Types
Sell goods directly to consumers for personal use
Grocery Stores
Popular Social Media people who try and persuade consumers to visit a certain store or buy a certain product
An influencer
Shopping experiences with customized recommendations, tailored product offerings, and marketing messages
Personalization
Physical stores that serve as retail spaces
Brick & Morter
The element of the marketing mix that is built in the margin (cost plus mark-up)
Price
A large retail establishment that offers a wide range of goods and services organized into separate sections or "departments" under one roof
Department Store
A retail employee who helps customers with the buying process
A salesperson
Platforms like TikTok and Facebook are increasingly becoming popular channels for discovering and purchasing products
Social Media marketing
If you buy a product and decide that you want to take it back for a refund
A return
Online (social media), print, and TV advertising are part of the marketing mix
Promotion
A retail store that focuses on selling one specific type of product
A Specialty Store
A retail employee that moves the merchandise from storage to the shelves
Stockperson
The worldwide event that accelerated the ecommerce markets to new heights
COVID 19
If you buy something and you like it, but it does not work, you can return it for another one.
An exchange
Location, operating hours, space
Place
Retail establishment that offers a wide variety of products at lower prices than traditional retail outlets
A discount store
The employee or department that hires and fires employees
Human Resource (HR) manager or department
Customers to seamlessly shop across various channels, be it online or in brick-and-mortar stores
Omni-channel shopping
You can speak with someone in person about a product, or its use, as opposed to someone online or over the phone
Face to face
Service level, assortment, brand, and categories
Product
Specialize in selling high-end, premium products that emphasize exclusivity, superior quality, and exceptional craftsmanship
Luxury Store
The top of the organizational chart that plans long term strategies for the company
Chief Executive Officer
Consumers are more conscious about their purchases’ environmental impact and seek out eco-friendly products
Sustainability
A fixed expense that a landlord receives for the physical space uses each month
A lease
Merchandising, uniforms, packaging, neetness and organization
Presentation