1. What is retail strategy ?
2. How can retailer build a sustainable competitive advantage ? 3. What steps do retailers go through to develop a strategy ? 4. What different strategic growth opportunities can retailers pursue ? 5. What retailers are best positioned to become global retailers ? Retail Strategy - is a statement identifying..
Target Market - is the market segment(s) toward which the retailer plans to focus its resources and retail mix. Retail Format - suggests the type of retail mix used by the retailer to satisfy the needs of its target market. Sustainable Competitive Advantage - is an advantage over the competition that is not easily occupied and thus can be maintained over a long period of time. Target Market and Retail Format
Retailing Concept - is a management orientation that focuses a retailer on determining the needs of its target market and satisfying those needs more effectively and efficiently. Retail Market - group consumers with similar needs that is services by a group of retailers using similar retail format to satisfy them. Building A Sustainable Competitive Advantage
1. Customer Loyalty
2. Retail Branding
4. Loyalty Programs
6. Human Resource Management
7. Distribution and
8. Information System
9. Unique Merchandise
10. Vendor Relations
11. Customer Service
12. Multiple Sources of Advantage
* Growth Strategies
involves realizing growth by directing efforts toward existing customers using retailer's present format. * Market Expansion
involves using the existing retail format in new market
* Retail Format Development
is an opportunity in which a retailert develops a new retail format- a format with a different retail mix for the same target market. * Diversification
retailer introduces new retail format toward a market segments that's not currently served by the...