The basic function of retail is to provide the right goods to the consumer, at the right place and time. However, in today’s competitive world, how does a retailer inform the customers about the products that he has on offer. How does he lure them to visit and shop at his store? How does he achieve the sales targets? The marketing tools that a retail organization uses to pursue its marketing objectives are termed as the retail marketing mix. Let us now understand the components of the Retail Marketing Mix.
One of the main elements of the retail marketing mix is the product/s and /or the services that the store offers the customer.