Reference no: EM133285006

Assignment - This research paper should be written in paragraph form, . Please use the headings listed below (A. History of the Company, B. Retail Strategy, 1. Target Market etc. ) to make your paper flow well. A well-researched paper should be at least five -eight pages 1st step - Select a retailer. Remember a retailer sells to the "ultimate consumer".

NOTE: This project can also serve as valuable groundwork for the RETAIL GROUPPROJECT due at the end of the semester. Pick a retailer with a similar concept to a store that you are interested in opening to reduce work later on in the semester

2nd step - Research (Primary and/or Secondary) the retail operation you selected. This is a required part of your project. Your paper should include the following:

A. History of the Company:

How long have they been in business?

Type of ownership?

What type of retailer are they?

Why did they start this business and how has their business changed over the years?

What is their mission statement?

Include website, number of employees, location(s), brief product description,management structure

B. Retail Strategy

Outline the following: Target Market:

Suggested Questions for primary sources:

"If you had to describe who your "perfect" customer is ... would that sound like?" "How doyou keep track of your customers? Do you have a database or CRM?"

Define their customer according to demographics (age, gender, income level, education etc.)

Use demographic statistics/research to validate if this is a good target for them

Retail Format - "How do you communicate or what channels do you use to reach your customer?"

"Which channel is the most profitable for you?"

Describe the nature of the retailer's operations. How do they reach the consumer?

Describe their retail mix. (Product, price, promotion, place, people, processes, physical)

Is there an opportunity they are not capitalizing on?

Competitive Advantage: "Who would be your direct competitor and why?"

"Do you communicate with them directly and/or how do you keep up with what they aredoing?"

Does this retailer have a "competitive advantage" over similar stores?

Who are the direct and in-direct competition?

How can they retain this advantage or achieve an advantage over theircompetition?

Is there an opportunity that you feel they are not capitalizing on?

C. Store Location: "How do you like best/least about your location?" "Where do youfeel you would do better location wise?"

Where is this retail store located? (CBD, Shopping Center, Specialty Center,MXD)

Why do you think they chose this location?

Is this site accessible for the customer? Barriers?

What type of lease do they have? (May not be willing to give this informationout).

What are other stores in the area paying for rent if the owner does not want toshare this information? ( May have to contact a realtor)

Trade Area - primary, secondary, tertiary

What is their growth strategy? Do they plan to expand, penetrate, diversify, orchange their retail format in the near future?

Is there a better location in your opinion or is this one ok?

D. Store Layout: "What do you think works well/least about the layout of your store?" "Do you feellayout is important to your customers overall satisfaction?"

What type of design layout does this store use? (Grid, Racetrack, Free Form etc.)

Is it effective for customer flow?

What type of fixtures do they use?

What type of lighting are they using?

Is music constantly playing? What type?

What type of scent is in the store? Does it detract or attract?

Make suggestions on what you would do different or improve upon.