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Retail Strategy
Vijyata
2
A retail strategy is the overall plan or framework of action that guides a
retailer. Ideally, it will cover at least one year and outline the retailer’s
mission, goals, consumer market, overall and specific activities, and
control mechanisms.
Retail strategic planning often occurs in cycles due to the seasonality
of much of retail activity. A retail strategy serves as a roadmap for the
next 3 to 5 years and helps thoughtful and objective decision making
on many key business elements
3
The target market, or markets, toward which the
retailer will direct its efforts;
The nature of the merchandise and services the retailer
will offer to satisfy the needs of the target market; and
How the retailer will develop unique assets that enable
it to achieve long-term advantage over its competitors.
Diagram: Steps in Retail Strategy Formulation 4
6. Control
Evaluation Adjustment
5. Specific activities
Daily short term operations Response to environment
4. Overall strategy
Controllables Variables Uncontrollable Variables
3. Identification of customer
Mass marketing Concentrated Marketing Differntiated marketing
2. Objectives
Sales profit image satisfaction of public
1. Situation Analysis
Organizational mission Ownership and management alternatives Goods/service category
THANK YOU!
For any query or
suggestion mail me at
vijyata.rwc@gmail.com or
comment in the
comment box

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Retail strategy

  • 2. 2 A retail strategy is the overall plan or framework of action that guides a retailer. Ideally, it will cover at least one year and outline the retailer’s mission, goals, consumer market, overall and specific activities, and control mechanisms. Retail strategic planning often occurs in cycles due to the seasonality of much of retail activity. A retail strategy serves as a roadmap for the next 3 to 5 years and helps thoughtful and objective decision making on many key business elements
  • 3. 3 The target market, or markets, toward which the retailer will direct its efforts; The nature of the merchandise and services the retailer will offer to satisfy the needs of the target market; and How the retailer will develop unique assets that enable it to achieve long-term advantage over its competitors.
  • 4. Diagram: Steps in Retail Strategy Formulation 4 6. Control Evaluation Adjustment 5. Specific activities Daily short term operations Response to environment 4. Overall strategy Controllables Variables Uncontrollable Variables 3. Identification of customer Mass marketing Concentrated Marketing Differntiated marketing 2. Objectives Sales profit image satisfaction of public 1. Situation Analysis Organizational mission Ownership and management alternatives Goods/service category
  • 5. THANK YOU! For any query or suggestion mail me at vijyata.rwc@gmail.com or comment in the comment box