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You need answers to :-
•What are main factors that create a potential threat to your retail operation?
•Which threats are most serious to your future retailing operation?
•What changes could take place that could threaten your business?
6.Priorities Your Actions
Having carried out a SWOT analysis on your business you now need to priorities your findings. You will need to make your decision bases on response you believe you will get from your team and their capabilities. You will also need to take into consideration your economic situation and your technical skills and abilities.
7.Consider Human Reaction to Change
How will your team respond to change and how will you measure their response. Consider whether you will need to involve your customers and how you will involve your team.
You probably need to do a professional selling approach when you address issues with your team.
8.Consider Your Financial Position
How will change effect your retail business? Why should change be made, will they reduce costs, increase profits or both and will increase your market share?
What are major indicators that financial decisions have to be made?
Do you have to resources to make economic changes?
9.Understand Technical Considerations
You need to evaluate how technical developments will enhance your business, especially as far as customers is concerned.
Do you have internal resources to deal with technical changes and does your team have knowledge and understanding to deal with changes.
10.Carry Out a Critical Examination o Main Areas you Plan to Change
A critical examination is where you critique each development change in detail. You must examine all information available to you and ask:
What When Where Who How and Why
It is critical that all aspects are examined.
When analysing change in your retail business you only need to look at internal aspects of your business, you also need to develop a Positioning Statement.
You need detailed, accurate answers to:
Out customer are__________ They come to us for__________ Because_________ We are better than__________for following reasons__________ Customers prefer us because_________
Ref Effective Marketing to Retail Environment Workshop UK
The above is an article from John Stanley’s best selling book Just About Everything a Retail Manager Needs to Know. John Stanley Associates produce an e-newsletter specific to retailing, this includes innovative ideas and advice to help you grow your profits. If you would like to receive a regular copy please visit www.johnstanley.cc or email us on email@example.com.