Retail Project

Retail Project - Web Exercise Part I An Overview of Strategic Retail Management Exercise 1-3 Competitive Analysis As the manager for a McDonalds

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Web Exercise Part I : “An Overview of Strategic Retail Management” Exercise 1-3 Competitive Analysis As the manager for a McDonald’s near my campus, there are many different factors that need to be taken in to consideration about the surrounding competition. Such factors would include who is my competition, where are my competitors located, what promotional tactics do my competitors currently have in place, and what strengths and weaknesses do my competitors have. The last question being what do I recommend my McDonald’s after I complete my analysis of the competition. The first question of finding out who my competitors are, I have discovered that the list of my competitors on campus include: Jack in the Box, Whataburger, Sonic, Wendy’s, and Burger King. The second question of where they are located places Jack in the Box at 343 N LBJ Drive, Whataburger at 4040 Hwy 123, Sonic at 802 S. Guadalupe Street, Wendy’s at 701 E. Hopkins Street, and Burger King at 1011 N IH 35. Some current promotions that are being run by these locations all include a Dollar Menu, and both Jack in the Box and Whataburger stay open 24 hours, also Sonic promotes a “Happy Hour” on their drinks as well as a brown bag special. The largest threat McDonald’s has would be Jack in the Box. Their major strengths of low prices are very similar to McDonald’s, they are located right next to campus, and as mentioned earlier they are open 24 hours. Their weakness is the lack of parking available, and being positioned on the corner of a one way street. In order to capture market shares in the campus area, I would recommend that McDonalds adopts some of the promotions offered by our competition, offering a set time where customers would be able to receive an exceptionally good value. In addition to this promotion, I would also like the executives to strongly consider contacting Texas State University in regards 1
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to obtaining an on-campus location at the Student Center. If McDonalds was located on campus, it would eliminate the majority of competitors from students traveling on foot. 2
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Web Exercise Part II : “Situation Analysis” Exercise: 2-1 Retail Start-Up Center 5 Most important lessons learned from “How to Open a Retail Store” 1. Regardless of the type of retail business you want to start, you cannot ignore the Internet 2. Personality, motivations, your strengths and weaknesses, money, and experience should be at the top of your checklist. 3. Most successful small businesses provide something attractive or advantageous by taking what's already there and developing some innovative features 4. Although a great location may not guarantee success, a bad location will almost always guarantee failure 5. Your selection of merchandise is what will set you apart from other stores. Given the Urban Evolution, companies are trying to promote an image of being more
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This note was uploaded on 02/12/2010 for the course MKT 3355 taught by Professor Ruth during the Spring '10 term at Texas State.

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Retail Project - Web Exercise Part I An Overview of Strategic Retail Management Exercise 1-3 Competitive Analysis As the manager for a McDonalds

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