A marketing channel is an organized network of agencies and institutions which, in combination, perform all the activities required to link producers with users to accomplish the marketing task. This channel must be designed such that it delivers a level of value to the customer that creates a sustainable competitive advantage for the supply chain.
Today, our main focus is on “Retailing” aspect. Retailing involves all the activities of selling products and services to consumers for their personal or family use. Department stores, like Macy's, discount stores like Wal-Mart and K-Mart, and specialty stores like The Gap and Toys 'R' Us, are all examples of retail stores. Service providers, like dentists, hotels and hair salons, and on-line stores, like Amazon.com, are also retailers. Many businesses, like Home Depot, are both wholesalers and retailers because they sell to consumers and building contractors.
WHY IS RETAILING IMPORTANT?
As the final link between consumers and manufacturers, retailers are a vital part of the business world. 1. Retailers add value to products by making it easier for manufactures to sell and consumers to buy. It would be very costly and time consuming for consumers to locate, contact and make a purchase from the manufacturer every time they wanted to buy a candy bar, a sweater or a bar of soap. Similarly, it would be very costly for the manufactures of these products to locate and distribute them to consumers individually. 2. Retailers also provide services that make it less risky and more fun to buy products. They have salespeople on hand who can answer questions, may offer credit, and display products so that consumers know what is available and can see it before buying. 3. In addition, retailers may provide many extra services, from personal shopping to gift wrapping to delivery, that increase the value of products and services to consumer
RETAILER CATEGORIES & THEIR TARGET MARKET
Retailers sell in many different formats with some requiring consumers visit a physical location while others sell to customers in a virtual space. It should be noted that in Bangladesh, not all types of retailers are available.
My reflection paper focuses on the types of retailers available in Bangladesh and about their service. Different retailers provide different services to the customers. For instance, the customer service at Agora will be far different from the customer service of the city market. The target market is also different for each retailer. The target market of Bangladeshi retailers can be categorized in the following sections:
STORE RETAILERS IN BANGLADESH
Store retailers are quite popular in Bangladesh. Types of retailer available in our country are as follow:
1) Department Stores
These retailers are general merchandisers offering mid-to-high quality products and strong level of services, though in most cases these retailers would not fall into the full-service category. While department stores are classified as general merchandisers some carry a more selective product line. For instance, while Sears carries a wide range of products from hardware to cosmetics, Nordstrom focuses their products on clothing and personal care products. In Bangladesh, the most common name is Almas, Priyo and PQS. It is easy to find toys, cosmetics, apparels, shoes and so forth. So the range of products sold by them is highly diversified. The target groups for these retailers are specialty market.
2) Category Killers or Big Box Store
Many major retail chains have taken what were previously narrowly focused, small specialty store concepts and have expanded them to create large specialty stores. A large retail chain store that is dominant in its product category. This type of store generally offers an extensive selection of merchandise at prices so low that smaller stores cannot compete. The...
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