A Study of Successful Strategies of Unorganized Pharmacy Retailers-A Case of South Bangalore

Retailing is very motivating as well as profitable if the retail store is able attract maximum number of customers for its products. The retailers use all kinds of available strategies to increase the footfall of the customers. Still, only some retailers can be successful in having a strong pull for its customers. These retailers can never show a sign of breakdown even in weak economic and strong competitive environments. This is common phenomenon among all kinds of retailers. There are certain pharmacy stores that are successful in attracting customers better than other pharmacy stores operating in the same kind of business. Sometimes, in the same locality, it is observed that one pharmacy store is very popular and always seem to be crowded with customers while others stores are not so. Such a tendency is common among all kinds of shops/outlets like grocery shops (kirana stores), Pharmacy stores, restaurants, laundry service etc. In spite of reasonable level of competition among the similar types of stores, some stores are successful in attracting more customers as compared to others. These stores get maximum customer footfalls. The present study aims at finding the factors responsible in contributing to the better performance of these successful Pharmacy stores, especially the unorganized Pharmacy stores. In this study, these successful factors have been referred to as successful strategies used by the pharmacy stores in Bangalore.