Research conducted by Cuthbertson & Bridson (2006) explores the marketing strategies employed by retailers to enhance customer loyalty, emphasizing the potential of the internet as a medium for driving loyalty. In a separate study, Fiorito & Laforge (1984) investigated the marketing strategies used by smaller retailers to maintain competitiveness in the retail industry. The research identifies two commonly employed strategies among small retailers: integrated marketing strategy and differential marketing.
The main objective for companies in the retail industry is to successfully market their products and stand out from competitors, all while meeting customer demands. According to Parsons (1992), the current mission for these companies is to be ruthlessly efficient by eliminating unsuccessful endeavors and reallocating resources towards activities that bring in profit. McMaster (1987) conducted a study that emphasized the significance of branding strategies in helping retail businesses achieve growth and establish a solid market position.
Another research study in the retail industry focuses on the operations of retailers in serving niche markets. Campo & Gijsbrechts (2004) analyze the limited service and marketing strategy employed by supermarkets to cater to niche markets. They suggest that supermarkets should customize their product and service offerings based on the local area in which they operate. This approach allows them to tailor their service to customers, promote loyalty, and utilize community support in their marketing strategies. The study concludes that sales growth is the most effective marketing strategy for achieving profitability. Additionally, factors such as market share increase, capital-to-labor ratios, and average inventory level contribute to selecting retail marketing strategies that are highly profitable. These excerpts provide a glimpse into the range of essay writing services we offer, including custom essay papers, term papers, research papers, theses, dissertations, book reports, and case studies.
