These days, brand building and development is more complex than it was in the past. Retail Marketing or Retail Branding has been more challenging ever now.
The concept of Retail Branding
Retail Branding provides an overview of the brand to maximum visibility. After being visible automatically it drives to more sales, as every company wants at last. So its good for the company’s growth.
Retail Branding is famous as a very effective marketing tool to make a customer for remembering for a long time. It’s proved after various research.
We should always think about retail branding in an innovative way. These days every company does this and if any company think out of the box and it says to the customer that they are a bit different from others. If you are able to say something new whats connect to customers. Thus you will get automatic recognition and remembered for a long time. So we should think of something new, contemporary, innovative and creative. If we do this, will benefit for a long time.
Even though retailing has had the opportunity to be marketing oriented. Because retailers are in closer contact with customers than manufacturers, mass retailing has been slow to take advantage of this aspect. Higher priority placed on buying decisions, operational concerns, and short-term objectives than on strategic marketing concepts. A lack of a well-defined differentiation from competitors criticized consequence in many retail sectors. Yet, this has changed. Mainly as a result of changing industry conditions and increasing management capability in retail companies. A change of attitude towards Retail marketing observed. Within the context of Retail branding, the relevance of establishing a clear-cut and differentiated profile is clearly recognized by retailers. And retail brands are systematically established and managed.
Principles of Successful Retail Branding
All retail marketing instruments affect the retail brand, as illustrated by the notion of the comprehensive retail brand image. That made up of a universe of interconnected associations. To develop a strong and successful brand, three basic principles mentioned in literature:
# Differentiation from competitors
# Long-term marketing continuity
# The coherence of different marketing components
# Achieving differentiation (in consumers’ minds) is a central characteristic of a retail branding. Higher levels of differentiation from the competitor expected to lead to higher profitability. Only brands that are well distinguished from their competitors can build up long-term customer loyalty. Also, avoid store switching by the consumers. Establishing a clear brand image is a long-term process. Brands established through consumer learning processes. Consumers store associations in their memory. Brand associations become stronger over time. It reinforced by repeated exposure to the same brand messages because they might otherwise fade away.
# The past investment in the retail branding is at least partly lost if the brand marketing changed. Thus, continuity is important. You must continue your branding as you did in past. Also, risk reduction is one of a brand’s main functions. Consumers trust a brand because it entails a standardized and uniform offer under a certain brand name. Some of the world’s most successful brands prove. That retaining the same brand message and communication (with slight variations) for years and even decades is one of the key prerequisites of successful Retail branding.
# The retail marketing mix includes all marketing instruments that a retailer can deploy. The term mix indicates that the instruments are not used in isolation. But that they jointly influence the consumer. To be successful, all marketing measures coordinated to ensure a close fit with one another and that all measures convey the same brand message. Because inconsistency makes a brand image fragile and consumers strive for internal harmony or congruity. In their knowledge and information (“theory of cognitive dissonance”), creating coherence between all the different facets of the retail brand is crucial for success.
Considering the complexity of the retail branding, ensuring a fit among the marketing instruments. And all brand contact points is challenging. Many companies are the example of successful brands that succeed in projecting a uniform image. With their store atmosphere, merchandise, pricing, communication, and service.
If you are looking for any kind of retail branding solution we will be there for you in a single contact.