Chapter 5 - Retail marketing strategy. This chapter describes the development of a retail market strategy. In this chapter, we will address the following questions: What is a retail strategy? How can a retailer build a sustainable competitive advantage? What steps do retailers go through to develop a strategy? What different strategic growth opportunities can retailers pursue? What retailers are best positioned to become global retailers? | Chapter 5 Retail Marketing Strategy Retailing Strategy Retail Market Strategy Chapter 5 Financial Strategy Chapter 6 Retail Locations Chapters 7,8 Human Resource Management Chapter 9 Information and Distribution Systems Chapter 10 Customer Relationship Management Chapter 11 5- “Strategy” Is Over Used Retailers Talk About A Lot of Different “Strategies” Sales Strategy Advertising Strategy Merchandise Strategy Location Strategy Strategy Is Not Just Another Term for A Management Decision 5- Strategic vs. Tactical Decisions Strategic Tactical Direction Implementation Strategy statement Annual plan Broad Specific, detailed Unstructured Structured Problem solving Problem solving Creativity Analytical External focus Internal focus Irregular Regular Long-term Short-term Difficult to evaluate Easy to evaluate Note: Success Comes for Having a Good Strategy and Executing It Well 5- Elements in Retail Strategy Target Market Customer Needs Retail Format Method for Satisfying Needs Bases for Building Sustainable Competitive Advantage Defending Position Against Competitors © image100 Ltd 5- Analyzing McDonalds’ Retail Strategy What Is McDonalds’: -Target market? -Retail offering (format)? -Bases for competitive advantage? What Threats Might McDonald’s Face in the Future? The McGraw-Hill Companies, Inc./John Flournoy, photographer 5- Examples of Retail Strategies Starbucks Kohls Restoration Hardware Ukrop’s What is the target market, retail offering, and source of competitive advantage for each retailer? 5- Chico’s Strategy Target Market Woman 35 to 55 Who Want Comfortable, Casual, But Stylish Apparel Retail Format Specialty Apparel Stores in Malls and Strip Centers Selling Private Label, Coordinated Outfits Bases for Building Sustainable Competitive Advantage Unique Merchandise Sized 0,1,2,3 5- Strategy for Looking for a Job Determine Your Target Market Area of Country Type of Company Type of Position Assess and Exploit Your Competitive . | Chapter 5 Retail Marketing Strategy Retailing Strategy Retail Market Strategy Chapter 5 Financial Strategy Chapter 6 Retail Locations Chapters 7,8 Human Resource Management Chapter 9 Information and Distribution Systems Chapter 10 Customer Relationship Management Chapter 11 5- “Strategy” Is Over Used Retailers Talk About A Lot of Different “Strategies” Sales Strategy Advertising Strategy Merchandise Strategy Location Strategy Strategy Is Not Just Another Term for A Management Decision 5- Strategic vs. Tactical Decisions Strategic Tactical Direction Implementation Strategy statement Annual plan Broad Specific, detailed Unstructured Structured Problem solving Problem solving Creativity Analytical External focus Internal focus Irregular Regular Long-term Short-term Difficult to evaluate Easy to evaluate Note: Success Comes for Having a Good Strategy and Executing It Well 5- Elements in Retail Strategy Target Market Customer Needs Retail Format Method for Satisfying Needs .
