Strategic Retail Management Process and Boutique Market Entr…

About this Assignment Retail organizations create and implement detailed strategies that lead to success and profit. In this course, you learned how retailers analyzed their external environments to plan, organize, direct, lead, and control their organizational strategy. In the first assignment, you developed a written plan for a new boutique that would open in a recently revitalized urban neighborhood. In this assignment, you will expand upon the planning, organizing, directing, leading, and controlling aspects of the process as well as create an audio-visual presentation that will be delivered to the boutique owners. Your presentation should be based on the seven stages of the Strategic Retail Management Process, as covered in the previously written market entry retail plan. The presentation should supplement your previously written retail plan, showing how your three proposed options will help the client’s boutique reflect and contribute to the art, fashion, history, and culture of the neighborhood, while still being profitable. Additionally, explain how the management functions of planning, organizing, directing, leading, and controlling were utilized throughout the process. Your presentation will be delivered to the clients in a 10-20-slide presentation, and take 5-10 minutes. (PowerPoint’s Record feature provides an easy way for you to narrate slides simultaneously.) Project Prompts Retail is as much about customer service as it is about offerings and presentation. In this case, your customers are the owners of the shop, so keep this in mind as you develop your presentation. Since most retail communications have verbal, nonverbal, written, and visual elements, consider how to incorporate these elements into your presentation. You can combine elements into your presentation by creating a narrated presentation, using tools like PowerPoint or Prezi, that lets you combine text, sound, images, and movement into one medium. Think about how you will make this presentation visually appealing to the clients. Your goal is to give them three clear options. Your previously written retail plan presents the facts behind your suggestions; this presentation is your chance to build excitement about the options and explain how the management functions are used throughout the process. Think about ways to present your ideas in a way that helps the clients see themselves being successful using any of the three options. Keep in mind that your previously written market entry retail plan contains your research and analysis, and that the clients will use it as they work on their boutique. This presentation is the meeting where you will give the clients your written plan, so you can assume they have it in their hands as you give the presentation. To keep the presentation flowing and engaging, you can refer to data in your written plan during the presentation, without having to go into details. For example, if one of your suggestions is an upscale women’s shoe store, you might refer to a table in your written plan that shows the number of professional women working in the neighborhood and the distance to the nearest store with similar offerings. This lets you present facts and data without getting into too many details during your presentation. Related Lessons In addition to the lessons from the first assignment, the following lessons from the course may help you with this assignment: Stages of the Strategic Retail Planning Process Consumer Behavior Influences: Cross-Cultural Variations & Demographics Atmospherics That Influence Consumer Behavior Consumer Psychology and the Purchase Process What is Content Marketing? – Definition & Purpose Formatting & Sources You may refer to the course material for supporting evidence, but you must also use at least three credible, outside sources and cite them using APA format. Please include a mix of both primary and secondary sources, with at least one source from a scholarly peer-reviewed journal. If you use any Study.com lessons as sources, please also cite them in APA (including the lesson title and instructor’s name). Primary sources are first-hand accounts such as interviews, advertisements, speeches, company documents, statements, and press releases published by the company in question. Secondary sources come from peer-reviewed scholarly journals, such as the Journal of Management. You may use sources like JSTOR, Google Scholar, and Social Science Research Network to find articles from these journals. Secondary sources may also come from reputable websites with .gov, .edu, or .org in the domain. (Wikipedia is not a reputable source, though the sources listed in Wikipedia articles may be acceptable.)