RMG 200 Chapter Notes - Chapter 4: Online Shopping, Human Resource Management, Competitor Analysis

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: Ken Wong

Document Summary

All of the things that are within your control and can be changed. All of the things that retailers cannot control. Technology that will make retailing more efficient. Social trends (consumer behaviour, demographic and lifestyle trends) Seven important opportunities for retailers to develop sustainable competitive advantages are: Critical factor in consumer selection of a store competitive advantage. Knowledgeable and skilled employees committed to the retailer"s objectives are critical assets. Competitive advantage by developing private-label brands (store brands) Vendor relations (develop strong relationship with vendor) Obtain special terms of purchase that are not available to competitors who lack such relations. Customer loyalty: customers are committed to shopping at a particular retailer. Developing a strong brand for the store or store brands. Creating an emotional attachment with customers through loyalty programs. Positioning is the design and implementation of a retail mix to create an image of the retailer in the customer"s mind relative to its competitors.