Page 96 - DMGT550_RETAIL_MANAGEMENT

Unit 5: Retailing Strategy

Retail mix: It is the blend of various retail activities that in totally present the whole concept of Notes
retailing.
Situational analysis: The process of seeking targeted information in a specified area, then
providing feedback to the prospect or customer regarding critical information that you learned
from them.

Store’s objectives: Ends that the store seeks to achieve by its USP and operations.
Strategy: Plan of action or policy designed to achieve a major or overall aim.
Value chain: It comprises all the activities an organisation needs to undertake in order to create
or add value to its products or services.

5.8 Review Questions

1. “Retailing today is at an interesting cross road.” Elaborate.
2. “The Indian retail market is quite large but highly fragmented.” Do you agree? Justify
your answer.
3. Explain the levels at which a retail organisation’s strategy is developed.
4. Discuss the retail strategy planning process in detail.

5. Describe the growth strategy used by the retailers to expand.
6. “International retailing is an essential ingredient for the global economy.” Substantiate.
7. Retailing is predominantly a domestic market activity. Do you agree with the statement?
Why or why not?
8. State the purpose and concept of Porter’s value chain.
9. Explain Porter’s value chain in detail.
10. “A company’s value chain is not bounded by a company’s border.” What do you mean by
the statement?
11. Discuss about the target market and retail formats in retailing.

Answers: Self Assessment

1. False 2. True
3. Strategy 4. Business unit/retail format

5. Tactical 6. Mission
7. Capabilities and weakness 8. Retail mix
9. Positioning 10. False
11. True 12. True

13. Activities 14. Inbound logistics
15. Procurement 16. Value system

LOVELY PROFESSIONAL UNIVERSITY 91