Develop a strategic retail plan for a new retailer.

Question:

Provide details of what you intend to do with each of the specific (Controllable) elements (see list below). You need to provide specific examples of activity in relation to these specific (Controllable) elements:

• Intended store location.
• Managing the business.
• Merchandise management & pricing;

Remember to justify each element (i.e. why was such activity/ies proposed)

includes recommending in detail what specific action is required by the retailer to attain set objectives within the chosen market. Thanks.

Background

This is a new avant-garde women's clothing brand. Previously, it was only sold online, but now it wants to own a physical retail store. Strategies need to be developed.

Brand focusing on feminine style with a twist.

Define the industry: Traditionally, apparel companies have been wholesalers, selling large quantities of merchandise to retailers and then marking up the merchandise and selling it to consumers for a profit

Retailer Objective:

Profit: The net profit is expected to reach $xxxx a year

Positioning: Mainly physical shops with simultaneous online sales to minimise operating costs while maintaining the quality of offline shops

Satisfaction of publics: Maintain an overall customer satisfaction rate of 75% with the brand