ade them successful. Wall-Mart is a category killer with a massive range of products offering low prices, often lower than wholesale, that is suitable for everyone (Peterson et al 2000). The chosen target market usually defines what your retail position will be. If you are targeting high-class people, your retail brand and position within the market should show this.Product rangeProduct range is one of the most important areas in retail. The type of products that a retailer has along with the breadth and depth of their product range are important factors of the retail brand. The breadth of the product range takes into account the number of different product lines a retailer has. The depth of the product range accounts for the different styles, shapes, colours, etc that each individual line has. The product range is a very important part of the retail brand.The layout of this product range also is an important factor in retailing. Products can be arranged according to brand, price, use/application or feature and benefits of the product (Varley 2001). How the products are arranged is entirely up to the retailer. Some stores cluster the aisles with stock and displays to give the perception of large amounts of stock. Other retailers choose to have few displays in the customers way so as to make the shopping experience less stressful.PricingThere are a number of ways for a retailer to price their products:Uniform mark-upDemand led pricingPremium pricingHigh-low pricingEveryday low pricingDiscounting (Varley 2001)Depending on the retail brand and position depends on which method that you use. Uniform Mark-upUniform Mark-up is where all products are priced with the same gross profit margin. This may be 10%; in this case, all items will be increased by 10%. This method is rarely used because generally retailers will set gross profit margin according to Sales.Demand Led pricingDemand led pricing allows the retailer to change the gr...
