Brands in Retail Market Literature review Example | Topics and Well Written Essays - 2750 words

Brands in sell Market - Literature review ExampleBrands give products a unique identity element or name with the help of a name / design or logo which catches the imagination of the customers. A soft touch is an experience that lives at the intersection of promise and expectation. Your products are a way to deliver upon that promise. Forget features center on on the unique experience you can provide (Savard & Gallagher, 2010). The goal of retailers is to build strong brand identity to compete with other players in the industry. The cover discusses the implications and strategic significance of retail stigmatisation and its impact on customer choice and preference of stores. Introduction The retailing industry has gained increased prominence over the past tense few decades with growing consumerism in countries and wide range of products flooding the markets vying for consumer attention. The retail industry comprises of the department stores, local shops, discount stores, and sp ecialty stores that form the vital link in the midst of the manufacturers and customers. The global retail industry has witnessed epoch-making changes in the post globalization period with markets opening to multinational products and brands making their way to the retail counters. The low-t atomic number 53d local retail shops are disappearing to large multinational retail chain stores that have created a brand image for their quality of service and range of products available under one roof. Popular retail chain stores like Tesco, Walmart, Marks and Spencer have adopted international expansion strategies to increase market shares and profits. Indeed, the large the company, the more likely it is to operate beyond its domestic borders and to generate a higher percentage of its sales from foreign operations (Deloitte, 2009). Brand management has emerged as a critical top management serve for a business in the last decade. Brand image is increasingly being acknowledged as one of the most valuable intangible assets for a company. In the highly competitive retailing industry, branding has a very important role to play in influencing customer perceptions and enhancing store loyalty. In the join States grocery and general merchandise industry, retailing has made major inroads in the last few years. The retch in promotions and private labels has been seen as an indicator of increase in retailer power. Simultaneously, there has also been a significant increase in the number of discounters and warehouse clubs. This has put a lot of pressure on traditional retailers. Retail competition has increased and become cut throat both within and between retail formats. Based on these observations the research provides an insight into the different perspectives that have emerged in driving customers to the retail chain stores. What role does branding play in influencing choice of retail stores and how do customers differentiate one retail brand from the other? These are s ome of the vital questions that are answered by the research paper through an analysis of existing literature and theoretical perspectives defining customer decision making process. Retail branding a conceptual overview Retail branding is an evolving concept that has transformed the way customers shop now and it has generated a lot of speculation on how retail brands influence customers. Retail branding has been defined by Zentes, Morschett, and Schramm-Klein in their book Strategic Retail Management (2007) as