Retail Strategy

Decisions involving what kinds of merchandise and services to be offered, prices to charge, store location, advertising, displays, sales associates, and other factors.

• Retail Mix
• Target Market
• Market Segmentation
• Target Market Profile

Specific group of people a retailer focuses merchandise decisions

• Retail Mix
• Target Market
• Target-Market Profile
• Market Segmentation

A description of the target-market customers

• Target Market Profile
• Target Market
• Retail Mix
• Market Segmentation

Analyzing a market by specific characteristics in order to create a target market

• Market Segmentation
• Demographics
• Psychographics
• Geographics

Personal characteristics such as age, gender, income, occupation, education

• Demographics
• Psychographics
• Geographics

Studies of consumer lifestyles such as attitudes, interests, and opinions.

• Psychographics
• Demographics
• Geographics

Where customers live, cool or warm climate, urban, suburban or rual areas

• Psychographics
• Demographics
• Geographics

The number and kinds of services offered by a retail establishment

• Services Mix
• Product Mix

Everyday expenses such as rent, office supplies, telephone, internet

• Operating Expenses
• Interest Expenses
• Cost of Goods Sold

Expenses a retailer pays to finance any loans the business obtains

• Operating Expenses
• Interest Expenses
• Cost of Goods Sold