Topic 4: Retail Marketing Strategy

All business activities can be used to create a sustainable competitive advantage.

• True

• False

The mixed-market format is the market segment toward which the retailer plans to focus its resources and retail mix.

• True

• False

A retail format is the retailer's mix including merchandise and services, pricing, advertising, store design and location.

• True

• False

Positioning is the design and implantation of a retail mix to create an image of the retailer in the customer's mind relative to its competitors.

• True

• False

A retailer expanding their hours to open an additional hour each evening is using the market expansion growth strategy.

• True

• False

Involves using the retailer's existing retail format in new market segments.

(a)  

It means that customers are committed to buying merchandise and services from a particular retailer.

(a)  

The set of steps a retailer goes through to develop a strategy and plan. Describes how retailers select target market segments, determine the appropriate retail format, and build sustainable competitive advantages.

(a)  

The design and implementation of a retail mix to create an image of the retailer in the customer's mind relative to its competitors.

(a)  

An advantage the retailer has over its competition that is not easily copied by competitors and thus can be maintained over a long period of time. Essentially building wall around its position in a retail market.

(a)