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RM Module 2

The document outlines the syllabus for MBA Batch 2023, focusing on strategic planning in retailing, including the retail environment, information systems, and organizational decisions. It emphasizes the importance of strategic planning for competitive advantage and long-term sustainability, detailing key components and steps involved in the planning process. Additionally, it discusses challenges faced by Indian retailers and tools for effective retail research and location decisions.
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0% found this document useful (0 votes)
10 views69 pages

RM Module 2

The document outlines the syllabus for MBA Batch 2023, focusing on strategic planning in retailing, including the retail environment, information systems, and organizational decisions. It emphasizes the importance of strategic planning for competitive advantage and long-term sustainability, detailing key components and steps involved in the planning process. Additionally, it discusses challenges faced by Indian retailers and tools for effective retail research and location decisions.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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MBA BATCH-2023

Dr. Raies Hamid

MODULE II
Syllabus
Strategic planning in retailing—Retailing
environment and customers; Designing retailing
information system and research Location and
Organisational decisions – Trading area analysis;
Site selection; Organisational patterns in retailing.
CONTENTS
CONTENTS

02 04 06

Retailing Environment Designing Retail Organizational


and Customers Research Decisions in Retailing
01 03 05

Strategic Planning in Retail Information Location Decisions in


Retailing System (RIS) Retailing
01
Strategic Planning in Retailing
Importance of Strategic Planning in Retailing

Role in Competitive Advantage

Strategic planning serves as a important foundation for establishing a


competitive advantage in retail.

It enables retailers to anticipate market changes, respond


effectively to competitive pressures, and leverage unique
strengths, thereby ensuring a prominent market position.

Long-Term Sustainability

Effective strategic planning is essential for long-term sustainability,


allowing retailers to adapt to evolving consumer preferences and
technological advancements.

It promotes innovation and ensures that resources are allocated


efficiently, enhancing the retailer's resilience in a dynamic market
environment.
Key Components of Strategic Planning in Retailing
Goals and
Vision and Mission SWOT Analysis Market Analysis
Objectives
Statements

Vision and mission Conducting a SWOT Setting clear goals and


statements describes a analysis helps retailers objectives is important
retailer's fundamental identify their strengths, for directing strategic Comprehensive market
purpose and desired weaknesses, efforts. analysis allows retailers to
future state. opportunities, and understand market
threats. dynamics, consumer
They guide decision- These benchmarks behavior, and industry
making processes and provide a framework trends.
help align organizational This strategic tool for evaluating
efforts toward common facilitates informed progress and
objectives, building a decision-making by success, ensuring that This understanding is
cohesive corporate providing insights into all organizational critical for identifying
identity in a competitive internal capabilities activities are aligned potential opportunities
landscape. and external factors with business aims. and risks, enabling
affecting business informed strategic choices.
performance.
Key Components of Strategic Planning in Retailing
Resource Allocation Performance Metrics
Strategic Initiatives

Effective resource allocation Establishing performance metrics


Strategic initiatives are specific ensures that financial, human, is crucial for measuring
actions designed to achieve and technological resources are progress and success.
defined goals. directed towards strategic
priorities.

By prioritizing initiatives based


Key performance indicators (KPIs)
on resource availability and This process enhances enable retailers to monitor
market conditions, retailers operational efficiency and outcomes, make data-driven
can drive operational supports the successful adjustments to strategies,
effectiveness and achieve long- implementation of strategic and continuously improve
term objectives. initiatives. performance.
Steps in Strategic Planning for Retailing

Step 1: Define the Vision and Mission


 Establish the long-term vision and core purpose of the retail business.
 Example: A vision to be the leading fashion retailer in India and a mission to offer trendy and
affordable clothing.

Step 2: Conduct a SWOT Analysis


 Identify internal strengths and weaknesses, as well as external opportunities and threats.
 Example: A SWOT analysis for a grocery retailer might highlight strengths like a strong
supply chain and weaknesses like limited online presence.
Steps in Strategic Planning for Retailing

Step 3: Set Goals and Objectives


 Define clear, measurable, and time-bound goals and objectives.
 Example: "Increase annual revenue by 15% and expand to 10 new cities by 2026."

Step 4: Analyze the Market


 Study customer segments, competitors, and market trends.
 Example: Identifying a growing demand for organic products among urban consumers.
Steps in Strategic Planning for Retailing

Step 5: Develop Strategic Initiatives


 Formulate strategies for product, pricing, place, and promotion.
 Example: Launching a new line of eco-friendly products and promoting them through digital
marketing.

Step 6: Allocate Resources


 Assign budgets, personnel, and technology to support the strategies.
 Example: Allocating funds for a new e-commerce platform and hiring a digital marketing
team.
Steps in Strategic Planning for Retailing

Step 7: Implement the Plan


 Execute the strategies through coordinated efforts across the organization.
 Example: Rolling out a new loyalty program and training staff to promote it.

Step 8: Monitor and Evaluate Performance


 Track progress using KPIs and make adjustments as needed.
 Example: Monitoring sales growth and customer feedback to refine marketing campaigns.
Examples of Strategic Planning in Indian Retailing
03

02 Nykaa
01

D-Mart (Avenue Nykaa's strategic planning leverages e-


Reliance Retail Supermarts) commerce and an omnichannel
D-Mart's strategic planning focuses approach to cater to the beauty and
Reliance Retail is the best
on cost leadership and operational wellness market.
example for strategic planning by
efficiency.
utilizing a multi-format approach.

By emphasizing low prices and high-


It combining physical stores with
quality products, D-Mart has
digital platforms to enhance
solidified a competitive position
customer reach and improve
while expanding its footprint across
market penetration in India's
urban and suburban areas. By focusing on customer experience and
evolving retail landscape.
personalized services, Nykaa has
successfully captured a significant
Challenges in Strategic Planning for Indian Retailers

Market Volatility Resource Constraints Consumer Behavior Shifts

Rapid changes in consumer


Indian retailers face Limited resources, whether
behavior, influenced by
challenges stemming from financial or human, pose
technology and socio-
market volatility, including significant challenges for
economic factors, require
fluctuating consumer demand strategic planning.
retailers to remain agile.
and economic uncertainties.

Adapting strategies to Retailers must prioritize


Understanding these shifts is
address these dynamics is initiatives and allocate
essential for aligning
important for maintaining resources judiciously to
strategic initiatives with
competitiveness. achieve strategic objectives
evolving customer
effectively.
expectations.
Tools and Frameworks for Strategic Planning

01 02 03
Porter’s Five Forces
Balanced Scorecard
PESTLE Analysis
Porter’s Five Forces framework
PESTLE analysis examines the analyzes competitive dynamics The Balanced Scorecard is a
Political, Economic, Social, in the retail sector, assessing strategic planning tool that
Technological, Legal, and the bargaining power of translates organizational vision
Environmental factors affecting buyers and suppliers, the into actionable objectives.
retail. threat of new entrants, the
threat of substitutes, and It balances financial and non-
This comprehensive framework existing rivalry. financial performance
aids retailers in identifying measures, promoting a
external influences and comprehensive view of strategic
crafting responsive This analysis aids in strategic success.
strategies. positioning.
02
Retailing Environment and Customers
Components of the Retailing Environment
Economic Factors Technological Factors
Economic factors, such as inflation rates, Technological advancements reshape the retail
disposable income, and employment rates, landscape, influencing how products are
significantly influence retail performance. Retailers marketed and sold. Retailers must leverage
must monitor these variables to adapt pricing emerging technologies like e-commerce and
strategies and inventory management accordingly. data analytics to enhance customer engagement
and operational efficiency.

Political and Legal Factors Social and Cultural


Factors
Political stability and regulatory frameworks Social and cultural trends shape consumer
impact retail operations. Compliance with laws preferences and buying behaviors.
regarding labor, taxation, and consumer Understanding demographic shifts and cultural
protection is essential for sustainable operations norms enables retailers to tailor their offerings
and minimizing legal risks. and marketing strategies effectively.
Environmental Factors
Competitive Factors
Increasing awareness of environmental
The competitive landscape is characterized by
sustainability influences retail practices.
both direct competitors and alternative
Retailers must adopt eco-friendly practices
market players. Conducting competitive
to meet consumer demand for sustainable
analysis helps retailers identify strengths
products and minimize the environmental
and weaknesses relative to their
impact of their operations.
Understanding Retail Customers
01 02 03 04

Customer Behavior and Customer Expectations Shopping Trends


Needs Segmentation Emerging shopping
Understanding customer Customers today have high
trends, such as the rise of
behavior involves expectations regarding
Market segmentation divides online shopping and
analyzing purchasing product quality, service
consumers into distinct experiential retailing,
patterns, preferences, efficiency, and shopping
groups based on require retailers to adapt
and motivations. experiences.
characteristics such as strategies.
demographics, buying
This insight allows retailers
behavior, and preferences.
to personalize their
Understanding these trends
offerings and marketing Retailers must strive to
Effective segmentation can inform decisions
strategies to meet exceed these expectations
enables retailers to target regarding product
customer needs effectively. to build loyalty and
marketing efforts and placement, promotions,
enhance customer
enhance customer and channel strategies.
retention.
03
Retail Information System (RIS)
Understanding the Indian Retail Ecosystem
01 Unorganized Retail

The unorganized retail sector represents a significant portion of


India's retail landscape, characterized by small, family-owned
stores.

Understanding this segment's unique dynamics is crucial for


02 Organized Retail
developing effective competitive strategies.
Organized retail consists of larger, branded entities
that operate through formal structures and defined
policies.

03 Consumer Behavior
Analyzing consumer behavior in the Indian retail ecosystem
This segment is growing rapidly, driven by urbanization
involves understanding regional preferences, spending
and changing consumer lifestyles, necessitating
habits, and cultural influences.
strategic adaptations from competitors.

This knowledge is instrumental in developing targeted


marketing strategies and product offerings.
Key Objectives of a Retail Information System
Data-Driven Decision Enhancing Operational Improving Customer
Making Efficiency Experience

By centralizing
A strong Retail The effective use of an
operations and RIS can lead to improved
Information System
automating processes, customer experiences
(RIS) provides critical
an RIS enhances through personalized
data that empowers
operational services and faster
retailers to make
efficiency. response times.
informed decisions.
Streamlined data Understanding customer
Utilizing data preferences allows for
management supports
analytics helps tailored marketing
better resource
identify trends, efforts and enhanced
allocation and service delivery.
optimize inventory,
reduces operational
and enhance sales
costs.
strategies.
Components of a Retail Information System
Decision Support

0 Layer
Supporting strategic decisions,
0 this layer integrates
Data Input Layer 1
5 analytical models with real-
The data input layer captures time data.
transactional information,
customer interactions, and supply It aids retailers in forecasting
chain activities. trends, optimizing pricing
strategies, and enhancing
This foundational component ensures overall decision-making
accurate data collection for
0
capabilities.
0 4 Output and Reporting
0
subsequent processing and analysis.
3
Data Storage Layer2 Layer
Data Processing Layer The output and reporting layer
This layer processes raw data into presents processed
The data storage layer is responsible
meaningful information through information through
for securely storing vast amounts
analytics. dashboards and reports.
of data.

By employing various data analysis It enables stakeholders to


Utilizing advanced database
techniques, retailers can extract visualize performance
technologies ensures data
actionable insights that drive metrics and make informed
integrity and accessibility for
strategic decisions. decisions based on real-
analytical purposes.
time data.
Steps to Design a Retail Information System

1. Identifying Business Needs:

•Understand the specific requirements of the retail business,


such as inventory tracking or customer management.
•Example: A supermarket may need a system to manage stock
levels and track expiry dates.

2. Selecting Appropriate Technologies:

•Choose software and hardware that align with business goals,


ensuring scalability and efficiency.
•Example: A clothing retailer may use cloud-based POS systems
for seamless transactions.
Steps to Design a Retail Information System

3. Integrating Various Data Sources:

•Combine data from sales, inventory, and customer databases for


better decision-making.

•Example: Amazon integrates purchase history and browsing data to


provide personalized recommendations.

4. Ensuring Data Security:

•Implement encryption, access controls, and backups to protect


sensitive business information.

•Example: Banks and e-commerce platforms use two-factor


authentication to secure customer transactions.
Steps to Design a Retail Information System

5. Implementing User-Friendly Interfaces:

•Develop an user friendly system that employees can easily navigate


to enhance productivity.

•Example: A touchscreen-based self-checkout system in grocery


stores helps reduce customer wait times.
Key Features of an RIS for the Indian Market

An effective RIS for the Indian market should include;


 Multilingual support: (languages-Flipkart, Amazon etc)
 Mobile accessibility : Reliance Retail uses mobile POS systems for seamless billing
 Integration with e-commerce platforms: Tata Croma integrates its stores with its website
 Compliance with local regulations: Amazon India complies with GST rules
These features enhance user experience and operational adaptability.
Challenges in Designing an RIS for India

Challenges in designing a Retail Information System in India include


dealing with;
1. Diverse consumer segments.
2. Managing vast amounts of data.
3. Ensuring technology adoption in a fragmented market.
4. Addressing infrastructural constraints that hinder data accessibility.

A retail industry with many small competitors instead of a few dominant players.
Market Fragmentation Fragmented New Age Marketing - YouTube
The North Face: Voice of Exploration
Tools and Technologies for RIS in India

Tools and technologies such as; Data Visualization


1. Cloud computing Video Video Video
Machine Learning
2. Data visualization platforms
3. Machine learning algorithms
These all are crucial for developing a strong RIS. These technologies facilitate real-time data Coca cola
processing and enhance analytical capabilities.
THE NORTH FACE
Collection of the Best Data Visual Ads by Well-Known Brands - Zillion Designs
04
Designing Retail Research
Meaning of Retail Research

Retail research refers to the systematic collection, analysis, and


interpretation of data related to retail markets and consumer
behaviors.

It serves as a vital tool for informed decision-making and strategic


planning in retail.
Definition of Retail Research

Retail research can be defined as the investigative process that seeks to


understand consumer needs, preferences, and purchasing behaviors,
providing insights that support business objectives and enhance
competitiveness.
Importance of Retail Research

Conducting retail research is essential for identifying market trends,


understanding customer demographics, and evaluating the
effectiveness of marketing strategies.

This information helps retailers adapt to changing environments


and make strategic investments.
Methods of Retail Research

01
Primary Retail Research Methods 02 Secondary Retail Research
Methods
Primary research methods involve
collecting firsthand data through
surveys, interviews, and
observations.

This approach offers customized Secondary research utilizes existing data from

insights directly relevant to specific reports, studies, and published articles.

retail challenges and opportunities.


This method helps retailers gain insights without
incurring significant costs and time, providing
a broader context for decision-making.
Steps for Designing Retail Research

Designing retail research involves


1. Defining objectives,
2. Selecting research methods
3. Developing tools for data collection
4. Sampling,
5. Conducting research,
6. Analyzing results, and
7. Reporting findings
to inform strategic decisions.
05
Location Decisions in Retailing
Meaning of Location Decisions in Retailing

Location decisions in retailing entail selecting sites that optimize


customer access and align with business strategies.

The right location can significantly impact sales performance


and brand visibility.
Importance of Location Decisions

The choice of retail location is important for attracting target


customers, minimizing operational costs, and enhancing brand
competitiveness.

A strategically located outlet can encourage foot traffic and increase


sales potential.
Factors Influencing Location Decisions

Various factors influence location decisions, including proximity to target markets,


availability of real estate, socio-economic demographics ( occupation, age
income, education, social status) , competition intensity, and visibility of the
location.

Comprehensive analysis of these factors is vital for informed decision-making.


Types of Retail Locations

Retail locations can be categorized


into several types, including
standalone stores, shopping
malls, neighborhood centers,
and online marketplaces.

Each type offers distinct


advantages and challenges based
on target demographics and
operational goals.
Steps in Making Location Decisions

Making effective location decisions involves conducting


market research, analyzing competitive landscapes,
evaluating potential sites, assessing costs, and
considering logistical aspects to ensure alignment with
overall business strategy.
06
Organizational Decisions in Retailing
Meaning of Organizational Decisions in Retailing

Organizational decisions in retailing refer to the choices made


regarding the structure, processes, and resource management
within the retail organization.

These decisions align with strategic goals and operational efficiency.


Importance of Organizational Decisions in Retailing

Effective organizational decisions are


integral to optimizing performance,
fostering innovation, and enhancing
customer satisfaction.

They empower retailers to adapt to market


changes and drive operational success.

Example: Amazon's operational success is driven by its advanced logistics, automation, and customer-centric approach,
ensuring fast deliveries and high customer satisfaction.
Types of Organizational Decisions in Retailing

01 02 03 02

Strategic Decisions Operational Tactical Decisions Financial Decisions


Decisions
Operational decisions
Strategic decisions involve
pertain to day-to-day Tactical decisions are Financial decisions focus on
long-term planning that
management of retail short-term actions resource allocation,
affects the overall
operations, including that support strategic budgeting, and
direction and
inventory control, goals, such as investment strategies.
sustainability of the retail
staffing, and customer promotional
business.
service practices. campaigns and Sound financial planning is
pricing adjustments. critical for ensuring the
These decisions often
These choices impact long-term viability and
include market entry
efficiency and These decisions are operational success of
strategies and allocation
customer satisfaction vital for responding to the retail business.
of resources for growth.
directly. competitive
pressures and
Factors Influencing Organizational Decisions in
Retailing
Various factors, including market conditions, consumer behavior, technological
advancements, and regulatory requirements, influence organizational decisions.

Retailers must remain agile and responsive to these factors to maintain competitiveness.
Examples of Organizational Decisions in Retailing

Organizational decisions can range from expanding product lines


based on consumer trends to restructuring teams for
improved efficiency.

These decisions reflect the retailer's strategic priorities and


aims for growth.
07
Trading Area Analysis in Retailing
What is Trading Area Analysis?

Trading area analysis assesses the geographical area from which a retail
establishment draws its customers.

This analysis enables retailers to understand market potential and competitive


dynamics within specific locales.

A Starbucks planning to open a new outlet in Mumbai conducts trading area analysis by assessing foot traffic,
local demographics, and competitor presence.

By analyzing nearby offices, residential areas, and spending patterns, the company determines the ideal location
with high customer potential and minimal direct competition, ensuring profitability and market success.
Importance of Trading Area Analysis

Understanding trading areas is crucial for resource allocation,


marketing strategies, and operational planning.

Accurate analysis helps retailers optimize their locations and


increase market penetration.

Walmart's Expansion Strategy in the U.S.

Walmart uses trading area analysis before opening new stores by studying population density, income levels, shopping
behavior, and competitor locations within a region.

For example, before opening a new store in a suburban area, Walmart analyzes customer traffic patterns, accessibility, and
potential demand to ensure the store location maximizes footfall and sales.
This strategy has helped Walmart optimize store locations, avoid market saturation, and successfully penetrate new regions
while maintaining operational efficiency.
Types of Trading Areas
Trading areas can be classified into primary, secondary, and tertiary zones based on
their proximity and customer significance.

Each area presents unique challenges and opportunities for retail operations.
Types of Trading Areas
Primary Trading Area:
The closest zone to the retail store, contributing the highest percentage of customers and sales.

Example: A McDonald's in a busy city center relies on office workers and nearby residents as its primary customer base.
A Big Bazaar store in Mumbai's High Street Phoenix Mall primarily serves residents and office-goers within a 3-5 km
radius.

Secondary Trading Area:


A slightly farther zone with moderate customer traffic and sales potential, influenced by convenience and brand appeal.

Example: A Tata Croma store in Bangalore’s Koramangala attracts customers from nearby residential areas and IT hubs
who visit for high-value purchases.

Tertiary Trading Area:


The outermost zone with occasional customers who travel for specific needs or brand loyalty.

Example: Tourists visiting an Apple flagship store in another city form part of its tertiary trading area.
A Fabindia store in Delhi’s Connaught Place may attract shoppers from other cities looking for premium ethnic wear
during their visits.
Methods of Trading Area Analysis

Various methods for trading area analysis include demographic


profiling, customer surveys, geographic information systems
(GIS), and sales data analysis.

These methods provide insights into consumer behavior and


market potential.
Factors Affecting Trading Area

Factors affecting trading areas encompass


demographic trends, competitor locations,
transportation accessibility, and local economic
conditions.

Analyzing these factors helps retailers evaluate


potential performance within specific areas.
Example of Trading Area Analysis

An example of trading area analysis might involve evaluating foot traffic


and sales performance in urban versus suburban locations.

This insight enables retailers to make strategic decisions about store


placement and marketing efforts.
Challenges in Trading Area Analysis

Challenges in trading area analysis can include data


availability, rapidly changing demographic trends, and
evolving consumer preferences.

Retailers must develop adaptive strategies to navigate these


complexities effectively.
08
Site Selection in Retailing
Introduction to Site Selection in Retailing

Site selection involves determining optimal


locations for retail stores based on various
strategic, operational, and market factors.

It serves as a critical determinant of a retailer's


success and financial viability.
Factors Influencing Retail Site Selection

Operational Factors

Operational factors involve logistical considerations such as


supply chain access, staffing logistics, and cost
implications.

These factors impact the feasibility Site-Specific


of operating effectively
Factors
from a chosen site.
Site-specific factors encompass location visibility,
accessibility, parking availability, and surrounding
businesses. Evaluating these elements helps determine the
attractiveness of potential retail sites.
Market Factors

Market factors include consumer demographics, local


economic conditions, and market demand.
Understanding these factors is essential for aligning store
offerings with consumer needs and preferences.
Methods of Retail Site Selection

Methods of retail site selection include demographic analysis, location mapping,


competitive assessments, and financial modeling.

Employing these methods helps retailers identify the most viable locations for their
stores.
Methods of Retail Site Selection
Demographic Analysis:
Evaluates population size, income levels, age groups, and consumer behavior to assess demand.

Example: Reliance Trends selects locations with high youth populations for fashion-focused stores.

Location Mapping:
Uses GIS (Geographic Information System) to analyze foot traffic, road accessibility, and nearby businesses.

Example: Starbucks India maps metro stations and business hubs to identify high-footfall areas.

Competitive Assessments:
Studies existing competitors in the area to determine market saturation and differentiation strategies.

Example: D-Mart avoids opening stores too close to strong competitors like Big Bazaar to maintain profitability.

Financial Modeling:
Estimates expected sales, operating costs, and return on investment to ensure financial viability.

Example: Tata Croma assesses rental costs versus projected revenue before opening a store in premium malls.

59
09
Organizational Patterns in Retailing
Functional Organization

A functional organization structure divides the


retail operation into specialized departments
such as marketing, sales, and human
resources.

This approach enhances efficiency and allows


for expertise development in various areas.
Geographic Organization

Geographic organization structures retail operations


based on regional markets.

This model enables retailers to tailor strategies to


local preferences and market conditions, fostering
responsiveness to regional dynamics.
Product-Based Organization

In a product-based organizational
structure, retail operations are divided
according to product lines.

This organization enables focused


marketing and inventory strategies for
different product categories.
Customer-Based Organization

A customer-based organization focuses on different


customer segments, ensuring dedicated strategies for
each segment.

This approach enhances customer engagement and


satisfaction by tailoring services and products to specific
needs.
Process-Based Organization

Process-based organizations emphasize workflows and processes essential for delivering retail
services.

This structure supports efficiency and quality by streamlining operational procedures across different
functions.
Amazon Retail operations using Process-Based
Organization

Supply Chain & Inventory Management – Uses AI and predictive analytics to manage warehouse stock and optimize
order fulfillment.
Example: Amazon’s Just Walk Out technology in Amazon Go stores automates inventory tracking.

Order Processing & Fulfillment – Automated systems sort, pack, and dispatch orders through fulfillment centers.
Example: Amazon Prime ensures same-day or two-day delivery using streamlined logistics.

Customer Service & Support – Uses chatbots, AI-driven responses, and 24/7 customer service to enhance the
shopping experience.
Example: AI-powered chat assistant helps customers resolve return or refund issues.

Marketing & Personalization – Uses customer browsing history and AI algorithms for personalized product
recommendations.
Example: Amazon’s homepage suggests relevant products based on past purchases.

Financial Operations & Transactions – Implements secure payment gateways and fraud detection systems.
Example: Amazon Pay allows seamless transactions with cashback offers.
Hybrid Organization

A hybrid organization combines elements


from various organizational structures,
allowing for flexibility and adaptability.

This approach helps retailers leverage


the strengths of different structures to
optimize performance and meet strategic
objectives.
Activity TATA Croma outlet
Activity 1: Market Research (In-Class)
Students should research the demographics, purchasing power, and preferences of customers in Palakkad district. This can be done through online
research or by analyzing existing market data to understand the demand for electronic products and home appliances.
Activity 2: Location Identification (in-class)
Students should imagine potential locations in Palakkad district to assess the visibility, accessibility, and customer traffic. They can take note of areas
with high footfall, proximity to shopping areas, and easy accessibility.
Activity 3: Competitor Analysis (In-Class)
Analyze competitors in the area by identifying other electronic retailers or multi-brand outlets. This will help determine how to differentiate the
Croma outlet through better services, pricing, or product variety.
Activity 4: Target Audience Definition (In-Class)
Define the primary target audience based on the findings from market research. Students should consider factors like age, income level, and lifestyle
preferences to understand potential buyers of electronics.
Activity 5: Retail Marketing Strategy Development (In-Class)
Based on the research and field visit, students should propose marketing strategies. These can include promotional offers, exclusive launch events,
digital marketing campaigns, product demonstrations, customer loyalty programs, and in-store experiences.
Activity 6: Presentation and Justification (In-Class)
Students will prepare a presentation summarizing their chosen location and marketing strategies. They should explain the rationale behind their
decisions and how these strategies will help increase sales and customer engagement at the TATA Croma outlet.

68
Thank you

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