What makes retail marketing stand out? What are the challenges? Retail marketing 2.0: How companies advertise in the digital world
What is trade marketing?
Retail marketing deals with marketing and offering all products, sub-products and processes in retail. Due to the various sub-areas in retail, which consist not only of the sale and sale of the end products, but also of the procurement of the product, actual competition and internal processes, trade marketing is a very diverse area of retail marketing. This diversity makes it necessary to take a closer look at the individual areas and their special features.
definition
The term trade marketing stands for institution-specific marketing for retail companies, usually regarded as procurement and sales marketing. All trade marketing instruments must be used in accordance with the specific circumstances on the procurement and sales markets. The main difficulty is coordinating the directly interacting consequences.
Who is retail marketing relevant for?
that Retail marketing is an interesting area for all people who work with retailers and retail companies. This applies in particular to manufacturers and people who are employed in the procurement and manufacture of products. This applies to the company's employees, all their suppliers and also the competing providers. However, since the finished products and services go to very different types of customers, retail marketing is also relevant for end consumers. Due to the many different areas of application and tools of trade marketing, sub-areas and the management of them can be of interest to almost everyone.
What makes retail marketing stand out? What are the challenges?
- Continuous research into relevant markets: Sales market, procurement market, competitive market, internal market
- Complex differentiation possible: by sector (e.g. retail marketing or mail-order marketing) or by industries, company sizes, locations, etc.
- Linking and interdependence of the individual areas (manufacturers, suppliers, management)
- General goal in marketing: Acquiring new customers and sales
- customers are achieved through high product and service quality tied for the long term
- Securing market shares in competition
The relevant markets
sales market
The sales market offers the platform on which products such as Consumer goods and also services offered and customers should be persuaded to buy. In this case, In marketing, particular emphasis is placed on knowing the needs of customers and presenting the product or service as precisely as possible. The corporate marketing department in particular is concerned with how the company's performance is best placed on the market and how the highest possible sales can be generated. On the one hand, you can differentiate between sales marketing on the basis of Focus on the local, national or international market, on the other hand, also due to the offer and the participants. Even though most people immediately think of marketing when they first think of sales marketing, this alone is not enough. Without the other parts of trade marketing, a product cannot be properly produced or offered on the sales market.
- displays
- print marketing
- online marketing
- Advertising in public spaces
- social media
procurement markets
On the procurement market, it is clear Where the raw materials for our own production come from or which products are needed to offer a service. This market is therefore upstream of production and the sales market and every manufacturer and every company that offers products or services on the sales market is also represented on the procurement market. Are procured for manufacturing not only the individual parts and resources, but also financial resources, workers and intermediate products which are required for completion. As a result of increasingly global networking, The procurement market is internationally expandable and changeable. For companies and manufacturers from whom the resources and parts are purchased, their sales market is the procurement market of the producer of the end product. Procurement market marketing is therefore about influencing purchasing activities as specifically as possible and making them efficient.
- Connecting suppliers
- Contact service providers
Competitive market
The competitive market is, as the name says, a market in which there is great competition and therefore a great comparison. This competition can be divided into a large number of suppliers and a high number of buyers. If many providers or suppliers therefore offer the same good, individual retailers can have relatively little influence on the price. The opposite of this would be a monopoly market in which there is little competition or a scarce commodity is offered. Because of the wide range on offer, it is therefore important to stand out from the competition in competitive marketing. This is usually done by highlighting product features or particularly low sales prices. Apart from competition for buyers, competitors in retail can also be used as a source of information. They serve to exchange experiences and offer the opportunity to compare processes and procedures in the company.
- Advertising associations on a horizontal level
- Uniform advertising focal points
- Exchange between different locations
Internal market
The fourth market that is served in retail marketing is the internal market. On the internal market, the Reconciliation within the company. On the one hand, this involves the correct presentation and presentation of goods and goods in stores. In particular, there will be Questions about store design and product presentation clarified. On the other hand, internal processes are also important. Voting on Staff training and continuing education as well as the Control of processes such as incoming goods inspection They also fall under the field of the internal market.
- Agency and shop equipment
- Internal mailings
- Internal communication
- interfaces
Retail marketing goals
Even in retail marketing, as in marketing in general, the goal is to ultimately generate customers and to convince them of your own product, services and the entire company in the long term. Retailers want to be remembered by customers above all for the high quality of service and products. After looking at the various markets, however, it becomes clear that this is not only possible through pure sales marketing. Procurement of individual parts and securing shares on the competitive market as well as internal implementation also play a decisive role in convincing the end customer. The success of retail marketing therefore lies in its systematic and consistent implementation in all four markets.
Multi channel concepts
As a result of ever increasing cross-media, more and more different platforms and measures are also being used in retail marketing. Products and services can be placed on various offline and online channels using a campaign.
social networks
Social networks are becoming increasingly popular, not only in private life. Retail marketing is also increasingly being communicated online and via platforms. These marketing tools can be used to pick up interested parties directly and in their everyday lives. Simple filtering and target group determination also makes networks one of the most popular marketing measures.
Augmented Reality
Augmented reality offers are also becoming increasingly popular in sales marketing. Especially in online shops, products can be tried on, combined and tested virtually using various measures. The technical test can therefore protect against bad purchases in advance.
IT systems
As a result of continuous technical development, technical support can be used in many areas of the marketing process. Whether it is to manage data or transfer it directly to established service providers, the use of IT systems saves time and money. These resources can be reinvested in other process steps.
How can software support?
In retail marketing, especially On the sales market, it is important to reach customers and apply a uniform marketing strategy. This consistency and efficient use of marketing opportunities can be achieved by supports and simplifies a software solution become. Here it is important to: access the various digital resources and, for example, to forward images, videos, graphics, but also data or address lists to all parties involved. If employees are provided with the complete database of media (via digital asset management), they can first be inspired by the media selection and develop new ideas. If this is not the case, only targeted media can be requested from headquarters, which leads to less creative or varied use of the media. A marketing portal helps to ultimately incorporate these media into finished marketing materials.
In a Marketing portal, all print media and instruments of a classic web-to-print platform can be combined into one system. In addition, cross-media marketing materials of all types can be personalized and processed and ordered, printed or reserved directly from the service provider. Here it is It is not only possible to create printed materials, but also to place digital advertisements and to create and even promote posts on social media. The large mix of different marketing materials makes it possible to support an entire trade marketing campaign with the right marketing measures. By integrating the company's own digital assets management system, stored data and media can also be used directly in the production of marketing materials and further simplify the process. In addition to these benefits, a marketing portal can In addition, a general plan of marketing priorities is published, which all relevant sales partners can access and take into account for their own planning.
