an overview of retail marketing in india
January 7th 2012 Posted at Hobbies
Comments Off
An Overview of Retail Marketing in India INTRODUCTION Retailing is the worlds largest private sector contributing to 8% of the GDP and it employs one sixth of the labor force. The estimated retail trade is expected to be 7 trillion US $. Many countries have developed only due to retailing and presently we see there is a vast change in the retail industry. As far as India is concerned it contributes to 14% of our GDP and it is the second largest sector next to agriculture which provides employment to more number of persons. Now according to a survey, India is classified in to the fifth most attractive retail destination and second among the countries in Asia. Worldwide it is ranked as fifth most attractive retail destination. Before proceeding further, let me tell you the functions of retailing. OVERVIEW Today our topic will be on one of the interesting are inflatable boats as of Service Marketing Retail Marketing. First we will see what is meant by Retail. This word has come from a French word Retailer which means to cut off a piece. Retailing includes all activities involved in selling the products and services to the ultimate consumers. So this is said to be the last person in the channel of distribution. In this discussion I will be introducing the concept world wide as well as in the national context. Next our discussion will be on the functions of retailing, then we proceed to why there is retail revolution at present, and finally we will study about the challenges faced by the retail industry. FUNCTIONS OF RETAILING Retailing is supposed to provide: Product Utility Place utility Time Utility Ownership Utility It provides final end products to the consumers, not raw materials, end products in usable form to the consumers.