How long have they been in business

Assignment Help Marketing Management

Reference no: EM133438418

Questions:

A. History of the Company:

• if you couldn't find sufficient info, you can opt for interview anyone from the company that can give you the information needed. Who did you interview? (Full name and position.) How long have they been in business?• How has their business changed over the years?• What is their mission statement?• Do they plan to expand, penetrate, diversify or change their retail format in the near future?

B. Retail Strategy

1. Who is their Target Market:

• Define their customer according to demographics (age, gender, income level, education etc.)• Trade Area - primary, secondary, tertiary• Identify the company's competitive advantage.

2. Merchandise Assortment:

• What are the major brands they carry? Do they have private brands?• Does this retailer carry convenience goods, shopping goods or specialty goods?

3. Human Resources:

• How does this store prepare and train their sales people?• Are they paid on commission, salary or hourly wage?• Are the sales people allowed to cross sell? (if there are separate departments)• Do they outsource any activities in their business?

4. Pricing:

• What is this stores pricing policy? (Everyday Low Pricing, High/Low Pricing etc.)• What other practices do they use to compete with price? (Coupons, Rebates, Price Bundling)• Does this retailer use the cost-oriented method of pricing or demand-oriented pricing.• Is there a frequent shopper program?

6. Communication Mix:

• Choose any 2 new media elements and 2 traditional media elements that the company is implementing.

7. Identify strategies done by the company based on the Growth Opportunities or Ansoff Matrix. Justify your answer.

8. Conclusion, References including in-text citations

Reference no: EM133438418

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