9 P's of Modern Retail !

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Along with the normal 4 P's of marketing , retail has 5 more P's that play much more importance in success in retail play , The new 5 P's ( registered with eindiaretail ! ) thats been suggested should ideally get broken into specific areas for action /programs .The shift has already begun into the new 5 P's among evolved retailers as the old 4 P's are more less taken for granted these days , go thru any successful retail model , you will find these as the secret behind their sucess .


Retail is all about People, people & people , be it customers or employees , on the employee front ::so much time is spent on this function either in recruiting or in training ! on the customer front retailers do try to differentiate by service delivery , loyalty etc , this is the most critical P


I have included Parking as also an important P( not comparable to People ofcourse ) as it could have huge bearing on individual store performance


So here is the final 9 P's list of Retail ! and its all set to stay without change for a long time !!


OLD ( 4 P's ) :: Product /Place / Price /Promotion

New ( 5 P’s ) :: People /Process /Positioning / Pulse of Customer & Employees/Parking !

Comments

Pratik Jagad said…
Good blog. Useful information. I also run a blog on retail covering issues in the US mainly and once in a while on India. Please check it out at your convinience - http://headsoretail.blogspot.com/
October 9, 2007 at 7:12 AM
Unknown said…
Hello

Great Blog I will definitely bookmark your blog. I am also having a blog related to ratail http://newsonretail.blogspot.com/ which gives latest analysis and trends in retail industry in the present recession period. I would appreciate if you could kindly bookmark my blog too
March 21, 2009 at 12:20 PM
Anonymous said…
This idea has become outdated
December 30, 2009 at 1:48 AM
Anonymous said…
Hey, just want to say hi. I'm new here.
February 18, 2010 at 6:08 PM
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