Retail Grocery Store Marketing Strategies †MyAssignmenthelp.com

Question: Discuss about the Retail Grocery Store Marketing Strategies. Answer: Introduction: The first P is defined as Product. A product can be a good or service which fulfills customers expectations. A product is the requirement of consumer. The XYZ supermarkets offer products such as fresh fruits and vegetables. It provides various kinds of fruits and vegetables at attractive offers. The supermarket also makes available organic fruits and vegetables. Plastic bags are totally banned by the supermarket for carrying fruits and vegetables, jute bags are given .Some decisions are supposed to be taken while launching a product and these are: Name, quality, quantity, lifecycle, guarantee, precautions, packaging, repair, profitability, differentiation and many more. Price is what a consumer is supposed to pay for a product. Price has important role in profit margins, demand and supply. The prices offered by XYZ supermarkets in Johor Bahru are fixed. The variation in the price are based on the quantity and quality of the product .The variation in price is also based on the type and quality of the product (Chrysochou, 2010).Consumers have various options for making payment such as- plastic money, coins, debit card, credit card. Some examples of pricing decisions are discounts management, offers, price gain, price discrimination and many more important areas. Place is where a customer can get a product. Distribution channel is the main element of Place. A businessman faces its competitors at Place. A customer gets different kind of products at a place. If a transaction does not happen at place then it occurs online. XYZ Supermarkets can be established at any place like-railway station, airports, local area market as these are highly populated. Decisions taken in case of place are orders, warehousing, transportation, channels and competitors. Promotion includes various terms such as advertisement, sales promotions, publicity, direct selling, public relations and so on. Promotion is the way to communicate with customers. After getting price and place we have to promote the product. The XYZ supermarkets can make use of promotion tools as per their suitability and funds reserved. Boarding and banners are widely used at the prime locations for the awareness in Johor Bahru (Glanz, Bader Iyer, 2012). Television is also one of the effective tool for the promotion however its quite expensive method. Decisions required in promotions are marketing strategy, type of media, direct selling, advertisement, publicity and many more ways. Market segmentation means segregation of customers into groups who have common needs, interest and taste. Market segmentation gives identification to customers based on their priorities. In Johor Bahru market segmentation is done by XYZ supermarket on the basis of following variables- In Market segmentation, Demographic variables are done on the basis of the occupation of the people. The different segment of people includes students, laborers, working people, and senior citizens. Segment is also done on the basis of income, age and gender of customers. In the psychographic variable segment is done on the basis of lifestyle, preference and choice of customers management. Behavior variables are identified as attitude of the consumer. Consumers prefer to eat green and organic vegetables. For this the owner maintains more stock of these for consumption. References Chrysochou, P., 2010. Food health branding: The role of marketing mix elements and public discourse in conveying a healthy brand image.Journal of Marketing Communications,16(1-2), pp.69-85. Glanz, K., Bader, M.D. and Iyer, S., 2012. Retail grocery store marketing strategies and obesity: an integrative review.American journal of preventive medicine,42(5), pp.503-512.