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Retail Strategy - Strategic Retail Planning Process in 7 Steps

Retail Strategy
Target Market
Needs/Wants
Satisfaction
Retail Format (Marketing Mix)
Product
Price
Promotion
Place
People
Processes
Physical Design
Basis for sustainable
competitive advantage
(Unique Selling Proposition)
Micro-Environment
Macro-Environment
Strong Relationships
Target Market
Needs & Wants
Satisfaction
SWOT
Analysis
Customers
Suppliers
Loyalty
Brand
Clear, Distinctive
Positioning
Convenient Locations
Loyalty Programs
Customer Service
Motivation
Training
Efficient Operations
Consistent Quality
Consistent Satisfaction
Guarantees
Trust
Unique Merchandise
Private-Label
(Store) Brands
Culture
CRM
Data Warehouse
Types of Merchandise
& Services Desired
Targeted Ads
More Focused
Merch Mix
Supply-Chain
Efficiency
Sales rights for
a specific region
Special
purchasing terms
Receiving exclusive or popular
merch in short supply.
Economies of scale
HR Management
Data / Information
Retail Analytics (RA)
helps identify...
Cost Leadership
Employees Contribute
To Customer Loyalty
Long-Term Employees
Are More Efficient
Incentives
Culture
Managing
Diversity
Retention
Sharing sales data
with suppliers
Smart contracts
Blockchain
Customer purchases
better merchandise
assortments
tailored promotions
number & value of
average orders
most popular products
most effective staff
most valuable customers
busiest hours
Location
Important for convenience products
(e.g., fast food) to have lots of locations.
1 / 2
215 1 1
author Tom Walker
For my class.

Two mind maps on seperate pages.

Page 1: The first mind map is about retail strategy.

Page 2: The second mind map is about strategic retail planning process (7 steps).
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