Select any retail establishment of your choice in order to gain specific knowledge about the marketing strategies, physical facility, and people management of the operation. Provide a report on how you will addressing how this retail establishment is positioned. Are there any elements out of place? Provide recommendations you would make to enhance market positioning? Substantiate your findings with support from your research you may have found.© BrainMass Inc. brainmass.com June 3, 2020, 11:00 pm ad1c9bdddf
Retail Business Analysis.
Select any retail establishment of your choice in order to gain specific knowledge about the marketing strategies, physical facility, and people management of the operation. Provide a report on how you will addressing how this retail establishment is positioned. Are there any elements out of place? Provide recommendations you would make to enhance market positioning? Substantiate your findings with support from your research you may have found.
I am giving an Indian example of House of Scarves. When it comes to fashion, House of scarves, ensure that it becomes more than just a passion. It becomes a way of life, a statement. The retail shop aims to cater to the masses by giving them a variety at affordable prices. Our main aim is to explore the market of scarves which is still very new and fresh in the fashion industry. Along with the scarves we aim to give a complete look to the store by having a numerous product line to serve our customers and give them value for their money.
The scarves specialist store is located at one of Delhi's busiest and popular markets, i.e. Karol Bagh market. The parent company of the same is named Roop Traders. The head office is located at Chandni Chowk, where manufacturing of scarves, their trading, wholesale deals etc take place. The group is run by Mr. C.L. Behl and his son Mr. Sanjay Behl. The accumulative turnover of the parent company and its sister concern is approximately Rs.2 Crores.
HOUSE OF SCARVES
Established : January 2007
Stock to Sales ratio : Approximately 1.25% per month
Annual Turnover : Rs.75, 00,000
Footfall : Pitfall :: 1:2
Quarterly sales for last 4 quarters:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Annual
(Oct.`07 - Dec.`07) (Jan.`08 - March`08) (April`08 - June`08) (July`08 - Sep.`08) (Oct.`07 - Sep.`08)
Rs.21,00,000 Rs.20,00,000 Rs.15,00,000 Rs.19,00,000 Rs.75,00,000
The store doesn't have any major competitors since it is the only brand selling such a huge variety of scarves. Along with the vast range of scarves, the store also offers the other product lines i.e. Ladies apparels (upper wear), Belts and Bags.
HOUSE OF SCARVES
1. Monopoly in the market: There is no other retailer in India whose main product line is Scarves. Hence the brand enjoys a monopoly in the market.
2. Positioning of the brand: The brand has positioned itself as a complete store by adding more product lines, which is giving value to its customers. This gives the store a strong base to cater huge number of customers.
3. Cost competitive: The brand has its own manufacturing set up for producing scarves due to which the manufacturing cost is very low and thus they are able to sell the scarves at competitive prices. These also include embellished scarves with good quality fabric.
4. Broad variety of products: The house of scarves has various number of product lines which makes it a complete store under one roof, which makes it attractive for the customer to shop. This also increases the number footfalls in the ...
Response provides guidance for Retail Business Analysis