# data[].attributes.body
Advertising: paid, non personal communication transmitted  outside of the store. An example of this would  a tv commercial or a billboard on a highway.
Advantages: Attracts a large audience, and is low cost per contact
Disadvantages: Standardized messages lack flexibility, and can require large amounts of investment

Public Relations: communications that fosters a favourable image for the retailer that is done by a person, could either be paid or not paid, and it could be controlled but it doesn't have to be.
Advantages: immediate feedback; interactive nature (can utilise product demonstrations)
Disadvantages: costly; time-consuming

# data[].attributes.body
Personal selling: verbal communication with customers to sell a product.
Advantages - can get immediate feedback; message can be changed for different customers
Disadvantages - costly; negative attitude towards sales people

Sales promotion: encompasses the paid communication activities other than advertising, public relations and personal selling that stimulate consumer purchases and dealer effectiveness. An example would be contests or sweepstakes held in a store.
Advantages: draws customer traffic, eye-catching appeal
Disadvantages: short-term effects, may damage retailer's image

# data[].attributes.body
Firm 1:

Bunning’s Warehouse – position themselves within the market particularly through product and place.

Many of its retail outlets are designed like large sheds, and the inside of its stores are also laid out like sheds.

Its stores are quite large, and generally positioned near big car parks, which make it easy to access and convenient for customers to visit.

It is also generally situated near a series of other, large, warehouse like stores in a lot, or by itself.

Product wise, Bunning’s warehouse sells products for home renovations, gardening and other things for the house – both interiors and exterior products.

It specialises wholly in this, and this is what people automatically associate Bunning’s with when they think of the brand.

Bunning’s uses a variety of techniques to suggest to its customers that its prices are extremely competitive. It does this through its newspaper style advertising material, its radio and television ads and even its logo that is simple and represents economically sound principles.

The people Bunning’s employ are trained to be very helpful and informative and also understand the importance of helping people achieve the best results. Which also plays into the concept of ensuring customers get the best deal and the best value for money that they can. Employees are polite, and given their knowledge and expertise on the products, can help customers find the best products for their needs. This is what differentiates Bunning’s from other hardware stores.

Promotion – Bunning’s has regular specials on their products which they advertise though a variety of channels. Their main advertising tool is catalogues sent out to peoples homes, and ads in newspapers.

Their specials position them as selling their products at the most competitive prices in the markets, and their slogan is that they will beat any lower prices of competitors.

“Bunning’s warehouse – lowest prices are just the beginning”

Price policy

# data[].attributes.body
Define - Customer service & sustainable competitive advantage?
It has been determined that retaining a consumers business is much more cost effective then trying to build on new customer base.

Buying focusing on building relationships with customers retailers increase the likelihood of repeat business and loyal customers.
Examples;
Apple store - Multiple and knowledgable staff to assist customers quickly and efficiently.
Coffee Shops - Customer loyalty cards - buy 9 get the 10th free.
Provide a contrast with low service retailer.

# data[].attributes.body
Everyday Low Pricing: Retail strives to sell its goods and services at consistently low prices throughout the selling season.

Advantages:
- Strategy is easy to grab customer's attention/ customer understanding
- Low fixed costs: Enables a store to develop infrastructure and supply chain efficiencies.
- Clear marketing message: Every item in store will always be available for a low price
Disadvantages:
- Perception of poor quality
- Price wars: Competitors can lower their prices to beat yours. If promised to beat every competitor's price, it may fall prey to sell below cost just to capture customers
- Reduced profit margins
- Poor vendor relations: Aggravate vendor if haggle for lower prices constantly

High/Low pricing: Prices pitched at market price and discounted for short periods of time

Advantages:
-
Disadvantages:
-

Cost-plus margin: Retail prices determined by simply adding a fixed profit margin to each item

Advantages:
- Knows exactly the amount of expenditure that has incurred on making a product--> therefore they can add profit margin accordingly, helps in achieving desired revenue for a firm.
Disadvantages:
-

Competition oriented: Comparable goods priced exactly the same or similar to competitors

Advantages:
-
Disadvantages:
-

# data[].attributes.body
Independent ownership provides many advantages such as flexibility in the type of format, the location and strategy. Control over investment costs, personnel functions and strategy, and the store image. For example, a local retailer such as Carnegie Florist has total control over the chosen location (place) how it is run and staffed, products sold, prices, opening hours, and the store interior, and exterior, and promotion. Some disadvantages include a lack of bargaining power, no economy of scale, it can be labour intensive, and the store is often overly dependent on the owner, both in terms of the customer preferring to deal exclusively with the owner, and them having to do most tasks associated with the store.

# data[].attributes.headline
Assortment refers to the selection of merchandise a retailer carries. 

# data[].attributes.subject
Assortment refers to the selection of merchandise a retailer carries. 

# data[].attributes.body
Breath (width) is the number of distinct goods/service categories (product lines) a retail carries. Depth refers to the variety in any one goods or service category a retailer carries (product line) It is the number of SKU's (stock keeping units)
examples: Myer verses 7-eleven. Go into detail

# data[].attributes.body
A private label strategy is when a retailer or supplier produces its own products through a third-party manufacturer, under the retailer’s own brand name.

# data[].attributes.body
1.     Creates competition between other private retailers and home brands. For example, Woolworths and Coles have created their own private label brands for products, competing with other brands sold in store, such as cleaning agents, and other perishables.

2.     Higher profit margins than home brands that are resold because the cost of manufacturing own products is much lower. Therefore, the private label retailer can also offer competitive prices. For example, Myers has created its own brand called Miss Shop that provides similar products but at a competitive price to the other brands sold in the department store.

3.     Exclusivity – Have sole/exclusive rights to sell your products. Can separate yourself from your competitors, and can market it in a way that creates demand --- making you your customers’ only source. Can charge premium prices and have more control over prices, marketing, sales and distribution. For example high-end brands such as Hermes do not distribute their products to third party retailers to retain its exclusivity and maintain control of its products sales.

4.    Allow retailers to provide a specific style or product to a customer quickly.

# data[].attributes.body
1.     Some private label products may be of low quality offerings at a low price point.

2. Majority of private label products lack innovation and products improvement, as the sole purpose is to compete with other branded (home brand) products.

# data[].attributes.body
1. Lower chances of  business failure
2. Training in how to operate the franchise is provided
3. Brand promotions and marketing strategies are centrally organised
4. Training sometimes available for staff
5. Easy access to business entry for some people

# data[].attributes.body
1. High set-up costs
2. Lack of independence to be innovative
3. The requirement to pay franchise fees to the franchisor
4. Lack of freedom in choice of suppliers
5. Franchisor may select the wrong people as franchisees