Conventional Supermarkets
Retail Branding Strategy
Retailer branding strategy can be defined as an approach planned by the organisation to achieve the organisation’s missions and goals. Retail branding strategies also facilitates in their competitive advantage in the industry. With strategies applied, companies can be viewed as a distinctive store as compared to other companies. There are various strategies that retail companies can adapt and one of the retailing strategies consists of seven factors; operating procedures, location, merchandising customer services, consumers, pricing, and promotion factors. (cite book)
Conventional Supermarket
An industry that we would also touch upon is conventional supermarket. Conventional supermarket is a departmentalized food store with a wide range of food and related products. The supermarkets are usually differentiated by their sizes e.g. a conventional supermarket is between 500 and 2000m2. (cite pdf)
Supermarket Strategy
Goods
Conventional supermarkets should have a basic retailing strategy that they can adapt globally. Firstly, what goods do conventional supermarkets want to offer? A conventional supermarket typically offers a wide range of products and assortment and their merchandises would include both private and generic labels. Private labels are also known as house brands in food retailing. House brands were introduced to promote brand loyalty and are usually priced at affordable prices as compared to other brands that the supermarket takes in.
Prices
Prices are generally competitive in conventional supermarkets due to high competition within many firms for the same consumer with homogeneous product offerings (Dolan and Simon, 1996; Kotler, 2003; Lucas et al., 1994) Competitive price is defined as price of a product is based on what other competitors are charging thus it is not relatively as low as the old-fashioned neighbourhood convenience stores that are also locally known as ‘Indian Mama Shops’.
Consumers
Secondly, a supermarket has to
Retailer branding strategy can be defined as an approach planned by the organisation to achieve the organisation’s missions and goals. Retail branding strategies also facilitates in their competitive advantage in the industry. With strategies applied, companies can be viewed as a distinctive store as compared to other companies. There are various strategies that retail companies can adapt and one of the retailing strategies consists of seven factors; operating procedures, location, merchandising customer services, consumers, pricing, and promotion factors. (cite book)
Conventional Supermarket
An industry that we would also touch upon is conventional supermarket. Conventional supermarket is a departmentalized food store with a wide range of food and related products. The supermarkets are usually differentiated by their sizes e.g. a conventional supermarket is between 500 and 2000m2. (cite pdf)
Supermarket Strategy
Goods
Conventional supermarkets should have a basic retailing strategy that they can adapt globally. Firstly, what goods do conventional supermarkets want to offer? A conventional supermarket typically offers a wide range of products and assortment and their merchandises would include both private and generic labels. Private labels are also known as house brands in food retailing. House brands were introduced to promote brand loyalty and are usually priced at affordable prices as compared to other brands that the supermarket takes in.
Prices
Prices are generally competitive in conventional supermarkets due to high competition within many firms for the same consumer with homogeneous product offerings (Dolan and Simon, 1996; Kotler, 2003; Lucas et al., 1994) Competitive price is defined as price of a product is based on what other competitors are charging thus it is not relatively as low as the old-fashioned neighbourhood convenience stores that are also locally known as ‘Indian Mama Shops’.
Consumers
Secondly, a supermarket has to
References: Genessa M. Fratto, Michelle R. Jones, Nancy L. Cassill, (2006),"An investigation of competitive pricing among apparel retailers and brands", Journal of Fashion Marketing and Management, Vol Barry Berman and Joel R. Evans. 2012. Retail Management, A Strategic Approach. http://www.fairprice.com.sg