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5-3
Retail Mix
Customer Location
Service
Communication Pricing
Mix
Retailing Strategy
Human Resource
Retail Locations Management
Chapters 7,8 Chapter 9
5-6
More attention to long-term strategic
planning than ever before
5-7
Elements in Retail Strategy
■ Target Market
the market segment (s) toward which the retailer
plans to focus its resources and retail mix
■ Retail Format
the nature of the retailer’s operations—its retail mix
■ Sustainable Competitive Advantage
an advantage over the competition
5-8
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Analyzing Otobi’s Retail Strategy
Target market?
5-9
Target Market
5-10
Target market and retail format:
Retail Market Opportunities for Women’s Apparel
5-11
Criteria For Selecting A Target Market
■ Attractiveness
Large
Growing
Little Competition
More Profits
■ Consistent with Competitive Ad.
5-12
Opportunities for retailers to develop sustainable
competitive advantages
■ Customer Loyalty
■ Location
■ Human Resource Management
■ Distribution & Information Systems
■ Unique Merchandise
■ Vendor Relations
■ Customer Service
5-13
Can A Retailer Develop a Sustainable
Competitive Advantage by:
5-14
Sources of Competitive Advantage
5-15
Internal and External Bases for
Competitive Advantage
Retail Firm
•Low Cost
•Large Size
•Efficient
Distribution,
Operations
Vendors, • Unique
Suppliers Customers
Knowledge
• Loyal Employees
Sources of
Capital
5-16
Loyalty
5-17
Customer Loyalty
5-18
Retail Branding
5-19
Loyalty Programs
5-20
Approaches for Building
Customer Loyalty
■ Unique Positioning
■ Location
■ Customer Service
■ Information About Customers (Database)
■ Unique Merchandise
5-21
Example of Positioning
5-22
Location
5-23
Human Resources
5-24
Distribution and Info Systems
Flow of Information
Vendor By decreasing costs here,
more money available to
Distribution Center
invest in:
Store -Better services
-Increase in breadth and depth
-Decrease in prices
5-25
Unique Merchandise: Private Labels
Rob Melnychuk/Getty Images
5-26
Jacobs Stock Photography/Getty Images
Vendor Relationships
5-27
High Quality Customer Service
■ Difficult to Achieve
People Are Not Machines -- Inconsistent
Retail Sales Associates At Bottom of Labor Pool
■ Goes Beyond Hiring Good People at High
Wages and Training Them -- Organizational
Culture
5-28
Critical Tradeoff In Developing
Strategic Advantage
5-29
Growth Strategies
■ Market Penetration
■ Market Expansion
■ Retail Format Development
■ Diversification
Related vs. Unrelated
5-30
Ansoff’s Product-Market Expansion Grid
31/32
Growth Opportunities
5-32
Market Penetration
5-34
Retail Format Development
5-35
Bharti Retail Ltd.
■ Easyday
■ Easyday market
■ Easyday Hyper
■ ACI
■ Shwapno
■ Shwapno MINI
5-36
Diversification
5-37
Global Growth Opportunities
Starbucks
Zara
H & M
Carrefour
Metro AG
5-38
Steve Cole/Getty Images
IKEA
5-39
Why Do Category Killers and Supercenters
Succeed Globally?
5-40
Key to Success in Global Retailing
5-41
Evaluating Global Growth Opportunities
■ China
Increasing operating costs
Lack of managerial talent
Underdeveloped and
inefficient supply chain
■ India
Prefers small family-owned
stores
Restricts foreign investment
5-42
Evaluating Global Growth Opportunities
5-43
Growth, Risk, and Market Size of
Top 30 Countries
5-44
International Market
Entry Strategies
Direct Investment
Joint Ventures
Strategic Alliances Profit and Risk
Franchising
5-45
Bharti Walmart Private Limited is a joint venture between
Bharti Enterprises and Walmart
5-46
Market Attractiveness/Competitive
Position Matrix
5-47
Steps in Using Market Attractiveness -
Competitive Position Matrix
5-48
Attractiveness Ratings for
International Growth Opportunities
5-49
Competitive Position in International
Growth Opportunities
5-50
Stages in the Strategic
Retail Planning Process
5-52
Elements in a Situation Audit
5-53
Market Factors
5-54
Competitive Factors
■ Barriers to entry
Scale economies of big box retailers
Service and unique, high-end products of small retailers
■ Bargaining power of vendors
Markets are less attractive when only a few vendors control the
merchandise sold within it
■ Competitive rivalry
Defines the frequency and intensity of reactions to actions
undertaken by competitors
Conditions leading to intense rivalry: a large number of same
size retailers, slow growth, high fixed costs, a lack of perceived
differences between competing retailers
5-55
Questions for
Analyzing the Environment
5-56
Performing a Self-Analysis
5-57
Stockbyte/Punchstock Images
Strengths and Weaknesses Analysis
Management Capability:
Capabilities and experience of top management
Depth of Management--capabilities of middle management
Management’s commitment to firm
Financial Resources:
Cash flow from existing business
Ability to raise debt or equity financing
Operations: Store Management Capabilities
Overhead cost structure Management capabilities
Quality of operating systems Quality of sales associates
Distribution capabilities Commitment of sales associates to firm
Management information systems
Loss prevention systems Locations
Inventory control system
Merchandising Capabilities:
Knowledge and skills of buyers Customers
Relationships with vendors Loyalty of customers
Capabilities in developing private
capabilities
5-58