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The Basics of Retail Marketing Strategies
Understanding your customers, what they value, and how to reach them in retailPreview the first lesson free — get full access to all 6 lessons.
Advanced Provider : Karen Krantz 6 Lessons · 17m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
The exciting world of retail marketing is constantly evolving. If you’ve ever wanted to start your own retail business or you currently work in retail, or if you want to understand your customers better and build and improve strategies, this course is for you. This course will discuss the difference between consumers and shoppers. We will examine how to determine the value a product can have for the customer. We will also explore the ways that customers’ wants, needs, and demands influence their purchases. This course will help you understand the foundation of an effective retail marketing strategy. You’ll learn how to identify target markets and understand the importance of value from a customer point of view. You’ll analyze the consumer’s decision-making process as well as the retail marketing mix strategy.
What You'll Learn
- Define and identify target markets, customers, and shoppers
- Distinguish between consumers and shoppers
- Identify the consumer decision-making process
- Understand consumer wants, needs, and demands
- Determine the value a product can have for the customer
- Explain the Seven Ps of the retail marketing mix and how they fit into retail strategy
Key Takeaways
- An effective retail marketing strategy is built on identifying target markets and understanding value from the customer's point of view.
- Consumers and shoppers are not the same, and recognizing the difference matters for retail marketing.
- Customers' wants, needs, and demands influence their purchasing decisions.
- The retail marketing mix is captured in the Seven Ps and is incorporated into overall retail strategy.
- Staying mindful of changes in customer behavior is part of building and improving retail strategies.
Frequently Asked Questions
Who is this course for?
It is for anyone who wants to start their own retail business, currently works in retail, or wants to understand their customers better and build and improve retail marketing strategies.
What does this course cover?
It covers the difference between consumers and shoppers, how to determine the value a product can have for the customer, how customers' wants, needs, and demands influence purchases, the consumer decision-making process, and the retail marketing mix strategy.
What skills will I gain?
You will build skills in marketing strategies, retail effectiveness, retail management, retail marketing strategy, sales strategy, and shopper marketing.
What topics are included in the lessons?
Lessons include an Introduction, Consumers vs. Shoppers, Determining Your Value, Being Mindful of Changes in Customer Behavior, The Seven Ps of the Retail Marketing Mix, and a Test Your Knowledge section.
Will I learn about the retail marketing mix?
Yes. The course explains the retail marketing mix, including the Seven Ps, and how it is incorporated into retail strategy.
