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
VI,
Control
V,
Specific
Activities
IV,
Overall
Strategy
III,
Identification
Of Consumers
II,
Objectives
I,
Situation
Analysis
Situation
Analysis
Organizational
Mission
Ownership and Management
Alternatives
Goods/Service
Category
Objectives
Sales
Profit
Satisfaction of Publics
Image
Identification
of
Consumers
Mass Marketing
Concentrated Marketing
Differentiated Marketing
Controllable Variables
Uncontrollable Variables
Overall
Strategy
Specific
Activities
Daily and Short-Term Operations
Responses to Environment
Adjustment
Evaluation
Control
? 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
Retail
Strategy
Controllable Variables
? Store Location
? Managing a Business
? Merchandise Management
and Pricing
? Communicating with the
Customer
Uncontrollable Variables
? Consumers
? Competition
? Technology
? Economic Conditions
? Seasonality
? Legal Restrictions
? Value of Strategic Planning
? Steps in Strategic Planning
? Controllable and Uncontrollable
Elements of Retail Strategy
Questions?