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Retail Management

Notes draperies on the other. You can buy groceries and grab a new lawnmower (while waiting
for an oil change). Their recent cooperation with SunTrust bank has allowed their presence
in Southeast Walmart’s. Their marketing has always relied on variety– how many single
things can you do in one location.
Wal-Mart has garnered its fair share of controversy. Yet, the convenience is truly unrivalled.
With such a wide breadth of options for a consumer, it seems almost silly to shop at
another location where these options are severely limited. Wal-Mart’s online marketing
is simply an extension of their physical stories, allowing individuals to purchase directly
through the site.
Question:
Comment on the marketing strategy of the world biggest retailer.

Source: www.strategicminds.eu

5.6 Summary

 Retailing is the latest buzzword among the business. It is evolving into a global, high-tech
business and occupies a pre-eminent position in the economics of all modern societies.

 The Indian retailing Industry is becoming intensely competitive, as more and more players
are vying for the same set of customers.

 Strategy planning or formulation of strategy consists of a set of decisions that leads to the
development of an effective strategy. We check all the activities related to the internal and
external factor those affect directly or indirectly to the organization.

 Companies need to categorise segments according to their present and future attractiveness
and their company’s strengths and capabilities relative to different segments’ needs and
competitive situation.
 Porter suggests that there are five basic competitive forces, which influence the state of
competition in an industry.

 Strategic retail planning process divided into the following steps: Deciding the store’s
mission and objectives, Situation analysis, Formulation of retail strategy, and
Implementation and control of strategy.
 International retailing is an essential ingredient for the global economy. International
retailing satisfies the increasingly complex and demanding needs of global consumers.

 Retailing is predominantly a domestic market activity. The total business of the vast
majority of retailers is done within one particular country and in many cases, within one
specific region or district.
 A company’s value chain is not bounded by a company’s border. It is connected to what
Porter describes as a value system.

5.7 Keywords

Activities: They are the means by which a firm creates value in its products.
Intangible resources: Factors such as open space, beauty, serenity, wisdom, diversity, and
satisfaction that cannot be grasped or contained.

International retailing: Worldwide tendency towards concentration in retailing, create huge
buying power in the big international retail chains.

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