Retail Marketing Investigation

3450 Words Jul 27th, 2014 14 Pages
Retail Marketing Investigation
Report

MKT236 Retail Marketing: Assessment 1

Word Count: 2789

Executive Summary
The aim of this report is to examine the characteristics of merchandise assortment and store design within two retail companies to identify constituents that can have a negative and positive influence on the stores. Apparel department of two discount department stores were selected and observed in the constituents that create their merchandise assortment and store design. Apparel departments of Target and Big W at Fountain Gate in Victoria, Australia were selected as locale of study.
The report consists of two sections. The theoretical study section is based on literature review of two elements of marketing
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Merchandise assortments and Store design and display are fundamental constituents of retail mix that retailers use to satisfy consumer needs and influence their purchase decisions and thus affect consumer commitment by creating satisfaction. Other important elements in the retail mix include location, price, customer service and the communication mix (Levy and Weitz, 2007).

Merchandise assortment also known as product mix or selection refers to the total number of product lines that a retailer offers to its customers. Merchandise assortment includes product breadth and depth (Miller, 2008). Clodfelter (1993) states that merchandise assortment is a collection of various quantities of styles, colors, sizes and prices of associated merchandise, generally categorized under one classification within a department. Product displays that are well arranged and follow these vital features may create or improve a store image, draw customer attention, arouse their feelings, shopping experience, shopping behavior and purchase intentions.

Designing an alluring store image that communicates to ones customer sector is important for retailers in order to attract customers (Peter and Olson, 2005). Attracting customers and distinguishing one from competitors have become increasingly important. The store design is something that frequently needs change as shopping behaviour and rivalry changes (Peter and Olson, 2005). The importance of knowing how the customer’s

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