Retail Market

Strategy
Submitted
By

Saikat Pal
Arijit Nandy
Koustav Ghosh
Mohit Jain
Sai Surya Shasank

Retail Marketing Strategy

A retail strategy would mean a clear and definite plan that the retailer outlines to tap the
market and build a long-term relationship with the consumer.
Type of Major
Retail Stores

Departmental
Department
al Stores
Stores

Specialty
Stores

Supermarket

Convenience
Stores

Discount
Stores

Factory
Outlets

Shopping
Shopping
Malls
Malls

Why retail strategy??

It provides rough analysis of requirement for different types of retailing
It outlines the goals of the retailer
It increases its efficiency of operation
Firm learns how to differentiate
Retailer studies the legal, economic and competitive environment
Retailers seek the maximum opportunities to sale
To maintain & improve its customer relations.

Mission of the organization

The mission statement is a statement of the long term purpose of the organization. A
retailers mission statement would normally highlight the following elements:
The products and services that will be offered
The customers who will be served
The geographic areas that the retailers chooses to be in
The manner in which the firm intends to compete in its chosen markets

Steps involved in developing a Retail Strategy

Define the business mission
Conduct situation audit like competitor analysis, self-analysis
Identify strategic opportunities
Evaluate alternatives stategies
Establish strategic objectives & resource allocation
Develop a retail mix to implement stategies
Evaluate performance

KEY Elements in Retail Strategy

Store image
Target customers
Sustainable Competitive Advantage

Growth Strategies

New

Market
Penetration

Retail
Format
Developmen
t
Market segments

New

Market
Expansion
Diversificatio
n

Retail formats

Existing

Existing

Market Penetration
Increase the basket size
Increase the number of customer
Increase the purchase frequency

Market Expansion
New market segment with existing formats
New customer base

Retail Format Development

Retail Format Development Growth Opportunity- directed towards existing
customers using the retailers newly developed retailing format
Ex. Tesco having both Tesco Metro and Tesco Express stores

Diversification
Diversification Growth Opportunity- directed toward new customers
using the retailers newly developed retailing format; either Related or
Unrelated
Related Diversification Growth Opportunity- retailers present target
market or retail format shares something in common with the market or
format being considered

Retail Mix
Customer

Location

Service
Store Design
And Display

Retai
l
Mix

Communication
Mix

Merchandis
e
Assortment

Pricing