Take grocery stores, for example. The full-service supermarket is still the most popular form of grocery distribution. But today, busy families want faster service and more convenience, even if it means higher prices. As a result, convenience stores, home delivery services, personal shoppers and takeout restaurants have proliferated. At the same time, warehouse grocery retailing has also increased.
Warehouse stores cater to customers who prefer low prices to convenience.
Service, distribution and price are the essential elements of the products offered by supermarket, convenience and warehouse stores. To develop a successful marketing plan, you need to analyze how these same elements fit into your business. You can t offer it all. Knowing what your customers want helps you decide what to offer. Describe your target customer.