Marketing Theory and Evidence Practice

Question: Discuss about the Marketing Theory and Evidence Practice. Answer: Introduction: The retailers should try to lengthen the time spent by the customers at the stores as this would increase the prospects of sales and the customers are more likely to purchase goods or services (Sharp 2013). The chain retailers are big entities which enjoy high levels of reputation and good will among the customers. These kinds of stores contribute less to the local economy and hence they can contribute more to their own growth and development. The traditional retailers have simple execution and they have fixed set of loyal customers who are the regular visitors in the retail shop (Pandey Bhardwaj and Mishra 2014). They have high revenue potential and they can make use of the internet while trying to reach out to the customers. They have low switching costs also. The competitors can learn from Zara by being sensitive to the feedbacks of the customers and giving high preference to them. They also focus on quality, affordable prices and the latest collection of merchandise. Zara brings production close to the demands of the customers. It has low supply chain management and they offer very fast delivery of the new products. This makes them sustain in the market. References Pandey, A., Bhardwaj, S. and Mishra, S., 2014. An empirical study of organized retailers and their impact on consumer's buying behavior.Asian Journal of Management,5(2), pp.121-124. Sharp, B 2013,Marketing: Theory, Evidence, Practice, 1st Edition, Oxford University Press, South Melbourne.