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Transcript
Chapter 3 • Show Value of Strategic Planning • Explain Steps in Strategic Planning • Examine Controllable and Uncontrollable Elements of Retail Strategy • Present Strategic Planning as a Series of Integrated Steps • Overall Plan or Framework of Action • At Least One Year • Outlines – Mission – Goals – Consumer Market – Overall and Specific Activities – Control Mechanisms • Provides Analysis of Retail Requirements • Outlines Retailer Goals • Teaches Firms How to Differentiate Themselves • Studies Environment • Coordinates Efforts • Anticipates Crises I. Situation Analysis II. Objectives III. Identification Of Consumers IV. Overall Strategy V. Specific Activities VI. Control Organizational Mission Situation Analysis Ownership and Management Alternatives Goods/Service Category Sales Profit Objectives Satisfaction of Publics Image Mass Marketing Identification of Consumers Concentrated Marketing Differentiated Marketing Controllable Variables Overall Strategy Uncontrollable Variables Daily and Short-Term Operations Specific Activities Responses to Environment Evaluation Control Adjustment • • • • • Type of Business Role in Marketplace Business VS Consumer Market Leader or Follower Market Scope • • • • • Sole Proprietorship Partnership Corporation Independent Ownership Franchise • Goods – Durable – Nondurable • Service – Personal – Amusement – Repair – Hotel • Personal Abilities • Financial Resources • Time Demands • Measurable • Specific • Attainable • Growth • Stability • Market Share • ROI • Increased Operating Efficiency • Stockholder • Consumer • Mass Merchandising • Niche Retailing • Bifurcated Retailing • Mass Marketing • Concentrated Marketing • Differentiated Marketing Controllable Variables Uncontrollable Variables • Store Location • Managing a Business • Merchandise Management and Pricing • Communicating with the Customer • • • • • • Retail Strategy Consumers Competition Technology Economic Conditions Seasonality Legal Restrictions • Value of Strategic Planning • Steps in Strategic Planning • Controllable and Uncontrollable Elements of Retail Strategy Questions?
