RETAIL MANAGEMENT PROGRESS CHECK

1. Think of a recent purchase that you made, and describe how social environmental factors,
including reference group, family, and culture, influenced your buying decision. How are
retailers using social media to impact your buying decisions?

Answer:
Living in this world where in good decision really matters, especially in buying something
for yourself. As an individual before I decided to buy something, I’ll make sure that I really wanted
that thing and it is not just wasting money on things I will regret later. Furthermore, I always need
to made up my mind for a purchase that is worth buying for. The people around me can also
influence and help me realize as well as to decide properly. But in the end, still I will be the one’s to
decide for myself, those people around me like my family and friends or what they called the social
factors are just there to guide and enlightened us in every decision that we will make.
My recent purchase is a sandals from Celine. As I’am scrolling down or browsing my
Facebook account, I saw the page of Celine and I saw something that I really like for the first time I
saw it. And I already told my mom and my sister that I wanted to buy that one and they said that
its to expensive for just a sandals but later on I convinced them and they allowed me to buy it.
Before I ordered that online through ZALORA, I searched a lot about the reviews like “is the quality
good?, how to choose the best size that will really fit on me and what color was the item with the
most purchase?” which made me decide and before truly buying it. I also and always asked my
sister in every purchase that I made just like if she agree then I’ll buy it and if she’s not I’ll need to
think it for many times because I trusted her a lot. From that I applied everything that I learned as
marketing student and then I realized that the opinion of the people around you is important but it
does not mean that they will decide for you.Therefore, it is important to know the purpose of your
family, culture and reference groups in your buying behavior. With that, I’am happy and satisfied
with my purchase.
In addition, social environmental factors includes reference group, family, and culture
which are the factors to consider when buying something. Your family’s opinion and their role will
matter if your deciding something that will benefited each family member and as a whole. And
reference groups to rely on like your trusted friend opinion that will help you decide for good.
Lastly, culture that you are aware of and that you are used to considering in every decision you
make.
 Nowadays, retailers actually use social media platforms to expand what they can
accommodate and to get customers closer to them. Online shopping is more popular especially
now that there is a pandemic, many people prefer to buy through online while it is not safe to go
out. And one thing that is good about online is customers are free to search and gather information
for their desired items and choose the best seller and store. Approximately, people are using social
media, it means retailers have more chances to attract the customers and make them interested in
the products that you are selling. It just like a transition of communication between retailers and
customers that can passed by other people which results to recommendation and later on gain
more customers. Through social media, there are people to ask for a reviews that will help them
decide.

2. Choose a retailer, and describe how it has developed a competitive strategic advantage.
Answer:
Establishing an image in the market is a serious matter, in which the company needs to
set standard to standout among others. They always need to build it from the very start that they
enter the market and most importantly, they must know their edges and advantages among others.
In order to overcome all the challenges, they need to have strategies to implement in whatever the
situation is, that will really test their consistency in the market.
SM Supermalls is the best example of retailer that have been set standard in the market.
In recent years, it has proven a lot in the industry but it did not stop there. SM Supermalls
continued to give something new to the market. It still aiming for the best that they can give to
keep their customers loyal. They’ve been through a lot of challenges before they got the success
that they have right now. With that it only shows that having sustainable competitive strategic
advantage is important especially now that it has a lot of business emerging in the market that can
be its competitor. SM Supermalls maintain its spot in the market by keeping its customers loyal.
We all know that good relationship with customers is the very reason why your having success. Its
just matter of give and take and everything will also follows. Positioning can also be apply with the
use of retail mix to create an image in the customers mind. It gives so much satisfaction to the
customers, whenever they are going there they have everything they need. From supermarket,
drugstore, good brands, department store, food stalls, restroom, parking and customer service too
which they find comfort and satisfaction. And they make sure that they have competent and
well-trained employees to serve and associate the customers. Location is also an important factor
that SM Supermalls have. The location was very accessible which made easy for the customers to
go there. Having those competitive advantages will surely have an impact with the customers and
with the entire operation and growth of a retailing business. Moreover, sustainable advantage can
really help to deal with the competitors. They just need to be mindful and not to be too competent
with all they have, what matters is they always work on how they establish, build and develop
their image in the market.

3. Why is store location such an important decision for retailers?

Answer:
Deciding where to build a store or business was always been important. It is said to be
the most important thing in retailing. In fact, it is a good decision that you invest the money in
good location because it has the certainty of a good return to you and to your business. You can
say and predict the success of retailing business if its store location was very easy to access. The
place or location you choose to build a store should be suitable or appropriate for the lifestyle of
the people. That is one that should be carefully considered before you can fully build the store. You
should always consider if that place is safe to go, to the point that they wouldn't have any problem
or it wouldn’t be hassle for them to be there. Good location decision can really have an impact in
the performance of a business just like if your location was very nice therefore you will gain a lot
of customers as well as will retained good employees. Choose a place where there is no traffic and
if there is, maybe not to much and the area must be civilized. A good business location can create
brand and image. It is a way of having an intact with your customers with having a nicest place.
Conducting a market research can really help a lot in order to know where you can locate your
store. And choosing the right location means difference in taking it as part of success. Of course
before anything else, aside from patronizing the product, they would always look into the location
which is another big factor in establishing your image in the market.
Businesses will decide to choose a location where they would benefited a lot. It can be a
good location for its exposure to customers and image but those are just a few of the reasons why
many businesses give importance in deciding a best location that they will and definitely need to
have. The business must determine what their business requires to maintain its spot. Here are
some of the factor that they need or might be consider in having a good place. First is the
competition, the retailer must know its competitors in that place in able to deal with it. And
supplier that is near to the location to secure daily operations. Lastly growth, it is very important
that you are in location where there are lots of opportunities for improvements and growth.