Retail Business Analysis

Retail Business Analysis

Abstract

This paper will explore and assess how a specific organization that I visited implemented the generic marketing strategy and the segmentation strategies. In addition the paper will synthesizes a concept of how those assessed strategies could be improved and impact the successful marketing of the product. Generic marketing strategy and segmentation strategies are used by organization to determine what is best for the organization to sell a particular product.

Writing

Retail Business Analysis

A few days ago I was in a relatively poor area and decided to enter a fairly large department chain store that is well known all over the United States. I entered this store not only because I wanted to see how they market their merchandise but I wanted to know what kind of merchandise they sell. In addition I also wanted to know since this is a large chain store, would they cater to the geographical area or would they sell the same merchandise as they would in a richer area?

MARKETING STRATEGY

After carefully analyzing the store I came to a conclusion that the store did not pay attention to the marketing strategy approach. They were more concerned about the brands that they were selling instead of looking at the bigger picture. This particular store did not seem to care about the cost leadership. They had way too many people working in the store with not a lot of traffic. From my observation, I noticed that most people that walked in to the store, walked out empty handed with a puzzled look on their face. In addition, this particular organization did not care about differentiation. They sold exactly the same thing as the other stores did in other locations. They didn’t seem to focus on the customer’s needs, they only thought about the organization. The focus should have been on a few products and in turn they would have been more successful. According to a peer reviewed article written by Debra Zahay, & Abbie...