Business Finance
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Question Description

you will create a Strategic Retail analysis for your client, Campus Closet. ( our campus closet in the collage )

I will attach our first part done to give you an idea about what is it about ( Important to read )

  1. What is the retailer’s approach to managing human resources?
  2. Describe the retailer’s merchandising strategy – how they receive items, what they keep, what they have to buy, breadth vs depth of merchandise, etc. How can they attract donations from other fields such as hospitality, trades, nursing, access, etc.?
  3. What is the retailer’s pricing strategy and how does this affect their ability for long-term sustainability? Describe the retailer’s approach to advertising and sales promotions. Has it been effective for them? How does the signage align or misalign with the brand?

Use minimum of 4 acadimic business sources for this assignment .

Unformatted Attachment Preview

MARK 230: RETAILER STRATEGY ANALYSIS Retailer Description and Background: Campus Closet is a project started five years ago by entrepreneurs, students and Catherine Mack. The main idea is to give an opportunity for students to wear an appropriate clothing for their first interviews and job fairs. Camosun college students and faculty will run this facility. All clothes, shoes and accessories will be rented free of charge to Camosun students. Moreover, Catherine Mack strongly believes that even if their service will become popular or flop among students, campus closet will never charge anything to students. It took an unbelievable amount of time and work for Catherine and students to open the Campus Closet. They faced problems such as lack of space, lack of financial support and of course, no inventory. Apparently, when the President of Camosun college Sherri Bell looked at the project she happily helped financially and morally. After a while Cath’s team got a space to open their dream project. During that time period, many other instructors get involved and offered her their help as well. A lot of new and used clothes were donated and a lot of marketing work was done. After a while, Cath started getting donation of clothes and money from a community. A dry-cleaning company provide services at discounted rate. Now Campus Closet is almost ready to be open. It is located near the staff parking and close to Interurban road at Interurban Campus. It is almost renovated from inside and got everything it needs to get started. It will also offer some volunteering hours for students in Camosun College. Besides facility will be run by volunteers, it has an effective business strategy to successfully enter the market. Thrift shops and Value village which offer a wide range of different type of clothes and accessories has become really popular among students who cannot afford formal clothing. As Campus Closet is non-profit organization conventional sale strategies will not be effective for it. Effective business strategy for Campus Closet could be “Multilevel marketing”. This strategy can be described as leverage friends, family, and other personal networks to recommend products and act as a sales force. This strategy is popular among retailers as Avon, Mary Kay, Amway etc. It is common knowledge that people always share with each other about best places and value for money and in this case, the services provided by Campus Closet are up to the level and this will spread like forest fire. So, this strategy would not only help to increase awareness to rent formal clothes for free, but also get more students involved to give their volunteer hours to Campus Closet. Strengths of Campus Closet: ● Free of charge for students. ● Good location for business students. ● Branded clothes and accessories. ● All clothes and shoes are clean and hygienic. ● Volunteer work encourages students to support their community. ● First on Vancouver Island. Weaknesses of Campus Closet: ● Shop is small and cannot fit a lot of people ● Lack of clothes and shoe sizes. ● Risk of being unsuccessful. ● Bad accessibility for students from Lansdowne campus. ● Will be open for a couple of days per week. ● No proper strategies made yet for its operation. External Environment: Currently, Campus closet isn’t open yet but it’s near to its opening. Everyone is excited about this concept because this will be one of its own kind on Vancouver Island. There is no direct competition for this and no problems are coming in its way to open. Campus closet is on a pretty safe side in its attempt to compete with its competitors in town. As it will not charge students a single dollar for renting out clothes which are also trending and premium whereas indirect competitors like Value village and Thrift stores offers only out of trend and used old clothes. The advantage is every student can go and rent clothes from there which will make them look professional but on the other hand there is not a good collection of clothing in other stores. People have to pay to buy clothes that do not even make them look professional at all. Campus closet can be described as non-profit specialty store because it will not charge students a single cent for renting clothes and it has wide variety of clothing for males and females. It not only offers clothing line for both sexes but also has different kinds of accessories that will make them look professional in business attire. It has clothing line from different famous brands, so that students should feel comfortable wearing these. There are some environmental and economic factors that will affect the retailer. Campus closet is not located at a very good place. It’s hard to find and to tell directions about it because it is a separate small building somewhere near to parking lot and bus stop. Students might can feel shy going to campus closet in front of other people because some people do not like to wear clothes wore by others and do not want to show that they cannot afford new clothes. Besides these, it would be a challenge to convince students who thinks these kinds of clothes could contain bacteria and viruses. People from every culture can have this mentality. It would be tough to make a positive image and attraction of people towards campus closet because now people seems excited about it but no one is sure whether it will create a positive image or not. It could be hard to find people who would like to do voluntary work for campus closet as the hours are in between the school hours. There is no proper arrangement for getting continuous financial support to run it. Moreover, it is very expensive to dry clean some of the clothes and There is no certain time limit for a rental and if someone rented it and other guy comes who also needs that rented attire, then he/she might have to return back home without getting it. There is no guarantee that if a graduate student who borrowed clothes from Campus closet will ever return back or not to return the clothes. There will be one or two change rooms, ambience music and CCTV cameras. Besides all of this, Campus closet has the ability to do better than we could think. The point is many students spends mostly all of their savings and earnings on school, rent and food. They are not in the condition of buying expensive clothes during school days. So, they can use the clothes for presentations, meetings and interviews. They can borrow the clothes as many times they wish until their first pay cheque and by that time they can at least save their money by just renting clothes. There will be students who will not hesitate renting from there and there might be some who would not go there because of their public image. Examining the diversity and love among each other on college campus, there can more chances it would be success and after a period, campus closet will might need a full-time employee rather than volunteers. There is no hassle to get clothes from there. Students need to show their student id and checking with the employee/volunteer there that for how long they can keep the clothes. There is not much expenses for Campus Closet. It is only dry cleaning expenses and startup cost. Furthermore, technology and e-commerce helped a lot in this whole process and will continue to do so. Founder of Campus Closet, C. Mack, got this idea from other universities and colleges in the United States through the means of technology. She came to know more about it by searching more information about it. It’s been so many years now and we all know about campus closet because of social media, news and through college website. There is not even a single flyer printed out to advertise for this and collected donations through internet popularity. So, technology plays a crucial role in overall popularity and to make campus closet trending. Competition: Campus Closet being even as unique organization has competitors. It does not have any direct competitors yet as it the only one place on Vancouver Island which rents out different type of clothes without earning any profit from it. However, it has a lot of different type of indirect competitors. This includes chain of Thrift stores, Value village, and even some small groups on Facebook such as Victoria Clothing Swap, Shop & Sell. In comparison with all other competitors Campus Closet has some significant weaknesses. First of all, Thrift shops and Facebook groups has bigger target market than Campus Closet. They offer wider range of products and sizes. For example, in Value Village there is a huge section for men as well as for women full of different sizes and styles for different ages. So, all customers’ preferences could be satisfied there. Secondly, all the competitors usually open longer than Campus Closet and has better location. For example, Value village open till 11pm on Friday and Saturday and till 10pm on Sunday-Thursday and is in Downtown. Their flexible hours give students opportunity to go there even after late evening classes, as a lot of students are busy during the day. Their location also attracts students due to easy accessibility. Another reason is that not many students right now are aware about Campus Closet, usage and location. They have only heard about it but do not have other information about it. As a new facility, it needs different means of advertising to make students pass by the shop. However, Campus Closet has some undeniable strengths. Firstly, it provides students with free good quality clothes. As many students do not have enough income or forgets to wear on the interview day, they can get it from there. Campus Closet will be an appreciable solution for graduates or co-op students who just started their career path. Second, Campus Closet staff will also give advice to young adults, who do not know what type of attire will suit them better and will be appropriate. Hence, Campus Closet will not only provide students with free good looking and quality clothes and can also seek advice from the staff. In comparison with its other competitors there is a limited number of business strategies available for Campus Closet. The main reason for that is Campus Closet is not focused on the revenue. So, it cannot use some effective strategies which are used by big retail stores. As it was mentioned earlier “Multilevel marketing” will work best for it. However, to attract and make their customers loyal, they can also use such techniques as trying to become a little casual to get their honest opinion and it will also help them in advertisement on social networking. As Susan Solovic mentioned: “In 2015 small business owners will look at the big picture and design their own ‘marketing blend’ that includes several marketing strategies. This means merging traditional tactics. References Campus Closet helps students compete. (n.d.). Retrieved from Campus Closet Informational event. (2016, November 29). Retrieved from Campus Closet Online Store. (n.d.). Retrieved from Campus Closet student club first of its kind at Camosun. (2017, January 26). Retrieved from Georgia Institute of Technology. (n.d.). Retrieved from Georgia Institute of Technology. (n.d.). Retrieved from Georgia Institute of Technology C2D2 | Georgia Institute of Technology | Atlanta, GA. (n.d.). Retrieved from Grants Pass School District 7. (n.d.)., from RSU Career Services Launches Campus Closet for Professional Attire. (2016, March 04). Retrieved February 10, 2017, from Southern University and Agricultural and Mechanical College. (n.d.). Retrieved February 10, 2017, from ...
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Final Answer


Question below– Outline
Thesis statement: Strategic retail analysis helps in identifying the strategies used by the


Management of human resource
A. Maintaining high quality of working standards
B. Reasonable working hours


The retailer's merchandising strategy
A. Offering products with high perceived value
B. Variety of products
C. Flexible products


Attraction of donations
A. Extensive advertisements
B. High level of satisfying customers’ needs


Pricing strategy and sustainability of the business
A. No price charges on item
B. Sustainability not predictable


Effectiveness of the sales strategy
A. High number of customers asking about the closet

Running head: QUESTION BELOW


Question below



The retailer's approach to managing human resources
The main aim of Campus closet is to maximize the satisfaction of the needs of its
customers and the staffs involved. This objective is core to the business than making the
profit. Catherine Mark who is the founder of the closet along with other volunteer students
will be involved in managing the closet. The students participate in rendering the services are
volunteers. It is, therefore, obvious that the students will be willing to offer the best services
to their clients...

henryprofessor (68478)

Thanks for the help.

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