SHANTO-MARIAM UNIVERSITY OF CREATIVE

TECHNOLOGY

Module Name: Fashion Retailing & Visual Merchandising

Module Code: MKT 4107
Topic: Mid Term Assessment

Submitted to:
Suhal Ahmed
Lecturer
Dept. Of AMMT

Submitted by:
Zubair islam
ID: 173051006
Group: A
Semester: 10th
Batch: 31st
Media based retailing of Bangldesh

Media retailing is the selling of goods and services outside the confines of a retail facility. It is a
generic term describing retailing taking place outside of shops and stores (that is, off the
premises of fixed retail locations and of markets stands).

Media Retail is marketing to consumers at or near their point of purchase, or point of choice
between competing brands or products. Common techniques include in-store advertising, online
advertising, sampling, loyalty cards and coupons or vouchers.

As the study shows, Bangladesh is entering its own period of demographic dividend, meaning
that the proportion of young people in the next 25 years will be the highest in the history of the
country. And this is a golden opportunity for Bangladesh to tap into the promise of Media retail
by building a viable e-commerce ecosystem that will transform the country’s economic
landscape. Another Asian neighbor, China, has already shown that e-commerce can easily
become the key drivers of the economy, with favorable policy and government commitment.

The term media refers to the Internet-based buying or sale of goods, products or even services.
E-commerce purchases vary from the obvious things like online retailing, online media outlets,
online shopping, etc. to the more important items like digital payment, online banking and even
the procedures of public administration. In this article we will concentrate on the information
needed to start an E-commerce company in Bangladesh.

There are several types of media retailing

Radio,

Television

Billboard,

Online site,

Magazine etc

Opportunites

Easy access to market

Reduced overheads

Potential for rapid growth

Widen market / export

Customer intelligence
Difficulties

Delivery Problem

Unfriendly Returns Policy

Pricing issues

Product problem

Negative experience

Customer trust

Additional charges

Images not done right

How to overcome the Difficulties

Being honest as well as transparent about what customers can expect from your company from
your brand from the very first interaction is one of the most vital elements to keep customers stay
with you in the long term. The information about your contact, credibility badges, pricing, any
policies, customer reviews, and testimonials, etc. should be displayed clearly on your website.

To build a strong relationship with customers, it is nothing more effective than sharing values,
which actually means to them. When customers use your service or product, they will definitely
have questions related to its features. The typical way to find the most inside about it is through
detailed blogs. Then, we can say that if you are a trusted expert who can address all of the
customer concerns by providing them the knowledge in your field, you get more chances to
increase customer’ loyalty.

Return and Refund

Returns have long been the enemies of many retailor brand. This situation is swelling to a
worrisome level as more and more consumers are switching from physical stores to online.

According to the Star Business Journal, Ecommerce return average is about 20 percent,
compared to only 8-10 % percent of physical store purchases. Worse, at holiday time, the online
return can reach 30 percent. Not mention the fact that the majority of retailers simply are not well
equipped to tackle the influx of returns online shipping generates.

Stated in the Intermec study, 52% of distribution center managers lack either abilities or
resources to determine whether returned products should be sent to the vendor, moved into
inventory, or discarded and 44% of distribution center managers said that returned items as a
“pain point” in their operations. Although return can be a nightmare to online business, they are
still reluctant to take serious action to make their policy stricter because they may lose
customers.

So, there must be a reason why this is the ticking time bomb of e-commerce returns.Firstly, it has
must be due to the convenience of delivery. Back in the day, outbound shipping almost cost
money, and free returns and exchanges were virtually unheard of. But everything changes!
Nowadays, the direct to customer business dominate eCommerce trend a, no cost shipping is
nearly ubiquitous, then hassle-free return and refund are a new normal.

Another major challenge faced by online merchants is price and shipping competition. When the
same product is provided by many retailers, price becomes the sole differentiator for all
eCommerce business. Today, consumers have inflated expectations of the eCommerce site, and a
major of them keep an eye on the price before deciding to place an order.

Pricing & Shippings

While consumer demand grows considerably, the price war aided by price monitoring software
makes life tough for any business that operates in this space. For small and even medium
eCommerce stores, price wars can be so difficult and time-intensive. That is because they not
only have to be price-competitive with major retailers but also at the same time pay attention to
competing for eCommerce stores, keep low prices, make a profit, but still satisfy customers. On
another hand, large competitors are not likely to be affected as they can offer products for less.
Combine with shipping amenities distributed across the country, warehouses, and close facility,
and they have more advantages to win the game.

Leave no hidden cost for the purchase tab

Provide more than one shipping carriers

Offer free shipping

Digital Payment Failures

Whether a customer makes online payment by credit, debit card or net banking, or any other
digital wallets, failure of digital payments can be frustrating. A technical issue with your website
or faltering internet connection results in the payable amount being debited from the customer’s
account but the same is not credited to the seller’s account. Retrieving the amount isn’t a quick
process. It should be clearly mentioned on your website that it may take around 7-10 working
days before the money is refunded to their bank accounts. Such situations can improve with
cashless transactions. Tips on payment gateway integration.