Chapter 3
Chapter 3
objectives Show Value of Strategic Planning Explain Steps in Strategic Planning Examine Controllable and Uncontrollable Elements of retail Strategy Present Strategic Planning as a Series of Integrated Steps
• Show Value of Strategic Planning • Explain Steps in Strategic Planning • Examine Controllable and Uncontrollable Elements of Retail Strategy • Present Strategic Planning as a Series of Integrated Steps
Retail Strategy Overall Plan or framework of action At Least one year Outlines Mission Goals Consumer Market Overall and Specific Activities Control mechanisms
• Overall Plan or Framework of Action • At Least One Year • Outlines – Mission – Goals – Consumer Market – Overall and Specific Activities – Control Mechanisms
Retail Strategy Features Provides Analysis of Retail Requirements Outlines Retailer Goals Teaches Firms How to Differentiate Themselves Studies Environment Coordinates Efforts Anticipates Crises
• Provides Analysis of Retail Requirements • Outlines Retailer Goals • Teaches Firms How to Differentiate Themselves • Studies Environment • Coordinates Efforts • Anticipates Crises
Retail Strategy Elements Situation Analys Objectives Identification Of Consumers Overall Strategy Specific Activities Control
VI. Control V. Specific Activities IV. Overall Strategy III. Identification Of Consumers II. Objectives I. Situation Analysis
Step L Organizational Mission Situation Ownership and Management Analysis Alternatives Goods/service Category
Situation Analysis Organizational Mission Ownership and Management Alternatives Goods/Service Category
Step 2 Sales Profit Objectives Satisfaction of publics mage
Objectives Sales Profit Satisfaction of Publics Image
Step 3 Mass Marketing Identification of Concentrated Marketing Consumers Differentiated Marketing
Identification of Consumers Mass Marketing Concentrated Marketing Differentiated Marketing
Step 4 Controllable variables Overall Strategy Uncontrollable variables
Controllable Variables Uncontrollable Variables Overall Strategy
Step 5 Daily and short-Term operations Specific Activities Responses to Environment
Specific Activities Daily and Short-Term Operations Responses to Environment