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    Retail Mix: Social, Economic, Technological, and Competitive Forces

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    Amit Singh
    The document discusses the various social, economic, technological, and competitive forces that influence retail mix. It defines retail mix as the combination of location, merchandise, communications, price, services, physical attributes, and personnel that make up a retailer's overall marketing strategy. It then examines how social factors like consumer religion, beliefs, education levels, and pressure groups can impact retailers. Economic forces such as income levels, purchasing power, market conditions, and fiscal/monetary policies are also reviewed. The document explores how technology influences retail mix through packaging, billing systems, storage, and transportation. Finally, it analyzes competitive forces using Porter's five forces model of competition, substitutes, supplier and buyer power, and industry rivalry.

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    Retail Mix: Social, Economic, Technological, and Competitive Forces

    Uploaded by

    Amit Singh
    1K views12 pages
    The document discusses the various social, economic, technological, and competitive forces that influence retail mix. It defines retail mix as the combination of location, merchandise, communications, price, services, physical attributes, and personnel that make up a retailer's overall marketing strategy. It then examines how social factors like consumer religion, beliefs, education levels, and pressure groups can impact retailers. Economic forces such as income levels, purchasing power, market conditions, and fiscal/monetary policies are also reviewed. The document explores how technology influences retail mix through packaging, billing systems, storage, and transportation. Finally, it analyzes competitive forces using Porter's five forces model of competition, substitutes, supplier and buyer power, and industry rivalry.

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    Retail Mix

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    The document discusses the various social, economic, technological, and competitive forces that influence retail mix. It defines retail mix as the combination of location, merchandise, communications, price, services, physical attributes, and personnel that make up a retailer's overall marketing strategy. It then examines how social factors like consumer religion, beliefs, education levels, and pressure groups can impact retailers. Economic forces such as income levels, purchasing power, market conditions, and fiscal/monetary policies are also reviewed. The document explores how technology influences retail mix through packaging, billing systems, storage, and transportation. Finally, it analyzes competitive forces using Porter's five forces model of competition, substitutes, supplier and buyer power, and industry rivalry.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1K views12 pages

    Retail Mix: Social, Economic, Technological, and Competitive Forces

    Uploaded by

    Amit Singh
    The document discusses the various social, economic, technological, and competitive forces that influence retail mix. It defines retail mix as the combination of location, merchandise, communications, price, services, physical attributes, and personnel that make up a retailer's overall marketing strategy. It then examines how social factors like consumer religion, beliefs, education levels, and pressure groups can impact retailers. Economic forces such as income levels, purchasing power, market conditions, and fiscal/monetary policies are also reviewed. The document explores how technology influences retail mix through packaging, billing systems, storage, and transportation. Finally, it analyzes competitive forces using Porter's five forces model of competition, substitutes, supplier and buyer power, and industry rivalry.

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    RETAIL MIX

    SOCIAL, ECONOMIC, TECHNOLOGICAL, AND


    COMPETITIVE FORCES
    RETAIL MIX

    the mix of variables, including location, merchandise,


    communications, price, services, physical attributes and
    personnel, which form the overall strategic marketing
    components of retailing.
    Location.
    Merchandise.
    Communication
    Price
    Services
    Physical attributes
    Personnel.
    SOCIAL FORCES

    In recent years, the concept of social responsibility has


    entered into the marketing literature as an alternative to the
    marketing concept.
    The implication of socially responsible marketing is that
    retail firms should take the lead in eliminating socially
    harmful products such as cigarettes and other harmful drugs
    etc.
    There are innumerable pressure groups such as consumer
    activists, social workers, mass media, professional groups
    and others who impose restrictions on marketing process
    and its impact may be felt by retailers in doing their
    business.
    SOCIAL FORCES

    RELIEGION ,BELIEFS, CUSTOMS AND VALUES


    OF CONSUMERS
    People live in different parts of the country may have
    different cultural values – which has to be analysed
    by retail business people/firm.
    This will help them to reorient their strategy to fulfill
    the demands of their consumers.
    EDUCATION LEVEL:
    People with different education level have different
    type of needs and demands.
    ECONOMIC FORCES

    DEFINITION
    Factors such as level
    of employment, rate of inflation, rate of interest,
    demographic changes, and fiscal and monetary
    policies, which determine the state
    of competitive environment in which a firm operates.
    ECONOMIC FORCES

    INCOME LEVEL:
    Different income level group has different type of
    product need. So the retailer should adopt the retail mix
    according to the income level of consumers, existing in
    that area.
    PURCHASING POWER:
     Consumer purchasing power measures the value in
    money for which consumers may purchase goods or
    services.
    If the purchasing power of consumer is strong they will
    go for more and more purchasing of costly goods.
    ECONOMIC FORCES

    MARKET CONDITIONS:
    Market condition means whether it is boom or
    recession, inflation or deflation.
    FISCAL AND MONETARY POLICY
    Factors such as interest rate, taxation policy e.t.c.
    TECHNOLOGICAL FORCES

    Technological factors such as packaging, billing


    system, storing system, e.t.c affect the retail mix
    very much.
    1. Innovative packing of the products
    3. Modern stores where merchandise can be stored
    for a long time.
    4. Billing.
    Transportation.
    Internal facilities. e.t.c.
    COMPETITIVE FORCES

    Forces in the marketing environment that are based


    on competition among customers and competition
    with other firms
     Who is buying goods and services and who is
    providing them to those customers?
    Are there many competitors or are there just a few?
    Maybe none.
    Knowing what competitive forces exist helps an
    organization develop strategic planning to attract
    customers
    PORTER’S FIVE COMPETITIVE FORCES

    ENTRY OF COMPETITORS
    How easy or difficult it is foe new competitors to
    start competing.
    THREAT OF SUBSTITUTE
    How easily a product or service can be substituted
    especially made cheaper.
    BARGAINING POWER OF BUYERS
    If there is more no of sellers the bargaining power of
    buyers increase because they have alternatives to
    switch over.
    BARGAINING POWER OF SUPPLIERS
    Same is in case of suppliers. The bargaining power of
    suppliers increases with the no of retailers.
    RIVARLY AMONG EXISTING PLAYERS
    Is there a strong competition among existing players.
    Is one player very dominant or all are equal in sixe
    and strength.
    THANK
    YOU

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