...Retail Business Analysis Payless Shoesource, Inc is one of the largest foot wear retailers in the United States. I got all my shoes, before I was fifteen and bought my own shoes, from Payless Shoesource, Inc. This is one reason I thought of Payless to do this retail business analysis on. Payless has a large selection of shoes including children, women, and men shoes at reasonable prices. Payless Shoesource has a definite generic, and segmentation marketing strategy and this paper will analyze these marketing strategies. Segmentation Marketing Strategy A market is customers who want or need a product and has the means to buy the product. Segments are customers who have the same wants, needs, and desire the same product. The three man segments of the population are demographic, psychographic, and geographic. Demographic segments can include age, sex, income, occupation, education, race and ethnic origin. On entering a Payless shoe store you fugitively take a step back from all the women shoes and accessories. The target demographic is definitely women. Most shoe retailers target this group because women according to a “Consumer Reports publication the average American woman owns 17 pairs of shoes and spends around $49 per pair” (Douglas, 2011). Women also typically buy shoe for their kids and spouse. Another demographic segment Payless target is children this can be seen in the children theme shoes for instance Spiderman, and glitter shoes. They...
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...Unit 4: Understanding how a retail business maintains health and safety on its premises Task 3 Understand the employee’s responsibilities in reporting hazards and accidents that typically occur on the premises of a retail business The most common types of risks, hazards and accidents to staff and customers are: * Lifting and pushing - eg. Handling heavy or awkward sized objects * Slips/trips and falls - eg. Slipping on a wet surface or falling from a ladder * Machinery - eg. Using ladders, trolleys etc... * Occupational violence - eg. Abusive customers or dealing with robbers * Chemicals - eg. Using cleaning products * Electrical incidents * Poor housekeeping- eg. Products being left lying around Overall, slips/trips and falls or damage caused by manual handling/lifting remain the main culprits of injury in the retail workplace. It is important to try minimise risks, hazards and accidents in the workplace. This is easy. You can make sure you have good signage in your shop. Not just in the back of the shop warning of chemicals or how to dispose things but also in the front of house. As if you had had a spill of a substance on the floor there is a hazard that customers might not see it so you need to put up a sign to warn them ad work on minimising or getting rid of that hazard before an accident happens. It is equally important to report a hazard for the sake of employees and customers safety to reduce the risk of harm towards them. It...
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...PIGGLY WIGGLY : A SUPERMARKET FRANCHISING GIANT PIGGLY WIGGLY (WWW.PIGGLYWIGGLY.COM) is a franchisor with over 6000 supermarket units that span the southern states from Louisiana to north Carolina. In addition, Piggly Wiggly franchises about 20 stores in Wisconsin that are owned and operated by fresh brands (www.freshbrands.com) , a wholesalers that uses the fresh brands name. Any independent supermarket can become a Piggly Wiggly franchisee by signing a franchise agreement and paying a percentage as sales as a royalty. In 2002, progressive grocer honored Piggly Wiggly with an award of excellent, based on the firm’s successful marketing efforts for its franchisees. The company pays strict attention to such elements as developing specifications for store signs to assure a uniform image managing a private-label program, arranging for special purchases for its franchisees, planning special promotion, and so on. Piggly Wiggly provides extensive purchasing assistance for its franchises by arranging for both private-label and national-brand programs. Piggly Wiggly’s private-label program includes about 1000 products in more than 200 categories. The franchisor handles all of the management responsibilities for its private-label line, including setting product specifications, choosing suppliers, monitoring quality, and package design. Although Piggly Wiggly is owned by Fleming companies (www.fleming.com) , a major grocery wholesaler, its franchised store do not have to purchase...
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...Business Research as it Applies to Retail Business research is vital to retail business. Being an assistant store manager for Lowe’s Home Improvement means more than just managing people. Assistant store manager’s (ASMs) are responsible for increasing sales, merchandising and marketing of product, managing processes, and managing people. ASMs are also responsible for ensuring that we consistently and efficiently reduce payroll expenses while still creating a seamless and high-performance customer service atmosphere. In order to achieve all of these responsibilities and expectations, ASMs must practice business research processes and use business research to make informed decisions that are best for the company. Business research can be defined by nine steps. The first step is the purpose of the research must be defined clearly. Defining the purpose will help decipher what the actual reason is without any biased information present. Secondly, the research process must be detailed. The researcher should describe exactly what the purpose of the research is, what the researcher will look at, and what the desired outcome will be. Thirdly, once the research process is detailed, the researcher will then want to thoroughly plan the details of how he will perform the research and also how he will store the findings. Fourth, high ethical standards should be applied. Fifth, limitations should be openly revealed. A question to ask during this step is how do the actual outcomes...
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...A PROJECT REPORT ON OPPORTUNITY OF NON-FUEL SERVICES IN INDIA CERTIFICATE OF ORIGINALITY This is to certify that the project titled “Opportunity of non-fuel services in INDIA” is an original work of the student and is being submitted in fulfillment for the award of the Masters Degree in Business Administration of INDIRA GANDHI NATIONAL OPEN UNIVERSITY. This report has not been submitted to any other institution for the requirement of a course of study. SIGNATURE OF SUPERVISOR SIGNATURE OF THE STUDENT CERTIFICATE FROM THE GUIDE Material obtained from other sources has been duly acknowledged in the project report. Date: Signature of the Guide: Place: CERTIFICATE FROM THE LEARNER This is to declare that I have carried out this project work myself in part fulfillment of the MBA (Marketing) program of IGNOU. The work is original, has not been copied from anywhere else and has not been submitted to any other Institute for an award of any degree/diploma. Date: Signature: Place: ACKNOWLEDGEMENT A large number of individuals have contributed in preparation of the research report. I am thankful to all of them for their help, guidance and the support that I have received during my research work. I express deep...
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...1) What competitive business strategy do you recommend for Mountain Bank? I’d recommend a focus business strategy. In this case Mountain Bank should focus on its retail banking business line because, firstly, they already have a big share of the market and building on the competitive advantage that they have it would be easier to increase it, secondly, according to the case, they can leverage customers in retail banking to more profitable real estate and corporate business lines which would also increase profits. 2) Based on the universalistic approach and commitment strategy, what types of human resource practices do you recommend for Mountain Bank with respect to its tellers? As “customers’ experiences with tellers is the single most important driver of customer satisfaction”, I recommend the following types of human resource practices in job tasks, empowerment, communication, training, compensation, and staffing areas: broad job responsibilities, meaningful tasks, high levels of responsibility, building employee confidence, encouraging suggestions, extensive new employee training, formal training for everyone, pay for performance, very selective recruiting, and promotion of the best workers. 3) Which of the four human resource strategies do you recommend for Mountain Bank with respect to its tellers? Why? I recommend a committed expert HR strategy because it would be aligned with business strategy and because the job requires specialized skills such...
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...Kochhar Born On: November 17, 1961 Born In: Jodhpur, Rajasthan Career: MD, CEO, ICICI Bank In India's male dominated banking sphere, Chanda Kochhar carved a niche for herself. This was no easy task. In her career which extends to over three decades of experience, she remained strong willed and alert. Her determination to make it to the top only grew from year to year. Kochhar's career growth can be traced along with the expansion of the bank over the past several years. She never stuttered in her growth and was one of the few who kept up with the aggressive development run of ICICI bank. It was her sharp strategic planning which made the ICICI bank the 'Best Retail Bank in India' for five consecutive years. As per Forbes, It's no wonder then that she has been ranked 20th amongst the most powerful women in business and in the world. Read on to find out more about how Chanda Kochhar made it to the top of the corporate pile. Early Life Chanda Kochhar was born in Jodhpur in Rajasthan on November 17, 1961, but was raised in Jaipur in Rajasthan. She then joined Jai Hind College in Mumbai for a Bachelor of Arts degree. After completing her graduation in 1982, she pursued cost accountancy (ICWAI). Later, she did her Master's degree in management studies from the esteemed Jamnalal Bajaj Institute of Management Studies in Mumbai from where she received a Wockhardt Gold Medal for Excellence in Management Studies. In the same year, she won the J.N Bose gold medal for Cost Accountancy...
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...Abstract The retail banking industry in the United States has undergone intense change due to regulation since 2008. Retail banks are continually looking for ways to set themselves apart from their competition, as well as retain and grow their customer base. Banks now understand the value of building relationships with their customers and that they need to provide excellent customer service to them as a means of profitability and survival. Understanding the factors behind customer service and its effect on customer loyalty is an important issue for the retail banking industry. This brings up the question “Does customer service influence customer loyalty?” With that question in mind, the following review acknowledges the importance of customer service to customer loyalty and also looks at what factors influence loyalty. The examination takes a look at service and its quality, and the overall effect it has on customer satisfaction and customer loyalty. The findings conclude a direct association among customer service, service quality, customer satisfaction and consumer bank loyalty. Introduction It is generally agreed that the top 3 constructs of building loyalty are: customer service, service quality, and customer satisfaction. This is especially true in people centric service businesses such as retail banking. In today’s competitive business environment many banks are focusing their efforts on having a loyal customer base. Thus, the question arises, “Does customer...
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...Achievements 6 B. ANZ Vietnam 1. Location in Ho Chi Minh City 8 2. Local Network 9 3. Website 9 4. History Background 9 5. Key Milestones 10 6. Shareholders 11 7. Achievements 11 8. Strategy: Blueprint for Success 13 9. Products and Services 9.1. Institutional – Commercial Banking 14 a. Institutional Banking 14 b. Commercial Banking 15 9.2. Retail Banking 15 10. Customers 17 11. Organizational Chart 17 12. ANZ Share Priorities 2014 18 Chapter II: Working Diaries 1. Internship Activities 19 2. Activities and the Role of Credit Assessment to ANZ 20 3. Performance of Credit Assessment – Personal Loan 21 Chapter III: Conclusion 1. Assessment of the Internship 22 2. References 23 Acknowledgement Firstly I would like to thank Mr. Nguyen Huynh Phuoc An for giving me the opportunity to take the internship at ANZ. For me it was a unique and bettering experience to be a part of the institution for 3 months. After the internship, I was able to get a whole new actual abstract and vision about banking business which was previously attached to...
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...INTERNSHIP REPORT ON Retail Banking Activities of City Bank Ltd Gulshan Branch of the year 2009, Dhaka 1 INTERNSHIP REPORT ON Retail Banking Activities of City Bank Ltd Submitted to: Syeda Shaharbanu Shahbazi Ahmed Senior lecturer, BRAC Business School BRAC University, Dhaka Submitted by: Md.Mozahidul Islam ID: 05304077 Date of submission: 20th December, 2009 2 Letter of Transmittal December 20, 2009 Syeda Shaharbanu Shahbazi Ahmed Senior Lecturer BRAC Business School BRAC University, Dhaka Dear Madam, I am glad to submit my report on the topic as you have assigned me to prepare an internship report on retail banking activities of City Bank limited of Gulshan Branch as a partial requirement of the course Bus 400. Now I am looking forward for your kind appraisal regarding internship report. You would be glad to hear that I have given my best effort to prepare the report with relevant information that I have collected from City Bank Limited, Gulshan Branch and from other relevant sources during my internship program. I have the great pleasure to have the opportunity to study on “retail banking activities” of City Bank Ltd. It is meaningful to mention that the knowledge I have gathered during the internship period, will help me in practical field of professions. In spite of various inadequacies I have tried to cover all the relevant affairs. It is quite worthy to mention that without your kind hearted guidance and cooperation it would not be possible for...
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...Competitive Business Strategy for Mountain Bank Strategic Human Resource Management January 19, 2012 1. Discuss the strategies that Mountain Bank should implement to achieve a competitive advantage in the marketplace. When establishing a strategy, one would need to know what a strategy is in order to achieve that goal. A strategy is look at as being “a set of coordinated choices and actions” (Stewart & Brown, 2009, p.66). So to come up with a competitive business strategy, we would need to take a look at certain factors. This would determine what strategy or choice and action we would need to take in order to make the most of our resources in order to achieve a profit. We would need to take a look at the organization and take into consideration its strengths and weaknesses. We would need to take a look at what type customer we are actually serving and what their needs are. Last, we would need to take a look at our current resources and see if we would need to either add, subtract or manipulate and change in order achieve our goal. I think with Mountain Bank, I think our strength would be our capability to provide a personal touch with our tellers. If you look at the banks business demographics, Mountain Bank has 50% of the market on retail banking. That’s half of the banking business for that part of the United States. Mountain Bank would need to find a way to extend that type of service and customer touch to the other markets. I feel in order to...
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...Introduction 1. Banking industry and financial sector Within the global banking industry, financial sector is an important part of overall global economy and is primarily composed of banking institutions, money markets and financial brokers. This sector is considered as a vital component of developed economies such as the USA, UK, Switzerland and Japan. The definition of a retail bank as described by the banking industry is that it operates within the financial institutions offering services such as adjustable rate mortgages, financial derivatives, bank credit and debit cards, electronic banking etc. Theses organizations are also regulated and controlled by industrial standards’ legislation and regulations that should be adhered to, in order to successfully operate in the industry (Bennett Kottasz, 2012). However this sector, that plays a key role in economic integrations of countries (Winder, 2013), had recently shown signs of distress mainly due to uncontrolled lending and unwarranted risk-taking activities (Habib, 2013). In addition, there had been a lack of transparency. Incidents within last decade such as Lehman Brother collapse and financial meltdown of 2008, created lots of ambiguities in understanding banks risks from imitative trading and therefore unwillingness of any bank to trade or lend to any of the bank. In particular these incidents create an uncertain situation where it is difficult to speculate which particular financial organization might unexpectedly...
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...bank in the country. She also heads the Corporate Centre of ICICI Bank. Kochhar was born in Jodhpur, Rajasthan and raised in Jaipur, Rajasthan. She is an alumnus of St. Angela Sophia School, Jaipur. She then moved to Mumbai, where she joined Jai Hind College for a Bachelor of Arts degree. After graduating in 1982 she then pursued Cost Accountancy ICWAI, Later, she acquired the Masters Degree in Management Studies from Jamnalal Bajaj Institute of Management Studies, Mumbai. She received the Wockhardt Gold Medal for Excellence in Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy for highest marks in the same year.[3] Kochhar resides in Mumbai, and is married to Deepak Kochhar, a wind energy entrepreneur and her Business schoolmate. She has two children, a son and a daughter. She was excellent in studies. In 1984, Kochhar joined the Industrial Credit and Investment Corporation of India Ltd. (ICICI). as a management trainee after her Master's degree. In her early years in ICICI, she handled Project Appraisal and Monitoring and projects in various industries like Textile, Paper and Cement. In 1993, Kochhar was sent to ICICI bank as part of a core team to set the bank. She was promoted to Assistant General Manager in 1994 and then to Deputy General Manager in 1996. In 1996, Kochhar headed the newly formed Infrastructure Industry Group of ICICI, which aimed "to create dedicated industry expertise in the areas of Power, Telecom and Transportation". In 1998...
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...Is it necessary to combine Investment Banking and Commercial Banking? Separation of Retail Banking and Investment Banking was a hot topic with President Obama’s proposal in January 2010 regarding a ban on US Banks on retail banks from using their own funds in investments and limiting to invest their customer’s funds. This news made many to wonder whether the world is going back to replace Glass Steagall Act which was abolished in 1999.(BBC,21January2010) Glass-Steagall Act(GSA)commonly known as Banking Act 1933 made the investment banks and Commercial Banks to function separately in order to refrain Commercial Banks from greater in securities business activities. This Act prohibited Commercial Banks to underwrite securities to public while it prohibited Investment Banks to accept deposits from customers. (Investopedia,2003). Many argue that commercial banks should not involve in securities(stock/bond)market investments as commercial banks divert funds in investment banking. In other words internal transparency of movements of funds not very clear when operating as a ‘Universal Bank’. Prior to 2007-2009 financial crisis Commercial Banks were greedily involved merely because of profits in securitization business where subprime mortgages were involved. During the rise in property market in 2006,banks created and traded in securitized assets, backed by subprime mortgages. Banks became greedy of making more money through SPV(Special Purpose Vehicle)taking high risks. When...
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...Assignment One Aisha Peake HRM 530 Dr. Reeley Strayer University January 15, 2012 1. What competitive business strategy do you recommend for Mountain Bank? Retail banking is the branch of banking that includes checking and savings accounts. These are what most people associate with banking. Mountain Bank holds about 50 percent of the retail portion of the banking industry. According to recent studies conducted, Mountain Bank's tellers are an essential part of this success. This is mainly due to the fact that bank teller's are the only part of the banking system that the general public sees. For a banking customer, the experience with a teller can make or break the decision to switch banks. To ensure that they continue to hold such a large portion of the retail banking industry, Mountain Bank will need to develop a business-level competitive strategy. "Business level strategies detail actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets. Business-level strategy is concerned with a firm's position in an industry, relative to competitors" (Azriel, 1999). This strategy is favored over a corporate-level strategy because it will focus on how Mountain Bank will compete with other banks offering the same services. Of the two main business level strategies, the differentiation strategy is what Mountain Bank should implement. The differentiation strategy...
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