Description
For this assignment, select a retailer that interests you. That interest can be a retailer that you would like to potentially have an internship or full time position, or you can just select a retailer that you find interesting. The only restrictions on your selection are the following:
1. The retailer must have some physical locations.
2. The retailer must mainly sell merchandise, and not primarily services.
3. You have to be able to get access to information about the retailer through published documents (including the retailer's own information from annual reports or its website).
For this assignment, you will need to do some research on your retailer, and write a brief summary (approximately 250-300 words) of its Retail Market Strategy. This would include at minimum:
a) target market
b) retail format
c) how it seeks a sustainable competitive advantage
d) its growth strategy (adding stores, growth of existing stores, geographic expansion, diversification, new formats, vertical integration)
Explanation & Answer
Please view explanation and answer below.
Retail Management
Retail Management
Student’s Name
Institution’s Affiliation
Date
2
Retail Management
Retail management refers to all steps required to bring the customers into the store and
fulfill their buying needs. An example of a retailer is Costco, founded in 1976, and it has
maintained a strong performance, which has given investors a large attractive opportunity.
Besides, their expectation is long-term investors benefit from advancement in e-commerce,
international expansion, and high earning stability (Baek, & Wang, 2018). The company operates
on high competitive industry on merchandise selection and distribution strategy. Finally, the
Costco target market is educated customers and middle to upper income, for example, those
working in medicine, law, government, and management. Costco targets individuals aged 30 and
above and has their own families.
Besides, the business strategy of Costco is the provision of high-quality merchandise to
its members and cost leadership. It also entails mai...