An equity position exists when someone with a need for a specific product or service thinks of your store. Having the best equity position in a market is when consumers who need that product or service think of your store first. Initial advertising efforts can simply create awareness and establish an image before concentrating on promotion, Corbett says, although he notes that it's important for even awareness-oriented advertising to be specific and focused on results. That way performance can be measured clearly. This includes the basic components a business owner needs for success, including employees, parking, telephone, customer service, image, name recognition, customer perception and advertising.
Retailers can employ a range of media to advertise their businesses.
Dion and Topping list the following considerations for reach, cost and market for each. Cost refers to the relative cost of using various media. Market refers to the extent to which you can focus or target your message. As an example, consider newspaper advertising. The reach is broad because many people buy and read the newspaper.