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McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
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Retailing Strategy CHAPTER 5
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Financial Strategy
Retail Locations
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Questions CHAPTER 5
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More attention to long-term strategic
planning than ever before
CHAPTER 5
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Elements in Retail Strategy CHAPTER 5
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• 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
© image100 Ltd
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Criteria For Selecting A Target Market CHAPTER 5
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• Attractiveness -- Large,
Growing, Little
Competition More
Profits
• Consistent with Your
Competitive
Advantages
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Can A Retailer Develop a Sustainable
Competitive Advantage by:
CHAPTER 5
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Sources of Competitive Advantage CHAPTER 5
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• Retail brand
• Can create an emotional
tie with customers that
build their trust and
loyalty
• Facilitates store loyalty
because it stands for a
predictable level of quality
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Approaches for Building
Customer Loyalty
CHAPTER 5
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• Brand Image
• Positioning
• Unique Merchandise
• Customer Service
• Customer Relationship Management Programs
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Example of Positioning CHAPTER 5
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Vendor Relationships CHAPTER 5
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Human Resources Management CHAPTER 5
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Distribution and Info Systems CHAPTER 5
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Flow of Information
By decreasing costs here, the
Vendor
is more money available to
Distribution Center invest in:
Store
-Better services
-Increase in breadth and depth
-Decrease in prices
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Location CHAPTER 5
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Growth Strategies CHAPTER 5
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• Market Penetration
• Market Expansion
• Retail Format Development
• Diversification
• Related vs. Unrelated
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Growth Opportunities CHAPTER 5
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Market Penetration CHAPTER 5
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Retail Format Development CHAPTER 5
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Global Growth Opportunities CHAPTER 5
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• China
• Increasing operating costs
• Lack of managerial talent
• Underdeveloped and
inefficient supply chain
• India
• Prefers small family-owned
stores
• Restricts foreign
investment
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Key to Success in Global Retailing CHAPTER 5
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International Market Entry Strategies CHAPTER 5
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Direct Investment
Joint Ventures
Strategic Alliances
Franchising
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Stages in the Strategic
Retail Planning Process
CHAPTER 5
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Elements in a Situation Audit CHAPTER 5
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Market Factors CHAPTER 5
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Competitive Factors CHAPTER 5
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• 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
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Competitive Factors CHAPTER 5
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• 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
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Questions for
Analyzing the Environment
CHAPTER 5
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Performing a Self-Analysis CHAPTER 5
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Stockbyte/Punchstock Images
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Keywords CHAPTER 5
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