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Geospatial Applications and Research Lab (GRAC) Invited Speaker Address

Geospatial Applications and Research Lab (GRAC) Invited Speaker Address . David A. Bradbard & Barbara K. Fuller Winthrop University Auburn Alabama April 1, 2011. Comparative Analysis of Merchandising Strategies for Best Buy Stores in Charlotte, NC Using Geodemographic Analysis.

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Geospatial Applications and Research Lab (GRAC) Invited Speaker Address

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  1. Geospatial Applications and Research Lab (GRAC) Invited Speaker Address David A. Bradbard & Barbara K. Fuller Winthrop University Auburn Alabama April 1, 2011

  2. Comparative Analysis of Merchandising Strategies for Best Buy Stores in Charlotte, NC Using Geodemographic Analysis

  3. Best Buy Market Segments The Affluent Professional – Barry The Focused, Active Younger Male Customer – Buzz The Suburban Soccer Mom – Jill The Small Business Customer – BB4B The Family Man – Ray

  4. Alabama Median HH Income

  5. Auburn Best Buy Three Mile Radius

  6. Birmingham Best Buy Three Mile Radius

  7. Prattville Best Buy Three Mile Radius

  8. Hoover Best Buy Three Mile Radius

  9. Alabaster Best Buy Three Mile Radius

  10. Tuscaloosa Best Buy Three Mile Radius

  11. Best Buy Project • Customer Segmentation • Demographic Characteristics • Psychographic/Community Tapestry Information – • Segments outlined in your Community Tapestry Segmentation Report • Customer Behavior Information • Retail Expenditure and Media Usage • Team decision on market segment • Barry, Jill, Buzz, Ray or a combination and justification for decision.

  12. Using Mediamark Research Inc (MRI) Data Using data from Community Tapestry and MRI you can produce specialized reports for each trade area.  MRI conducts surveys to how individuals purchase/use various products and services. MRI provides index scores to show whether people are more or less likely to purchase/service than the average US household. A score of 110 indicates a household is 10 percent more likely to purchase/use a particular product or service.  In this project, students will look at spending characteristics in six areas: Appliances, Camera & Film, Electronics, Internet, Telephones/Services, and Video/DVD.

  13. Best Buy Store StrategyBased on Segmentation Data Re-engineer the customer experience addressing the specific needs within the segment. • Preferred product assortment – based on the retail expenditure report you should create charts (excel charts, graphs, etc.)using your index number to justify your merchandise choices • Preferred store layout – this could provide layouts of the store, depth and breadth of merchandise assortment, and justification on placement of merchandise • Tailored Services – Using the information from the appendix of your case on customer-centric service, outline the type, extent, and quality of customer service required for you segment. Be sure to refer to your market segment needs and differentiate their needs from the other Best Buy segments. • How does your strategy fit within Best Buy’s overall brand strategy?

  14. Merchandising Options at Best Buy Stores

  15. Marketing Strategy for Promotion of the Store Locally • Using the Marketing Strategy Report which identifies what media your market segment listens to, watches and reads, develop a local promotion plan to reach your target audience (market segment). •  Discuss why you chose the specific media, why you think the ones you have chosen will be more effective than other types of media. Use the information that you obtain in your market strategies report and if feasible create charts/graphics that back up your recommendations.

  16. Blakeney Mid Town CT Data for Two Best Buy Stores

  17. Understanding Your Target Customer Blakeney Mid Town

  18. Best Buy Stores in Charlotte Area

  19. Competition in Mecklenburg County

  20. Competition in Mecklenburg County

  21. Competition in the Uptown Location

  22. ESRI Community Tapestry http://www.esri.com/library/brochures/pdfs/tapestry-segmentation.pdf

  23. Community Tapestry: Trendsetters

  24. Focus on Uptown Area: Trendsetters

  25. Uptown Tapestry Report Segment 22: Metropolitans Segment 23: Trendsetters Segment 27: Metro Renters Segment 65: Security Set

  26. Community Tapestry: Green Acres

  27. Green Acres in Concord Mills and Kannapolis

  28. Concord Mills Tapestry Report Segment 17: Green Acres

  29. Blakeney Store Overlay on Income Barry - Affluent Professional Market Segment

  30. Blakeney Store Tapestry Segment Segment 4: Boomburbs

  31. The Artist’s Collection

  32. The Artist’s Collection San Francisco, CA Charlotte, NC

  33. The Artist’s Collection Madison Smith is a potential new business owner that has proposed opening, The Artist’s Collection, a retail store featuring a variety of handmade goods, ranging from women’s jewelry to one-or-a-kind pieces of art and is looking for a location in Charlotte.

  34. The Artist’s Collection Site Selection Leasable Retail Space

  35. Leasable Property Reports Business Proximity (Competition) Recent Construction Proximity Demographic Report Public Transportation

  36. Business Proximity (Competition) 18 Jewelry Stores

  37. Demographic Report

  38. Public Transportation Report

  39. Rubrics for the Artist’s Collection Oral Presentation Written Paper Letter to Owner Comparison Chart Location Checklist Trade Area Analysis References Appendix • Organization • Presentation • Audience • Visuals

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