This document discusses the importance of strategic planning for retail companies. It states that planning is necessary for retailers to remain competitive by improving systems and using more sophisticated planning. Retailers need to plan key areas like merchandise, inventory, logistics, pricing, promotions, store layout, positioning, branding, and growth. The purpose of planning is to act as a guide for management activities and ensure the company considers alternative actions and functions as expected. Ignoring planning can lead to issues like missing opportunities, losing market share, dissatisfied customers, and low employee motivation. The document also discusses market research and outlines the planning and research process.

1. STRATEGIC
MARKETING
PLANNING
MODULE - 1
DONE BY:
STUTI SHARMA
ZAYANA FIROZ
AISHWARYA MAHADEVAN

2. WHY RETAIL COMPANY SHOULD
ADOPT PLANNING?
 Some retailers stand out in the competitive ‘crowd’ due to their ability to
create successful marketing changed through well-defined plans.
 Planning options should be considered according to their acceptability and
feasibility in the marketplace.
 Without the right approach, and a sensible plan, alternative courses of action
will seldom be considered and consequently there’s a likelihood that an
organization will not function as expected.
 If a retail company has to remain competitive, continual improvement in
systems of planning and increasingly sophisticated planning are necessary.

3. Retailers need to plan for the following functions:
 Merchandise
 Inventory control
 Logistics
 Pricing
 Promotional campaigns
 Store location and layout
 Positioning
 Branding
 Growth
 Plan should focus on the above areas and act as guide for all the
management activities. Therefore, marketing planning is a key function of
management.

5.  Retail planning often occurs in cycles due to the seasonal trends of the retail
industry.
 Any plan relates to a future horizon of 1 to 5 years where the long term plans
maybe more than 5 years
 Marketing plans generally cover short and medium term whereas strategic
plans which considers the external opportunities and threats cover medium to
long term.
 The purpose of creating different plans is to improve business for the present
as well as the future and ensure that customers continue to be satisfied with
the retail experience and offers.
 All retailers have to devise forward plans of where a company, outlet or
product would be best placed for the future.

6. PROBLEMS IF RETAIL PLANNING IS
IGNORED
 Failure to take advantage of potential retail growth markets and new
marketing opportunities.
 Lack of maintenance of demand of various markets and erosion of market
share.
 Customer expectations are not met and service weakens.
 Low demand periods
 Low level of awareness of competitors strategy
 Poor image associated with store, group name or brand
 Decline in quality levels
 Difficulty in convincing suppliers of company’s strengths
 Lack of motivation of employees

7.  While planning cannot guarantee success, it can make the organization less
vulnerable to market forces.
 Retail companies need to plan to have world class services or at least
distinctive competence in order to be successful.
 Companies that believe in ad hoc initiatives or fail to manage their future will
find that their future has been managed for them.
 Companies will benefit more from a future that is made to happen because
clear direction provides fewer surprises for the workforce and place less
pressure on other company resources.
 At present, great importance is placed on building brand strength and if
appropriate own brands because retail brand strength can allow a company to
be more successful in new ventures like loyalty schemes and financial
services.

8. PURPOSE OF A MARKETING PLAN
•To provide clear direction
•To coordinate resources of the company
•To set targets
•To minimise risk through analysis
•To asses targeting
•To provide a record of the companies marketing policies and plans.
•To focus on longer term action

9. REASONS FOR POOR PLANNING
 Weak support of plan from the senior people and chief executives.
 System of planning adopted may not suit the company.
 Planning system is actually blamed when the weakness is
actually poor planning and management.
 Unexpected environmental changes can affect the performance of
the company adversely.
 Different acceptable levels of the plan.
 Over abundance of information which has to be filtered for its
relevance. Too much detail in the early stages can produce what
is often referred to as “paralysis analysis”.

10.  Studying about the Market in detail
 Studying about market segment ,target market, clientele
 It involves both social and opinion research
MARKET RESEARCH

11.  Identification and Defining problem
 Statement of Research Objective
 Planning the research design
 Planning the sample
 Data collection
 Data processing and analysis
 Formulating conclusion , preparing and presenting the report.
PROCESS OF MARKET RESEARCH

12.  Helps to identify new market opportunities for existing and new
products
 Helps to study consumer behaviour
 Supplies market related information
 Helps to select suitable sales promotion Techniques
 Helps to evaluate market performance
 Maintaining competitiveness over competitors
SIGNIFICANCE

13.  Effect of extraneous factors
 Cost consideration
 Problem of rapid change
 Problem of trust and accuracy
 Subjective or biased results
LIMITATIONS

14. BUSINESS SCENARIOS

15.  Mr. X ,is setting up a super store ,But he notices that the super
store has not been able to make profit since, it shifted from north
to south zone .Comment on the problems the store faced.
BUSINESS SCENARIO 1

16.  Imagine a situation ,where your store has been doing well, But in
order to grow in particular towards customization feature , what
would be your inputs?
BUSINESS SCENARIO 2

17.  As the Manager of “crimsom” store ,you have been lucky in
receiving timely feedback from your customers. But, What would
you do to retain them , apart from this? Comment.
BUSINESS SCENARIO 3