Trade marketing – advertising strategies for trading companies
Trade marketing is aimed at corporate management that successfully targets various markets relevant to trading companies with high sales. The term was coined in 1974 and has long since found its way into economics. Trade marketing is to be distinguished from so-called trade marketing, which refers to the marketing of manufacturers in the area of trade.
The markets in trade marketing
Four submarkets are relevant to trade when it comes to marketing. There are correspondingly effective strategies for each market. Thus one differentiates sales marketing, procurement marketing, competition marketing and internal marketing. These markets must be constantly controlled and the marketing measures must be adapted to the current requirements. It should also be noted that the markets are interlinked and therefore interdependent. This also applies to the respective marketing strategies. In addition to the four markets, the special features of retailing and the resulting buying behavior of customers must also be taken into account in general. Decisive factors are, for example, the importance of trade within the value chain as well as the possibility of cooperation and the formation of assortments.
Instruments in trade marketing
Different instruments and strategies can be used effectively in the various markets. To the sales market for example assortment and sales financing are to be assigned. On the procurement market the order strategy, procurement financing and procurement communication as well as the supplier service set the crucial course in marketing. The competition market must be thoroughly investigated and analyzed. Equally important are exchange of experience and comparison of operations. On a horizontal level, joint advertising can be useful. Finally, in the internal market, the fourth subarea, store design and product presentation are important. Equally important are staff training and efficient incoming goods inspection.
Goal in retail marketing: winning new customers
Ultimately, trade marketing is about the same goals for all retailers, store systems, online retailers or trade cooperatives: The customer is to be generated and retained in the long term through high product and service quality. This is achieved by securing market share against the competition, which in turn is made possible by systematically planned and consistently executed trade marketing. It is not enough to conduct pure sales marketing; all other aspects of trade marketing must also be taken into account and successfully included.
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