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Product pricing and strategies
Product pricing and strategies
Product pricing and strategies
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Payless ShoeSource’ is one of the largest family footwear retailers in the Western Hemisphere. In Canada itself, Payless has approximately 296 stores, more than seventy stores in Ontario and five in Hamilton. Payless Shoesource is very widespread with its distribution through retail; therefore they do not have a specific area of concentration. Although, Payless Shoesource only opens their stores where there is a large number of population and its’ target market in its surroundings. One is most likely to see ‘Payless Shoesource’ in a location where there is a traffic flow, public transportation, accessibility, and a fit with other stores alongside. The four major locations you will spot a ‘Payless Shoesource’ location are:
• Regional shopping centres which are located in the suburban area with anchor stores, as well as up to 150 well known stores;
• Community shopping centre, which consists of only one primary store, plus 20 to 40 smaller ones;
• Strip locations which consist of a cluster of stores and are located within a 5 to 10 minute drive;
• Power centres are a variation of the strip centre, except power centres have huge strips with multiple anchor stores
Corporate Structure
Payless ShoeSource was founded in Topeka, Kansas in 1956 by two brothers, Shaol and Louis Pozez; which was first owned by Collective Brands Inc. Payless ShoeSource has a global network of stores that all operate under ‘Collective Brands Inc.’ as franchisees. Today, Payless helps millions of consumers through its strong network of global stores in all of the United States, Puerto Rico, Central America, the U.S Virgin Islands, Saipan, and Guam. The corporation has also begun to put its efforts towards the Eastern Hemisphere through franchising. There ...
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... carries consists of diverse categories of shoes: i.e. dress, work and safety, casual, skate, loafers, character, uniform, etc. This gives the consumer the advantage of finding all types of shoes he or she may need or want to buy in one store within an affordable price range. Apart from the large variety of brands Payless carries, the store also carries a variation in the height of the shoe heels. The heel heights vary from 1 inch to 4 ½ inches; this opens up options to the consumers depending on what height they prefer their heel to be. Furthermore, each shoe has a different width size and everyone has their own preference, therefore Payless offers three type of widths in regards to their footwear: regular, wide, and width. In addition, the store offers a huge variety in colour when it comes to their footwear and accessories; they have colours from ivory to multi.
The Italian Centre Shop shows many attributes as for how they are able to build on their strengths. This in the end helps a company to expand and grow further to improve their internal performance and as well by gaining more consumers (Kerin, et al., 2015). Firstly, the company’s main strength relies on the location of the different branches, being placed strategically so it is easier to bring in more consumers as well as being easily accessible for people around those areas. Two of the three locations in Edmonton are situated beside shopping centers, Southgate mall and West Edmonton mall, which in the West end is the most popular attraction of the city. The third branch is located in North Edmonton which is known for the heart of “Little Italy”(Spinelli, 2016). Secondly, the Italian Centre Shop sells a variety of merchandise and different cuisine from all around the world, the main place being Italy and others which include: Spain, Romania, Portugal, Ukraine and Poland (Spinelli, 2016). This helps to expand the company’s target market while still keeping
The company first needs to collect demographic and geographic information relevant to potential store location choices in order to segment its market. It is extremely important that the marketing team gather thorough information in order to ensure they are focusing efforts in areas where the company’s products will be best received. This will help them in achieving maximum sales.
Trader Joe’s also followed the statement into the cost leadership strategy that they do not set up a large shopping center area, instead of a place less than 10000 square feet which carry less items than normal market. It shows that, people would rather like to shopping in the area with less items because it can save their time of finding the products and consideration of buying products.
...ositive cash flow,” and “redeploying excess cash.” Foot Locker is well known for the uniforms worn by their employees, they're striped with black and white, looking like a referee's uniform. This company has about 44,110 employees employed. The current CEO is Ken C. Hicks. If you were to buy a stock on the NYSE (New York Stock Exchange) from Foot Locker it would cost $43.13.
Presenting a variety of services, the company has established the supercenter model. Vendors and suppliers for Meijer have to meet requirements that need to be quality checked and supply a third party audit report on product and facilities. They keep a tight control on which they purchase merchandise from, and by offering grocery items next to pet supplies, leading to housewares, clothing, sports equipment, toys, electronics, and health items, all selections are included in the retail environment and available with a smooth transition through the establishment. The one place to shop locally for your needs, earn rewards and help local community is the vision Meijer looks for in every store
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Place: They opened discount factory outlet stores in rural areas and retail stores in urban shopping center. By selling different kind of product in different places help them to meet the different need of the customers. On the other hand, they also sell their product online, where customer can purchase their product at anywhere and anytime. All this make them be able to maximize their gain.
The survey offers insight into shopper partiality toward each store identifying the general attitude for the respondents toward each shopping area. Survey results were captured through a telephone based survey of 150 local residents conducted by the Archimedes Group, Indiana, PA (Weiers, 2008).
Place (channels of distribution), refers to the point of sale (POS). The method of which a product is assessable to the consumer is a crucial part in the distribution of goods. Retailers pay top dollar for prime real-estate, one of the most popular saying in business is “location, location, location”. Location is key in the retail market and Victoria’s Secret understands that very well, they offer a number of outlets for consumers to reach their products; they have a number of physical store locations both inside and outside of the mall and centrally located to consumers, including overseas and in a number of countries throughout the world, offer online shopping for the millennial and convenience shopping as well as via catalogue (mail order). There is great utilization in all outlets for distribution of the product line; Victoria’s Secret ensures high engagement of its consumers in all outlets by offering special sales and promotions significant to the specific outlet. By doing this they appeal to each market
Woolworths has distribution centres in different geographical places in Australia. Products manufactured from different suppliers driven into distribution centre in the specified state or province. According to the ordering data, these products are assembled and distributed from distribution centres and moved forward to the prescribed retail stores.
...act, Langham Place is not alone. There are more and more shopping mall operates their business in the same manner as Langham Place. Though these shopping centres tried to make breakthrough using different methods, it seems that impressions of these shopping malls are blurred in eyes of public. Since these shopping malls are usually invested by large-scaled enterprises with great powers, merchants without resources to apply different tactics like these large-scaled shopping mall, will one day be eliminated. Those survivors will become copies of one another. As Shoppers' Paradise famous for selling products with different characteristics, if similar shopping malls are seen everywhere and merchants with distinguishing feature disappears, Hong Kong will soon lose its competitiveness among tourists. Resent among society may also arise and raise different social problems.
From selling purely ladies’ footwear, Charles and Keith expanded their range of products to include ladies’ bags and accessories in order to cater different demands of the customers. Charles and Keith owns a team of designers that come out with new products regularly and the company has their own R&D team frequently travels to fashion cities to get in touch with the latest design and trend (Singapore Press Holdings, 2009).
Shopping is a function of location product assortment and store image (Bucklin, 1967) which explain quite well why do people shop where the shop. All of those theories seems to complement each other, adding some more complexity to this highly complex