Select a retailer. Remember a retailer sells to the “ultimate consumer.” You need to choose a retailer with a physical store presence who sells a physical product
the retail store I chose was Apple.
the link for the textbook website is
https://studylib.net/doc/25876772/retail-management
Provide additional information on:
Executive Summary (why the reader is reading the document and highlighting your key findings.
History of the Company (use the Internet to research this):
o How long have they been in business?
o How has their business changed over the years?
o What is their mission statement?
o Do they plan to expand, penetrate, diversify or change their retail format in the near future?
Target Market:
o Demographic characteristics of their target customer (age, gender, income level, education etc.)
o Psychographic characteristics of their target customer
Merchandise Assortment: You may have to visit the store to find information about these.
o What are the major brands they carry?
o Do they have private label brands?
o Where does this retailer’s merchandise fit on the category life cycle? (Chapter. 12)
o Does this retailer carry convenience goods, shopping goods or specialty goods? (Chapter. 7)
Store Location:
o Where is this retail store located? (CBD, Shopping Center, Specialty Center, MXD)
o Why do you think they chose this location?
o Is this site accessible for the customer?
Omni-Channel Strategy:
o Describe the retailer’s presence in other channels (website, catalog etc).
o Is the retailer able to present a similar image across all its channels? How do you prove this statement?
Pricing:
o What is this stores pricing policy? (Everyday Low Pricing, High/Low Pricing etc.)
o What other practices do they use to compete with price? (Coupons, Rebates, Price Bundling)
o Is there a frequent shopper program?
Communication Mix:
o What type of paid advertisements does this business use?
o What type of unpaid communication does this business use? (Publicity)
o Does this retailer use cooperative advertising? With whom?
o What type of sales promotions does this retailer use? (Sales, Sampling, Demos, Contests etc.)
Store Layout: (Visit store if possible or provided answers based on previous visit)
o What type of design layout does this store use? (Grid, Racetrack, Free Form etc.)
o Is it effective for customer flow?
o What type of fixtures do they use?
o What type of lighting are they using?
o Is music constantly playing? What type?
o What type of scent is in the store? Does it detract or attract?
Customer Service: (Visit store or website)
o What type of services does this store offer? (Alterations, gift wrapping etc.)
o Talk to 3 customers (it could be your family or friends who have visited this store in the past) – What is their perception of this stores customer service? How does this store handle customer complaints?
o What is their return policy?
Competitive Advantage: (This section should be 2-3 paragraphs minimum — think critically about it!)
o Does this retailer have a sustainable competitive advantage over similar stores?
Refer to the Retail Strategy chapter to outline their SCA
o How can they retain this advantage or achieve an advantage over their competition?
Recommendations for the retailer
o Based on your research, what does the future hold for this company?
o Provide your own examples of the four different growth strategies (Refer to Retail Strategy chapter) available for this retailer?
o What operational and/or strategic recommendations will you provide them to remain successful in the future
