CHP 5:- Retail Institutions by Store-Based Strategy Mix - Coggle Diagram
CHP 5:- Retail Institutions by Store-Based Strategy Mix
List of Strategy Mix :-
Wheel of Retailing:-
1) Low-end strategy
Limited facilities and services
2) Medium strategy
Broader base of value-and services conscious consumer
3) High-end strategy
Excellent facilities and services
Retail / Product Life Cycle:-
Evolution of Retail:-
Diversification:- Retailers become active in businesses outside their normal operation.
Downsizing:- Unprofittable stores are closed or divisions are sold off.
Mergers:- Combination of separately owned firms.
Store-based Retail Strategy Mixes:-
Standardizing procedures, store layouts, store size, and product offerings.
Placing stores in smaller communities.
Using inexpensive construction materials.
Joining cooperative buying and advertising.
Creatively financing inventories.