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Retail Business Analysis
The retail establishment that I visited is a local chain of shops called Shopko. They sell a wide range of products including clothes, sports wear, toys, household items, electronics, greeting cards and candies. The section that I would like to concentrate is the clothes section for infants and toddlers.
What is Generic Marketing Strategy and its implications for Shopko?
Generic marketing strategies help an organization to gain competitive advantage in its line of business. "In the quest for competitive advantage, the foremost concern should be the likely market response to the proposed strategy. In order to be successful, the strategy -- whether driven by cost, technology, distribution, service or other competitive advantages of the firm -- has to be consistent with the consumer needs, perceptions and preferences." (Wind, 1983, p.12).
In other words, Shopko should consider the market response for its toddler and infant clothing section besides cost and distribution factors. The line of clothes sold...
It faces severe competition from retail stores like Walmart and Target and also specialty stores like ToysRUs, TJMAX and Old Navy.
Revenue from the sale of its toddler and infant clothing forms only a small part of its total turnover and the retailer is looking to increase its share in the overall profitability of the company and also to increase the market share among its competitors. There are several stumbling blocks in this process. The first is that Walmart and Target sell a cheaper brand of clothes and a good section of the population prefer to spend less in the current business environment and market situation. Another section of the population who are in a better position to spend more money prefer to go to specialty stores like ToysRUs. As a result, Shopko is caught in the middle with nothing distinct to offer to its customers.
Recommendations
The first step that should be taken by Shopko to increase its market share in toddler and infant clothing is…
References
Wind, Yoram. Robertson, Thomas. (Spring 1983). Marketing Strategy: New Directions for Theory and Research. The Journal of Marketing. Vol 47(2). pp12-25.
Dietl, Helmut; Royer, Susanne;Stratmann, Uwe. (Spring 2009). Value Creation Architectures and Competitive Advantage: Lessons From the European Automobile Industry. California Management Review. Vol 51(3). pp24-48
Lander, Jack. (September 2008). Niche Products Fly High. Inventors' Digest. Vol 24(8). pp40-41
Hougaard, Soren; Bjerre, Mogens. (2003). Strategic Relationship marketing. Publisher: Springer.
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