chap 3

33問 • 1年前

問題一覧

Elements of a Retail Strategy (6)

Situation analysis Objectives Identification of consumers Overall strategy Specific activities Control

is a candid evaluation of the opportunities and threats facing a prospective or existing retailer

situation analysis

are marketplace openings that exist because other retail- ers have not yet capitalized on them. Ikea does well because it is the pioneer firm in offering a huge selection of furniture at discount prices.

opportunities

are environmental and marketplace factors that can adversely affect retailers if they do not react to them (and, sometimes, even if they do).

threats

is a retailer’s commitment to a type of business and to a distinctive role in the marketplace. It is reflected in the firm’s attitude toward consumers, employees, sup- pliers, competitors, government, and others.

organizational mission

is an unincorporated retail firm owned by one person.

sole proprietorship

is an unincorporated retail firm owned by two or more persons, each with a financial interest

partnerships

is a retail firm that is formally incorporated under state law.

corporation

Goods establishment (2)

durable goods stores nondurable goods stores

Service establishment (4)

Personal services Amusement services Repair services Hotel services

depend on an individual’s aptitude—the preference for a type of business and the potential to do well; education—formal learning about retail practices and policies; and experience—practical learning about retail practices and policies.

personal abilities

Many retail enterprises, especially new, independent ones, fail because the owners do not adequately project the _____ needed to open and operate the firm

financial resources

on retail owners (or managers) differ significantly by goods or service category. They are influenced both by consumer shopping patterns and by the ability of the owner or manager to automate operations or delegate activities to others.

time demands

the long-run and short-run performance targets it hopes to attain. This helps in strategy and translates the organizational mission into action.

objectives

are related to the volume of goods and services a retailer sells. Growth, stability, and market share are the sales goals most often sought.

sales objectives

is a goal for any publicly owned retailer. Some firms set policies leading to small annual increases in sales and profits (because these goals can be sustained over the long run and indicate good management) rather than ones based on innovative ideas that may lead to peaks and valleys in sales and profits (indicating risky decisions).

stockholder satisfaction

with the total retail experience is a well-entrenched goal at most firms now

customer Satisfaction

is also a key goal. Retailers must understand and work with their suppliers to secure favorable purchase terms, new products, good return policies, prompt shipments, and cooperation

good supplier relations

is another goal that is often critical to retailers’ performance. Good employee morale means less absenteeism, better treatment of customers, and lower staffing turn-over. Relations can be improved by effective selection, training, and motivation

cordial labor relations

represents how a given retailer is perceived by consumers and others

image

Through _____, a retailer devises its strategy in a way that projects an image relative to its retail category and its competitors and that elicits a positive consumer response.

positioning

Two opposite positioning philosophies have gained popularity in recent years:

mass merchandising niche retailing

is a positioning approach whereby retailers offer a discount or value-oriented image, a wide and/or deep merchandise selection, and large store facilities

mass merchandising

retailers identify specific customer segments and deploy unique strategies to address the desires of those segments rather than the mass market.

niche retailing

Because both mass merchandising and niche retailing are now popular, some observers call this the era of ____

bifurcated retailing

The customer group sought by a retailer is called the ___

target market

In selecting its target market, a firm may use one of three techniques:

mass marketing concentrated marketing differentiated marketing

selling goods and services to a broad spectrum of consumers

mass marketing

zeroing in on one specific group;

concentrated marketing

aiming at two or more distinct consumer groups, with different retailing approaches for each group.

differentiated marketing

2 retail strategy

controllable variables uncontrollable variables

Controllable variables

• Store location • Managing a business • Merchandise management and pricing • Communicating with the customer

uncontrollable variables

• Consumers • Competition • Technology • Economic conditions • Seasonality • Legal restrictions

Chap 1

Jake Matthew · 10問 · 1年前

Chap 1