The paper "Retail Marketing at King’ s Cross Railway Station" is a great example of a case study on marketing. Retail marketing involves the selling of products after breaking bulk. It is the final stage of a product since it is the stage that the product reaches the end consumer in the supply chain. The profits at the retail stage are highest since every item is sold at a profit. This is however dependent on the supply chain. An idea of starting a retail outlet at a railway station will trigger searching for viable products of trade.
These will mainly be products that are needed while traveling or exactly after traveling. The place of choice is King’ s Cross railway station that is situated in the King’ s Cross district of central London. A brief analysis of King’ s Cross shows that it mostly receives guests from the Northern part of London. The core of business in the station is travel and this makes the railway station the place with the largest crowds. There have been recent developments of buildings from people targeting the tourists who travel to the king’ s Cross.
A few meters away from King’ s Cross is St. Pancras which is a major destination for tourists who arrive from Europe. The area around the king’ s Cross is therefore populated largely with tourists. Current retail opportunities While looking at the range of products that can retail largely in King’ s Cross, it is wise to have the Tourism mind and some of the products that could easily be needed by tourists are mainly personal grooming stuff like combs and brushes. Food is a major necessity for all human beings and therefore when the retail of food is introduced, it is likely to grow.
The food should have exotic touches so that the tourists can get something that they are familiar with. Customer customization shows that customers are more likely to buy a product that they know that a new product. In the case of food, the ingestion of the body will be the prior consideration before a customer decides to try new food. However, having assorted dishes like traditional and exotic foods will always be more profitable since the local people will also buy while the tourists too will be interested in food that they already know. Tourist information for retail is the best product for retail.
This one, unlike food, is not perishable and can always be changed whenever there are any changes that require to be done. There is always an assurance that strangers will always look for direction. Having a tourist information center at King’ s Cross is a great idea since it is strategic and again, very lucrative. There is an assortment of products that could be retailed in the tourist information center.
These include maps and transportation services. Tour guide services to are a product that will be highly demanded and information on various famous places and hotels can also be retailed. The tourist information center should charge fairly and market itself widely to make people knowledgeable of the services that are offered. This will consequently bring in scores of tourists looking for maps.