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Components of Retail Market Strategy (Strategic Retail Planning Process…
Components of Retail Market Strategy
Retail Market Strategy
Target marlket
Retail Format used to serve target market
Bases used to build sustainable competitive advantage
Building a Sustainable Competitive Advantage
Building strong customer relationship
Building strong supplier relationship
Achieving effecient internal operations
Growth Strategies
Market penetration
Market expansion
Retail format development
Diversification
Strategic Retail Planning Process
Define Business Mission
Conduct a situation audit
Identify strategic opportunities
Evaluate strategic oppportunities
Establish specific objectives & allocate resources
Retail mix to implement strategy
Evaluate performance & make adjustments