Tweet

The Retailer and the Community

Written by: Nilesh Shah

Article Overview: As the retail industry is booming, more and more people are coming in with one or the other range of products and services to earn more than what they are currently. Here are a few tips that may help you in establishing yourself as a brand in the competitive market.

The Retailer and the Community

New people entering retail ventures have one or more of the following queries. We often hear them saying:

- How to get the price/quality mix right?
- How to find out what customers think of your service, and what changes they might like to see?
- How to increase feelings of ownership or patronage among customers?
- How to increase business through improved community relations?
- How to get involved in the community through charity, sponsorship, and local initiatives?

Before entering into any venture, specially retail, as because retail is booming today, you must be very careful while making selection. The selection process applies to retail space you invest in, kind of products and services you offer, targeted business area or customers and more.

Because every now and then we hear that a mall is coming or a new food court is opened or let us spend this week end at new multiplex.

To avoid such issues and stay away from the after effects, do proper homework. This homework includes:

1. Researching your market - Look for Competition

2. Making the business stand out - Product and Services you offer

3. Socially responsible retailing - Taking an ethical stance

4. Getting involved with the community - Your community will work for you

5. The Law - As it applies to retailing

6. Advertising, an investment in sales - Sell Yourself

7. Creating a brand for yourself or your store - Stay ahead of the Competition

Related Articles
  "The Profitable Retailer" by Doug Fleener
  Emerging Technologies
  Customer Loyalty
  Community Involvement the Wrong Way
  Trent's Reid to head parent firm Tesco’s China biz

Article Tags: business area, charity sponsorship, community relations, feelings, food court, homework, initiatives, multiplex, new food, patronage, price quality, quality mix, queries, retail space, retail ventures, selection process



Related Forum Posts
Which kind of industries are you interested in? - Ecological or E-business or Investment or Finance or Management or Non-Profit or Retailer or others.
How do you "Give Back To the local or world Community?" - Elie Wiesel: This is the duty of our generation as we enter the twenty-first century -- solidarity with the weak, the persecuted, the lonely, the sick, and those in despair. It is expressed by the desire to give a noble and humanizing meaning to a community in which all members will define themselves not by their own identity but by that of others. We want to know what you do to give back to your community. When we say "Community" we mean the Human Community . . .around the corner or around the globe. Don't be humble here . . .This is where we'll all learn from each other. Don't be selfish . . .You BRAG we LEARN. Let's help each other ALL make a difference. . . . One person at a time. If you're not involved now, maybe you could learn how right here. It's never too late to do good.
Re: Top Banner Help - Hi Evan! Looks great! Funky background! What would it look like with the 'Entrepreneur Community' in orange?
Top banner text orange? - Thanks Kevin - I believe Bennyboy meant changing the text "Entrepreneur Community" to orange instead of the background so I've put it on my list of things to try out. I don't have a good quality SEO for Africa picture to put in there but it's a good suggestion if we can grab one from an upcoming event!
Re: How can I use this forum to market my company? - Hi Diane, Welcome to our Entrepreneur Community Forum. Can you tell us a bit more about what it is that your firm does? Who are some of your clients? Who would generally seek your services? The best way to utilize this forum is to be around to be resourceful. Many entrepreneurs hang around here, sometimes to create a presence, sometimes to learn and sometimes to seek partnership. I believe that many will often find a solution to a problem that they didn't realize they had. There are plenty of opportunities. Looking forward to seeing more of you!


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Too Many Sales Reps Are Wimps

Five keys to business success

Creating a Better Place to Work

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.