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Research Paper example - Retail Business Analysis
Pages 4 (1004 words)
Retail Business Analysis Name: Instructor: Task: Date: Retail Business Analysis Generic marketing strategies encompass planning methodologies, which an entity utilizes to enhance performance. Such a strategy is evident in an organization focusing on attaining a viable advantage (Pizam, 2010)…
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A retail establishment that implemented generic marketing and segmentation approaches is a Reebok store. Implementation of segmentation strategy The retail implemented the strategy by separating a big probable market into minor groups, which exude diverse retail needs. The retail started by categorizing their market thus stating the general boundaries of market they intended to segment. This is achievable at the product progress stage. As such, one needs to find information about the intended target. Later on, they established market segmentation drivers for every product, which is achievable basing on age. Furthermore, other determinants incorporate expenditure, likeability of other merchandise, demographic facts, and imbursement methods. After successfully doing that, they chose a critical strategy that defines major segments. In the last stage of the implementation, they prioritized basing on the resources that they could dedicate to their marketing effort and the likely outcome of addressing each segment (Weinstein, 2004). Implementation of Generic market strategy The retailers implemented the strategy by identifying its strengths and weaknesses, uniqueness, advantage, and usual tendencies. ...
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