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Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
Retail Strategy Ric Anderson9.16.10
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Retail Strategy Ric Anderson9.16.10

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  • 1. RETAIL STRATEGY FIND THE BEST CUSTOMER FOR YOUR BUSINESS! AND MAKE IT WORK! by RIC ANDERSON
  • 2. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 2 OBJECTIVES:OBJECTIVES: Understand the processes to create a Retail StrategyUnderstand the processes to create a Retail Strategy with a Customer Centric Focuswith a Customer Centric Focus Learn to analyze your business and competition fromLearn to analyze your business and competition from a multi-dimensional point of view.a multi-dimensional point of view. Refine your “Customer Value Proposition”Refine your “Customer Value Proposition” Use Innovation as a Competitive AdvantageUse Innovation as a Competitive Advantage Understand the power of an “Engaged Culture”Understand the power of an “Engaged Culture”
  • 3. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 3 MURPHY'S LAW OF MANAGEMENT STRATEGYMURPHY'S LAW OF MANAGEMENT STRATEGY Some people manage by the book, even though they don't know who wrote the book or even what book.
  • 4. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 4 STRATEGYSTRATEGY THE DEFINITION OF BUSINESS STRATEGY IS: A LONG TERM PLAN OF ACTION DESIGNED TO ACHIEVE A PARTICULAR GOAL OR SET OF OBJECTIVES
  • 5. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 5 AGENDA:AGENDA: Frame of ReferenceFrame of Reference Goals and Point of ViewGoals and Point of View Visit the “3 Stages” of Strategy Timeline & PathVisit the “3 Stages” of Strategy Timeline & Path Breakdown “Stages” into ProcessesBreakdown “Stages” into Processes Finalize and ExecuteFinalize and Execute
  • 6. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 6 WHAT IS THE PURPOSE OF A BUSINESS?WHAT IS THE PURPOSE OF A BUSINESS?
  • 7. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 7 EVERY BUSINESS HAS A “PURPOSE!EVERY BUSINESS HAS A “PURPOSE! THAT PURPOSE IS TO PROVIDETHAT PURPOSE IS TO PROVIDE A PRODUCT OR SERVICEA PRODUCT OR SERVICE WHERE THE CUSTOMER HASWHERE THE CUSTOMER HAS A PERCEIVED VALUE!A PERCEIVED VALUE! KEY PIECEKEY PIECE OF THEOF THE PUZZLEPUZZLE  
  • 8. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 8 WHAT IS YOUR PURPOSE?WHAT IS YOUR PURPOSE? WHAT SANDBOX ARE YOU PLAYING IN?WHAT SANDBOX ARE YOU PLAYING IN?
  • 9. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 9 CURRENT STATE:CURRENT STATE: Your system is perfectly designed to produceYour system is perfectly designed to produce the results that you are getting today.the results that you are getting today.   LESSON:LESSON:   If you want fundamentally andIf you want fundamentally and substantially different results, you havesubstantially different results, you have to change the strategy and methodologyto change the strategy and methodology of how you are doing business!of how you are doing business! Insanity: Doing the same thing over and over again And expecting different results. Albert Einstein
  • 10. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS!10 THE “STRATEGY” FOR A RETAIL STORETHE “STRATEGY” FOR A RETAIL STORE IS A LIVING ORGANISM!IS A LIVING ORGANISM! INNOVATION KEEPS IT HEALTHY!INNOVATION KEEPS IT HEALTHY!
  • 11. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 11 ANDERSON’s 10 PILLARS:ANDERSON’s 10 PILLARS: BUILDING A FOUNDATION 1.1. 10,000 FT POINT OF VIEW10,000 FT POINT OF VIEW 2.2. CUSTOMER CENTRIC FOCUSCUSTOMER CENTRIC FOCUS 3.3. INTEGRATED STRATEGYINTEGRATED STRATEGY 4.4. MULTI-DIMENSIONAL SOLUTIONSMULTI-DIMENSIONAL SOLUTIONS 5.5. COMPETITIVE & INTERNAL INTELLIGENCECOMPETITIVE & INTERNAL INTELLIGENCE 6.6. SUPREMACY THROUGH COMPETITIVE ADVANTAGESSUPREMACY THROUGH COMPETITIVE ADVANTAGES 7.7. ABILITY TO SYNTHESIZE HIGHLY QUANTITATIVE ANDABILITY TO SYNTHESIZE HIGHLY QUANTITATIVE AND QUALITATIVE DATA INTO A LOGICAL CONCLUSION.QUALITATIVE DATA INTO A LOGICAL CONCLUSION. 8.8. CONTINUOUS INNOVATIONCONTINUOUS INNOVATION 9.9. ENGAGED CULTUREENGAGED CULTURE 10.10.COMMUNICATIONCOMMUNICATION
  • 12. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS!12 GOALS:GOALS: HIGH LEVEL Evaluate multiple “Solutions” to your Strategy.Evaluate multiple “Solutions” to your Strategy. Build a Strategy that can create growth, is profitable,Build a Strategy that can create growth, is profitable, sustainable, scalable, integrated, defendable andsustainable, scalable, integrated, defendable and has competitive supremacy.has competitive supremacy. Can easily be communicated.Can easily be communicated.
  • 13. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 13 GOALS :GOALS : POINT OF VIEW  Profitable “Market Niches” GrowthProfitable “Market Niches” Growth  High ROIHigh ROI  ““Best in Class” and “Top of Mind”Best in Class” and “Top of Mind”  Innovative Customer TouchpointsInnovative Customer Touchpoints  High Productivity Revenues ChannelsHigh Productivity Revenues Channels  FlexibleFlexible  Smooth TransitionSmooth Transition  Least RiskLeast Risk
  • 14. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 14   CRITICAL PATHCRITICAL PATH Predetermined set of Processes and TimelinesPredetermined set of Processes and Timelines SEEK OUT, SURFACE AND RESOLVESEEK OUT, SURFACE AND RESOLVE
  • 15. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 15 CRITICAL THOUGHT PROCESSCRITICAL THOUGHT PROCESS THE “CRITICAL THOUGHT PROCESS”THE “CRITICAL THOUGHT PROCESS” IS THE PATHWAY TO A SOLUTION!IS THE PATHWAY TO A SOLUTION!
  • 16. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 16 THREE STAGES OF BUILDING STRATEGY:THREE STAGES OF BUILDING STRATEGY: 1) Look, Listen and Learn 2) Evaluate, Collaborate and Test 3) Assemble and Execute  
  • 17. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 17 STAGE ISTAGE I LOOK, LISTEN AND LEARNLOOK, LISTEN AND LEARN CHAMPIONCHAMPION A Senior Executive has to be given Authority:A Senior Executive has to be given Authority:  Gather Data & Collect InformationGather Data & Collect Information  Ask difficult & hard questionsAsk difficult & hard questions  Request other’s time & assetsRequest other’s time & assets  Conclusion and ExecutionConclusion and Execution RequirementsRequirements  ListenListen  Open MindOpen Mind  Qualitative and Quantitative Skill SetsQualitative and Quantitative Skill Sets
  • 18. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 18 MARKETPLACEMARKETPLACE Which Marketplace?Which Marketplace? What Products?What Products? Value?Value? Channels of RevenueChannels of Revenue WHERE AND WHAT IS YOUR SANDBOX?WHERE AND WHAT IS YOUR SANDBOX?
  • 19. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 19 BRAND POSITION,BRAND POSITION, CUSTOMER VALUE PROPOSITIONCUSTOMER VALUE PROPOSITION andand BUSINESS MODELBUSINESS MODEL BRAND POSITIONBRAND POSITION CUSTOMER VALUECUSTOMER VALUE PROPOSITIONPROPOSITION (CVP)(CVP) BUSINESS MODELBUSINESS MODEL
  • 20. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 20 FINANCIAL GOALS and DATAFINANCIAL GOALS and DATA Plans vs. Current StatePlans vs. Current State ““Work Sessions” with Finance, Merchants Operations etc.Work Sessions” with Finance, Merchants Operations etc. Competitive IntelligenceCompetitive Intelligence Where are the opportunities?Where are the opportunities?
  • 21. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 21 PRODUCT CATEGORY REVIEWPRODUCT CATEGORY REVIEW MARKET SHAREMARKET SHARE FINANCIAL ANALYSISFINANCIAL ANALYSIS ANALYSIS BY PRODUCT FILTERSANALYSIS BY PRODUCT FILTERS COMPETITIVE ADVANTAGESCOMPETITIVE ADVANTAGES
  • 22. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 22 PRODUCT CATEGORY REVIEWPRODUCT CATEGORY REVIEW MARKET SHAREMARKET SHARE MARKET SHARE BY COMPETITOR JEANS PRODUCTS Comp. 1 Comp. 2 Comp. 3 Comp. 4 Comp. 5 Women's 10.0% 8.0% 4.0% 7.0% 6.0% Men's 4.0% 6.0% 8.0% 5.0% 4.0% Kids 5.0% 8.0% 7.0% 5.0% Footwear 8.0% 6.0% 7.0% Accessories 8.0% 6.0% 5.0% 1.0% 3.0% Intimate 6.0% 5.0% 4.0% 2.0% Fine Jewelry 5.0% Home 4.0% 7.0% 6.0%
  • 23. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 23 PRODUCT CATEGORY REVIEWPRODUCT CATEGORY REVIEW ADDITIONAL ELEMENTS:ADDITIONAL ELEMENTS:  INVENTORY – TURN – ROIINVENTORY – TURN – ROI  SALES SQ. FT. GM$ SQ. FT.,SALES SQ. FT. GM$ SQ. FT.,  MARKETING SPENDMARKETING SPEND  % OF EACH ELEMENT PER MONTH & YEAR% OF EACH ELEMENT PER MONTH & YEAR BREAKDOWN: Women’s, Men’s, Kids, Athletic, WorkBREAKDOWN: Women’s, Men’s, Kids, Athletic, Work FINANCIAL ANALYSIS SHOES 1,000,000s JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL SALES Reg 20$ 25$ 40$ 30$ 30$ 30$ 20$ 35$ 45$ 40$ 40$ 45$ 400$ Markdown 30$ 20$ 20$ 10$ 15$ 25$ 20$ 25$ 30$ 15$ 25$ 35$ 270$ TOTAL 50$ 45$ 60$ 40$ 45$ 55$ 40$ 60$ 75$ 55$ 65$ 80$ 670$ GM$ Regular 10$ 13$ 20$ 14$ 14$ 14$ 10$ 16$ 20$ 20$ 19$ 20$ 189$ Markdown 8$ 3$ 2$ 4$ 5$ 8$ 6$ 5$ 3$ 5$ 8$ 9$ 64$ TOTAL 17$ 16$ 22$ 18$ 19$ 21$ 16$ 21$ 23$ 25$ 27$ 29$ 253$ GM% Regular 48% 52% 50% 48% 45% 45% 48% 45% 45% 50% 48% 45% 47% Markdown 25% 15% 10% 35% 35% 30% 30% 20% 10% 35% 30% 25% 23% TOTAL 34% 36% 37% 45% 42% 38% 39% 35% 31% 46% 41% 36% 38%
  • 24. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 24 PRODUCT CATEGORIES FILTERSPRODUCT CATEGORIES FILTERS ANALYSIS OF EACH CATEGORYANALYSIS OF EACH CATEGORY Time PeriodTime Period Product to Market Channel/PathProduct to Market Channel/Path Marketing: Product & ChannelMarketing: Product & Channel ““Purple Cow” ViewpointPurple Cow” Viewpoint
  • 25. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 25 PRODUCT CATEGORY FILTERS:PRODUCT CATEGORY FILTERS: MARKET BASKET DEEP DIVE into multiple combinations of data MARKET BASKET WOMEN MEN SHOES TOTAL Dresses Sport Denim JR TOTAL Suiting Sport Denim YM Work TOTAL Women Kids ATH Men's Work WOMEN TOTAL 100% 30% 60% 40% 25% 40% 10% 30% 30% 15% 5% 60% 65% 40% 30% 30% 10% Dresses 30% 100% 40% 30% 15% 10% 8% 15% 20% 5% 1% 30% 50% 10% 7% 12% 3% Sport 60% 40% 100% 75% 40% 40% 5% 25% 30% 15% 2% 50% 60% 20% 10% 15% 4% Denim 40% 30% 75% 100% 25% 25% 5% 3% 30% 25% 10% 60% 60% 25% 15% 10% 5% JR 25% 15% 40% 25% 100% 20% 1% 15% 20% 20% 1% 40% 35% 30% 25% 5% 1% MEN TOTAL 40% 10% 40% 25% 20% 100% 40% 80% 50% 35% 50% 40% 25% 40% 30% 40% 30% Suiting 10% 8% 5% 5% 1% 40% 100% 60% 40% 20% 20% 30% 20% 20% 20% 30% 25% Sport 30% 15% 25% 3% 15% 80% 60% 100% 50% 30% 25% 40% 25% 35% 25% 40% 30% Denim 30% 20% 30% 30% 20% 50% 40% 50% 100% 45% 35% 40% 15% 30% 30% 40% 35% YM 15% 5% 15% 25% 20% 35% 20% 30% 45% 100% 10% 25% 10% 10% 25% 25% 10% Work 5% 1% 2% 10% 1% 50% 20% 25% 35% 10% 100% 30% 8% 15% 20% 30% 80% SHOES TOTAL 60% 30% 50% 60% 40% 40% 30% 40% 40% 25% 30% 100% 65% 40% 30% 35% 25% Women's 65% 50% 60% 60% 35% 25% 20% 25% 15% 10% 8% 65% 100% 60% 40% 30% 30% Kids 40% 10% 20% 25% 30% 40% 20% 35% 30% 10% 15% 40% 60% 100% 30% 45% 40% Athletic 30% 7% 10% 15% 25% 30% 20% 25% 30% 25% 20% 30% 40% 30% 100% 50% 40% Men's 30% 12% 15% 10% 5% 40% 30% 40% 40% 25% 30% 35% 30% 45% 50% 100% 80% Work 10% 3% 4% 5% 1% 30% 25% 30% 35% 10% 80% 25% 30% 40% 40% 80% 100%
  • 26. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 26 CUSTOMER PROFILECUSTOMER PROFILE KNOW AND UNDERSTAND YOUR CUSTOMERKNOW AND UNDERSTAND YOUR CUSTOMER Current Customer?Current Customer? Analytics?Analytics? Population of the Market?Population of the Market? Filters and Segments?Filters and Segments? Preferred Customer?Preferred Customer? Alternative Customer?Alternative Customer?
  • 27. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 27 CUSTOMER PURCHASING DECISIONCUSTOMER PURCHASING DECISION LASER FOCUS ON THE CUSTOMERLASER FOCUS ON THE CUSTOMER CUSTOMER TOUCHPOINTSCUSTOMER TOUCHPOINTS Visual, Physical or MentalVisual, Physical or Mental
  • 28. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 28 COMPETITIVE SUPREMACYCOMPETITIVE SUPREMACY BUSINESS WITH THE MOST INNOVATIVEBUSINESS WITH THE MOST INNOVATIVE COMPETITIVE ADVANTAGES WINS!COMPETITIVE ADVANTAGES WINS! ProductProduct Price, Value, Quality etc.Price, Value, Quality etc. Business ModelBusiness Model Customer Value PropositionCustomer Value Proposition Most positive Customer TouchpointsMost positive Customer Touchpoints
  • 29. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS!29 COMPETITIVE INTELLIGENCECOMPETITIVE INTELLIGENCE WHO? UNDERLYING COMPETITORS?WHO? UNDERLYING COMPETITORS? ANALYSISANALYSIS ““BEST IN CLASS”BEST IN CLASS” COMPETITIVE ADVANTAGESCOMPETITIVE ADVANTAGES
  • 30. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 30 COMPETITIVE ADVANTAGESCOMPETITIVE ADVANTAGES  PRODUCTPRODUCT  QUALITYQUALITY  BRANDSBRANDS  ASSORTMENTASSORTMENT  PRICE/VALUEPRICE/VALUE  EXCLUSIVEEXCLUSIVE  LOCATIONLOCATION  ETC.ETC.
  • 31. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 31 COMPETITIVE SUPREMACYCOMPETITIVE SUPREMACY BUILDING COMPETITIVE SUPREMACY COMP. 1 COMP. 2 COMP. 3 COMP. 4 COMP. 5 FINANCIAL ROI MARGIN SALES PRODUCT ASSORTMENT QUALITY UNIQUE BRAND POSITION HIGH MIDDLE LOW PRODUCT CHANNEL SPEED TO MARKET GEOGRAPHY CUSTOMER SERVICE VALUE ENGAGEMENT
  • 32. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 32 COMPANY HISTORYCOMPANY HISTORY History: PAST vs. CURRENTHistory: PAST vs. CURRENT What is driving the Business?What is driving the Business? Revenue ChannelsRevenue Channels Competition: old and newCompetition: old and new Economic StatusEconomic Status Changes in Population DemographicsChanges in Population Demographics Technology – Innovation?Technology – Innovation? Other Elements?Other Elements?
  • 33. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS!33 POWER OF CULTUREPOWER OF CULTURE ASSETS:ASSETS: PEOPLE AND CULTUREPEOPLE AND CULTURE ENVIRONMENTENVIRONMENT is one of trust, engagement, learning,is one of trust, engagement, learning, communication, listening and cooperation!communication, listening and cooperation! LEADERSHIPLEADERSHIP is at all levels!is at all levels! RESPONSIBILITYRESPONSIBILITY for own role!for own role! ALL SECTORSALL SECTORS to be utilizedto be utilized ENGAGEMENTENGAGEMENT has to be total!has to be total! CONTINOUS INNOVATIONCONTINOUS INNOVATION is top of mind in all sectors!is top of mind in all sectors!
  • 34. 34 INTERNAL INTELLIGENCEINTERNAL INTELLIGENCE ANSWERSANSWERS ARE WITHIN THE ORGANIZATIONARE WITHIN THE ORGANIZATION SOLUTIONSSOLUTIONS TO SURFACE IS THE ISSUE.TO SURFACE IS THE ISSUE. CROSS FUNCTIONAL SUPPORT GROUPSCROSS FUNCTIONAL SUPPORT GROUPS INTERVIEWS:INTERVIEWS: INDIVIDUAL AND GROUPINDIVIDUAL AND GROUP RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS!
  • 35. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS!35 REVENUE CHANNELS:REVENUE CHANNELS: WHICH ONES FIT YOUR STRATEGY?WHICH ONES FIT YOUR STRATEGY? STORESSTORES CATALOGCATALOG INTERNETINTERNET B2BB2B WHOLESALE TVWHOLESALE TV
  • 36. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 36 MARKETINGMARKETING CUSTOMER REACHED?CUSTOMER REACHED? MARKETING CHANNELS?MARKETING CHANNELS? CHANNELS BEST REFLECTCHANNELS BEST REFLECT THE BRAND?THE BRAND? EFFECTIVENESS BY CHANNEL?EFFECTIVENESS BY CHANNEL? REACH NEW CUSTOMERS?REACH NEW CUSTOMERS? INNOVATIVE TESTSINNOVATIVE TESTS SOCIAL MEDIASOCIAL MEDIA
  • 37. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 37 VENDOR COMMUNITYVENDOR COMMUNITY MOST UNDERUTILIZED ASSETMOST UNDERUTILIZED ASSET Vendor ConferenceVendor Conference  Products  Marketing  Logistics  Customer Experience  Competition  Innovative Solutions  Invite Cross-Functional Support members
  • 38. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 38 STAGE II:STAGE II: EVALUATE, COLLABORATE ANDEVALUATE, COLLABORATE AND TESTTEST USE OF MULTIPLE SOURCESUSE OF MULTIPLE SOURCES UNDERSTAND OPTIONSUNDERSTAND OPTIONS ALTERNATIVE SOLUTIONSALTERNATIVE SOLUTIONS QUANTIFIABLE TESTSQUANTIFIABLE TESTS INTEGRATED STRATEGYINTEGRATED STRATEGY
  • 39. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 39 COLLABORATECOLLABORATE TEAM PROJECTTEAM PROJECT MERCHANDISINGMERCHANDISING STORESSTORES MARKETING CHANNELSMARKETING CHANNELS CROSS FUNCTIONALCROSS FUNCTIONAL SENIOR TEAM MEMBERSSENIOR TEAM MEMBERS TRUSTED VENDORSTRUSTED VENDORS
  • 40. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 40 STAGE III:STAGE III: ASSEMBLE AND EXECUTEASSEMBLE AND EXECUTE REQUIRES THE SKILL OF SYNTHESISREQUIRES THE SKILL OF SYNTHESIS CREATE STRATEGYCREATE STRATEGY GATHER DATAGATHER DATA ALIGN SOLUTIONSALIGN SOLUTIONS INTEGRATE ALL ELEMENTSINTEGRATE ALL ELEMENTS CROSS FUNCTIONAL SENIOR TEAMCROSS FUNCTIONAL SENIOR TEAM SUMMARIZESUMMARIZE DISCUSSIONDISCUSSION HOT BUTTONSHOT BUTTONS COLLABORATIONCOLLABORATION
  • 41. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 41 LITMUS TESTLITMUS TEST BRAND, CVP, BUSINESS MODEL IN SYNCBRAND, CVP, BUSINESS MODEL IN SYNC PURPLE COWPURPLE COW INNOVATIVE COMPETITIVE ADVANTAGESINNOVATIVE COMPETITIVE ADVANTAGES PROFITABLEPROFITABLE SUSTAINABLESUSTAINABLE DEFENDABLEDEFENDABLE SCALABLESCALABLE INTERNAL ALIGNMENTINTERNAL ALIGNMENT SUPPORT FROM INDUSTRYSUPPORT FROM INDUSTRY
  • 42. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 42 PHASE III: Assemble and ExecutePHASE III: Assemble and Execute  FINAL STRATEGY:FINAL STRATEGY: TASK: INCORPORATE AS MANY OF THE GOALS FROM THE REVIEW AS POSSIBLE INTO A SEAMLESS COMPREHENSIVE AND A COLLABORATIVE STRATEGY. THE CORE SENIOR TEAM MAKES THE FINAL DECISION. CONGRATULATIONS! YOU HAVE COMPLETED 90% OF THE GOAL.
  • 43. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 43 COMMUNICATIONCOMMUNICATION SUCCESS TIED DIRECTLY TO COMMUNICATIONSUCCESS TIED DIRECTLY TO COMMUNICATION DISSEMINATEDISSEMINATE ACKNOWLEDGEMENTACKNOWLEDGEMENT ANTICIPATE ISSUESANTICIPATE ISSUES CHANGE MANAGEMENTCHANGE MANAGEMENT
  • 44. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 44 SUMMARYSUMMARY A STRATEGIC PROCESS THAT CAN BE USED BY THEA STRATEGIC PROCESS THAT CAN BE USED BY THE ENTIRE ORGANIZATION. EVERYONE HAS CONTRIBUTED,ENTIRE ORGANIZATION. EVERYONE HAS CONTRIBUTED, TAKES OWNERSHIP, UNDERSTANDS AND CAN EASILYTAKES OWNERSHIP, UNDERSTANDS AND CAN EASILY ARTICULATE TO OTHERS.ARTICULATE TO OTHERS.
  • 45. RETAIL STRATEGY : FIND THE BEST CUSTOMER FOR YOUR BUSINESS! 45     Do not repeat the tactics which haveDo not repeat the tactics which have gained you one victory, but let yourgained you one victory, but let your methods be regulated by the infinitemethods be regulated by the infinite variety of circumstances.variety of circumstances. Sun Tzu c. 490 BC, Chinese military strategist

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