BSAD 432 Introduction to Retailing. Agenda Course details Introduce some core retail concepts and...
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Transcript of BSAD 432 Introduction to Retailing. Agenda Course details Introduce some core retail concepts and...
![Page 1: BSAD 432 Introduction to Retailing. Agenda Course details Introduce some core retail concepts and trends using an illustrative.](https://reader030.fdocuments.us/reader030/viewer/2022032414/56649ef55503460f94c09052/html5/thumbnails/1.jpg)
BSAD 432 Introduction to Retailing
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Agenda Course details
www.moodle.stfx.ca Introduce some core retail concepts and trends using an
illustrative case. Discussion will incorporate:
Special Characteristics of Retailing The Retail Concept Total Retail Experience Retail Positioning Strategic Options in Economic Downturn
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Identify the 10 largest Canadian retailers according to “Leaving
Home: Global Powers of Retailing 2011” assigned reading.1. Loblaws
2. Couche Tard
3. Empire
4. Metro
5. Shoppers
6. Canadian Tire
7. Katz
8. Jimmy Pattison Group
9. Liquor Control Board of Ontario
10. Rona
What is the Q ratio? (pG30)
•The ratio of a publicly traded company’s market capitalization to the value of its tangible assets.
•If the value is greater than 1, it means that the market believes part of the company’s value comes from its intangible assets.
•What is the Q ratio of Canadian retailers?•Compare Q ratios of Top 30 (pG31) to profit margins of fastest growing retailers (p. G28-9).
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© 2006 Pearson Education Canada Inc.
1.5
Special Characteristics Affecting Retailers
Small Average
Sale
Impulse Purchases
Popularityof
Stores
Retailer Strategy
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Figure 1.10 Applying the Retail Concept
Customer Orientation
Coordinated Effort
Value driven
Goal Orientation
RetailingConcept
RetailStrategy
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Overall Strategy Components
The Retailing Strategy Mix is a combination of: Product Price Location Communication Operations Management
Need to balance with uncontrollable environmental and marketplace factors
Controllable Factors
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Figure 3.7 Selected Retail Positioning Strategies
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The Positioning Approach of High-End Jewellery Stores
Case #4, p. 78
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The Positioning Approach of High-End Jewellery Stores
1. Positioning Chart – Jewellers
2. Blurred positioning?
3. Pros and cons of Tiffany’s low price strategy
4. How would you expect the total retail experience to differ in Wal-Mart, department stores and high-end retailers?
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Total Retail Experience The elements in a retail offering that
encourage or inhibit consumers during their contact with a retailer.
Includes both controllable and uncontrollable factors
Think again about the reasons you gave when choosing your favourite retailer last day…
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“It is critical … for a retailer to choose his or her spots…to accept the notion that you can’t be everything to everyone.”
- Kevin Coupe, Morningnewsbeat.com
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1.13
Strategic Options in Economic Downturn
Increase firm’s cash position Rethink existing store formats Keep stores open longer hours Begin holiday season earlier Re-introduce layaway plans
Berman and Evans, Retail Management: A strategic Approach,11ed., p.25-26.
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Takeaways Retail strategy is influenced by the nature of
retail’s special characteristics Retail strategy should reflect the retail concept The retail strategy mix consists of product, price,
location, communication, and operations management factors
The combination of retail strategy mix creates a perception or ‘position’ of the retailer in consumers’ minds