Retail Strategy

Question 1

What are the functions of a retailer?

Answer 1

• Providing Assortments
• Breaking Bulk
• Holding Inventory
• Providing Services
• Increasing the Value of Goods and Services

Question 2

What are some of the top retailers globally (2010)? Top in canada (2012)?

Answer 2

Globally:
- walmart
- carrefour (rfance)
- tesco (uk)

Canada
- loblaw
- costco
- shoppers

Question 3

What are the 4Ps?

Answer 3

product
price
prmotion
place

Question 4

What are the 4 Cs?

Answer 4

consumers
competitiors
company
community

Question 5

What are the 4 fits? What do they each mean?

Answer 5

program-market
program-positioning
program-company
social responsiveness

Question 6

What is a retail strategy? (3 main parts)

Answer 6

• Target market
• Retail format
• Sustainable competitive advantage

Question 7

What is a retail format>

Answer 7

the retailer’s mix (nature of merchandise and service offered, pricing policy, advertising and promotion program, approach to store design and visual merchandising, and typical location).

Question 8

What is the plot for retail price and service strategy? Some examples for the sections?

Answer 8

High/low service + high/low price
High service, high price = holt renfrew
high service, low price = not profitable or feasible usually
low sercice, low price = walmart, costco
low service, high price = no one interested

Question 9

What are the important aspects of a positioning statement>

Answer 9

• Target Segment
• Positioning Dimensions and Competitor Locations
• Value Offer
  — Customer Appeal
  — Competitive Distinctiveness
  — Tag Line
• Distinctive Competencies