Wednesday, 8 June 2016

SHOPPER MARKETING - The Path-To-Purchase-and-Beyond

Shopper Marketing differs from Consumer Marketing mainly because the consumer and the shopper are not necessarily the same entity and a shopper of a brand or item typically browses that brand or item in different media or channels.

Shopper Marketing targets the individual or prospect in a shopping mindset, says Venky Shankar - Professor and Coleman Chair in Marketing and Director of Research, Center for Retailing Studies, Texas A&M University.

Here are few excerpts from his publication SHOPPER MARKETING 2.0.

Shopper Marketing is the planning and execution of all marketing activities that influence a shopper along, and beyond, the entire path-to-purchase, from the point at which the motivation to shop first emerges through to purchase, consumption, repurchase, and recommendation.

The Indian retail industry with the largest number of retail outlets (12 million stores) accounts for 10–11% of GDP with sales a turnover of US$ 456 billion and constitutes 6% of the total employment. The organized and the retail market share is pegged at 5% (US$ 21 billion) of the total sales and is growing at a CAGR of >25%.

In this new environment, to formulate and executive effective shopper marketing strategies, managers need better understand the complete picture of how online, offline, mobile, and in-store marketing influence shoppers in the path-to-purchase-and-beyond cycle.

The rapid rise in shoppers’ use of mobile devices, medium, and channel and the widespread use of social media are enabling manufacturers and retailers to use out-of-store shopper marketing activities through this medium and channel.

The end goals of Shopper Marketing are to better meet shopper needs, improve customer relationships and loyalty, increase sales, and enhance return on investment. To achieve these goals, manufacturers, service providers, and retailers must focus their shopper marketing activities on influencing shoppers, increasing the probability of purchase through all the stages in the path-to-purchase-and-beyond.

Share your thoughts on Shopper Marketing in the comments section below!

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