StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Retail Marketing Strategy Management - Essay Example

Comments (0) Cite this document
Summary
Brand positioning is an important factor in order to market the products and increase sales revenues. Positioning of a retail store is also very important and also it is important to know how to position a retail store in order to gain competitive advantage…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.5% of users find it useful
Retail Marketing Strategy Management
Read TextPreview

Extract of sample "Retail Marketing Strategy Management"

Download file to see previous pages The products are completely associated with the retail stores at which they are available. Through positioning your retail store builds a certain image of your products in the minds of the people which ultimately generates the volume of customers for your retail store.
Retail stores in Singapore are extremely cosmopolitan, complex and sophisticated with nearly every international retailer present there. These retail stores usually depend on high volume of customers for generating their sales. Therefore in order to position the retail store in Singapore in order to gain competitive advantage, there is a need to focus on the market niches and increase sales through regionalization. Strategic allies can also be formed with the international retailers in order to gain competitive advantage.
The type of image that a retail store would project for its customers in the target segment harbor should be such that their products and not just the brand it carries should be positioned. The image of a retail store should be that of a brand that adds value to the purchase of the shoppers.
Brand positioning is highly important for retail stores at Singapore because the competition is increasing and new competitors are arriving in the market with more efficient strategies. Therefore, in order to gain competitive advantage, brand positioning can be done by:
The retail marketplace at Singapore is highly saturated with ...
A brand adding value to the purchase of the shoppers so that they are willing to spend more
A retail store selling products and not just the brand
EXAM QUESTION 2: INTERNATIONAL CONSUMERS' MARKET IN SINGAPORE
Introduction
The retail marketplace at Singapore is highly saturated with a number of international players. The population of Singapore also consists of a number of tourists and foreigners as Singapore is one of the best tourism spot. Therefore the retail market for international consumers in Singapore is full of opportunities.
Since the international consumers have high spending patterns, therefore, targeting this market niche can result in a number of prospective sales.
Discussion and Analysis
Singapore is a tourism spot for a number of international visitors. At every time in the year, you will find a considerable amount of international consumers in the country. Therefore, the market of the international consumers, if properly targeted and positioned, can generate great retail business and attract a high volume of consumers.
The international consumers are usually unaware of the prices and therefore make purchases through the retail stores which they know of and which are mostly international retail stores. The Singaporean retail stores should also target the international consumers due to the increased competition and also because a large population in Singapore comprises of international consumers.
The attractiveness of the market for international consumers is evident from the fact that the retail marketplace in Singapore is highly competitive with each retailer targeting specific market niches. Therefore, the market for international consumers is another market ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Retail Marketing Strategy Management Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1528492-retail-marketing-strategy-management
(Retail Marketing Strategy Management Essay Example | Topics and Well Written Essays - 1500 Words)
https://studentshare.org/miscellaneous/1528492-retail-marketing-strategy-management.
“Retail Marketing Strategy Management Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/miscellaneous/1528492-retail-marketing-strategy-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Retail Marketing Strategy Management

Retail strategy

The five changes include, Infrastructure, innovation, Knowledge and trust relationships between the supplier, retailer, and the customer. To validate the reason for a critical evaluation on Dawson's statement is simply to say that the growing retail industry with a powerful attraction for minor retailers proves to be death trap. This is mainly because of the increased competition and the changing conditions in the economy and consumer behaviour. However, the business of retail proves to be threatening for manufacturers creating brands and trying to sustain brand image and brand loyalty as they squeezed by the so- called retailer. In a book by Lars Thomassen, et., al (2006, pg. 1) 'Retailization' begins by saying
"We have mo...
11 Pages(2750 words)Essay

Retail Marketing (retail development)

This is the process of matching the personal requirements of consumers and the product from the producers. Retailers break the bulk for the consumers. On the other hand, one stop shopping is a concept that allows a collection of products to consumers at one location. The ideology behind this kind of retail development is to ensure convenience for customers since their needs are usually varied. It's also beneficial to the business as it will be able to sell more.
A retailer is an agency, a person, or an institution that is influential or very active in ensuring that merchandise or products are available to the final consumer (Kaufman 2006). Retailers often carry out critical tasks that ensure the products are attractive to the...
13 Pages(3250 words)Essay

Retail marketing strategy

The entrepreneurs behind these ventures risk their capital, invest their time and make a living by offering consumers something they need or want. Most retailing involves buying merchandise or a service from a manufacturer, wholesaler, agent, importer or other retailer and selling it to consumers for their personal use. The price charged for the goods or services covers the retailer's expenses and includes a profit. Each year, this vital sector of the UK economy accounts for about 08 percent of our gross national product--more than $1 billion.. Most are store retailers, though there are other types of enterprises--such as e-commerce, mail order, automatic-merchandising (vending) machines, direct retailing (door-to-door and home pa...
8 Pages(2000 words)Essay

Retail strategy

Further to him, these studies have noted some quite common traits among the existing entrepreneurs with respect to the need for complete achievement, the perceived locus of control and measure, are orientated toward initiative thinking and have a risk taking propensity in them.
According to Beech, W (2001), an entrepreneur is driven by the need to create something new or build something tangible for others to follow. Also, entrepreneurs are described as human beings who are most of the times engaged in the creative destruction of products and services which exist. All in all, since new enterprises have low chances of success rates, an entrepreneur must also have considerable persistence if he/she is to attain the set goals.
6 Pages(1500 words)Essay

RETAIL STRATEGY

In the face of economic growth and radical economic volatility at home, the most attractive retailing options may lie in Asia. Although few domestic retailers are positioned to capitalize on international opportunities, virtually all retailers will be affected by the emergence of the one-world marketplace. As the international borders and barriers come down and the free flow of products goes up, even the smallest mom-and-pop store will be swept up in change.
The main trends in the retail industry include fragmentation, specialization and differentiation. Increasing cultural diversity and ethnic insulation lead to market fragmentation. Certainly a number of established retailers are poised to capitalize on the one common denomi...
10 Pages(2500 words)Essay

Retail Strategy

...Retail Strategy Of Your College Retail Strategy When making a retail strategy, there are certain factors which a strategist needs to take care of. A well made retail strategy would identify the correct product, make sure its sold at the correct place, at the right time and place and all this using a suitable promotional or marketing methods available. If noticed in detailed, I just mentioned of the four Ps of marketing in the previous paragraph, namely, product, price, place and promotion which for the core of any retail strategy (Stinnett, 2005). To start off, the product needs to be have all the right features in it for it to be made sale-able. There is clearly no point designing a product which no one demands of. Therefore...
1 Pages(250 words)Assignment

Marketing Consumer Behavior and Retail Marketing Strategy

...Marketing Consumer Behavior and Retail Marketing Strategy Contents Contents 2 Introduction 4 Retail Dynamics of Duty Free shops in Airport (2002-2012)- 6 Literature Review:- 6 The Strategy of the Duty Free market 7 Classification of Passengers by British Airport Authority (BAA)- 9 Customer Service leading to Customer Satisfaction 10 The Atmosphere in a Transitory Place 11 The behavior of the consumers in Companies’ strategies 12 Model of customer Behavior- 13 Research Methodology 15 Research Approach 16 Secondary Data- collection of relevant figures of duty free market 16 Analysis 17 The Offer 17 The Customer Service 17 The Atmosphere 18 Conclusion 19 References 20 Introduction Consumer Behavior can be defined...
16 Pages(4000 words)Essay

Developing a Strategy to Enhance Workplace Learning in Workplace at Travelex Foreign Exchange

As earlier stated, I have chosen to answer Option No. 1 which is about drafting and crafting a strategic plan which can be implemented in my workplace as a learning workplace on the basis of its analysis and identification made in the earlier assignments. As also required, the initial paragraph, following this, makes a brief review of what has been done in Assignments 1 and 2. Since as a Training Coordinator, my job entails the induction, training and assessment of the progress of the new hires, I have focused my answer to these three areas and divided the paper into Induction and Training, and; Assessment/Evaluation.

The first assignment was about the physical and social environments of the workplace and in that assign...
8 Pages(2000 words)Assignment

Introduction to Change Management

Management often follows a “change management process” to change the existing process or activity.
Change management is a systematic approach for dealing with change that takes place in the organization as well as at the individual level. Such change management comprises of three aspects: adapting change, controlling it and finally affecting it. These three aspects of change management were well explained in three stages of change model given by Lewin (1952) and the three stages are “unfreezing”, “change” & “refreezing” (Orlikowski & Hofman, 1997). Another model for change was introduced by Prosci after conducting a research on more than 1000 companies from 59 countries....
7 Pages(1750 words)Case Study

Risk Management in the Airline Industry

With revenues in excess of ₤9 billion and a fleet of 245 aircraft as of March 2009, Heathrow-based BA’s risk management strategies provide an excellent example.
b) easyJet Plc, a Low-Cost Carrier, flying to more than 100 destinations in Europe, UK, and Northern Africa, and clocking over 50 million seats, with revenues of ₤2.4 billion in 2007-08 [2]. Covering over 380 routes with a fleet of 165 aircraft as of September 2008, Luton-based easyJet’s risk management strategies provide another excellent example with a different set of policies.

The airline industry, internationally, is characterized by its exposure to substantial operational and financial risks. Financial risks result in uncertainly in key pa...
6 Pages(1500 words)Case Study

E-Commerce Marketing Plan for Gap Inc

The business of the bleu is a web-based or ecommerce business that offers the customers the products from the outfit and accessorize from head to toe with five basic brands. Bleu is aimed at offering and meeting the customer’s requirements for a unique lifestyle. Currently, Bleu also established the business regarding the full range of “accessories and furnishings” for a business customer to individualize their home, with a unique style of living and wearing. This report will present detailed analysis of the Bleu ecommerce website marketing plan. This research and analysis report will present a comprehensive overview of the different areas of Bleu online marketing strategy implementation.

Bleu business...
10 Pages(2500 words)Case Study

Comparing Management and Leadership

Once a manager decides on something, his subordinates are required to follow whatever he tells them or else he would have to use the power and authority vested in him to reprimand those who go against his directives. Managers are not their own bosses and as such, they are motivated by the salaries which they are paid for their services. This also makes them subordinates who follow orders from their bosses and who hold them accountable for the progress or failure of the business. Management is a process that focuses on ensuring that there is stability in the organization as well as proper utilization of resources in order to create a harmonious environment for maximizing profits while also minimizing risks, which is the overall sen...
6 Pages(1500 words)Literature review

Nutrition and Lifestyle Management

Vitamins and minerals are micronutrients that are only required in small quantities but are indispensable in maintaining a strong and healthy body. Most individuals should be capable of obtaining all the nutrients they require by consuming a healthy, diverse diet, even though there are a few exemptions. For instance, females thinking about getting pregnant are advised to consume a folic acid supplement to prevent the abnormalities within the child. (What are nutrients? n.d.).

In this study, my case history is presented. I am 41 years of age and trying very hard to lose weight. There are no known diseases in my family that I know of and the only thing that I suffer from is severe constipation. Constipation may be a conti...
11 Pages(2750 words)Case Study

The Trends in the Steel Industry and How It May Impact Nucor Corporations Strategy

The whole organization at Nucor’s revolves around the laid principles and focus on reinforcing to the extent that the organization is known for its culture and quality. Simultaneous quality checks and adherence are also as important building a strong culture for the organizations.

Nucor Corporation has always tried to challenge itself for further progress and to keep abreast of the industry of steel business.

Let us look at the trends observed in the business of the steel industry. The trend in the steel industry is very dynamic and always impacted by internal and extraneous factors. For almost 50 years the United States of America reigned in the industry of steel production, almost half of the entire p...
8 Pages(2000 words)Case Study

Data Mining and Data Fusion in Direct Marketing

Marketing is a broad concept that includes all the activities regarding the target market, segmentation, positioning, product, price, promotion, and distribution. Marketing also includes the activities of selling the final products and providing after-sales services. Today marketing is done in various forms, but conceptually there are only two different forms of marketing, one is direct marketing and another one is indirect marketing. This report is all about direct marketing which is one of the oldest concepts of marketing. Since the present age is the age of information, it is quite expected that each and everything in business would be influenced by ‘information’. Direct marketing is not an exception. It is also inf...
6 Pages(1500 words)Coursework

Logistics System Management

The logistics system is designed in such a manner as the combination of various facilities in the transportation at home, and the operations involved in the warehouse and the distribution channels for the manufacturing are the same. The supply chain is a collection of various complicated systems of logistics where they have a collection of raw materials and goods that are useful for the manufacturing of the final product and to the final distributors. “For example, in make-to-assembly (MTA) systems components and semi-finished products are manufactured in a push-based manner while the final assembly stage is pull-based. Hence, the work-in-process inventory at the end of the first stage is used to assemble the finished produc...
15 Pages(3750 words)Coursework

Project Management of Beijing Capital International Airport T3 Terminal

Some stakeholders can be both driving (positive) and restraining (negative) forces, it depends on how the project will meet their interests. These forces are marked by a dotted line. If changes happen, and the project won’t meet the interests of some of these stakeholders, a vector of the corresponding force will be changed onto the opposite and the force will move onto the opposite part of the diagram.

Each half of the diagram (left and right) is divided into three parts – Low, Medium and High. It defines the size of a force vector and indicates the importance (power) of a given force. Short forces have a low level of power.

Civil Aviation Administration of China (CAAC) – undoubtedly advanc...
7 Pages(1750 words)Assignment

Dixons Retail Groups Organisational Structure, Management Style and Marketing Strategy

...Abstract This paper looks at the different elements of Dixons Retail Group, one of Europe’s leading specialist electric services and retailer company. The paper specifically discusses the Group’s organisational structure, management style and human resource management, marketing strategy and supply chain management. From the findings gathered during the discussion, the paper projects future success for the business, but not in all sectors. Table of Contents Abstract 1 1.0.Introduction 2 2.0.Organisational structure 2 2.1.Dixon Retail Group Structure 2 2.2.Organisational structure and corporate strategy 4 3.0.Management Approaches and Human Resource Management 5 3.1.Management 5 3.2.Human resource management 6 4.0.Marketing Strategy 7 5.0...
11 Pages(2750 words)Research Paper
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 Retail Marketing Strategy Management for FREE!

Contact Us