Principles of marketing
Major trends in shopping center development
One of the notable developments in the retail market business is that there have been emergences of open shopping malls whereby a multiple of businesses are conducted under one roof. The development of the new shopping malls has caused a paradigm shift in the retail market business whereby business people and retailers have opted for the open market stalls as opposed to the enclosed shops. Analyst have attributed the growing trend in the retail market business to the harsh economic times thereby causing retailers in the market to find new ways of cutting down their expenses (Danielle Walker, 2010). The new move has therefore seen retailers shift from the enclosed stores to the open shopping stores whereby the rent is said to be cheap.
Some of the examples of the enclosed shopping included the town centers and power centers. The development of the town center and the power centers has enabled retailers to share one shopping mall, a move that has been regarded by economic analyst as an easier way of attracting customers and marketing different products under one roof (Danielle Walker, 2010). An example of an open shopping store that has benefited the retailers is the Landstown Commons. The 509,192 square foot shopping store located at the Virginia Beach is regarded as one power center which has assisted retailers a great deal in the retail market business.
The development of the power centers has also motivated retailers in the market whereby other than improving their businesses they have been innovative enough and started other businesses that did not exist. This has been influenced by the great opportunities created by the power centers as well as the growing demand by the consumers.
Wal-Mart is one of the largest retailers in America that has attracted a large consumer base through its various products market. One of the key reasons as to why Wal-Mart as a retailer has won the trust of more consumers is the fact that it has been in the market for long having been established in 1962 and thereby spreading its services across the world. In addition to its chain of stores across the retail market, Wal-Mart has offered discounts to its consumers over the years thereby been regarded as the favorite shopping mall (Danielle Walker, 2010).
The offering of discount to the consumers has been seen as one of the secrets that Wal-Mart has used to penetrate the retail market since its slow start in the business. Wal-Mart’s marketing policy of offering low priced products has increased its consumer base whereby low-income households have mostly benefited from the retailers goods and services (Danielle Walker, 2010). By studying the retailers shopping trends it can be concluded that the main target market for Wal-Mart is the middle level and low-income households.
A recent advert
One of the product that I can recall been advertised was the reduced calling rates of one phone line subscribers in my country. The advert was so catchy in that it was so timely and it reflected the demands of the people especially at this hard economic time. From my view the advert was so informative since it was sensitizing consumers in the market of a cheaper way of communication therefore giving them a chance of saving an extra shilling. The advert was also very persuasive to the consumers since it offered a unique package from the rest of the service providers in the market.
Identify and discuss a marketer who is effectively using comparative advertising. Explain your thoughts.
Comparative advertising is regarded as the form of advertising whereby a company takes advantage of its competitor’s weaknesses as a key selling point in its marketing strategy. In its adverts the company can directly or indirectly make references to its competitor in order to woo consumers into purchasing their products.
An example of a marketer using comparative advertising in the retail market business is Wal-Mart. The marketer has effectively used the form of advertising by offering discounts and lowering prices of its products in the market. This Marketing strategy has proved to be a key selling point for the marketer since it has penetrated the market thereby increasing its consumer base in the retail market.
My reaction to the manager’s decision
First and foremost it will be in order to admit that the manager’s decision is not right on a consumers’ point of view and so it is incorrect for him to make that decision. This is because the decision can affect the business negatively if the consumers realize the actions taken behind their back. However, in my capacity as a worker in the restaurant my personal decision to correct the issue may not be welcomed by the manager since it can cost me my job.
I therefore would stay mum on the whole issue in order to save the image of the business. In addition to this, from a professional point of view the manager’s decision is correct since sometimes in business you have to make some tough decisions for the sake of sustaining the business. It is said that tough times call for tough decisions.
Wlker, D. (2010). Development trends. Inside business .