I would like to develop the retail concept of category specialist. In present scenario numerous brands are focusing on developing supermarkets, departmental stores and specialty stores etc. I find that these markets keep only common brands. They ignore special items that serve needs of specific niche market. Category specialist stores are focused on one specific category and provide a wide range of brands and assortments in this category. These stores provide products at very competitive price. The category specialist concept will serve needs of all class of consumers.
The category of product, I want to sell is perfume and cosmetics and the Reason to select this category is that these products are need of every person. Every one uses cosmetic products according to their requirement. Retail store will provide a wide range of cosmetics including all variety like skin care products, hair products, eye makeup, lip colors, nail paints, foundations, baby products, bathing products, Spa products, Ayurvedic products such as hair oils, massage oils and soaps etc. All the latest launched products will be made available at the store.
The retail store will target every class and all age groups of people. The need of consumers varies from class to class and age to age. The store will have all brand products from lower segment to luxury high end brands. Lower middle class is price sensitive whereas affluent class looks for high quality. To meet the needs of lower segment, the store will have brands like L’Oreal, Maybelline, Revlon, Cover Girl, Rimmel, Olay, Vivo, Max Factor, Une, Barbara Daly, Barry M, Natio, F & F makeup etc. on the other hand for the higher end segment store will have brands like YSL, Mac, Dior, Clinic, Elizabeth Arden, Channel, Bobbi Brown, Calvin Klein, Lancôme, Benefit, Laura Mercier, Estee Lauder etc. the store will also have baby products to fulfill the need of mothers and baby at one place.
Initially the store will be opened in large popular market place in the city. After opening one store the response of consumers will be recorded along with their profile. This information will be analyzed to make further plans for opening more outlets at different desired locations. We have to ensure an easily accessible location as the store will serve to all class of consumers.
The store will be positioned as “one stop shop for all cosmetic needs”. It is very important to promote the store through right mediums and right message to make people aware about the new retail concept. It is also important to communicate one single message from all communication mediums for effective positioning. For our store the message will be “Store will provide all variety of cosmetics from daily make-up to party make-up, for all age and all class of people”. The same message will be communicated through all marketing communication channels.
While designing the store it is very important to have attractive ambience and a proper space management system in place. All the brands and products should be clearly visible. It is also required to have a clear demarcation between high end brands and low end brands to avoid confusion and for the comfort of consumers. A large percentage of customers buy both type of brands but consumers who prefer luxury, always expect a special treatment. If we provide a excellent experience to customers with the help of ambience and good service at competitive price, our store will definitely be a successful store.
"Management Study Guide." managementstudyguide. 13 February 2012