Chapter 4
Retail Marketing Strategy
Long term strategic : New competitors
: New formats
: New Technologies
: Shifts in customers needs
Main point to focus
- Target market
- Retail Format
- Sustainable competitive advantage
Target market
specific target market which is woman in 33-40 y/o only.
Sustainable competitive advantage
- Customer loyalty
- location
- HRM
- Unique merchandise
- Vendor relation
- Customer service
3 approaches that sustainable competitive advantage
- Build strong relationship with customer
- Customer loyalty-how long the customer use our product
- Brand image-all people or customer know what symbols of the company like Mcdonald ( M)
- Unique merchandise-their own brand product like IKEA (their bottle ),JayaJusco(scarlet)
- Unique positioning-
- CRM-typically focused on reward based on how much their purchased.
- Customer service-attitude and behavior staff towards customer because most of customer want a good and extra service and effect whether they want to buy or not.
2. Build relationship with suppliers
- HRM
- Distribution and information system.
HRM
-making strategy for retaining the employees
- making organizational
Distribution and information system
- location:
- Growth strategies-->market penetration
--> market expansion
--> Diversification
--> Retail format Development
3. International market entry strategy
Stage strategic retail planning process
- Define the business mission
- Conduct a situation audit:(Market attractiveness strategy,competitor analysis,self-analysis)
- Identify strategic opportunities
- Evaluate strategic alternatives
- Established specific objective and allocate resources
- Develop a retail mix to implement strategy
- Evaluate performance and make adjustment
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