The document provides an overview of developing a retail strategy focused on finding the best customer. It discusses understanding the business and competition through analysis, refining the customer value proposition, and leveraging innovation. The strategy development process involves three stages: looking, listening and learning about the marketplace and customers; evaluating, collaborating and testing ideas; and assembling and executing the final strategy. Key elements include analyzing financial and category level product data, understanding customer profiles and segments, and using filters to deeply examine the business and opportunities. The overall goal is to build a strategy that creates profitable growth through a customer-centric approach.
Blue Ocean Strategy - Creating Value Innovationsmelanie_ernst
Why still bothering what the competition is doing? Can you really win the battle? Or wouldn’t it be much nicer to get out and create your own market, where YOU are the only supplier. Blue Ocean Strategy leads you to uncontested market space, making the competition irrelevant by creating and capturing new demand, breaking the value-cost-trade off and aligning the whole system of a firm's activities in pursuit of differentiation and low cost.
The concepts behind Blue Ocean Strategy are tangible and well documented. They are relatively easy to understand and apply to innovation processes and business development.
Blue Ocean Strategy - Creating Value Innovationsmelanie_ernst
Why still bothering what the competition is doing? Can you really win the battle? Or wouldn’t it be much nicer to get out and create your own market, where YOU are the only supplier. Blue Ocean Strategy leads you to uncontested market space, making the competition irrelevant by creating and capturing new demand, breaking the value-cost-trade off and aligning the whole system of a firm's activities in pursuit of differentiation and low cost.
The concepts behind Blue Ocean Strategy are tangible and well documented. They are relatively easy to understand and apply to innovation processes and business development.
In this presentation, we will introduce the concept of “Blue Ocean Strategy”, to help you understand and gain a strong foothold in online competitive market place.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
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Blue Ocean Strategy was developed by W. Chan Kim and Renée Mauborgne. They observed that companies tend to engage in head-to-head competition in search of sustained profitable growth. Yet in today’s overcrowded industries competing head-on results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Lasting success increasingly comes, not from battling competitors, but from creating blue oceans of untapped new market spaces ripe for growth.
Blue Ocean Strategy challenges everything you thought you knew about strategic success and provides a systematic approach to making the competition irrelevant.
Blue Ocean Strategy by W. Chan Kim and Renee MauborgneSameer Mathur
A cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool.Here is a book summary of "Blue Ocean Strategy" compiled by Prof. Sameer Mathur.
In this presentation, we will introduce the concept of “Blue Ocean Strategy”, to help you understand and gain a strong foothold in online competitive market place.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Blue Ocean Strategy was developed by W. Chan Kim and Renée Mauborgne. They observed that companies tend to engage in head-to-head competition in search of sustained profitable growth. Yet in today’s overcrowded industries competing head-on results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Lasting success increasingly comes, not from battling competitors, but from creating blue oceans of untapped new market spaces ripe for growth.
Blue Ocean Strategy challenges everything you thought you knew about strategic success and provides a systematic approach to making the competition irrelevant.
Blue Ocean Strategy by W. Chan Kim and Renee MauborgneSameer Mathur
A cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool.Here is a book summary of "Blue Ocean Strategy" compiled by Prof. Sameer Mathur.
Tnooz-Fusion FREE webinar: The science behind ancillary merchandisingtnooz
The travel industry knows there's great promise in selling ancillary products to travelers who want more ways to experience their journey.
Fusion's research shows 61% of customers are open to buying add-ons to complement their flight purchase. However, only 37% say the ancillary products being offered are relevant, and only 12% say airlines specifically are doing a good job of customizing offers.
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Gene Quinn, CEO & Producer, Tnooz
This webinar took place on the 10th of November, 2016.
Watch Dan Ross, Managing Director for Optimizely ANZ in our latest webinar from the Experimentation Insights Tour -- "7 Habits of Highly Effective Personalisation Organisations”
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DESCRIPTION: Create a data-driven culture and affect business decisions at the broader company level. When most people think of experimentation or testing, they think of sales and marketing.
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Optimizely is the world's leading experimentation platform, enabling businesses to deliver continuous experimentation and personalisation across websites, mobile apps and connected devices. Optimizely enables businesses to experiment deeply into their technology stack and broadly across the entire customer experience.
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As a product manager, your entire job revolves around deciding what you need to do next, in other words, having a product strategy. Successful product strategy means balancing all factors such as internal capabilities, competitive landscape, user needs and available opportunities. Moharyar discusses these challenges and provides a few simple frameworks one can apply to assess which direction to take to ensure the overall success of their product.
Moharyar has over 5 years’ experience as a product manager, working for companies such as Apple, Bell and Loblaw Digital. Moharyar is passionate about early stage start-ups and is a lead instructor for Product Management at BrainStation. His background in engineering, combined with his Master's in Business Administration from Queen's University, has allowed him to develop a deep understanding of product management. Moharyar blogs on popular Product concepts and at one point was the number 1 “Most Viewed Author” on Minimum Viable Product on Quora.
You can find Moharyar on Twitter @MoeAli454
---------------------------------
Join us in the #toronto channel on Slack: http://slack.mindtheproduct.com/
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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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
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!
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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
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