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Strategy Tactics
Planning, Direction Implementation
Broad Specific, detailed
Unstructured Structured
Problem solving Problem solving
Creative Analytical
External focus Internal focus
Irregular Regular
Long-term Short-term
Difficult to evaluate Easy to evaluate
Controllable Uncontrollable
What are the
What areVariables
the elements Variables
environmental
of the retail mix?
variables?
Store Location Consumers
Store Format & Layout Competition
Merchandise Management Technology
Pricing Economic Conditions
Communications Seasonality
Legal Restrictions
What is McDonalds
Target market
Retail format
Bases for competitive advantage
What threats might it face in the future?
Whats the
3rdTarget
element
of retail
Market
Retail Marketing Mix: Strategy? Competition & Environment:
Controllable Factors Uncontrollable Factors
Controllable Uncontrollable
Variables Variables
Retail
Store Location Strategy Consumers
Store Format & Layout Competition
Merchandise Management Technology
Pricing Economic Conditions
Communications Seasonality
Legal Restrictions
Dropping prices
Building a store at the best location
Selling hot merchandise
Increasing advertising
Attracting better sales associates by
paying higher wages
Providing better customer service
Situation
Audit
Identify Strategic
Opportunities
Evaluate Strategic
Alternatives
Establish Objectives,
Allocate Resources
Develop a
Retail Mix
Evaluate Performance,
Make Adjustments
Retail Market Strategy 5.8
Situation Analysis
Organizational Mission Statement
Define the
Ownership & Management
Mission
Product Category
SWOT Analysis
Weak
High
Window
of
Opportunity
Low
High Low
Retail Market Strategy 5.12
SWOT Analysis
SWOT Analysis is a Strengths Weaknesses
systematic approach Retail Mix plus Retail Mix plus
Management capabilities Management capabilities
to optimizing the fit Financial Resources Financial Resources
between external & Overhead Cost Structure Overhead Cost Structure
Merchandising Capabilities Merchandising Capabilities
internal vars Store Management Capabilities Store Management Capabilities
Store Locations Store Locations
Loyalty of Customers Loyalty of Customers
Opportunities
Consumer Trends
Competitiion
Economic Conditions
Seasonality
Legal Restrictions
Identify the
Threats Strategies
Consumer Trends
Competition
Economic Conditions
here
Seasonality
Legal Restrictions
Situation
Analysis Sales & Profit
15%
Krispy Kreem
Wal-Mart
Burger King
Situation
Analysis Sales & Profit
Corporate
Objectives
Identify
Consumers
Corporate
Objectives
Identify
Consumers
Evaluation
Control
(Monitoring) Adjustment
Whats
Yourthe
rd
3 element
Target
of retail
Your Marketing Mix: Jobs
Strategy? Competition & Environment:
Controllable Factors Uncontrollable Factors
Controllable Uncontrollable
Variables Variables
Your education Job
Job history Strategy The economy
Skills Job availability
Interests The competition
Commitment Etc.
Ability to distinguish
yourself
33
30 31
% Critically
Attribute Important
Integrity 96.7
Strong work ethic 86.9
Professional demeanor 85.2
Initiative 83.6
Emotional maturity 80.3
Self confidence 79.0
Leadership ability 78.7
Personable 62.9
Creativity 55.0
Self- Employer
Knowledge Knowledge
A Career Position
Retail Market Strategy 5.27
Telling the Same Thing