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Unit 6: Market Specialist

 Weekend sales days per month – 2 minimum Notes
 Full driving license

Task Make a short report on market specialist’s profile.

Self Assessment

Fill in the blanks:
9. Marketing specialist should essentially have Field ................... experience.
10. To utilize the limited human, financial and physical resources ..................., retailers should
have a well-planned strategy.
11. ................... adopt marketing strategies like shotgun merchandising and rifle merchandising.
12. Formulating a retail strategy is very important for all small and big ...............................

6.4 Challenges of Retail Marketing

Retail stores that sell directly to consumers face a different set of marketing challenges than
other industries. For the retail industry, the majority of its marketing challenges deal with the
perceptions and thought-processes of consumers shopping in retail stores.

6.4.1 High-ticket Items Require a Consumer Sacrifice

Especially, in tough economic times, many consumers may think that purchasing high-ticket
items requires them to make a long-term sacrifice. To be able to afford the costly item, a
consumer may have to cut back spending in other areas. To market these high-ticket products,
retailers must focus on how the item benefits buyers, convincing customers it is worth the
perceived sacrifice. Other retailers have used payment plans that do not charge interest for a
certain period of time as a way of making the big-ticket item affordable.

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Caution Retailers need to adjust their strategies or implement tactics in light of the huge
drop-off in consumer spending.

6.4.2 Small Stores Have Limited Merchandise

Small retailers often have a hard time competing with bigger retail stores as many consumers
assume smaller stores have smaller selections. Challenges that small retailers face is how to
create marketing campaigns that make the store seem more broad-based. For many small
retailers, this may require hiring professional marketers or graphic designers to create print or
online advertisements. The ads should focus on the store’s variety and ability to provide what
the bigger name brand stores can offer, only closer to home.

6.4.3 Trendy Stores are Expensive

Trends in retail stores are often what make a store successful. Individuals interested in fashion
want to buy the latest fashions. Electronic gurus want the newest cell phone or computer.

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