Since the retailer has direct contact with the users of goods and services, the retailer can discover and attempt to meet the needs and preferences of consumers. To be successful, a retailer must distinguish itself from other retailers and develop a strategy for satisfying the needs and preferences of a specific consumer group. The Product Retailers strive to offer products that appeal to the tastes of the consumer, are of good quality, and function properly. Sometimes the product must also provide psychological and emotional benefits, such as prestige or convenience. For example, an expensive watch with a well-known, visible brand name may give its owner a sense of prestige.
Retailers then sell consumers jeans by the individual pair.
Location A retailer's location must be convenient. In locating retail stores, retailers consider the market or town in which they want to establish themselves, the part of town to be in, and the actual site of their store. In some cases, no store is involved because the right location for shopping for a product is the consumer's home or place of business. These retailers without stores, known as nonstore retailers, act as direct marketers by contacting customers directly through mail, the Internet, television, telephone, or other means. Timing Retailers must make their products available at times when consumers are willing and able to buy them.