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
GRAB THE BEST PAPER93% 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 OF Strategic Retail Management in Competitive Environment

Strategic Management and Competitive Advantage

...Strategic Management and Competitive Advantage Business analysts recognize marketing capabilities as a necessity in business financial success. In business, success does not come from the blues; it involves a series of processes in which each sector of management body discharges its function well. Many successful businesses boost their success by citing the work of their chief executives or other personalities who make enormous contributions towards success. Marketing efficiency of a company depends on company’s knowledge of the consumers. Scandinavian Airlines System is corporation that survived the odds in business by facing challenges and beating them. In the business...
7 Pages(1750 words)Case Study

Business Environment and Strategic Management

...? Honda: Business Environment and Strategic Management April 13, Contents Introduction 3 Analysis of the current business environment affecting the industry 4 Analysis of the company’s strategic capabilities 5 Value chain Analysis 5 Dynamic Capabilities View (DCV) 8 Challenges and weaknesses 9 Main opportunities and strengths 9 Evaluation of possible future strategies for the company 10 Conclusion 11 References 12 Appendix 1: PESTLE Analysis 15 Appendix 2: SWOT Analysis 18 Appendice 3 Five force analysis 20 Introduction Honda is mostly known for its affordable and environmentally friendly vehicles; in addition, it is also one of the leading manufacturers...
12 Pages(3000 words)Essay

Business Environment & Strategic Management

...? Business Environment & Strategic Management Table of Contents Part A- Internal Analysis: Analysis of the Company’s Strategic Capabilities 3 Part B:Evaluation of Possible Future Strategies for the Company 7 Key Strategic Issues 8 Future Potential Strategies: Organic Development 8 Recommendation 9 References 11 Part A- Internal Analysis: Analysis of the Company’s Strategic Capabilities Honda Motor Company is a multinational Japan based automobile manufacturer headquartered in Tokyo. It is one of the largest automobile manufacturers in global market place. Effective product differentiation and value added services to the global customers are the major reasons behind the success story of Honda. The organization expanded its business... that...
7 Pages(1750 words)Essay

Competitive Environment

...Swarnambika S Academia Research Competitive Environment July 15, 2007 Competitive Environment The competitive environment consists of the number ofcompetitors a company faces, the relative size of competitors, and the degree of interdependence within the industry. The marketing department of a company has little control over the competitive environment confronting it. In this paper, we would be discussing about the competitive environment of Toyota covering economic, marketing and external strategy elements of the environment and the interrelationships...
15 Pages(3750 words)Case Study

Strategic Management: Competitive Advantage

...Strategic Management Guajilote Cooperativo Forestal, Honduras, Business study In this paper we discuss about the business prospects in Guajilote in the country of Honduras by looking at its Cooperativo Forestal. The paper looks at the case study of Guajilote Cooperative. It is a co-operative with a license to collect and sell fallen timber in the Honduras. 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. After looking at the prospective side of the place we then conduct a SWOT...
7 Pages(1750 words)Case Study

Human Resource Management in Competitive Environment

...Running Head: HUMAN RESOURCE MANAGEMENT Human Resource Management in Competitive Environment of the of the Human Resource Management in Competitive Environment Introduction As a field of management practice and a site of commerce school studies, the field of strategic human resource management (SHRM) has developed progressively since the mid-1980s. Business executives, students and academics have been discuss what it might mean to take a 'strategic advance' to human resource management (HRM). The purpose of this paper is to assess...
13 Pages(3250 words)Essay

Competitive Environment

...Aide Memoire for UK Domestic Gas and Electri Markets of the of the Aide Memoire SCP Model =standing of industry sector = structure, conduct and performance of the firms that comprise it at a given point. Structure determinants= Number of Competing Firms; Homogeneity of Products, Cost of Entry and Exit. Conduct= strategies firm implements to gain competitive advantage over rivals. Performance= performance of individual firm + performance of economy (Creative Advantage Website, 2012, 1). Gas industry in Britain = imperfect competition. Market dominated by few large firms and smattering of local and regional entities. Bulk of supply lines/ consumers connected with British Gas or Transco- dominating both...
1 Pages(250 words)Essay

REMOTE ENVIRONMENT (Strategic Management)

...in identifying the characteristics of the employees that are working in an industry (Enz, 2010). It even helps in identifying what the human resources perceive about a company and the ease with which these human resources can be obtained. References Enz, C. (2010). Hospitality strategic management. Hoboken, N.J.: John Wiley & Sons. Hill, C., & Jones, G. (2012). Essentials of strategic management. Australia: South-Western/Cengage Learning. Moehrle, M., Isenmann, R., & Phaal, R. (2013). Technology roadmapping for strategy and innovation. Berlin: Springer. Porter, M. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review....
1 Pages(250 words)Essay

Global Environment/ labor (Strategic Management)

...Global Environment/Labor Global Environment/Labor The problem faced by McDonald’s is an issues related with outsourcing of jobs. Outsourcing has several benefits and one of the main benefits is that it helps an organization in producing goods and services at lower cost as mostly jobs are outsourced to those nations where there is cheap labor (Mehrotra, 2005). The problem with McDonald’s is that the fast food chain failed to carry out its outsourcing operation in an effective manner. When outsourcing any particular job an organization needs to first identify what jobs they should and what jobs they should not outsource. One way of deciding what to outsource and what not to outsource, McDonald’s could have...
1 Pages(250 words)Essay

Competitive Strategic Management: Whole Foods

...and committed to a healthy lifestyle thus are willing to pay premium prices for food and groceries. The industry is experiencing high gross margins of between 30 percent to 50 percent than traditional grocery chains and thus traditional grocery retailers have started increasing their natural food offerings. Accordingly, large discounters like Wal-Mart and Target have ventured in the market thus increasing the competition. Corporate strategies The company aims at attaining growth through organic expansion and acquisition of small and independent natural food stores in order to expand its customer base. The company entered in to UK market by acquiring Seven Fresh and Wild stores and also expanded...
4 Pages(1000 words)Case Study
sponsored ads
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.

Let us find you another Essay on topic Strategic Retail Management in Competitive Environment for FREE!

Contact Us