20-1 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Integrating and Controlling the Retail Strategy RETAIL MANAGEMENT: A.
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20-1 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Integrating and Controlling the Retail Strategy
RETAIL MANAGEMENT:A STRATEGICAPPROACH11th Edition11th Edition
BERMAN EVANS
20-2 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Chapter Objectives To demonstrate the importance of
integrating a retail strategy To examine four key factors in the
development and enactment of an integrated retail strategy: planning procedures and opportunity analysis, defining productivity, performance measures, and scenario analysis
To show how industry and company data can be used in strategy planning and analysis (benchmarking and gap analysis)
To show the value of a retail audit
20-3 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Planning Procedures
Outline the firm’s overall direction and goals
Combine top-down plans and bottom-up/horizontal plans
Enact specific plans, including checkpoints and dates
20-4 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-3: The Integrated Strategy of Coach
20-5 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Performance Measures
Total sales Average sales per
store Sales by goods/
service category Sales per square
foot Gross margins Gross margin
return on investment
Operating income Inventory
turnover Markdown
percentages Employee
turnover Financial ratios Profitability
20-6 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
American Customer Satisfaction Index (ACSI)American Customer Satisfaction Index (ACSI)
♦ Are customer satisfaction and evaluation of quality improving or declining in the United States?
♦ Are these attitudes improving or declining for particular sectors of industry and specific companies?
20-7 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-3: Opportunity Analysis with the SBA
20-8 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Table 20-1: Sales Opportunity Analysis
20-9 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Table 20-2: Benchmarking Through Operating Statements
20-10 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Measuring Service RetailingMeasuring Service Retailing
♦ Reliability♦ Responsiveness♦ Assurance♦ Empathy♦ Tangibles
20-11 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-4: Utilizing Gap Analysis
20-12 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Minimizing GapsMinimizing Gaps
Customer insight Customer profiling Customer life cycle Extended business model Relationship program planning
and design Implementation
20-13 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-5: The Retail
Audit Process
20-14 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-7a: Management Audit Form for Small Retailers
20-15 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-7b: Management Audit Form for Small Retailers
20-16 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Obstacles to Doing a Retail AuditObstacles to Doing a Retail Audit
An audit may be costly. It may be time-consuming. Performance measures may be
inaccurate. Employees may feel threatened and
may not cooperate as much as desired. Incorrect data may be collected. Management may not be responsive to
the findings.
20-17 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
Figure 20-7: A Retailing Effectiveness Checklist
20-18 Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in
any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United
States of America.
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