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Strategic Planning for S.T.O.R.E

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STRATEGIC PLANNING FOR By Bidisha Pao Who are we? A non-profit retail outlet inside the IIM Rohtak campus Primary purpose is to provide all kinds of necessary goods to the students, faculties and staff We believe in growth by always keeping you happy and content 2 Ideas of Growth FACTS 3 ISSUE OPPORTUNITY Expectations in terms of availability of items is really high Do we have the items or can it be arranged? Keep more variety in stock Butter Maggi is the most sought after food offering 50% of the population prefer to get it from the competitor Reduce wait time Comfort of customers when in store is the main driver Space is too small for the Change location to a crowd bigger space Attention given to customer can serve lead to customer satisfaction Less no of people to attend to customers More efficient distribution of shifts for S.T.O.R.E community Things WE have to do 4 Make a statement on launch • Find a good value product with high volume potential Filling gaps in our variety • Targeted approach to product and price- draw customers and take market share from competitors (Chandan food stall and Online apps) Filling Demand-Supply Gap • Review complete ranges of all products and prices on offer and determine market gaps that exist • Need to be outward focused on trends identified- not just personal tastes Retail Action Plan 5 1)Communication initiatives • PR campaign: Launch new product with PR committee collaboration to create excitem ...
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