Chapter 3 Strategic Planning in Retailing RETAIL MANAGEMENT
![Chapter 3 Strategic Planning in Retailing RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10 th Edition Chapter 3 Strategic Planning in Retailing RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10 th Edition](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-1.jpg)
![Chapter Objectives þ To show the value of strategic planning for all types of Chapter Objectives þ To show the value of strategic planning for all types of](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-2.jpg)
![Chapter Objectives (cont. ) þ To examine the individual controllable and uncontrollable elements of Chapter Objectives (cont. ) þ To examine the individual controllable and uncontrollable elements of](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-3.jpg)
![Retail Strategy ¯ The overall plan or framework of action that guides a retailer Retail Strategy ¯ The overall plan or framework of action that guides a retailer](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-4.jpg)
![Figure 3 -1: Elements of a Retail Strategy 3 -5 Figure 3 -1: Elements of a Retail Strategy 3 -5](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-5.jpg)
![Benefits of Strategic Retail Planning ¯ Provides thorough analysis of the requirements for doing Benefits of Strategic Retail Planning ¯ Provides thorough analysis of the requirements for doing](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-6.jpg)
![Situation Analysis Organizational Mission Retailer’s commitment to a type of business and to a Situation Analysis Organizational Mission Retailer’s commitment to a type of business and to a](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-7.jpg)
![Figure 3 -2: The Focused Organizational Mission of Frisch’s Restaurants 3 -8 Figure 3 -2: The Focused Organizational Mission of Frisch’s Restaurants 3 -8](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-8.jpg)
![Situation Analysis Ownership and Management Alternatives ¯ A sole proprietorship is an unincorporated retail Situation Analysis Ownership and Management Alternatives ¯ A sole proprietorship is an unincorporated retail](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-9.jpg)
![Situation Analysis Selected Kinds of Retail Goods and Service Establishments Durable Goods Stores: Automotive Situation Analysis Selected Kinds of Retail Goods and Service Establishments Durable Goods Stores: Automotive](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-10.jpg)
![Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Personal): Laundry and dry Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Personal): Laundry and dry](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-11.jpg)
![Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Repair): Automobile repair Car Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Repair): Automobile repair Car](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-12.jpg)
![Objectives • Sales: Volume of goods and services a retailer sells • Profits: minimum Objectives • Sales: Volume of goods and services a retailer sells • Profits: minimum](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-13.jpg)
![Objectives Image and Positioning An image represents how a given retailer is perceived by Objectives Image and Positioning An image represents how a given retailer is perceived by](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-14.jpg)
![Objectives Positioning Approaches ¯ Mass merchandising is a positioning approach whereby retailers offer a Objectives Positioning Approaches ¯ Mass merchandising is a positioning approach whereby retailers offer a](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-15.jpg)
![Figure 3 -6: Niche Retailing by Hear Music 3 -16 Figure 3 -6: Niche Retailing by Hear Music 3 -16](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-16.jpg)
![Objectives Selected Retail Positioning Strategies 3 -17 Objectives Selected Retail Positioning Strategies 3 -17](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-17.jpg)
![Identification of consumers Target Market Selection • Three techniques ¯Mass marketing: Selling goods and Identification of consumers Target Market Selection • Three techniques ¯Mass marketing: Selling goods and](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-18.jpg)
![Identification of consumers Strategic Implications of Target Market Techniques ¯ Retailer’s location ¯ Goods Identification of consumers Strategic Implications of Target Market Techniques ¯ Retailer’s location ¯ Goods](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-19.jpg)
![Developing an Overall Retail Strategy Controllable Variables: • Store location • Managing business • Developing an Overall Retail Strategy Controllable Variables: • Store location • Managing business •](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-20.jpg)
![Table 3 -4 c: Legal Environment and Retailing Ø Communicating with the Customer ¯truth-in-advertising Table 3 -4 c: Legal Environment and Retailing Ø Communicating with the Customer ¯truth-in-advertising](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-21.jpg)
- Slides: 21
![Chapter 3 Strategic Planning in Retailing RETAIL MANAGEMENT A STRATEGIC APPROACH 10 th Edition Chapter 3 Strategic Planning in Retailing RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10 th Edition](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-1.jpg)
Chapter 3 Strategic Planning in Retailing RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10 th Edition BERMAN EVANS
![Chapter Objectives þ To show the value of strategic planning for all types of Chapter Objectives þ To show the value of strategic planning for all types of](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-2.jpg)
Chapter Objectives þ To show the value of strategic planning for all types of retailers þ To explain the steps in strategic planning for retailers: situation analysis, objectives, identification of consumers, overall strategy, specific activities, control, and feedback 3 -2
![Chapter Objectives cont þ To examine the individual controllable and uncontrollable elements of Chapter Objectives (cont. ) þ To examine the individual controllable and uncontrollable elements of](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-3.jpg)
Chapter Objectives (cont. ) þ To examine the individual controllable and uncontrollable elements of a retail strategy, and to present strategic planning as a series of integrated steps þ To demonstrate how a strategic plan can be prepared 3 -3
![Retail Strategy The overall plan or framework of action that guides a retailer Retail Strategy ¯ The overall plan or framework of action that guides a retailer](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-4.jpg)
Retail Strategy ¯ The overall plan or framework of action that guides a retailer ¯One year in duration ¯Outlines mission, goals, consumer market, overall and specific activities, and control mechanisms 3 -4
![Figure 3 1 Elements of a Retail Strategy 3 5 Figure 3 -1: Elements of a Retail Strategy 3 -5](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-5.jpg)
Figure 3 -1: Elements of a Retail Strategy 3 -5
![Benefits of Strategic Retail Planning Provides thorough analysis of the requirements for doing Benefits of Strategic Retail Planning ¯ Provides thorough analysis of the requirements for doing](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-6.jpg)
Benefits of Strategic Retail Planning ¯ Provides thorough analysis of the requirements for doing business for different types of retailers ¯ Outlines retailer goals ¯ Allows retailer to determine how to differentiate itself from competitors ¯ Allows retailer to develop an offering that appeals to a group of customers ¯ Offers an analysis of the legal, economic, and competitive environment ¯ Provides for the coordination of the firm’s total efforts ¯ Encourages anticipation and avoidance of crises 3 -6
![Situation Analysis Organizational Mission Retailers commitment to a type of business and to a Situation Analysis Organizational Mission Retailer’s commitment to a type of business and to a](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-7.jpg)
Situation Analysis Organizational Mission Retailer’s commitment to a type of business and to a distinctive role in the marketplace Who we are and what we do? 3 -7
![Figure 3 2 The Focused Organizational Mission of Frischs Restaurants 3 8 Figure 3 -2: The Focused Organizational Mission of Frisch’s Restaurants 3 -8](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-8.jpg)
Figure 3 -2: The Focused Organizational Mission of Frisch’s Restaurants 3 -8
![Situation Analysis Ownership and Management Alternatives A sole proprietorship is an unincorporated retail Situation Analysis Ownership and Management Alternatives ¯ A sole proprietorship is an unincorporated retail](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-9.jpg)
Situation Analysis Ownership and Management Alternatives ¯ A sole proprietorship is an unincorporated retail firm owned by one person ¯ A partnership is an unincorporated retail firm owned by two or more persons, each with a financial interest ¯ A corporation is a retail firm that is formally incorporated under state law; it is a legal entity apart from its officers 3 -9
![Situation Analysis Selected Kinds of Retail Goods and Service Establishments Durable Goods Stores Automotive Situation Analysis Selected Kinds of Retail Goods and Service Establishments Durable Goods Stores: Automotive](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-10.jpg)
Situation Analysis Selected Kinds of Retail Goods and Service Establishments Durable Goods Stores: Automotive group Furniture and appliances group Lumber, building, and hardware group Jewelry stores Nondurable Goods Stores: Apparel group Food group General merchandise group Gasoline service stations 3 -10
![Situation Analysis Selected Kinds of Retail Goods and Service Establishments Personal Laundry and dry Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Personal): Laundry and dry](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-11.jpg)
Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Personal): Laundry and dry cleaning Beauty/barber shops Funeral services Health-care services Service Establishments (Amusement): Movie theaters Bowling alleys Dance halls Golf courses 3 -11
![Situation Analysis Selected Kinds of Retail Goods and Service Establishments Repair Automobile repair Car Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Repair): Automobile repair Car](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-12.jpg)
Situation Analysis Selected Kinds of Retail Goods and Service Establishments (Repair): Automobile repair Car washes Consumer electronics repair Appliance repairs Service Establishments (Hotel): Hotels Motels Trailer parks Camps 3 -12
![Objectives Sales Volume of goods and services a retailer sells Profits minimum Objectives • Sales: Volume of goods and services a retailer sells • Profits: minimum](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-13.jpg)
Objectives • Sales: Volume of goods and services a retailer sells • Profits: minimum profits retailer seeks in the first year • Satisfaction of Publics: Stakeholders customers, employees, suppliers and government 3 -13
![Objectives Image and Positioning An image represents how a given retailer is perceived by Objectives Image and Positioning An image represents how a given retailer is perceived by](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-14.jpg)
Objectives Image and Positioning An image represents how a given retailer is perceived by consumers and others 3 -14
![Objectives Positioning Approaches Mass merchandising is a positioning approach whereby retailers offer a Objectives Positioning Approaches ¯ Mass merchandising is a positioning approach whereby retailers offer a](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-15.jpg)
Objectives Positioning Approaches ¯ Mass merchandising is a positioning approach whereby retailers offer a discount or valueoriented image, a wide or deep merchandise selection, and large store facilities (Low cost) ¯ Niche retailing occurs when retailers identify specific customer segments and deploy unique strategies to address the desires of those segments rather than the mass market (Music Store) 3 -15
![Figure 3 6 Niche Retailing by Hear Music 3 16 Figure 3 -6: Niche Retailing by Hear Music 3 -16](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-16.jpg)
Figure 3 -6: Niche Retailing by Hear Music 3 -16
![Objectives Selected Retail Positioning Strategies 3 17 Objectives Selected Retail Positioning Strategies 3 -17](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-17.jpg)
Objectives Selected Retail Positioning Strategies 3 -17
![Identification of consumers Target Market Selection Three techniques Mass marketing Selling goods and Identification of consumers Target Market Selection • Three techniques ¯Mass marketing: Selling goods and](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-18.jpg)
Identification of consumers Target Market Selection • Three techniques ¯Mass marketing: Selling goods and services to abroad spectrum of customers ¯Concentrated marketing: Selling to a specific customers ¯Differentiated marketing: Selling to tow or more distinct customers 3 -18
![Identification of consumers Strategic Implications of Target Market Techniques Retailers location Goods Identification of consumers Strategic Implications of Target Market Techniques ¯ Retailer’s location ¯ Goods](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-19.jpg)
Identification of consumers Strategic Implications of Target Market Techniques ¯ Retailer’s location ¯ Goods and service mix ¯ Promotion efforts ¯ Price orientation ¯ Strategy 3 -19
![Developing an Overall Retail Strategy Controllable Variables Store location Managing business Developing an Overall Retail Strategy Controllable Variables: • Store location • Managing business •](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-20.jpg)
Developing an Overall Retail Strategy Controllable Variables: • Store location • Managing business • Merchandise management and pricing • Communicating with customer 3 -20 Retail Strategy Uncontrollable Variables: • Consumers • Competition • Technology • Economic conditions • Seasonality • Legal restrictions
![Table 3 4 c Legal Environment and Retailing Ø Communicating with the Customer truthinadvertising Table 3 -4 c: Legal Environment and Retailing Ø Communicating with the Customer ¯truth-in-advertising](https://slidetodoc.com/presentation_image_h/f635e1792a8ff2a7170c1e99109d7383/image-21.jpg)
Table 3 -4 c: Legal Environment and Retailing Ø Communicating with the Customer ¯truth-in-advertising and selling laws ¯truth-in-credit laws ¯telemarketing laws ¯bait-and-switch laws ¯inventory laws ¯labeling laws 3 -21
Strategic planning in retailing
Global retailing strategies
Retail strategic planning
Characteristics of service retailing
Strategic retail planning process
Communication mix in retail
Hrm in retailing
Financial strategy in retailing
Strategic planning vs tactical planning
Strategic competitiveness
Tows matrix
Performance management and strategic planning
Corporate strategy
Strategic profit model in retail
Chapter 2 strategic planning for competitive advantage
Effective frequent-shopper programs are transparent.
Retail marketing ppt
Information system and supply chain management in retailing
Store planning ppt
Introduction to retailing ppt
Retailing and wholesaling
Introduction of retailing