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Strategic
planning in retailing
Strategic
planning is often done in order to solve a specific problem.
Strategic planning involves a situation assessment of your business,
whether just starting up or already in operation. In a strategic plan
each ingredient (location, merchandise, design, marketing, inventory
and technology) is carefully examined in order to detect room for
improvement.
The
strategic plan focuses on the overall picture and takes into account
that everything you do is marketing and everything a customer sees
and hears sends a message. When we work with retailers to develop
plans, they often learn to transform their operation's approach from
reactive to proactive while maintaining their goals and budgets.
Elements
of retail planning strategy
- Situational analysis
- Organizational mission
- Ownership and management alternatives
- Goods/service category
- Objectives
- Sales, profit, satisfaction of public, image
- Identification of consumers
- Mass marketing
- Concentrative marketing
- Differential marketing
- Overall strategy
- Controllable variables
- Uncontrollable variables
- Specific activities
- Daily short term operations
- Response to environment
- Control
- Evaluation
- Adjustments
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