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Paper Details
Paper Title
Retailing Strategies in Agrarian Economy of Bihar
Authors
Himanshu Shekhar Singh, Dr. Arvind Kumar Shukla
Abstract
Even in an agrarian state like Bihar increasing number of retail stores is creating a competitive challenge for retailers and consumers as well. In view of this, the retailers are focusing more on offering innovative products, customized services, which are suitable for specific customer needs. The retailers will have to focus on understanding customer segments based on economic background, value, variety and aspirations of the customer. Retaining customers through loyalty in economically lower strata is another challenge which they must consider. The proposed study is based on investigating the key factors of organized retail stores and unorganized ones spread across Patna and nearby cities. Henceforth, finding the association among retailing potential, customers buying behavior and the society they come from – industrialized or agrarian. Their agricultural mindset does prohibit luxury and extravagant spends but psyche to be “in the league” drives the sales of Dove shampoo sachets, low end smart phones, Rs 10/- daily recharge and everything that’s Lux but in smaller packs. The socio - economic background of the consumer does restrict the quantity and quality of consumption but the aspirations are unbound and needs to be addressed with specific product designs and innovative service and financial offerings.
Keywords- GSDP - Gross State Domestic Product; Demographic Profiles; Socio-Economic Factors; Social, Legal, Political Technical Factors.
Publication Details
Unique Identification Number - IJEDR1801023Page Number(s) - 135-140Pubished in - Volume 6 | Issue 1 | January 2018DOI (Digital Object Identifier) - Publisher - IJEDR (ISSN - 2321-9939)
Cite this Article
Himanshu Shekhar Singh, Dr. Arvind Kumar Shukla, "Retailing Strategies in Agrarian Economy of Bihar", International Journal of Engineering Development and Research (IJEDR), ISSN:2321-9939, Volume.6, Issue 1, pp.135-140, January 2018, Available at :http://www.ijedr.org/papers/IJEDR1801023.pdf
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