotion may damage the brand image Risk of losing control - cannot always control what other people write or say about your product
Public Relations
Often seen as more "credible" since the message seems to be coming from a third party (e.g. magazine, newspaper) Cheap way of reaching many customers - if the publicity is achieved through the right media
PEOPLE MIX
People mix relates to the elements considering the staff in the store. Staff working under any retailer plays an important role between customer s willingness to buy and actual sale. Parameters such as conversion ratio, feedbacks, time spent by customer in the shop, etc. are dependent on the staff working in the store. The staff can be skilled staff or un-skilled staff. Skilled staff is required for doing technical works. Quality of customer interaction is maintained through hiring skilled staff. Example: a skilled person with technical knowledge is required in an electronic store. Un-skilled staff is used where there is no requirement of any technical issues. Example: an unskilled person is kept for cleaning purpose in any store or for movement of goods from one place to another.
The main elements in people mix are as follows:i. ii. iii. iv. v. vi. Staff capability Efficiency Availability Effectiveness Customer interaction Internal marketing
PRESENTATION MIX
Presentation mix considers the presentation and ambience of the shop. Your store could offer the best products available at unbeatable prices, but you won't make a single sale unless you get people in the door. This is why a store's design and atmosphere is important to the success of a business. In order to survive in a world of bigname chain retailers, your business must be visually appealing from the inside as well as the outside.
Presentation mix includes arrangement of products in the shop and atmosphere in the shop. There should be right product at right place. The products should in such a way that it will provide convenience to both customer and the retailer. Right atmosphere can be created by considering few points:y Proper utilization of space y Designing the store according to our target customers y Playing the right music y Avoiding aisles from crowding
DEVELOPING A RETAIL MARKETING MIX FOR AN UPCOMING ELECTRONIC STORE
Starting your own electronics store is a good way to go into business for yourself whether you start a franchise business or create your own independent electronics store name. You should also set personal and business goals for your electronics store as these are important for having success. Developing all six P s of retail marketing can make the store to achieve its goal.
PLATINUM ELECTRONICS WILL PROVIDE LARGE VARIETY OF ELECTRONIC PRODUCTS AND ACCESSORIES UNDER ONE ROOF. CUSTOMER CAN SELECT HIS DESIRED PRODUCT FROM WIDE RANGE OF BRANDS IN THIS 2500SQ.FT ONE STOP SHOP. PLATINUM ELECTRONICS WILL PROVIDE BEST PRICES AND BEST AFTER SALES SERVICE ON ALL ELECTRONICS ITEMS. ASSURED GIFT ON EVERY PURCHASE WILL BE PROVIDED ONLY BY PLATINUM ELECTRONICS.* WIDE RANGE OF ACCESSORIES OF MOBILE PHONES, COMPUTERS, TELIVISION SETS, WASHING MACHINES, HOME-THEATRE SYSTEMS, REFRIGERATORS, CAMERAS WILL BE AVAILABLE UNDER ONE ROOF ONLY AT PLATINUM ELECTRONICS.
THE RETAIL MARKETING MIX AT :
PLATINUM ELECTRONICS
PRODUCT MIX PLATINUM ELECTRONICS WILL PROVIDE WIDE RANGE OF ELECTRONIC PRODUCTS OF VARIOUS BRANDS. THE ELECTRONICS ITEMS SOLD HERE WILL BE
SONY, SAMSUNG, VIDEOCON, PANASONIC, 1. TELEVISION ONIDA, L.G.,PHILIPS) i. CRT TV - FLAT,CONVENTIONAL ii. LED TV - 22 , 32 , 40 , 42 ,46 iii. LCD TV - 22 ,26 ,32 ,40 ,47 ,52 iv. PLASMA TV - 42 , 50 , 60 , 63 . 2. HOME THEATRE (SONY,PHILIPS,VIDEOCON,ONIDA) i. DVD PLAYERS ii. PORTABLE SYSTEMS iii. HI FI COMPONENT SYSTEM 3. AIR CONDITIONER (L.G.,VIDEOCON,HITACHI,SAMSUNG,ONIDA,CARRIER,VOLTAS) i. WINDOW ii. SPLIT 4. WASHING MACHINE (WHIRLPOOL,ONIDA,L.G.,SAMSUNG) i. SEMI-AUTOMATIC ii. FULLY-AUTOMATIC
5. REFRIGERATOR (WHIRLPOOL,L.G.,SAMSUNG,VIDEOCON) i. SINGLE DOOR ii. FROST FREE 2 DOOR/3DOOR 6. COMPUTERS (ACER, DELL, LENOVA, VAIO, SAMSUNG, L.G.,COMPAQ,HP,CANON) i. LAPTOPS ii. DESKTOPS iii. PRINTERS 7. CAMERA (SONY, OLYMPUS,NIKON,SAMSUNG) i. VIDEO CAMERA ii. STILL CAMERA 8. GAMES (SONY,XBOX,NINTENDO) i. WITH BLU-RAY ii. WITHOUT BLU-RAY 9. MOBILE PHONES (NOKIA,SAMSUNG,L.G.,SONY,MICROMAX,MAX,LAVA, BLACKBERRY, VIRGIN) i. GSM ii. CDMA 10. MP3 & I pods (SONY, PHILIPS, APPLE) i. ii. iii. iv. 2GB SHUFFLE 4GB SHUFFLE 8GB SHUFFLE 12GB SHUFFLE
11. MICROWAVE (ONIDA, L.G., WHIRLPOOL, KENSTAR, SAMSUNG) i. ii. GRILL CONVENTION
PRICE MIX
THE PRICING STRATEGY WILL BE ATTRACTIVE TO THE CUSTOMER. THE PRICES WILL BE DISPLAYED WITHOUT ROUNDING UP THE FIGURE. FOR EG: - AN APPLE i-POD COSTING Rs.5000/- WILL BE DISPLAYED AS Rs.4990/-. ALTHOUGH THE PRICE IS Rs.5000/- , THE CONSUMER MAY MENTALLY PLACE THE PRODUCT IN THE PRICE BRAND OF Rs.4000/-. THE PRICE TAG WILL SHOW THE COMPARISION BETWEEN M.R.P. AND
PLATINUM ELECTRONICS s PRICE.
THE STORE PRICE WILL BE COMPARITIVE LOWER THAN THE MARKET PRICE. SEASONAL DISCOUNTS WILL BE ALLOWED ON OCCASIONS LIKE DIWALI, DUSSEHRA, GUDI-PADWA, INDEPENDENCE DAY, CHRISTMAS. PAYMENT OPTIONS WILL BE CASH, CHEQUE (only for EMI), CREDITCARDS. EMI OPTION WILL BE AVAILABLE ONLY FOR PRODUCTS RANGING FROM Rs.7500 AND MORE AT 0% INTEREST. BUT MINIMUM DOWNPAYMENT OF 15% OF THE PRICE OF PRODUCT WILL BE COMPULOSRY TO BE MADE IN CASH. DISCOUNT WILL BE ALLOWED ON FULL CASH PAYMENT. ASSURED GIFT ON EVERY PURCHASE (>Rs.500) WILL BE PROVIDED.*
PLACE MIX
PLATINUM ELECTRONICS WILL BE LOCATED NEAR GURUDEV HOTEL, STATION ROAD, KALYAN (WEST). REASON FOR LOCATING PLATINUM ELECTRONICS AT THIS
LOCATION IS BECAUSE OF PRE-PRESENCE OF OTHER ELECTRONICS STORE. MOREOVER THERE IS NO SUCH ELECTRONIC STORE OF HUGE SPACE. THIS WILL DEFINITELY ATTRACT THE CUSTOMERS TO OUR SHOP. THIS LOCATION IS ALSO FAVOURABLE FROM THE PONIT IF PHYSICAL DISTRIBUTION. IT IS WELL CONNECTED TO HIGHWAY AND RAILWAY STATION IS ALSO NEARBY. THIS LOCATION IS APPROPRIATE FOR TRANSPORTATION, WAREHOUSING, ORDER PROCESSING, MANAGING INVENTORY LEVELS. VARIOUS EDUCATIONAL INSTITUTES ARE ALSO NEARBY WHICH WILL ADD POSITIVE FACTOR TO THE SHOP. THE TEEN AGE GROUP WILL BE ATTRACTED FOR PURCHASE OF ACCESORIES LIKE MUSIC CD S, GAMING DVD S, MOBILE AND i-POD ACCESSORIES.
PROMOTION MIX
PROMOTIONAL ACTIVITIES WILL BE AT THEIR PEAK DURING INTRODUCTION STAGE AND DURING THE SEASONAL OFFERS. THE CUSTOMERS WILL BE INFORMED ABOUT THE PRODUCTS IN THE SHOP BY DISTRIBUTION OF PAMPLETS THROUGH CITY NEWSPAPERS AND MAGAZINES. ADVERTISEMENT WILL ALSO BE DONE THROUGH LOCAL CABLE CHANNELS IN VIDEO FORM AND ON SCROLLS. NEWSPAPERS WILL ALSO BE USED FOR ADVERTISEMENT. ADVERTISEMENT WILL BE DONE IN LOCAL NEWS LEAFLET.
PEOPLE MIX
THE STAFF IN PLATINUM ELECTRONICS WILL BE DIVIDED IN TWO TYPES. 1. SKILLED STAFF THEY WILL BE EMPLOYED FOR INTERACTING WITH THE CUSTOMERS. IT WILL HELP TO UNDERSTAND THE CUSTOMER S WANTS AND THEN PROVIDE WITH APPROPRIATE PRODUCT ASSISTANCE. THEY WILL PROVE TO BE HELPFULL FOR ASSISTING ANY CUSTOMER WITH ANY TECHNICAL PROBLEMS. 2. UNSKILLED STAFF THEY WILL BE EMPLOYED FOR OTHER ACTIVITIES SUCH AS HELPER, CLEANER, DELIVERING GOODS, ETC.
PRESENTATION MIX
PRESENTATION IN THE SHOP WILL BE ATTRACTIVE FOR CREATING THE RIGHT ATMOSPHERE FOR SHOPPING. SOFT MUSIC WILL BE PLAYED FOR THIS PURPOSE ALSO THE COLOUR OF THE WALLS WILL BE LIGHT. PROPER UTILIZATION OF THE PILLARS AND WALLS WILL BE DONE FOR DISPLAY OF PRODUCTS. ACCESSORIES LIKE LAPTOP BAGS AND EARPHONES WILL BE HANGED ON THE PILLARS.
SEPARATE SECTIONS OF DIFFERENT PRODUCTS WILL BE THERE WHICH WILL HELP FOR PROPER DISPLAY OF EACH AND EVERY PRODUCT OF DIFFERENT VARIANTS.
TELEVISIONS AND MUSIC SYSTEMS WILL BE DISPLAYED ON THE WALLS. SECTIONS OF LAPTOPS, MICROWAVE, WASHING MACHINES, REFRIGERATORS, ETC WILL BE SEPARATED BY THE AISLES. PROPER SPACING WILL BE THERE FOR AVOIDIND CROWDING IN THE AISLES.
MUSIC CD S, GAMING CD S, BLANK CD S, DIFFERENT CHORDS, PEN DRIVES, COMPUTER COVERS, MOUSE PADS, MEMORY CARDS, MOBILE ACCESSORIES, ETC. WILL BE KEPT IN ACCESSORIES SECTION NEAR THE CASH COUNTER. POSTERS OF NEWLY LAUNCHED PRODUCTS WILL BE DISPLAYED INSIDE AS WELL AS OUTSIDE THE SHOP FOR CREATING AWARENESS ABOUT THESE PRODUCTS.
doc_425441611.docx
this project has focus only on the 6P's of retail marketing.
the images used in the project are snaps taken in
E- ZONE by myself.
RETAIL MARKETING
PROJECT BY:-
NIKHIL GAUTAM LADE
RETAIL MARKETING MIX
Retail marketing mix is the term used to describe the various elements and methods required to formulate and execute retail marketing strategy. Retail managers must determine the optimum mix of retail activities and co-ordinate the elements of the mix. The aim of such co-ordination is for each store to have a distinct retail image in consumers mind. The mix may vary greatly according to the type of market the retailer is in, and the type of product/services.
ELEMENTS IN RETAIL MARKETINGMIX
RETAIL MARKRTING MIX CONSISTS OF BASIC SIX P S. THESE SIX P S ARE AS FOLLOWS
RODUCT MIXPRICE MIX
PLACE MIX
PROMOTION MIX
PEOPLE MIX
PRESENTATION MIX
PRODUCT MIX
The retailer has the job of taking decision as to which products has to kept in the shop and which products can be avoided. The strategic decisions happen at the product length and product width across a particular product category. The retailer has to decide what length and width of the product should be available in the store. The product mix deals with:y PRODUCT DESIGN y FEATURES y BRAND NAME y MODELS y PRODUCT QUALITY y SERVICE (pre-sales & after sales, charges)
DIFFERENT ELEMENTS OF PRODUCT
PRICE MIX
While deciding the price of the product, the retailer has to consider what sort of discounts has to be offered on what type of products. This is basically determined by the elasticity of the product and the prices offered by the competing retailers. Another aspect of price mix is to play price mix as an instrument for shifting the demand from the peak time to non-peak time. After deciding the pricing decisions the retailer has to decide how to determine:y y y y y y
PAYMENT PERIOD ALLOWANCE SEASONAL ALLOWANCE PRICE FLEXIBILITY CASH & EARLY PAYMENTS DISCOUNTS CREDIT TERMS
Whatever your price may be, ultimately it must cover your costs, contribute to your image by communicating the perceived value of your product, counter the competition s offer, and avoid deadly price wars. Remember, price is the one P that generates revenue, while the other three P s incur costs. Effective pricing is important to the success of your business.
PLACE MIX
Place mix relates to choosing a store location. Choosing store location is a major activity (decision) area in retailing. It is important in all respect of all types of retail chains, though the criteria may vary from case to case. In general terms, it can be said that the under-mentioned three attributes are important to all retail locations. y ATTRACTIVENESS y CONVENIENCE y PROXIMITY
Obviously, it is from the standpoint of the customer that the location must meet the criteria of attractiveness, convenience, and proximity. The retailer has to keep in mind about his catchment area while locating the store. The retailer has to consider following points while taking decisions for location of the store:y AREA S PROPENSITY TO SPEND y SOCIAL STRUCTURE OF THE AREA y ANALYSIS SUCH AS a) Catchment area analysis b) Competitive analysis c) Adjoining business analysis d) Infrastructure analysis e) Traffic analysis
PROMOTION MIX
Promotion refers to the advertising and selling part of marketing. It is how you let people know what you ve got for sale. The purpose of promotion is to get people to understand what your product is, what they can use it for, and why they should want it. You want the customers who are looking for a product to know that your product satisfies their needs. To be effective, your promotional efforts should contain a clear message targeted to a specific audience reached via an appropriate channel. Your target audience will be the people who use or influence the purchase of your product. A retailer should focus on market research efforts to identify these people. Your message must be consistent with your overall marketing image, get your target audience s attention, and elicit the response you desire, whether it is to purchase your product or to form an opinion. The channel you select for your message will likely involve use of a few key marketing channels. Promotion may involve
advertising, public relations, personal selling, and sales promotions.
Mix Element Advertising Advantages Good for building awareness Effective at reaching a wide audience Repetition of main brand and product positioning helps build customer trust Highly interactive - lots of communication between the buyer and seller Excellent for communicating complex / detailed product information and features Disadvantages Impersonal - cannot answer a customer's all questions Not good at getting customers to make a final purchasing decision
Personal Selling
Costly - employing a sales force has many hidden costs in addition to wages Not suitable if there are thousands of important buyers
Sales Promotion
Relationships can be built up important if closing the sale make take a long time Can stimulate quick increases in If used over the long-term, sales by targeting promotional customers may get used to the incentives on particular products effect Good short term tactical tool Too much promotion may damage the brand image Risk of losing control - cannot always control what other people write or say about your product
Public Relations
Often seen as more "credible" since the message seems to be coming from a third party (e.g. magazine, newspaper) Cheap way of reaching many customers - if the publicity is achieved through the right media
PEOPLE MIX
People mix relates to the elements considering the staff in the store. Staff working under any retailer plays an important role between customer s willingness to buy and actual sale. Parameters such as conversion ratio, feedbacks, time spent by customer in the shop, etc. are dependent on the staff working in the store. The staff can be skilled staff or un-skilled staff. Skilled staff is required for doing technical works. Quality of customer interaction is maintained through hiring skilled staff. Example: a skilled person with technical knowledge is required in an electronic store. Un-skilled staff is used where there is no requirement of any technical issues. Example: an unskilled person is kept for cleaning purpose in any store or for movement of goods from one place to another.
The main elements in people mix are as follows:i. ii. iii. iv. v. vi. Staff capability Efficiency Availability Effectiveness Customer interaction Internal marketing
PRESENTATION MIX
Presentation mix considers the presentation and ambience of the shop. Your store could offer the best products available at unbeatable prices, but you won't make a single sale unless you get people in the door. This is why a store's design and atmosphere is important to the success of a business. In order to survive in a world of bigname chain retailers, your business must be visually appealing from the inside as well as the outside.
Presentation mix includes arrangement of products in the shop and atmosphere in the shop. There should be right product at right place. The products should in such a way that it will provide convenience to both customer and the retailer. Right atmosphere can be created by considering few points:y Proper utilization of space y Designing the store according to our target customers y Playing the right music y Avoiding aisles from crowding
DEVELOPING A RETAIL MARKETING MIX FOR AN UPCOMING ELECTRONIC STORE
Starting your own electronics store is a good way to go into business for yourself whether you start a franchise business or create your own independent electronics store name. You should also set personal and business goals for your electronics store as these are important for having success. Developing all six P s of retail marketing can make the store to achieve its goal.
PLATINUM ELECTRONICS WILL PROVIDE LARGE VARIETY OF ELECTRONIC PRODUCTS AND ACCESSORIES UNDER ONE ROOF. CUSTOMER CAN SELECT HIS DESIRED PRODUCT FROM WIDE RANGE OF BRANDS IN THIS 2500SQ.FT ONE STOP SHOP. PLATINUM ELECTRONICS WILL PROVIDE BEST PRICES AND BEST AFTER SALES SERVICE ON ALL ELECTRONICS ITEMS. ASSURED GIFT ON EVERY PURCHASE WILL BE PROVIDED ONLY BY PLATINUM ELECTRONICS.* WIDE RANGE OF ACCESSORIES OF MOBILE PHONES, COMPUTERS, TELIVISION SETS, WASHING MACHINES, HOME-THEATRE SYSTEMS, REFRIGERATORS, CAMERAS WILL BE AVAILABLE UNDER ONE ROOF ONLY AT PLATINUM ELECTRONICS.
THE RETAIL MARKETING MIX AT :
PLATINUM ELECTRONICS
PRODUCT MIX PLATINUM ELECTRONICS WILL PROVIDE WIDE RANGE OF ELECTRONIC PRODUCTS OF VARIOUS BRANDS. THE ELECTRONICS ITEMS SOLD HERE WILL BE
SONY, SAMSUNG, VIDEOCON, PANASONIC, 1. TELEVISION ONIDA, L.G.,PHILIPS) i. CRT TV - FLAT,CONVENTIONAL ii. LED TV - 22 , 32 , 40 , 42 ,46 iii. LCD TV - 22 ,26 ,32 ,40 ,47 ,52 iv. PLASMA TV - 42 , 50 , 60 , 63 . 2. HOME THEATRE (SONY,PHILIPS,VIDEOCON,ONIDA) i. DVD PLAYERS ii. PORTABLE SYSTEMS iii. HI FI COMPONENT SYSTEM 3. AIR CONDITIONER (L.G.,VIDEOCON,HITACHI,SAMSUNG,ONIDA,CARRIER,VOLTAS) i. WINDOW ii. SPLIT 4. WASHING MACHINE (WHIRLPOOL,ONIDA,L.G.,SAMSUNG) i. SEMI-AUTOMATIC ii. FULLY-AUTOMATIC5. REFRIGERATOR (WHIRLPOOL,L.G.,SAMSUNG,VIDEOCON) i. SINGLE DOOR ii. FROST FREE 2 DOOR/3DOOR 6. COMPUTERS (ACER, DELL, LENOVA, VAIO, SAMSUNG, L.G.,COMPAQ,HP,CANON) i. LAPTOPS ii. DESKTOPS iii. PRINTERS 7. CAMERA (SONY, OLYMPUS,NIKON,SAMSUNG) i. VIDEO CAMERA ii. STILL CAMERA 8. GAMES (SONY,XBOX,NINTENDO) i. WITH BLU-RAY ii. WITHOUT BLU-RAY 9. MOBILE PHONES (NOKIA,SAMSUNG,L.G.,SONY,MICROMAX,MAX,LAVA, BLACKBERRY, VIRGIN) i. GSM ii. CDMA 10. MP3 & I pods (SONY, PHILIPS, APPLE) i. ii. iii. iv. 2GB SHUFFLE 4GB SHUFFLE 8GB SHUFFLE 12GB SHUFFLE
11. MICROWAVE (ONIDA, L.G., WHIRLPOOL, KENSTAR, SAMSUNG) i. ii. GRILL CONVENTION
PRICE MIX
THE PRICING STRATEGY WILL BE ATTRACTIVE TO THE CUSTOMER. THE PRICES WILL BE DISPLAYED WITHOUT ROUNDING UP THE FIGURE. FOR EG: - AN APPLE i-POD COSTING Rs.5000/- WILL BE DISPLAYED AS Rs.4990/-. ALTHOUGH THE PRICE IS Rs.5000/- , THE CONSUMER MAY MENTALLY PLACE THE PRODUCT IN THE PRICE BRAND OF Rs.4000/-. THE PRICE TAG WILL SHOW THE COMPARISION BETWEEN M.R.P. AND
PLATINUM ELECTRONICS s PRICE.
THE STORE PRICE WILL BE COMPARITIVE LOWER THAN THE MARKET PRICE. SEASONAL DISCOUNTS WILL BE ALLOWED ON OCCASIONS LIKE DIWALI, DUSSEHRA, GUDI-PADWA, INDEPENDENCE DAY, CHRISTMAS. PAYMENT OPTIONS WILL BE CASH, CHEQUE (only for EMI), CREDITCARDS. EMI OPTION WILL BE AVAILABLE ONLY FOR PRODUCTS RANGING FROM Rs.7500 AND MORE AT 0% INTEREST. BUT MINIMUM DOWNPAYMENT OF 15% OF THE PRICE OF PRODUCT WILL BE COMPULOSRY TO BE MADE IN CASH. DISCOUNT WILL BE ALLOWED ON FULL CASH PAYMENT. ASSURED GIFT ON EVERY PURCHASE (>Rs.500) WILL BE PROVIDED.*
PLACE MIX
PLATINUM ELECTRONICS WILL BE LOCATED NEAR GURUDEV HOTEL, STATION ROAD, KALYAN (WEST). REASON FOR LOCATING PLATINUM ELECTRONICS AT THIS
LOCATION IS BECAUSE OF PRE-PRESENCE OF OTHER ELECTRONICS STORE. MOREOVER THERE IS NO SUCH ELECTRONIC STORE OF HUGE SPACE. THIS WILL DEFINITELY ATTRACT THE CUSTOMERS TO OUR SHOP. THIS LOCATION IS ALSO FAVOURABLE FROM THE PONIT IF PHYSICAL DISTRIBUTION. IT IS WELL CONNECTED TO HIGHWAY AND RAILWAY STATION IS ALSO NEARBY. THIS LOCATION IS APPROPRIATE FOR TRANSPORTATION, WAREHOUSING, ORDER PROCESSING, MANAGING INVENTORY LEVELS. VARIOUS EDUCATIONAL INSTITUTES ARE ALSO NEARBY WHICH WILL ADD POSITIVE FACTOR TO THE SHOP. THE TEEN AGE GROUP WILL BE ATTRACTED FOR PURCHASE OF ACCESORIES LIKE MUSIC CD S, GAMING DVD S, MOBILE AND i-POD ACCESSORIES.
PROMOTION MIX
PROMOTIONAL ACTIVITIES WILL BE AT THEIR PEAK DURING INTRODUCTION STAGE AND DURING THE SEASONAL OFFERS. THE CUSTOMERS WILL BE INFORMED ABOUT THE PRODUCTS IN THE SHOP BY DISTRIBUTION OF PAMPLETS THROUGH CITY NEWSPAPERS AND MAGAZINES. ADVERTISEMENT WILL ALSO BE DONE THROUGH LOCAL CABLE CHANNELS IN VIDEO FORM AND ON SCROLLS. NEWSPAPERS WILL ALSO BE USED FOR ADVERTISEMENT. ADVERTISEMENT WILL BE DONE IN LOCAL NEWS LEAFLET.
PEOPLE MIX
THE STAFF IN PLATINUM ELECTRONICS WILL BE DIVIDED IN TWO TYPES. 1. SKILLED STAFF THEY WILL BE EMPLOYED FOR INTERACTING WITH THE CUSTOMERS. IT WILL HELP TO UNDERSTAND THE CUSTOMER S WANTS AND THEN PROVIDE WITH APPROPRIATE PRODUCT ASSISTANCE. THEY WILL PROVE TO BE HELPFULL FOR ASSISTING ANY CUSTOMER WITH ANY TECHNICAL PROBLEMS. 2. UNSKILLED STAFF THEY WILL BE EMPLOYED FOR OTHER ACTIVITIES SUCH AS HELPER, CLEANER, DELIVERING GOODS, ETC.
PRESENTATION MIX
PRESENTATION IN THE SHOP WILL BE ATTRACTIVE FOR CREATING THE RIGHT ATMOSPHERE FOR SHOPPING. SOFT MUSIC WILL BE PLAYED FOR THIS PURPOSE ALSO THE COLOUR OF THE WALLS WILL BE LIGHT. PROPER UTILIZATION OF THE PILLARS AND WALLS WILL BE DONE FOR DISPLAY OF PRODUCTS. ACCESSORIES LIKE LAPTOP BAGS AND EARPHONES WILL BE HANGED ON THE PILLARS.
SEPARATE SECTIONS OF DIFFERENT PRODUCTS WILL BE THERE WHICH WILL HELP FOR PROPER DISPLAY OF EACH AND EVERY PRODUCT OF DIFFERENT VARIANTS.
TELEVISIONS AND MUSIC SYSTEMS WILL BE DISPLAYED ON THE WALLS. SECTIONS OF LAPTOPS, MICROWAVE, WASHING MACHINES, REFRIGERATORS, ETC WILL BE SEPARATED BY THE AISLES. PROPER SPACING WILL BE THERE FOR AVOIDIND CROWDING IN THE AISLES.
MUSIC CD S, GAMING CD S, BLANK CD S, DIFFERENT CHORDS, PEN DRIVES, COMPUTER COVERS, MOUSE PADS, MEMORY CARDS, MOBILE ACCESSORIES, ETC. WILL BE KEPT IN ACCESSORIES SECTION NEAR THE CASH COUNTER. POSTERS OF NEWLY LAUNCHED PRODUCTS WILL BE DISPLAYED INSIDE AS WELL AS OUTSIDE THE SHOP FOR CREATING AWARENESS ABOUT THESE PRODUCTS.
doc_425441611.docx