Assignment 1 Week 4 Retail Managaement

User Generated

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Business Finance

Description

Imagine that you are a new marketing strategist for a retail business and wish to examine the practices of existing retailers for a frame of reference. Go to The World’s Largest U.S. Retail Chains in 2017 and select from the list a retailer in which you are interested.

Write a six to eight-page paper in which you:

  1. Determine which of the retailers from the website is currently the most successful at strategic planning and building relationships. Support your position with one example of such success.
  2. For the retailer you selected, recommend three actions that would enhance relationships with its customers.
  3. Analyze and discuss the characteristics of ownership of the selected retailer and justify your logic.
  4. Analyze and discuss the nontraditional forms of retailing of the selected retailer. Suggest two actions that the retailer can implement to take advantage of the consumer trends in retailing.
  5. Describe the target consumer for this retailer and the buying process this consumer uses specific to this retailer.
  6. Use at least three quality academic resources in this assignment. Note: Wikipedia and other websites do not qualify as academic resources.

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Explanation & Answer

Attached.

Running head: RETAIL CHAINS

1

Retail chains
Name
Institutional affiliation
Date

RETAIL CHAINS

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Retail chains

Introduction
Trade and commerce have been in existence centuries ago whereby goods were exchanged with
other goods. A trader would have an excess of one good and trade it for other commodities.
Retailing has gained ground in the past decades accelerated by the economic boom in developed
countries. Globalization has also played a significant role in retailing across borders by companies
expanding their businesses to other countries. This is the due absence of goods or services in the
host country while there is excess in the domestic country. Internet and media have also played a
great role in ensuring investments in retail business is enhanced through communication. This has
broadened the dimensions of retail business globally. Therefore, retailing in the United States has
broadened and expanded to retail chains globally covering a list of largest retailers in the world.
There are common retailers known globally such as Walmart, Gucci, Gap and Mango all which
are ranked as international retailers from the United States. International retailers are grouped as
global grocery retailers and international fashion brands. The aggressiveness in this retail stores
has enhanced their operations in oversee which has enhanced their viability to attain global retail
positions. The ranking is done based on publicly traded companies in the US which also includes
companies that are privately held in addition to government operated companies. This is in addition
to changes and shifts experienced by a company which either allows it to move up, down or off
the ranking. Hence companies opt to keep up the competition and move up the ranking ladder.
1. Strategic planning and building relationships
Strategic planning is important in a business to provide a direction where it uses its resources to
implement the strategy. Being the largest retailer in the world, Walmart has an unmatched scale of
operation and strong market power with regard to similar retailers. The customer is always the

RETAIL CHAINS

3

greatest concern according to Walmart. Their satisfaction ensures that the company is aggressive
in their business activities. Walmart outlets in various cities in the US has ensured that thei...


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