Retail Positioning Advanced Fashion: Standard 3

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Retail PositioningAdvanced Fashion Standard 3

• Created by
• Kris Caldwell
• Timpanogos High School

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Retail Positioning

• Retail Positioning Where a store situates
  itself in the consumer market. Done by
• Product
• Price
• Place
• Promotion
• Examples Some stores are positioned with the
  lowest possible prices and least amount of
  service. Others are positioned for the best
  values for fashion forward career apparel.

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Target Marketing

• Target Marketing Defining the specialized niche
  of the market to whom the company wishes to make
  the greatest appeal.
• Retailers do this by
• Merchandise Policies guidelines the company
  follows to keep inventory choices on track.
• Operational Policies designed to make
  customers feel good about shopping at the store.

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Policies

• Merchandising Policies Specific guidelines
  established by management for the company to
  follow to keep inventory choices on track.
• Operational Policies Specific guidelines,
  established by management, to make the store
  appealing for the target market through physical
  appearance and customer services.

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Buying Motives

• Buying Motives Reasons why people buy what they
  buy (what motivates them)
• Product Motives based on qualities or images of
  certain products
• Patronage Motives buy from certain stores

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Competition

• Direct Competition between 2 or more retailers
  using the same type of business format. (ex
  GAP, Express)
• Indirect Competition between 2 or more
  retailers using different types of business
  formats to sell the same type of merchandise.
  (ex Dept store/grocery store both sell
  pantyhose)
• Vertical Competition between businesses at
  different levels of the supply chain. (ex
  company that sells to stores and also has a
  factory outlet store)

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Competition

• Lifestyle Competition Rivalry between
  businesses for consumers pastimes and spending
  money.
• Ambiance Atmosphere, how a store pleases
  customers senses.

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Product Strategy

• Assortment range of stock or total selection a
  retailer carries.
• Assortment Breadth (width) refers to the number
  of different item categories or classifications
  offered by a store.
• Assortment Depth indicates the quantity of each
  item available in the assortment of goods offered.

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Price Strategy

• Prestige Pricing Setting high prices on items
  to attract customers who want quality and status.
• Usually in even numbers (ex 48, not 47.99)
• Price Promoting Advertising special price
  reductions to bring in shoppers. Can build
  traffic to buy other items as well.

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Place Strategy

• Site Location Prime location is important to
  attracting the right customers.
• Types of store clusters
• Central Business Districts In cities or towns,
  stores and offices
• Neighborhood Shopping Centers 5-15 stores
• Community Shopping Centers 25-50 stores, with 1
  primary store
• Regional Shopping Centers Malls. Draw
  customers from at least a 10 mile radius.
• Super-Regional Centers Largest malls. 6-8
  Anchor stores, 150 specialty stores, eateries.

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Place Strategy

• Market Coverage The amount of concentration a
  retailer has in a customer area, such as
  intensive, selective, or exclusive.
• Facilities Design Store design to create a
  strong visual identity with the right ambiance
  for the target market.
• Store Exterior Often creates a customers first
  impression.
• Store Interior Includes selling areas and sales
  support areas. Should be functional and
  welcoming for customers.