Retail Management Assignment - Free Essay Example

Sample details Pages: 8 Words: 2307 Downloads: 5 Date added: 2017/06/26 Category Management Essay Type Research paper Did you like this example? Retail Management INTRODUCTION A golf club is used to hit a golf ball in a game of golf . Each club is composed of a shaft grip and a club head .Over an thousands of years ago , Golf was presented by Scottish pioneers in new Zealand . New Zealand is a regular play area with its emotional view and greenery This wonderful have been used by kiwis and also constructed golfs by them . The atmosphere in New Zealand makes it conceivable to playing game golf in any time of the year almost all the year . There are almost 400 golf courses in New Zealand . In the whole world golf attracted people to play this game . It becomes the gigantic fascination for individuals around all over the world . The people who are above 18 years of age like this game to paly elederly people more likely to play this game is near about 5 lakh . This game is good game and favourite game of many people . There is a very big history of the g olf course . New Zealanders can afford this game due to strong economy . Its a popular game between kiwis .They are fond of Playing this wonderful game . As a part of our presentation and task we got a great opportunity to learn about the golf business in New Zealand . We have done a research on the retail golf business of New Zealand . After doing a research on the golf course we had experienced different retail experiences . The owner adopt different strategies and methods to run their business in a right way and very efficiently . They use proprietorship models to run their business successfully. They use different variety of products for their customers . New Zealand has a big history with golf Scottish pioneers Introducing this game over a decades ago . it becomes state of the art facilities with beautiful scenes , green area . In New Zealand there is literally a new golf course to try around every corner . Its not wonder that go lf is the highest participation sport for New Zealanders , for both men and women .The People highly take part in the golf tournaments The golf business on the peak of its success In last few years Asian population in New Zealand is increasing day by day . As an entrepreneur wants to establish a golf business in New Zealand then One can use different retailing business strategies to run a golf business effectively an a right way . There are many retailing management approaches which Can be differentiate by using the Mckinseyà ¢Ã¢â€š ¬Ã¢â€ž ¢s 7 à ¢Ã¢â€š ¬Ã‹Å"Sà ¢Ã¢â€š ¬Ã¢â€ž ¢ Model for the ownership models : The seven Mckinsley model is identified as : Strategy à ¢Ã¢â€š ¬Ã¢â‚¬Å"The plans to make strategies and giving advises to people to compete with Structure à ¢Ã¢â€š ¬Ã¢â‚¬Å" Making a good sturucture of Systems à ¢Ã¢â€š ¬Ã¢â‚¬Å" The daily activities and process that staff members Involved in to get job Shared Values à ¢Ã¢ ‚ ¬Ã¢â‚¬Å" It is related to business culture . Style à ¢Ã¢â€š ¬Ã¢â‚¬Å" The person which styles used for maintaining leadership Staff à ¢Ã¢â€š ¬Ã¢â‚¬Å" The employees and their general capabilities Skills à ¢Ã¢â€š ¬Ã¢â‚¬Å" the actual skills are needed to run a golf business There are some questions which can bring more ideas about the Mckingsley 7 s framework Whatà ¢Ã¢â€š ¬Ã¢â€ž ¢s your strategy What is hierarchy How strong are the values As we all know that asian population is increasing day by day in New Zealand so establishing a golf business in New Zealand is effective and beneficial for a retailer and also for the golf lovers . Independents à ¢Ã¢â€š ¬Ã¢â‚¬Å" independent retailer is one who builds his business from the ground up . From the business planning the independent retail owner does it all . He may hire consultants , staff and others to assist in the business endeavour . A retailer is fully responsible of his busine ss is running in a right way or not. The retailer Is managing the independent store and has built the business from the ground up by assess all needs of the store which can include staff and merchandizing sales goods and services . Co-operatives This type of business is run collectively by its Staff members , who share the profits or benefits . And members are the owners Departmental stores à ¢Ã¢â€š ¬Ã¢â‚¬Å" It is a retail establishment with a building open to the public , offering a wide range of consumer products and goods . It typically allows shoppers to choose between multiple merchandise lines at variable price points , in different product categories known as departments . Department store usually sell a variety of products , including clothing , furniture , home appliances , toys , cosmetics , gardening , sporting goods , paint and hardware and additionally select other lines of product such as healthy fod , books , jew ellery , electronics stationary , photographic equipment , and in the departmental stores there are customer checkout near the front of the store or alternatively , sales counters within each department . Mail order à ¢Ã¢â€š ¬Ã¢â‚¬Å" It means if anyone order through mail then a retailer should fulfil there mail orders Its somewhat like a online marketing of a product. but not similar to the online shopping . One can order goods or products at just one click on the internet while sitting at home . In mail orders people spend money on the product to attract the customers with flashy advertisements and catalogues .they check the range, price of the product . After looking these things they order the products and pay for it online . If we want to place a golf business in New Zealand as an investor as we all know that golf is mostly played by the asian population in New Zealand which is increasing day by day we will choose the independent retailer ownership model The biggest advantage of establishing business as an independent retailer is that there are no restrictions on who , how or where an entrepreneur should set up his business . The freedom to do what one wants to do is the biggest advantage in this form of business . Independent is a business which is free from outside control . shared values à ¢Ã¢â€š ¬Ã¢â‚¬Å" The central premise behind creating a shared values is that the competitiveness of a golf store and the products are mutually depends on each other . Recognising and capitalising on these connections between societal . it includes business culture and ethics and give the mission statement means to clearly identify the mission of the golf course . skills à ¢Ã¢â€š ¬Ã¢â‚¬Å" The establishment of a golf business need skills like compete with the environment . And one should have the skills to run the golf business . An independent retailer is a person who is has a power to do anything in his field . The knowledge of staff is also important . style à ¢Ã¢â€š ¬Ã¢â‚¬Å" The leadership styles and quality is must in a person who is going to establishing a golf business Staff à ¢Ã¢â€š ¬Ã¢â‚¬Å" There can be two types of staff members one is general staff and the other is specialised staff . General staff is not trained by the experienced person they are not well trained . Specialised staff is hired by the golf manager in the retailing entrepreneurs . There are some hard elements in the golf business in this process one have to give the answers to the following questions that how the strategy can be implemented , how the store is structured . Strategy à ¢Ã¢â€š ¬Ã¢â‚¬Å" We will make new strategies and implement in our golf business . Its a good way to Building a competitive advantage over competitors . Structures à ¢Ã¢â€š ¬Ã¢â‚¬Å" Before establishing a golf business the most important factor is th at to see how the store is structured . The proper management of the store should be there and reporting System à ¢Ã¢â€š ¬Ã¢â‚¬Å" In the store daily activities should be handled by the manager . and if any problem occurs then he should try to resolve that problem as soon as possible .the tasks should be clearly identified to the store keepers . Evaluation of Strategic locations 1 Neighbourhood It is a geographically localised community with in a larger city , town , suburb or rural area . Establishing a golf business in local communities like neibourhood is a topographically confined group inside a big city , town ,suburb , or country zone .Neighbours are frequently social groups with significant golf association among parts . Specialists have not conceded to a definite definition . Neighbourhood spatially as a particular geo- graphic range and practically a a set of interpersonal organisations . Establishing a golf business in a location where shopping malls is not much profitable for the retail store . and Home shopping has also expired from the life of the golf lovers .Most of the people love to shop by visiting that particular store . Internet strategic method of locating a store is also changed the mentality of the people . If a golf store is established near the shopping malls one man can not play the game comfortably .people come to buy the household things . that area will be fully noisy than the neighbourhood area Impact of merchandising factors product range width, depth- Asian target market has more spending then the general market . The percentage ratio of business products would be made of high quality and top brands . 50 % of the asian people middle people ratio is 30 % and 20 % entry level . and the target asian market purchase products 60% and general domestic is 40 %They Get datas from department of statistics . Business plan half of our product should be of high quality . 25% of our product should be mid range and 25% of our product should be of entry level . Store layout à ¢Ã¢â€š ¬Ã¢â‚¬Å" Its clearly understood that layout means location, price positioning , regular purchase .All customers should leave the store with an intention to purchase something in near future . The window is the first thing which attract them they only see window supply is particularly speculator . Product display and point of sale- The primary motive of the retail store is to display products to sell them.They have great opportunity to guide that person into deed zone . The proper management of golf store is mainly important . The golf material should be set up properly . Here is a product and its displaying characteristics . the FPOS machine is also define the features of the product Reason to purchase à ¢Ã¢â€š ¬Ã¢â‚¬Å" There are two types of purchasing or we can say reason to purchase 1 C onsidered purchasing 2 impulse purchasing The investment should be done on purchasing baskets for shopping for the customers for that we need to increase doller spent and units purchase . Its very strong thing . The flow Of market and energy is needed to setting up a store . if we need to understand ourtarget audiencewe have to consider all these things . Point of sale and point of transaction Now a days technology and many other tools are used to get information quickly . For instance in a big retail store if one person demands a particular product then we can get information about the product at just one click all products , place and prices will be displayed by the computer . So gathering data information is very important . Establish a system that can track a data for us in the store .Loyality programmes has become a part of consumerism . The retailer Gather data on their customers because loyal customers are their best and regular customers . Promotions à ¢Ã¢â€š ¬Ã¢â‚¬Å" The golf retailer gives gift with purchase to the customers to feel them special or favourite customers . Also greet them with caps of their particular store or by doing this they are securing the loyality of the customers For instance they also give golf umbrella with their special logo on it . so that customer will keeps in mind about the products and services the store offers . Golf club day pass à ¢Ã¢â€š ¬Ã¢â‚¬Å"It means to say the customers that give your name address and phone number . We need to register you on the day pass . Members only tournament They organise some tournaments only for members of the golf clubs and it is necessary to participate Hole in one competition The retailer demand the BMW card of the customer to get them insured if they lost it then company will pay them . VIP exclusive nights à ¢Ã¢â€š ¬Ã¢â‚¬Å" The golf clubs also organise exclusive programmes The retail er spend 10% of their budget on advertising , reduce 5% on christamas , People never buy this kind of stuff . They can enhance staff wages and availability of stock in the golf course we need to figure out how much favourable and how much are more favourable to that particular product . The customers want to be treated as a special person a customer so the retailer shoud greet them with nice and glossy invitation cards . Here is a advertisement of the discounts or special offer in the retail store CONCLUSION à ¢Ã¢â€š ¬Ã¢â‚¬Å" After doing all the research on the golf store I came to the conclusion that independent retailer is a best recommended golf business in the locality . The advantages are no confinements on who , how or where a business person ought to set up his/her business The option to do what one needs to do is the greatest preference in this type of business . It can be amazingly satisfying. The disadvantages is because o f the simplicity and adaptability of beginning , there can be a tone of rivalry in a specific zone for a certain kind of client in a golf store . Each golf business choice rests on the owner . There is no marking , no preset rules and a lot of danger in this plan of action is invoved . Establishing a golf business in the neighbourhood is easier for the customer to buy a product near the store at home . these stores should be nearly lacated in busy area . REFRENCES 1Wikipedia,. (2014).McKinsey 7S Framework. Retrieved 13 November 2014, from https://en.wikipedia.org/wiki/McKinsey_7S_Framework 2 Smallbusiness.wa.gov.au,. (2014).Marketing Promotion Strategy. Retrieved 13 November 2014, from https://www.smallbusiness.wa.gov.au/marketing-promotion-strategy/ 3 Learnmarketing.net,. (2014).Product Mix and Objectives: Product Lines, Product Width and Product Stretching. Retrieved 13 November 2014, from https://www.learnmarketing.net/productobjectives.htm 4 Tripadvisor.com,. (2014).Golf course in the neighbourhood Picture of Zevenhuizen-Moerkapelle, South Holland Province TripAdvisor. Retrieved 13 November 2014, from 5 https://www.tripadvisor.com/LocationPhotoDirectLink-g1778109-i102959786-Zevenhuizen_Moerkapelle_South_Holland_Province.html IANZ-DBRM701 Strategic Retailing Enterprise and Management Research Outcome 1 by Renu Page 1 Don’t waste time! Our writers will create an original "Retail Management Assignment" essay for you Create order