Product Mix and Pricing Strategies of Retail Establishments: An Exploratory Study in Mizoram

Abstract: This research paper provides an overview of the retailers of 5 categories namely- apparel, household appliances, food and grocery, mobile phones and cosmetics in Mizoram with special reference to Aizawl taking into account their product mix and pricing mix in a city where almost all businesses are retails where production of own products is still sparce and countable in the state. The study uses SPSS for data analysis with measures of central tendency i.e mean value along with weighted score and percentage to Maximum Possible Score (MPS) to find out the various product mix selection as well as the pricing of products. This study will help existing and upcoming retailers on how they would strategize their target market to its maximum possibility. The study gives an overview and understanding on how retail markets work in the city of Aizawl and how markets have thrived under their strategies adopted.

Keywords: retailers, marketing, product mix, pricing, analysis