The Role of RFID Enabled Supply Chain in Effective Execution of Marketing Mix Strategy of Retail Industry

Supply Chain Management is interconnected coordination of the flow of materials, information and finances. Without effective supply chain management firms can't deliver on the promises made to customers. The objectives of this paper are firstly, to show the concept of supply chain including RFID, its operating concept, and its benefits to various stake holders of supply chain; secondly, to demonstrate how RFID enabled supply chain can leverage the strengths of marketing mix strategy and meet the challenges of customer value creation in today's dynamic market place; and lastly to highlight limitations of RFID. The main purpose of this paper, however, is to highlight the crucial role of RFID enabled supply chain on marketing mix strategy of retail industry. RFID is IT enabler for enhancing effectiveness and efficiency of the supply chain and helps in effectively designing and executing all components of marketing mix strategy viz. Product, Price, Place and Promotion. RFID enabled supply chain ultimately helps in designing optimum marketing mix strategy of retail industry