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How to plan against retail competition?

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How to plan against retail competition?

  1. 1. Volume 1 | Issue 20 11th July 2017 How to plan against retail competition? Plan against competition
  2. 2. We have broken this article into 2 parts Steps to follow Example
  3. 3. • Steps to follow We could try the WIN approach  Write needs and perceptions of customers and competition  Include weight ages and scores of above  Needs and perception total scores are strategized against
  4. 4. • Example  Write needs and perceptions of customers and competition If for a retail product the key one need is price and perceptions are price, brand and experience  Include weightages and scores of above If the following table appears for the same Need / Perception Weightages (total 10) Player 1 (max 5) Player 2 (max 5) Price 3 2 3 Brand 2 2 1 Experience 5 2 4 Total      
  5. 5. • Example  Needs and perception total scores are strategized against Need / Perception Weightages (total 10) Player 1 (max 5) Weighted Total Player 2 (max 5) Weighted Total Price 3 2 6 3 9 Brand 2 2 4 1 2 Experience 5 2 10 4 20 Total 20 31 Hence Player 1 though lower in price and higher on brand will not get the order as his total is only 20 due to less experience. However if Player 2 increased his brand building exercise he could get a increase in market share So use WIN to win
  6. 6. Author Prashant Khanna Director & Co-founder Enhance Systems Private Limited Delight through learning Feel free to visit www.enhancelearning.co.in for details, learning case studies and demos.

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