MARKETING MANAGEMENT

ASSIGNMENT

MULTI
MULTI-CHANNEL
CHANNEL MARKETING FOR
RETAIL BRANDING AND SERVICES

Submitted by
by,
SANDRA MARIYA KOSHI
BBA LLB
ROLL NO: 26
4TH SEMESTER

0|Page
 TABLE OF CONTENT

MULTICHANNEL MARKETING ........................................................................................... 3

What is Multichannel Marketing? .......................................................................................... 3

Benefits of multi- channel marketing ..................................................................................... 4

RETAIL BRANDING AND SERVICES .................................................................................. 6

ROLE OF MULTI-CHANNEL MARKETING IN RETAILING ............................................ 7

How businesses can benefit from multi-channel retailing ..................................................... 7

What are the challenges of multi-channel retailing? .............................................................. 8

types of sales channels in retail branding and services .......................................................... 8

APPLE’S MULTI-CHANNEL MARKETING STATEGY ................................................... 10

CONCLUSION ........................................................................................................................ 11

BIBLIOGRAPHY .................................................................................................................... 12

LIST OF TABLES / FIGURES

Multichannel Marketing……………………………………………………………………..3

Benefits of multi- channel marketing………………………………………………………..4

Why do you need a multi-channel marketing strategy………………………………………5

Retail marketing……………………………………………………………………………...6

How top 5 brands use multi-channel marketing……………………………………………..9

Apple – strategy…………………………………………………………………………….10

1|Page
 INTRODUCTION

Marketing is everywhere and it affects our day- to-day life in every possible manner.
Formally or informally people and organizations engage in a vast number of activities that
could be called as marketing. Good marketing is no accident, but a result of careful planning
and execution. It is both an art and science. Management is the process of getting things done
in an organized and efficient manner. Marketing management aims at efficient operation of
marketing activities.

Marketing management smoothen the process of exchange of ownership of goods and

services from seller to the buyer. Marketing management, like all other areas of management
comprises of the function of planning, organizing, directing coordinating and controlling. It is
important to get satisfaction of customer’s needs and wants by delivering them, appropriate
goods and services according to their needs and wants, at right time and through convenient
channel. All companies must choose the set of channels they think will be most effective. The
possibilities, as we have seen, are almost unlimited. Selecting the correct channel requires
careful analysis, particularly since the decision usually involves a heavy investment of time
by managers and salesmen and goes far in fixing the rest of the marketing plan for some time
into the future.

Retailing is the combination of activities involved in selling or renting consumer

goods and services directly to ultimate consumers for their personal or household use. In
addition to selling, retailing includes diverse activities such as, buying, advertising, data
processing and maintaining inventory. In this paper there’s an analysis of Multi-channel
marketing for Retail branding and services.

2|Page
 MULTICHANNEL MARKETING

What is Multichannel Marketing?

Multichannel marketing can be defined in a number of ways, but at the most basic
level it breaks down as follows:

Multichannel marketing is the implementation of a single strategy across multiple

channels or platforms, thus maximizing opportunities to interact with prospective customers.
A channel might be email, a print ad, a retail location, a website, a promotional event, a
mobile app, SMS messaging, a product’s package, or word-of-mouth.

In today’s competitive environment, businesses can’t afford to have a single-channel

marketing strategy. Leveraging multichannel marketing is the new standard. Running a
robust multichannel marketing campaign increases lead generation, lead conversion, and
revenue. But it’s critical that you have a proper plan in place to run an effective multichannel
marketing campaign.

Multichannel marketing involves using multiple channels for interacting with your
customers and prospects. The aim of multichannel marketing is to engage your prospects and
customers through every possible channel. Interacting through multiple channels increases
the effectiveness of a business’s customer interactions. Customers look for multiple channels

3|Page
throughout the purchasing cycle. According to a Forbes report, 46 percent of retailers say
that customers research products on the web but prefer to make actual purchases in a store. 33
percent of retailers say that customers make online purchases and 18 percent say that most of
the customer purchases happen in a store. This shows that customers use multiple channels
before making an actual purchase. Thus, it’s essential for businesses to leverage a
multichannel marketing approach.

Benefits of multi- channel marketing

1. Greater exposure: Multiple channels enable the company to get your message
across to more people than it could through a single channel. The more people reach, the
greater will be the ability to spread word-of-mouth marketing. For instance, recipients can
forward your e-mail message or share your social media posts with their followers.
Multichannel marketing will help to target audiences via direct email, social networks and
other digital channels.

2. Increased patient engagement: Today’s patients are no longer glued to a desktop

at home. They are engaged across various devices, apps and platforms – each serving a

4|Page
unique need and preference. By strategizing your marketing campaign across multiple
platforms, you will see a higher engagement rate and conversion rate.

3. Reinforced messaging: Each channel offers a variety of formats and elements in

messaging. When you align the strengths of your brand with the capabilities of multiple
channels, you have a tremendous opportunity for delivering a strong message. The impact of
multichannel campaigns sets the table for a prospect to react instantly to a well-crafted e-mail
or social media campaign. You can also reinforce themes that highlight core benefits for the
targeted audience.

4. Acquiring more leads: When you reach more audience and have an impactful
message, you can generate more leads. Prospects who have seen your content on other
platforms are more likely to call your office for an inquiry or to book an appointment. In
multichannel marketing, the messages get posted on multiple channels, which makes it easier
to collect data on the target audience and their behaviors. Over time, messages that drive
leads can be amplified, resulting in more precise and impactful messages for your target
audiences.

5. Improved conversion rates: You can achieve higher conversion rates and higher
return on investment from the synergies of different channels. Your consistent messaging will
connect with the right prospects in a setting that influences their decisions. Repeat business
may get a boost, as well, since satisfied patients will experience your reminders across
multiple
channels.

5|Page
 RETAIL BRANDING AND SERVICES

The word retail is derived from the French word Retailer, which is to cut a piece, a
break down. Retail as trade has developed over the period of time, from un organized street
vendor
dor or seller like ‘SUBJIWALA’ to organized shops like super bazaars, Departmental
stores. Today we see revolution in the field of retail business with entry of ffirms
irms like ‘Big
Bazar’ ‘More’ McDonald, Walmart that are not just delivering goods, but also satisfying
needs and wants of people there by ensuring customer -delight.
delight. Retailing has developed as a
more organized activity adopting functions of marketing in distribution
distribution of goods or service.

American Marketing Association – outlined “Retailing consists of activitie

activities involved in
selling directly to ultimate consumer for personal or non
non-business
business use. It embraces the direct to
customers sales activities of the producer, whether through his own store, by house to house
counseling or mail order business”.

As per the definition

inition any one i.e., manufacturer or middlemen or retailer selling
directly to the final customer through any kind of sales outlet is doing the business of
retailing. Just
st like there are many different types of brands, there are lots of different types of
branding out there. Branding isn’t one-size-fits-all;
one all; the most effective strategies are
a highly
personalized to the companies, groups and creators using them. That’s because it’s all about
personality.

Retailing chain is a network of one-format

one format retail outlets, which are united by a single
system of logistics, product and price policies, promotion policies, and customer service
principles. retail branding is the developmen
development of a brand for a retailing
ing chain. It includes a
set of works on the creation of graphic and ve
verbal components of the brand.

6|Page
 ROLE OF MULTI-CHANNEL MARKETING IN RETAILING

Multi-channel retailing is a business strategy that offers your customers different sales
channels to purchase from you. It is often mistaken for omni-channel retailing. The most
common types of sales channels typically include physical stores, online stores or ecommerce
platforms like Shopify, third-party marketplaces such as Amazon, social media platforms
such as Facebook Marketplace and Pinterest, and mobile applications for shopping on the go.

How businesses can benefit from multi-channel retailing

Since multi-channel retailing is an improvement over the most common strategies, let’s
compare it with single-channel retailing to get a better grasp of its benefits.

 Better revenue

Even after the company invests a lot of money on advertising and marketing and establish
brand awareness, if your customers have only one way of buying, it won’t necessarily
increase revenue. But by spreading business across multiple platforms, could pop up more
often into a prospective customer’s view and therefore receive more attention. This will give
them the time needed to browse through your store, compare prices, and do their research
which is necessary for them to buy from you eventually. Improved revenue is by far, the most
prominent advantage that multi-channel retailing displays.

 More ways to buy

Like any other skeptical person, most customers would hesitate to buy from a business
that they stumbled across once. And if that one viewing is all they ever get, then the chance
of them remembering business and looking for you is impossibly low. With just a single sales
channel, all your customers would be forced to buy from a brand using just that channel.
So with multi-channel retailing, you can offer your customers multiple ways to buy from
you, from which they can select one based on their comfort and convenience. This will give a
competitive advantage over single channel businesses. Simply put, more ways to buy from a
company could mean more customers.

 Collect valuable data on customer purchases

7|Page
 Multi-channel retailing allows to collect a lot more data on customer purchases compared
to a single channel. By doing this, you can tell which sales channels your customers seem to
prefer and which ones they don’t, so that you know what specific parts of your
business to work on and how to promote your business. Additionally, with a single sales
channel, company wouldn’t be able to compare sales with any other channel. Comparing
several channels gives more perspective.

What are the challenges of multi-channel retailing?

Although multi-channel retailing is a helpful strategy, there are a few factors that businesses
need to consider before implementing it:

 Difficulty coordinating inventory across sales channels

By far, the biggest challenge when it comes to multi-channel retailing is the difficulty of
managing inventory across all the different sales channels. This is because each channel is
independent of the others—so a change in one channel will not be reflected in the others
unless they are manually updated.

 Costly investment

Multi-channel retailing is expensive. On its own, it might not seem to cost that much, but
when added to other pricey business expenses like marketing ventures and advertisements, it
could sum up to be a large amount of money. It is especially costly if you plan on setting up a
lot of channels. This is because each channel will require you to incur another round of
expenses, like setup costs, customization, and hiring employees to manage it.

types of sales channels in retail branding and services

Store Channels

In this approach, companies sell their products from a physical outlet. The customers can
interact with the product physically. In this multi-channel form, payments are made through
cash transactions or through card/mobile payments. The risk of purchasing the wrong product
is none and the customers have confidence in the product quality.

Catalogue Channels

In this approach, catalogs are printed and delivered to potential buyers who can place their
orders anytime. These sales catalogs include all details related to offers and its prices.

8|Page
Catalogs can be dispatched through postal mails or emails. Catalog is important in enhancing
business exposure as well as brand building. This type of channel communicate
your brand information through visual means and ease your customers’ decision making
process.

Internet Channels (Amazon, eBay)

Internet sales channels like Amazon and eBay are those online marketplaces where products
are displayed for online audiences so as to enhance their purchasing decision. As a matter of
fact, online availability is very important and companies should be very competitive in this
aspect. Today customers buying decision is dependent on the availability of information
about the products and services your offer in the market pl
place.
ace. Internet is the first choice to
know all the information before they proceed to retail store.

Social Media (Facebook, Instagram)

Some businesses have developed their business around social media platforms through
utilizing advertisement channels,
channels for instance, Twitter, Facebook Instagram. Now online
shopping has become very convenient for customers to buy products without leaving the
social media website

9|Page
 APPLE’S MULTII-CHANNEL MARKETING STATEG
GY

Apple is considered a”” retailer which means Apple operates both physical and online
stores. However, the situation with Apple’s physical retail stores is unique. Rather than being
designed for sales, Apple Stores are primarily designed to complement Apple’s eCommerce
business which accounts for the majority of total sales.

In this way, Apple’s physical stores function as customer touch points that support the overall
Apple experience. Since the physical stores aren’t
aren’t necessarily focused on retail, customers
can visit Apple Stores without feeling like they need to make purchases. And with customers
making more frequent trips to physical stores, Apple is able to drive more brand immersion.

Beyond advertising and using retail stores for customer support, Apple hhas
as focused on
developing services to build more demand for Apple hardware while providing additional
revenue streams. Prime examples include Apple News+, a premium news subscription
service available
lable only on Apple hardware, and Apple TV+, a Netflix-esque
esque streaming service
that will primarily be available on Apple hardware.

Also of note, Apple’s multi-channel

channel marketing strategy is built
built around specific branding
guidelines. This allows Apple to maintain a consistent visual style across all marketing
materials in addition to Apple’s website, apps, services, and retail stores. Even Apple’s
computing devices and other hardware share eleme
elements
nts of a common design language. This
does a lot to give consumers a very “Apple” experience no matter which sales channel is
delivering it.

10 | P a g e
 CONCLUSION

Multichannel marketing is based on the fact that customers have more choices than
ever in terms of getting information on products. The spread of available channels, including
the growth of email, social media and mobile, has caused marketing departments to increase
their presence on these channels in order to develop their customer relationship management
(CRM) efforts. The old ways of marketing, such as using print sources, telemarketing or
broadcasting on radio and TV are no longer the sole focus of marketing departments. These
methods are still present, but are part of a bigger strategy that includes new media and evolve
along with changing customer tastes and communication preferences.

Companies strive to develop analytics in order to determine which customers get

which messages based on their demographic information and other behaviors. Beyond
knowing who the customer is and what he/she wants, companies try to understand which
channel a particular customer prefers to maximize the visibility of their messages. This
enables companies to target the right audience with the right content to facilitate sales.

To have success in multichannel marketing, or any other digital marketing, efforts,

companies aim to devise campaigns that span multiple channels easily. Since expecting
customers to adapt to the company's preferred channel is an unrealistic hope, companies cater
to the customer and tailor campaigns to fit multiple channels. Another goal of companies is to
know which campaigns on which channels lead to the most sales, enabling them to determine
the effectiveness of their efforts and measuring the return on investment of their presence on
each respective channel.

Companies can coordinate their online and offline marketing efforts in order to
optimize both. For example, keyword testing from online marketing can inform the
effectiveness of certain campaigns before they are made into print ads or other
advertisements.

11 | P a g e
 BIBLIOGRAPHY

 www.marketing-schools.org

 www.tutor2u.net

 www.businessmanagementideas.com

 www.marketingtutor.net

 www.investopedia.com

 www.tradegecko.com

12 | P a g e