MODERN TREND IN RETAILING.
Hey Guys,
it’s a lovely Thursday, a new day to Learn and have Fun. So let’s get started
on our Topic for today.
New Trends
have been introduced in Retailing Business because of the dynamic nature of
commercial activities. In order to enhance and facilitate business activities, new
ideas and Techniques have been introduced. These include: Branding,
Self-Service, After-Service, Vending Machine & Repackaging.
1. BRANDING- It is a Name, Term, Sign, Symbol, or Design or the
combination of all of them that an Organization uses to distinguish its goods
from that of other organizations. It is used to prevent product Adulteration.
Advantages
of Branding:
a. It ensures High Quality Goods.
b. It Prevents Product Adulteration.
c. It saves the cost of Advertising.
d. Branded Goods are easily recognized.
Disadvantages of
Branding:
a. Lots of money will be spent on
Advertising Branded Goods.
b. Branding can make the Consumer to see
the Goods as Adulterated.
2. SELF-SERVICE- It is a system which encourages people in helping themselves
rather than be served. The goods are displayed with price tag for customers to
move around and select their choice without the assistant of the attendants.
Features of Self-Services:
a. Customers move around to make choice
of their goods.
b. Goods are displayed with Price Tag.
c. Goods are paid at the desk on leaving
the shop.
Advantages of
Self-Services:
a. Purchasing is quick and fast.
b. There is chance to make choice.
Disadvantages of
Self-Services:
a. Less Personal Attention is given to
customers.
b. There is no opportunity to inspect
the Pre-Packaged goods.
3. AFTER- SERVICE- It is an extra service tendered to the customers after
purchasing their products in order to ensure constant patronage. These may
include: Replacement, Maintenance and Repair of Faulty Parts.
Advantages of After-Service:
a. It brings Increase in Sales.
b. It makes customers to have confidence
of the durability of their goods.
Disadvantages of
After-Services:
a. High Price may be charged for extra
services.
4.
PRE-PACKAGING- It is system were Retailers sell
goods already weighed, measured and packaged by manufacturers. For Example In
Fruit Stands or Markets, The Quantity of Orange for instance for each price has
been weighed out already.
5.
PERSONAL SELLING- It involves the direct personal
contact of sellers with the potential buyers with the view to making sales.
This concludes our session for today, Hope you had fun as well as understand
what we discussed today? For your questions contact me on dividiamond@
gmail.com. Remain ever Blessed and remember you are for SIGNS & WONDERS.
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