Question

Retailing Assignment 2 Choose a retailer of your choice Conduct the following on the retailer of your choice: 1. Retail store location analysis [To evaluate the store in terms of pedestrian traffic, parking facilities, transportation-access from major highways; public transport access, store size, store visibility]

2. Product analysis [Discuss the product range available in the store]

3. Pricing analysis [Discuss the types of pricing strategies used]

4. Promotional strategy analysis [Discuss the types of promotional strategies used]

5. Store Atmospherics analysis [Discuss the atmospheric strategies used, ie ambience, mode of providing information. Information provided on promotional scheme, returns of goods sold, working hours]

6. Customer service analysis a. Does the customer spend too much time at the cashier? b. Are you satisfied with the handling of queries by the salesman?

Subject : Retailing

Answer 1

The answer to the first 4 subparts is given below :

The retail store that we will be evaluating below is a Clothing Retail Store which sells Branded Clothes:

1. Retail store location analysis [To evaluate the store in terms of pedestrian traffic, parking facilities, transportation-access from major highways; public transport access, store size, store visibility]

Parameters	Size
Daily Store Footfalls	150-300 People
Pedestrian Traffic	700-1000 People
Parking Facilities	20 Cars
Transportation Access	Direct Road Connection Autorickshaw Taxi
Public Transporation Access	Local Bus ( Every 15 Minutes )
Store Size	1500 Sq Ft

2. Product analysis [Discuss the product range available in the store]

The product ranges that are available in the stores include :

• Ready-Made clothing products like T-Shirts, Denim Wear, Leather Jackets, Formal Trousers from around 50 different Brands.
• Hosiery Items like undergarments and innerwear ( both men and women) from over 20 different hosiery brands, these product ranges include trunks, boxer shorts, briefs, bra, panties, thongs, etc.
• Socks and Handkerchiefs from over 5 different brands.
• Clothing accessories like leather wallets, belts, caps, scarfs, Sunglasses etc from over 10 different brands.

3. Pricing analysis [Discuss the types of pricing strategies used]

The retail store focuses on a pricing strategy that is a mix of both Price Skimming and Discount Pricing.

The retail store uses Price Skimming and sells products at higher prices initially for the newly introduced designs and product ranges which are currently trending in the fashion market and then gradually lowers down the pricing as newer design s are introduced, this price reduction is carried out for the older inventory items. During seasonal times such as Christmas and Thanksgiving, the store also uses discount pricing strategy where it slashes down its markup prices and provides a huge discount in order to clear inventory and increase sales.

4. Promotional strategy analysis [Discuss the types of promotional strategies used]

The promotional strategies used by the retail store are as follows :

• Digital Marketing: This includes using digital tools and techniques like Adwords and SEO in order to improve its Business LIsting or its Rank and also the retail store has built its own digital presence by building a website of the retail store.
• Social Media Promotion: The company also uses social media promotion campaigns like Online Giveaways and Discount Coupons on its social media platforms, it also shares the upcoming sale days on its social media handles which drive the sales.
• Traditional Promotional Techniques: The store also uses traditional mediums like Newspaper ads and flyover distribution for promotion.