Identification of Factors Affecting Retail Marketing Strategies of Unorganized Pharmacy Stores | Original Article
Background and Objective The marketing strategies used by retail stores cannot be adopted by a unorganized retail pharmacy store as such since it operates within a regulatory environment. In consideration of this in continuation of our previous study, an attempt has been made to identify factors which may be beneficial to unorganized retail pharmacy store. Method A questionnaire consisting of twenty nine questions were designed. The responses were obtained unorganized retail pharmacy of Malwa Region of M.P. Total 145 unorganized pharmacy stores were randomly selected for the present study. The obtained responses were subjected to factor analysis. Results The factor analysis identified four factors, have been termed as branding, customer service, ancillary services Products and competitive pricing. Conclusion It was found that among the four factors, customer service is one of the significant factors which affect the sustainable growth of the retail unorganized pharmacy store.