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A number of scholars have argued for an expanded marketing, mix with the inclusion of two new Ps, namely, Personnel and Presentation since these contribute to the customer's unique retail experience and are the principal basis for retail differentiation. Yet other scholars argue that the Retail Format (i.e. retail formula) should be included. [1]
Omnichannel retail strategy, originally also known in the U.K. as bricks and clicks, [citation needed] is a business model by which a company integrates both offline and online presences, sometimes with the third extra flips (physical catalogs).
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.
Retail geography, or geography of retailing, is the study of where to place retail stores based on where their customers are. The use of retail geography has grown significantly in the past decade as a result of the use of geographic information systems . It first emerged in the United States in the 1960s. [1]
Processes of a go-to-market strategy. In the earliest stages of developing a go-to-market strategy for a new product or service, the company has to initially define the target market. The company then must determine whether they already have prospective customers within their customer base but who are using different services. [1]
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