Brands In Retailing: Trends, Opportunities and Challenges
Synopsis
With liberalization of the economy, the retail scenario has changed to a great extent; many sectors have opened up to private players. In hitherto government controlled industries, too, we have seen a spate of private activity. The increased marketing efforts of private players coupled with the changed stance of the incumbent public or government players, have given rise to an unprecedented scramble for customers. There was a time when only the national players were allowed to operate in the market and, at that time, the brands had a great edge over the retailers but, now the retailers are coming up with their own brands which are known as store brands. Now, with the coming of store brands, the national players are facing a strong competition from them. In the case of store brands, the profit margin is also very high; so, from the retailers’ point of view, store brands are generating higher revenues. But, at the same time, we cannot ignore the presence of the national brands as it is the national players, who are known to the consumers in a broader concept. Thus, books also have brought the reference of hybrid brands which is a combination of national brands as well as store brands. This book gives insights into the various roles played by the brands in retail industry. Its contemporary approaches towards branding in retailing sector also help in enhancing brand awareness, creating a favorable and consistent brand image, leading to a long-lasting relationship with the customer.
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Bibliographic information
Naveen Das