Question: Assignment. Pick a retailerone with one or more physical storesthat you want to improve. It does not need to be a retailer that is in
Assignment. Pick a retailerone with one or more physical storesthat you want to improve. It does not need to be a retailer that is in bad shape, at all, but you will want to use the assignment to make changes for it. (Because my slides consider the exterior, etc., some students will find it easier to select an actual retailer. However, after you read this assignment, and power point, and decide to use a non-retailer brand, email me to let me know early. I will very possibly accept a non-retailer brand if you let me know a week before it is due!)
- First, provide a critical analysis of the retailer, versus other retailers. In the critical analysis, explain the strengths and weaknesses of the retailer, compared to others, in its ability to provide a distinctive competence to consumers. You may well wish to use SWOT in this critical analysis; regardless, please provide an insightful critical analysis. Based on this critical analysis, explain the specific image goals that you want the firm to emphasize.
- Secondly, explain the psychographic market segment that you would like it to attract to be successful in some detail, and why you wish to target this consumer. If you discuss demographics, give emphasis to the psychgraphic segment you select, and its qualities.
- Thirdly, and most importantly, explain the specifics that you want the retailer to use across the four different stages of the consumer information process. Come up with specific changes in marketing strategy, for each of the different stages that should help your retailer be more successful to meet your image goals and attract the targeted consumer. Please come up with at least a couple of specfics for each of the four information processing stages. (Should you show pictures of retailers to support your changes? For example, suppose that you want to accentuate a store door, and you decided to use colors that appeared to make the customer feel that s/he was getting away, such as shown in the Macy's picture above? Yes, definitely consider using pictures to convey your ideas!) Use the power point that I provided, primarily, and possibly, insight from chapters 8 and 9, about the stages, in your analysis.
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