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Retail marketing final ppt
- 1. Retail Strategic Planning Submitted to Submitted by Prof. Yamini Jaiswal Gajraj S Pawar Prabhjot S Luthra Shubham Ahuja MBA(BE)IV Sem
- 2. Contents • Introduction • Steps involved in retail strategic planning • Individual step discussion • Practical implication of those strategies in Wal-Mart
- 3. Retail Planning • A clear and definite plan outlined by the retailer to tap the market • A plan to build a long-term relationship with the consumers • Process of strategy formulation in retail is the same as that for any other industry • It starts with the retailer defining or stating the mission for the organization • The mission is at the core of the existence of the retailer • Other aspects of the strategy may change over a period of time or vary for different markets
- 4. Steps In Designing Retail Strategy
- 5. Objectives Objectives helps mould a strategy and translates the organizational mission into action. These objectives can be: • Sales (growth, market share) • Profit (level, ROI, efficiency) • Satisfaction of publics (stockholders and consumers) • Image (customer and industry perception).
- 6. Identification of Consumer Characteristics & Needs Strategic Mass Concentrated Differentiated Implications marketing Marketing Marketing Retailer’s near a large near a small or medium near a large Location population base population base population base Goods/ wide assortment deep assortment of high distinct goods/services Services of medium quality quality or low quality items aimed at each segment items Price popular prices High or Low High, Medium and Orientation Low Strategy General Specific Specific Promotion mass advertising Direct mail/ Different Media for Efforts subscription each segment
- 7. Overall Strategy Controllable Variables •Store location •Managing business •Merchandise mgmt. •Pricing •Communicating with customer Uncontrollable Variables •Consumer •Competition •Technology •Economic conditions •Seasonality •Legal restrictions Retail Strategy
- 9. Specific Activities In store management: Width and depth of merchandise, quality of goods & services offered, buying decisions, budgeting, forecasting, retail accounting, level of inventory. Pricing techniques, range of price. Communicating with Customers: Building & maintaining image as well as promotional techniques. Store exteriors, layouts, displays, wall and floor colors, lights, music, smell, temperature, kind of sales personnel, customer service. Flyers, ad campaigns, sales promotion. Free publicity through stories written, televised or broadcast.
- 10. Control Elements are coordinated to have a consistent, integrated strategy and to systematically account for uncontrollable variables. Control Retail audit Feedback
- 12. Wal-Mart’s Retail Mix Retail Strategy Customer Service Location Merchandise Assortment PricingCommunication Mix Store Design And Display
- 13. Wal-Mart’s Retail Mix Free-standing Stores Customer Service Customer Service Merchandise Assortment Merchandise Assortment PricingPricing Communication Mix Communication Mix Store Display And Design Store Display And Design Location Strategy
- 14. Wal-Mart’s Retail Mix Location Pricing Communication Mix Store Design and Display Customer Service Large Number of Categories Few Items in Each Category Assortment Strategy
- 15. Wal-Mart’s Retail Mix Location Communication Mix Store Design and Display Customer Service Merchandise Assortment Low, EDLP Pricing Strategy
- 16. Wal-Mart’s Retail Mix Communication Mix TV and Newspaper Insert Ads LocationLocation PricingPricing Store Design and Display Store Design and Display Customer Service Customer Service Merchandise Assortment Merchandise Assortment
- 17. Wal-Mart’s Retail Mix Store Design and Display Basic, Special Displays for Products Customer Service Customer Service LocationLocation Merchandise Assortments Merchandise Assortments PricingPricing Communication Mix Communication Mix
- 18. Wal-Mart’s Retail Mix Customer Service Limited LocationLocation Merchandise Assortment Merchandise Assortment PricingPricing Communication Mix Communication Mix Store Design and Display Store Design and Display
Editor's Notes
- When a company engages in mass marketing, it chooses to overlook differences among the various segments in its market and instead to appeal to the entire market with one uniform strategy or offer, and one example is the Coca-Cola television ads that appear during the winter holidays. The polar bears cavorting and drinking Coca-Cola are designed to appeal to just about everyone, and because Coca-Cola is a product that spans different niches in terms of popularity, this is a campaign that has proved successful over time. A concentrated marketing strategy is targeted to one specific market segment or audience. For example, a company might market a product specifically for teenage girls, or a retailer might market his business to residents in a specific town. A differentiated marketing strategy is when a company creates campaigns that appeal to at least two market segments or target groups. For example, a store can promote a sale that appeals to people in at least two cities or locations, or a company can market a product that appeals to women in at least two age groups.
- As ankur discussed all these factor so we should move need not to discuss this factor
- 3 .CCD OPENING CCD EXPRESS Tesco Extra: one-stop destination with the widest range of food and non-food products Tesco Metro: bring convenience to city center location by specializing in ready-to-eat meals 2. EXAMPLE: Mc DONALDS 4. EG ITC GOING INTO APPAREL AND NOW INTO GREETING CARDS. 1 use of effective marekting so to ensure market penetration . Like low price better customer service etc sale n offer
- A definition of the term "free-standing store" is presented. It refers to a retail store that is located in a building not attached to a larger structure and contains only a single retail store. The product lines of such retailers sell best when shoppers are not exposed to other retailers who offer competitive products in close proximity. Several free-standing stores find it difficult to convert normal retail space to their use due to special requirements for a service and sales
- Everyday low price (also abbreviated as EDLP) is a pricing strategy promising consumers a low price without the need to wait for sale price events or comparison shopping. EDLP saves retail stores the effort and expense needed to mark down prices in the store during sale events, and is also believed to generate shopper loyalty.[1] It was noted in 1994 that the Walmart retail chain in the United States, which follows an EDLP strategy, would buy "feature advertisements" in newspapers on a monthly basis, while its competitors would advertise weekly.[1][2] Other firms that have implemented or promoted EDLP are Procter & Gamble, Food Lion, Gordmans and Winn-Dixie.[2]