Page 77 - DMGT550_RETAIL_MANAGEMENT

Retail Management Pavitar Parkash Singh, Lovely Professional University

Notes Unit 5: Retailing Strategy

CONTENTS
Objectives
Introduction

5.1 Concept of Business World
5.2 Retail Market Strategy
5.2.1 Levels of Strategy for Retail Organisations

5.2.2 Strategic Retail Planning Process
5.2.3 Alternate Retail Strategies
5.3 Target Market and Retail Formats
5.4 International Retailing
5.5 The Retail Value Chain

5.6 Summary
5.7 Keywords
5.8 Review Questions

5.9 Further Readings
Objectives

After studying this unit, you will be able to:
 Explain the concept of business world
 Discuss the retailing strategies

 Assess the international expansion efforts of the retailers
 Explain the concept of retail value chain

Introduction

‘Strategy’ means several things to several people at different points of time. It is fashionable
nowadays to use the word ‘strategy’. Hence, people talk about defense strategies, business
strategies, strategies for games (be it cricket or chess), National Strategies, Global Strategies and
many more strategies.
The retailing strategy outlines the mission and vision of a retail organization. It is a systematic
plan that provides the retailers the overall framework for dealing with competitors as well as
technological and global movements. In the past traditional retailers mainly reacted to changes
in the business environment, but with increasing business complexities, this is no longer valid.
The reason of this, competition in all the disciplines of retailing is increasing and changes in the
consumer’s tastes, need, wants, technological environment and other external environmental
variables are taking place very fast. Long term strategies and continuous examination of strengths,

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