Retail Marketing And Management :Retail Operational Business Plan Assignment

Individual ‘Coursework’ Objective:

During the process of doing this coursework you should be able to transfer what is learnt in the classroom directly into creating a hypothetical retail ‘brick and mortar’ retail outlet in Norwich. The objective would be for you to explore the retail landscape of Norwich – the main primary and secondary shopping areas as shown below in Fig 1 and Fig 2, consider the possible gaps in the market, explain by means of analysis from primary and/or secondary research why catering for the gap would be profitable and how you would go about setting up a profitable business. It is expected that techniques and strategies discussed and learnt during the lectures, provided directed reading in the power point slides plus material added on Blackboard and some qualitative research will facilitate the student in reaching this objective.

Fig 1

Coursework Question:

Retail Operational Business Plan

Write a report that sets out an operational business plan for a new retail business in a retail sector selling goods of your own choosing (but specifically where products are purchased from suppliers and then re-sold and taken away by the public as usual is with a shop, i.e. with production and consumption not undertaken in the retailer’s establishment as in a services operation like a restaurant, café, hairdresser, etc.). This should be for a single store located in Norwich. The business concept should be original (i.e. not identical to an existing retailer or retail franchise in the UK or elsewhere). The focus of the report should be on the management aspects of the business (i.e. how it will operate). You will need to choose a store format for retailing products to consumers and your report should assess how operational design, merchandising strategy, pricing and marketing strategy, and supply chain management will contribute to the viability of your chosen business/format.

Assignment Requirements

• The assignment must be undertaken independently and must be your own original work.
• The report must not exceed 2,500 words. You must have a succinct executive summary which is NOT within the word count. Appendices, references/bibliography, title page, list of contents, tables and diagrams are all outside the word count. The word count must be stated at the end of the report. Your report must be typed and submitted electronically.
• Deadline for the submission is 16th May 2023. Your work will be marked and returned for you within 20 days.
• This coursework counts for 100% of the assessment in this module.

Guidelines for coursework

The purpose of the coursework is to give you the opportunity to apply concepts used in the module and that have been developed in your broader experience to develop an operational business plan for a retail outlet which is a going concern. In general, the coursework, amongst other things, should contain the following:

• A rationale for choosing the retail format (i.e. type of shop) and retail sector
• An explanation of the retail design (i.e. store format and look) you are going to use and where it will generally be located in Norwich (e.g. general area, street, retail park or other location), product range, plus demand and competitor analysis.
• Always ask this question
• : Is the business viable?
• A brief summary statement of the competitive environment and positioning of the company (including how it will be different to existing competitors and generate sufficient revenue to make a profit) and that accounts for the links and cohesion between operations, merchandising, pricing and marketing, and supply chain management
• Appropriate analysis to highlight and justify the operational, merchandising and supply chain decisions taken. Operational business plan covering store operations (including the 5S), pricing, merchandising, marketing, and supply chain management giving you the opportunity to apply concepts and learning from the module to develop a credible strategic plan for the retail business
• An explanation of the retail design (i.e. store format and look) you are going to use and where it will generally be located in Norwich (e.g. general area, street, retail park or other location)
• A brief summary of the competitive environment and positioning of the company (including how it will be different to existing competitors and generate sufficient revenue to make a profit).

Needs to be ‘Your Own Work’