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The components of a firms image - Essay Example
Pages 2 (502 words)
The components of a firm's image are its target-market characteristics, retail positioning, store location, merchandise assortment, price levels, physical facilities, customer services, mass advertising and publicity, personal selling, and sales promotion…
The goal is to manufacture product differentiation where no inherent distinctions exist. Retail positioning creates a value of "who you are" in the market.
Store Image is the positioning of a store in terms of its branding, product selection, interior and exterior design, fixtures and fittings, lighting and other elements affecting the visual outlook of a retail store. Store atmosphere affects merchandise quality inferences, in turn affecting store image. Often, a consumer's first impression of a store is based on what can be seen or heard from outside the store. This may include the displays, the lighting, the music, the color scheme, and the arrangement of space.
Merchandise Assortment is necessary to increase profitability which is the key driver for any business. Effective merchandising assortment and planning results in maximising sales potential and minimising losses from mark-downs and stock-outs. Effective merchandise planning and assortment effectively controls the two major areas of profit leakage in retail, which are the loss of sales due to stock shortage, and the forced margin reductions due to excess stock.
The essence of computer aided direct marketing is that it aids in telemarketing; that is, selling over the telephone. ...
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