Soon Young (2005) has researched on the global marketing strategies being employed in theUSretail market. “The study analyzes the global strategies of Wal-Mart, Home Depot, Kroger, Target, and Sears based on the concept of generic strategic options. Overall, the study found that globalization is not the answer for all retailers.” (Soon Young, 2005) The research highlights that globalization is not meant for all retailers, and globalization marketing strategy only be undertaken if it is consistent with the companies strategies goals and objectives.
Solder (1976) on the other hand provides that retail stores are increasingly tailoring the marketing strategies specific to their major customer groups. Niche marketing enables them to increases loyalty amongst customers and the customer awareness about the retail company. The retail companies have also started to employ co branding strategies (Wright et al., 2007) which enables them to promote the brand of the supplier as well as the retail company brand amongst the consumer. Doyle & Cook (1980) analyze theUKretail industry and key developments that have resulted in significant change sin the operating environment for retailers in theUKas well as the international market. The authors provide successful and unsuccessful retailing strategies for promotions and market positioning of the retailer.
All the above mentioned studies research the retail industry from different points of view. This dissertation however aims to study the retail industry form the point of view of successful marketing strategies being employed by the companies, and how the strategies can be adjusted to the business environment of UTC Plc in Nigeria.
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