We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Strategic Retail Management in Competitive Environment - Essay Example

Comments (0) Cite this document
Summary
Strategic Retail Management in Competitive Environment Table of Contents Table of Contents 2 1.Introduction 3 1.Competitive Environment of UK Retail Industry 3 Porter’s Five Forces Analysis of UK Luxury Retail Sector 4 PEST Analysis 5 2.Strategic Retail Management (Theoretical View) 7 3.House of Fraser 10 Overview of the Company: House of Fraser             10 Retail Strategy and Management of House of Fraser 10 Controllable Factors Affecting Retail Strategy 12 SWOT Analysis of House of Fraser 12 4.Harrods 14 Overview of the Company: Harrods 14 Retail Strategy and Management of Harrods 15 Controllable Factors Affecting Retail Stra…
Download full paperFile format: .doc, available for editing
Polish This Essay91.7% of users find it useful
Strategic Retail Management in Competitive Environment
Read TextPreview

Extract of sample
"Strategic Retail Management in Competitive Environment"

Download file to see previous pages Perception of many people from brand name has moved towards product quality cost and service delivered (Experian, 2011). This has motivated several new retailers to enter into the already competitive market. This has raised survival issues for many new and old retailers, and demands for new strategies and activities to sustain their position in the market (Experian, 2011). The culture of buying has shifted largely towards online viewing and ordering. People visiting the store are easy to urge towards company’s product, and they are the ones who gives the company greater revenue than the online buyers (Experian, 2011). However, this ratio has also taken a 180 degree change in many of the top retail stores, including the ones discuss in this paper, where online buyers makes around 80% of the total income of the company (Experian, 2011). 1. Competitive Environment of UK Retail Industry The retail sector of UK is the only largest private recruiter because it employs around three million people. This sector covers a prominent percentage of employment in UK because more than half of the UK population work part time in retail stores. The retail industry of UK is immensely supportive for the economy of the region as it generates abundance of revenue to sustain the economical position of UK. Therefore, the in order to evaluate the environment of this sector Porter’s five forces analysis and PEST analysis of the industry are being done (Obitz, 2009). Porter’s Five Forces Analysis of UK Luxury Retail Sector The analysis of the retail industry of UK is significant for accomplishing the purpose of the paper. Therefore, when it comes to analyze the competitive environment of any industry, Porter’s Five Forces Model appears covering all the areas required for evaluating a competitive environment. i. Threats of Substitute The threat for substitute products in the luxury retail market of UK is quite low as non-food items sold by luxury retailers do not have major substitutes. This is due to the fact that buyers purchase luxury items as a result of their perceived luxury associated with their purchases and therefore they do not substitute these products. The threat of substitute is not apparent and the actual threat is only limited to the pricing offered by different retailers for similar products (Nwankwo & Gbadamosi, 2011). ii. Threats of New Entrants In the luxury retail side of the market, there are lower threats of the new entrants in the industry. This is due to the high level of barriers for developing brand and then high level of investment is required for developing brand recognition and its positioning in the luxury brand market. It is difficult for new market entrants to offer product differentiation in the cloth retailing and also change buyers’ attitude which keeps them loyal to already existing luxury brands. Moreover, it has been noted in the luxury retail market that existing brands place barriers for the new entrants by increasing their marketing activities and also undertaking other initiatives that could ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Retail Management in Competitive Environment Essay”, n.d.)
Strategic Retail Management in Competitive Environment Essay. Retrieved from https://studentshare.org/business/1403693-retailing
(Strategic Retail Management in Competitive Environment Essay)
Strategic Retail Management in Competitive Environment Essay. https://studentshare.org/business/1403693-retailing.
“Strategic Retail Management in Competitive Environment Essay”, n.d. https://studentshare.org/business/1403693-retailing.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
The retail environment of clothing apparel organization Abercrombie & Fitch in terms of pervading retail theory
In reality retail environments integrate a complex array of inputs, including environmental psychology, servicescapes, visual merchandising, and advanced layout procedures, as a means of gaining greatest sales and product efficiency. Such an understanding adds a significant degree of complexity to one’s generally carefree shopping mall experience, as competing forms of retail psychology compete for the hearts, minds, and pocketbooks of shoppers.
11 Pages(2750 words)Essay
Retail Business and Consumer Environment
Retail executives are routinely grappled with several critical decisions like where to locate their stores, which products to stock, what to be done with supply chains, how to open up new sales channels, and how to build customer loyalty avenues. “Retail executives need to be idea people as well as analysts.
11 Pages(2750 words)Essay
Business strategy
The retailers businesses have grown from local to international scenes, from hyper stores to small shops. Challenges A spiral of challenges affects the Retail Businesses. As per the national statistics, they range from political, social, economical, cultural, and technological factors.
8 Pages(2000 words)Essay
Competitive and Strategic Analysis
It is also considered as one of the managerial devices which have the potentiality to develop long and short term planning for the removal of constraints and complexities. It helps in the evolution of long and short term planning process. This is one of the major reasons which are known as destination marketing as it helps in the attainment of the goals and objectives.
10 Pages(2500 words)Essay
Strategic analysis of a company and its competitive environment
The company has over 2000 suppliers from all over the world. The company’s success can be attributed to their quality service, value, quality and innovation which that the company has maintained since it was started 125 years ago (Thompson 15). The company has opened branches in over 41 countries other than in United Kingdom and has well defined rules and regulations with regards to product quality, innovation and customer care.
8 Pages(2000 words)Essay
Strategic analysis of a company and its competitive environment
Thomas Spencer and Michael Marks introduced the business in 1884. Having existence for over one hundred and twenty years, Marks & Spencer is also one of the productive businesses in United Kingdom and in other parts of the world including India. The business headquarter is situated in the city of Westminster in United Kingdom.
8 Pages(2000 words)Essay
Strategic analysis of a company and its competitive environment
and another 361 stores that exist in more than forty dispensations globally (M&S). It has its specialty in the retailing of attire and food products. M&S is a chief retailer whose founders are Spencer Thomas and Marks Michael. This retailer prides in its specialty as a provider of women’s attire and lingerie, and high quality food retailer.
8 Pages(2000 words)Essay
Strategic analysis of a company and its competitive environment
Such divergences in UK food retailing sector have influenced the researcher too take on this study while food retailing vertical of Marks and Spencer has been selected as key area of discussion in this paper. In such context, following sections will conduct internal and external business environment analysis of food retailing vertical of Marks and Spencer while UK will be locus of the analysis.
8 Pages(2000 words)Essay
Retail Marketing Strategy Management
Also it is important to know that hat type of an image would a retail store project for its customers in the target segment harbor and what Retail Market Strategy needs to be applied. Positioning of a retail store is important because usually people are buying brands when they come in a particular retail store.
6 Pages(1500 words)Essay
Strategic Management: Competitive Advantage
So to get a better understanding of the whole issue, we have decided to understand it by splitting it into five key areas. The first area deals with issue of Guajilote as prospective business center in the country. It asks our impression about the whole thing as business center.
7 Pages(1750 words)Case Study
Let us find you another Essay on topic Strategic Retail Management in Competitive Environment for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us