ECONOMIES OF
AGGLOMERATION :-
Although the
stores in the mall may not be related but locating close together gives them
the opportunity to use the same infrastructure. By doing this interaction with
the customer is easy and it also helps in cost reduction.
PRODUCT
DIFFERENTIATION:-
It is the
process of distinguishing a product or service from others, to make it more
attractive and alluring to a particular target market.
So, Shopping
malls too have a product differentiation like various categories of retail,
functional design differentiate malls. For example Apple,Samsung,Vivo etc
showrooms are present in the mall.
Customers
check and compare the products which they have purchased from different malls.
PEOPLE
RESPOND TO INCENTIVES:-
Shops which
provide price discounts,gifts,coupons and rebates offered by mall retailers
attract many customers and there is more traffic and rush on that shop. Hence,
incentives comes to play here.
PRICE
SENSITIVITY:-
Mall
provides discount offers on the product thus customer provide signal that they
are price sensitive by buying the products which offers discount. Because price
plays an important role as it affects the sales of a product.
IMPORTANCE
OF TASTE AND PREFERENCES:-
This concept
measure the feeling or aroma about particular store. Customers are very
particular about feeling or touch or smell for those products which they are purchasing
from shopping malls to get customer satisfaction, its all because consumers are
not identical each and every individual have different taste and preferences.
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