QUESTION

It is important to have a structured retail strategy in order for the retailer to manage its business effectively. You have been appointed as the manager for the selected retailer and your first task is as follows:

1 Analyse the current situation and conduct a SWOT analysis. Examine the internal environment of the retailer and prepare a SWOT analysis for the company. Discuss these components theoretically (very briefly), and then apply the theory to the retailer in practical terms by considering the current situation in South Africa and indicating how events and trends in the environment affect the retailer. (See a summary of what needs to be included on pages 73 to 80 and refer to the appropriate Chapters in the textbook

- steps 1 and 2 in the template on page 91.)

2 Set objectives. Based on the situational analysis, set the long and short-term objectives for the retailer. Discuss these concepts theoretically (very briefly), and then apply the theory to the retailer in practical terms by setting specific and measurable objectives. (Refer to pages 80-84 in the prescribed book for guidance on the appropriate Chapters to consult - step 3 of the template on page 91.)

In your discussion, you need to make recommendations for the retailer you have chosen.

This is a practical assignment, so do not simply present the theory; apply and relate it in practical terms to the retailer you have chosen. Remember to liaise with the retailer that you have chosen; this will make things easier for you when you compile the marketing plan.