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Retail Strategy: Presented By: Priti Singh

The document outlines the key components of a retail strategy, including targeting the appropriate customer market and their needs, choosing an effective retail format, and identifying bases for building sustainable competitive advantages over competitors. An effective retail strategy also emphasizes customer orientation, coordinated business efforts to maximize efficiency, and providing good value. The strategy development process involves establishing a mission, analyzing the situation, identifying options, setting objectives, allocating resources, and monitoring progress.

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41 views9 pages

Retail Strategy: Presented By: Priti Singh

The document outlines the key components of a retail strategy, including targeting the appropriate customer market and their needs, choosing an effective retail format, and identifying bases for building sustainable competitive advantages over competitors. An effective retail strategy also emphasizes customer orientation, coordinated business efforts to maximize efficiency, and providing good value. The strategy development process involves establishing a mission, analyzing the situation, identifying options, setting objectives, allocating resources, and monitoring progress.

Uploaded by

singhpriti85
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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RETAIL STRATEGY

Presented by: Priti Singh

Retail strategy is a carefully devised plan of action to achieve a goal, or the art of developing or carrying out such a plan means scheme an elaborate and smatic plan of action.

Target Market

Customer Needs
Retail Format

Method for Satisfying Needs


Bases for Building Sustainable Competitive Advantage Defending Position Against Competitors

Customer

Orientation: Attributes & Needs satisfaction


Coordinated

Efforts: Maximize Business Efficiency


Value

driven: Good Value for Money


Goal

Orientation Achieve Goals

Attractiveness

-- Large, Growing, Little Competition More Profits

Consistent

with Your Competitive Advantages

ESTABLISH

MISSION ANALYZE SITUATION OBJECTIVES IDENTIFY OPTIONS SET OBJECTIVES OBTAIN AND ALLOCATE RESOURCES DEVELOP IMPLEMENTATION PLAN MONITOR PROGRESS AND CONTROL

1.
2. 3. 4. 5. 6.

Dropping the price of your merchandise? Building a store at the Best Location? Deciding to sell some Hot Merchandise? Increasing your level of Advertising? Attracting Better sales Associates by paying Higher wages? Providing Better Customer service?

This is how retail strategy is conducted where retailers have to take care of customers needs and their satisfaction as well as to achieve organisational goals.

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