Examples of Retail Markets | Marketing

The following points highlight the thirty two major examples of retail markets. The examples are: 1. Peddlar and Street Hawkers 2. Kirana Shops 3. Bazaars 4. Jatras, Urus 5. Organised Retailing 6. Convenience Stores 7. Specialty Store 8. Discount Store 9. Category Killers 10. Duty Free Shops and Few Others.

1. Peddlar and Street Hawkers:

Those who sell products like Vegetables, Grocery, Small demand consumer durables carrying goods on their head or on a bicycle or 4 wheeled trolley.

2. Kirana Shops:

These are popular Grocery shops in India that sell the vegetable and grocery to Indian families. They are normally located near by the residence of consumers. They are family owned and controlled business. They may not allow pure marketing principles. A Kirana shop owner is trusted man of his consumers. People depend entirely on him for business and also social activities.

3. Bazaars:

Villages and rural India will have these retail activities weekly once. The weekly day Bazaar changes from area to area on the designated day shops are set and people congregate to make their shopping for the week.

4. Jatras, Urus:

These are religious activities where in people congregate or gather to mark the occasion. During the period tents are fixed to sell goods.

A parts from this Panshops and Galli Dukkans are popular means of retailing particularly in India.

5. Organised Retailing:

This format of retailing is gaining popularity worldwide. An organised retail system applies marketing function and it is organised and managed in a systematic manner.

6. Convenience Stores:

These are small retail outlets that are normally located near the place of customers. Kirana Stores of India can be classified as a convenience store that sells every kind of commodity that is needed for routine use E.g. Vegetable, Stationery, Toiletries. It has a limited range of products to offer. It is called as convenient due to its location near the place of residence.

Modern convenience stores are also popular that are located in Petrol (Gas) Stations. Popular names are ‘In-out’, 7-Eleven SPAR etc. They normally sell small consumer durables like Toiletries, Ice cream, Soft drinks, Cosmetics, ATM.

7. Specialty Store:

The specialise in display and sale in specific range of goods. Product range in electronic items consumer durables, Jewellery, Sports equipment, Furniture’s, Garment and foot wear. They are also called as Emporiums E.g. Saree Emporium, Firms like Ikea, Planet M (Music’s), Raymond’s, (Park Avenue, Zodiac), are popular in this. These firms are normally expensive and satisfy the needs of selected customers who have preference for exclusive things.

8. Discount Store:

They sell standard products of higher volumes at a lower or discounted price. They offer quality brands. Discount is offered on regular basis on purchase is large quantity. They deal in general merchandise and also sports, electronics and books.

9. Category Killers:

They deal in particular range and type of product, large variety is kept as stock. They buy in large quantity and keep wide variety for display and sale. They can offer a reasonable price and discount to their customers due to their large scale purchases Firms like Kids- camp (Bangalore) Nallis Saree (Chennai) ‘R’ Toys of Europe are popular examples of this.

10. Duty Free Shops:

These are retail outlet that are located in airports, Passenger of international or domestic flight who have spare time before their flight can make shopping in these outlets. Luxurious items like Foreign Liquor, Electronics items Perfumes, Cosmetics of different brands of international repute are for sale. The main advantage of buying in this shop is that it is duty free, i.e., import duty is not charged on items that are purchased for personal consumption.

11. Departmental Stores:

These are large shopping outlets that offer almost every kind of product under one roof and management Entire organization is classified in department, each department being specialized in certain products e.g. Garments, Grocery Electronics, Kids section, Furniture, Home Appliances etc. It may be organised in several floors or in the same floor in different sectors.

Along with the that it has features like large Parking area, Coffee House, Boutique, health club, move theatre, children play or amusement area etc. Every effort is made to give comfort and convenience of shopping less than one roof. Firms like Pyramid, ‘Shoppers stop’, RPG (Hyderabad) Ebony Mark and Spencer sears etc. are popular examples.

12. Supermarkets:

These are also large size shopping malls that display and sell wide range of goods, specialty of these markets is that they are ‘Self-service stores’. Customers have to make their own choice of product. They have to pick it from the shelf and bring it on the trolley Billing and payment is made at the counters. They charge reasonable price as cost of labour is minimum.

Super Market also have wide variety of facilities like Cafeteria, Theatre, health club etc. They may also provide home delivery service. They specialise more on grocery food items. Popular example are Nilgiri’s ‘More’, Food Baazar, Spencer’s, Tesco Safeway, Kroger etc.,

13. Hyper Market:

It is a French word ‘HYPERMARCHE’ that is a combination of a departmental store and Supermarket. They are of giant size that offers one stop shopping. Every product required by the customer is made available along with facilities like bank ATM, Cafeteria, Children paly etc. They buy and sell on large scale due to which they offer competitive price than the market price Popular examples in that category are Big Bazar, Star India, Orin Mall, Wall Mart, Carrefour etc.,

Hypermarket is bigger than a departmental or super bazar. They resemble like a warehouse, normally they are located in a quiet place of city, as it needs large area.

14. Warehouse Clubs:

They offer a variety of goods on bulk at wholesale price. They deal in limited range of merchandise.

15. Catalogue Show Rooms:

An office and limited staff manages this kind of outlet. Catalogue that describes product, price etc., is kept in the office. Sales orders are received by showing the catalogues. Actual goods are in the warehouse, goods are dispatched from the warehouse after receiving the order and payment. They sell fast moving brand name goods at reasonable price. These include Jewellery, Camera, Toys, Sports Goods etc.

16. Mail Order Business House:

That is another method of direct selling to the customer. Growth in postal and courier service has helped for development in this kind of business. Orders are received through mail and goods are dispatched through mail. Items that have less weight and bulk are normally are traded through this. E.g. Books, Shoes, Jewellery.

17. Tele-Shopping:

Details and description of goods are publicised through TV’s. There are separate TV programmes and channels to undertake shopping through TV. E.g. Homeshop18, Telebrands etc. TV demo of product its price other details are shown in the programme, ordering method and payment details are given Customer orders are dispatched through courier mail.

18. Internet:

Growth in information technology is making e-trading very popular. There are separate web based trading houses Amazon.com (A to Z shopping) e-bay, Jabong, Quikr, Myntra.com etc. are popular. Items like Clothing Books, Footwear, Sunglass etc., are traded. Orders are received through net, e-payment is received through net and dispatch of product may be made through courier. Growth in courier service and e-banking is popularizing this made of shopping.

19. KIOSKS:

These are vending or selling machine ATM is a best example of KIOSKS. Items like Newspaper, milk, chocolates, Tea, Coffee, Railway Tickets can be sold through installed Kiosks. They are installed in busy centres like Railway Station, Bus stand, Market, College etc.

20. Direct Selling:

Companies sell directly to customers, door to door, office to office or at home through sale parties. Salesman/Agents are appointed who directly sell product to final customers. Eg. Amway.

21. Banking:

Commercial banks are opening a separate section called retail banking. Products like Home loan, Car loan, Loans for consumer durables are designed to meet the needs of individual customer and they are marketed, along with the deposit, insurance and investment services are offered by the banks. The product is designed to match the need and requirement of each customer New generation banks like HDFC, ICICI, AXIS are popularising the concept of retail banking.

22. Insurance:

Business of insurance is also growing very rapidly. Earlier, an insurance policy was taken to cover risk. Now insurance not only covers risk of life and property, it also offers opportunity of investment, Health coverage etc. Varieties of insurance policies are designed to match the taste and preference of customer.

Earlier, business of insurance in India was dominated by LIC now many private firms like Reliance, Bajaj, Tata, Banks and MNC like Prudential, Allianz have entered Indian Market. Insurance policy is designed to offer variety of options like saving investment, risk coverage, health package etc. to match the taste of customer. Aggressive marketing strategies are adopted by these firms through their branch network and agents to sell their product.

23. Tourism:

Tourism is developing as a separate area of business. Firms like Kesari, Nirmal travels Thomas and Cook, MSIL, and also state tourism departments are offering domestic and foreign tour package. Such package includes Travelling, hotel, sight-seeing etc., package is designed to match the need and budget of customer. Tour package products are advertised through media, agents are appointed to persuade prospective customers.

Package products are sold by attracting people to go on tour. Package tours offer convenience as every arrangement in made in organising firm. They offer price concession and discount to popularise the scheme. Special packages like Holiday, Honeymoon, Summer are offered.

24. Finance and Investment:

Web based trading of securities in De-mot form has made investment in company securities and mutual funds convenient for people through mobile, internet one can monitor their portfolios and investment.

Better investment opportunities, convenience of investment has created retail business opportunities in this area. Firms like Reliance, Birla, Tata are designing finance products to match the investment needs of individual customers. Products that cover risk, provide adequate returns, safety of investment are designed to match the needs of investing customer.

People are motivated to invest money in them instead of going for investment in gold or real estate. Aggressive marketing efforts are made through agents, advertisement and people are convinced as to how finance products are profitable.

25. Communication and Knowledge:

Communication and sharing of knowledge is fast developing as a separate area of business. Growth in information technology has created better opportunities of business in this area e.g. Mobile network, Internet Connectivity etc.

Firms like Airtel, Vodafone, Docomo along with BSNL are designing package communication services that offer messaging talk time, internet 2G, 3G etc., They are designing the services to match the needs of specific customer and aggressively marketing.

Web platforms like Google, Facebook also provide business opportunity, by offering goods available for sale.

26. BPO’S and Call Centers:

These are firms that provide service in the area of knowledge. Their clients are not a common man but established business houses. Business firm may not have their in house or their own accounting Legal Marketing, Finance and operational centers. Some of that process may be given out or outsourced to an outside expert agency.

The India is a popular destination for its business of BPO. Firms like WIPRO, Infosys, TCS, Satyam provide the service of developing necessary software, handling necessary operations on behalf of their client firm.

27. Event Management:

India is a land if traditions where family get together along with the friends, relatives, neighbors and colleagues frequently happens to mark occasions like Birthday, Marriage, House Opening. Elaborate arrangement is made of Hiring a Hall, its decoration and wide variety of dishes for Tiffin and Lunch.

Organising all these things now a day is a Herculean task, especially in a city where the facilities are not easily available as Family members are less. Entire exercise of organising such events is given to an organization that is specialized in event managements. Such firms provide the kind of service expected by their client to match the occasion and budget.

28. Independent Retailer:

Local retailer like Convenience shops, Specialty, Category killers can be organised independently. They may be organised as Sole trade, Partnership, Joint Hindu family business as the size of business is small, Investments is less compared to a super bazaar, They can be organised as independent units. They are mostly family controlled business.

29. Joint Stock Companies:

Large retails organisations like Department Store, Super Bazars, Hypermarkets, need large amount of investment along with expertise in organisation and Management. These are organised on Joint stock company basis where in required financial, managerial resources are assembled from different sources. Big Bazar is owned by Pantaloon group ‘More’ belongs to Birla Group, Walmart Metro, are all MNCs.

30. Chain Retailer:

Retail units may have their own chain retail outlets that are spread locally or in a wide geographical area. e.g. Videocon Gallery, Titan, Raymond’s, Sangeeta (mobile), Bata are better examples, products are marketed through that chain of shops. It is a method of direct selling to the customer by the factory itself.

31. Franchisee:

A Franchise is a contract to market goods locally on behalf of manufacturer. Franchisee acts as an agent, provide shop, markets goods as per the terms and conditions laid down by manufacturer. Franchisee gets commission for his marketing service. Firms like McDonalds, Pizza Hut, KFC, NIIT are marketed through this system of retail.

32. Co-Operative Stores:

Consumers may form their own co-operative stores. They form their organization elect management that will manage business activities and co­operative retail store. Goods that are demanded by member consumers are acquired directly from factory and they are sold to members.

The benefits of this system are reasonable price, reliable quantity and guaranteed supply. Co-operative as a method of retailing is very popular in Maharashtra, Gujarat. Similarly there is producer’s co-operatives Small Produces form their own co-operative unit to market their product E.g. Khadi Bhandar, Priyadarshini.