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Retail Strategy:-
• Highlights ….
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Mission Statements:-
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Situation Analysis:-
• PEST Analysis – Political, Economic, Social and Technological
– Entry barriers
– Suppliers
– Customers
– Substitute Products a
– Industry rivalry
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• Merchandise
• Price
• Service
• Communications
• Store operations
• Logistics
• Purchasing
• Market research
• Finance
• Technology
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Dimensions:-
• Location
• Price
• Service
• Communication
– Identify where the gap lies between customer desires and other
retailer offerings
– SWOT Analysis
– Believes in innovation
– Is aggressive
– Adaptable to change
• Mission Statement
• Budgeting
Wills Lifestyle:-
• ITC’s Wills Lifestyle has been established as a vibrant fashion brand for
the premium consumer. Wills Lifestyle offers a complete lifestyle
wardrobe for the premium consumer, incorporating the latest fashion
trends, comprising - Wills Classic work wear, Wills Sport relaxed wear,
Wills Clublife evening wear, Essenza di Wills range of fine fragrances,
bath & body care products and fashion accessories for both men and
women. Specially showcased is a range of high end offerings such as
Luxurious shirts & trousers, Formal Jackets, Cashmere and Evening
dresses.
Organizational Mission:-
Retailer’s commitment to a type of business and to a distinctive role in the
marketplace.
• Automotive group
• Jewelry stores
• Apparel group
• Food group
• Beauty/barber shops
• Funeral services
• Health-care services
• Movie theaters
• Bowling alleys
• Dance halls
• Golf courses
• Automobile repair
• Car washes
• Appliance repairs
• Hotels
• Motels
• Trailer parks
• Camps
Kroger’s Goals:-
Positioning Approaches:-
Mass merchandising is a positioning approach whereby retailers
offer a discount or value-oriented image, a wide or deep merchandise
selection, and large store facilities
Mass marketing
Concentrated marketing
Differentiated marketing
Retailer’s location
Promotion efforts
Price orientation
Strategy
Controllable Uncontrollable
Variables: Variables:
•Store location •Consumers
•Managing business •Competition
•Merchandise •Technology
Retail
management •Economic
Strategy
and pricing conditions
•Communicating •Seasonality
with customer •Legal restrictions
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zoning laws
blue laws
environmental laws
local ordinances
licensing provisions
personnel laws
antitrust laws
franchise agreements
business taxes
recycling laws
trademarks
merchandise restrictions
sales taxes
unit-pricing laws
collusion laws
sale prices
truth-in-credit laws
telemarketing laws
bait-and-switch laws
inventory laws
labeling laws
cooling-off laws
Timing
Solo or partnering
Product selection