The literature review emphasizes the overview of marketing strategies; retail marketing strategies and technological utilization; international retail marketing strategies in the global retail industry; retail marketing strategies and internationalization; the challenges of retail marketing strategies in the fashion retail industry; the overview of brand management; and the significance of brand management in the global retail industry.
Overview of Marketing Strategies
Marketing strategy can be defined as an organization’s integrated pattern of decisions that specify its crucial choices concerning products, markets, marketing activities and marketing resources in the creation, communication, and delivery of products that offer value to customers in exchanges with the organization and enables organization to achieve specific objectives (Varadarajan, 2010). Marketing strategies serve as the valuable foundation of marketing plans designed to fill marketing needs and reach marketing objectives (Kasemsap, 2015a).
Marketing strategists should create, maintain, and arrest the decrease of ambiguous resource competences that lead to competitiveness and performance (Hansen, McDonald, & Mitchell, 2013). Marketing segmentation and positioning have been at the essence of marketing management (Cornelius, Wagner, & Natter, 2010). The consideration of strategic customers, who can delay a purchase to take advantage of a future discount, has dramatically increased (Gonsch, Klein, Neugebauer, & Steinhardt, 2013).