Building Successful Retail Strategies - A Case Study of 'Coupon Stores'

Abstract

The article uses the definition of retail strategy to include Retail Mix and examines the case of "The Coupon Store" in Bangalore from the point of view of the retail mix. The Marketing mix for retail stores includes products, pricing, placement, promotion, process, people and physical evidence. These have been studied individually and as a component of the retail strategy for the coupon store. A profile of 'Coupon' describes the background, motivation, and rationale for the store, apart from describing the location, target audience and other general aspects. A section of competition describes the environment in which the store operates.The elements of the retail marketing mix of 'coupon' were studied first as to what 'coupon' was doing on these aspects. Next, the various components of the retail strategy were looked at from point of view of retail strategy and if they were all coordinated. All departments, promotional tools used, merchandise brands and such factors were examined to understand the integrated strategy being used by 'Coupon'. Many specific examples of the various elements of the retail strategy used at 'Coupon', including photographs and lists have been included in the present paper. The case provides a detailed analysis of the various elements and reflects the complexity and need for an integrated approach to retail strategy building blocks.