Woodrings Floral Gardens Essay

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Retail Strategy Analysis



In the retail environment, the importance of an effective strategy cannot be overemphasized. Given the inherently competitive nature of the retail space, a retailer must ensure a clearly defined target market, a robust operational strategy, a strong positioning strategy, sustainable competitive advantages, and proper retail mix (Bhatia 121-143). This paper provides a strategy analysis of Woodrings Floral Gardens (Woodrings), a company that retails floral gifts to customers within the State College area, Pennsylvania. Following a brief overview of the company, the analysis specifically pays attention to the company's operations, target market, positioning strategy, competitive advantages, and retail mix considerations.

Company Background



With more than four decades in operation, Woodrings retails floral gifts to individuals and organizations within the State College area. The company is family owned and operated, and offers flowers for a wide array of occasions, including birthdays, anniversaries, baby showers, weddings, funerals, Valentine's Day, Mother's Day, Father's Day, Secretaries Week, Thanksgiving Day, Independence Day, Labor Day, Christmas, New Year, as well as corporate functions. Also, the company retails floral gifts for customers wishing to express love and romance, gratitude, and sympathy. In addition to flowers, the company offers greeting cards, candles, gift baskets, fruit baskets, home plants, floral decorations, and floral arrangements. Committed to quality and service excellence, Woodrings is one of the most popular floral shops in State College.

Operations



Located in Allen Street, Woodrings offers floral gifts from as low as $45 to as high as $150. The store is open on Mondays through Saturdays from 9.00 am to 6.00 pm. The store is closed on Sundays as well as major holidays such as Independence Day, Labor Day, Memorial Day, Easter, Mother's Day, Father's Day, Thanksgiving Day, Christmas Day, and New Year's Day. Though some customers may wish for extended store hours, especially those that come from work late, the store's operating hours are arguably convenient for majority of the company's target market.



Though the company mainly relies on a brick-and-mortar model, there is an option for online retailing. Through the company's website, customers can place orders and pay using a number of options such as VISA, MasterCard, Discover, and American Express. Deliveries are made within and beyond the State College area. The company charges an extra $9.95 for local deliveries, while charges for deliveries beyond the local area vary depending on factors such as distance. Combining the traditional retail model and the online retail model can be viewed as one of the major strengths of the store. In today's world, online retail is increasingly becoming popular, with consumers ever more desiring the convenience of home or office delivery (Jain 151). For retailers, online retail provides an opportunity to target an even larger market.

Target Market



Success in the retail environment requires comprehensive understanding of the company's target market. A company must understand the geographic, demographic, behavioral, and psychographic attributes of its target market (Bhatia 144-155).
This knowledge provides a basis for formulating the overall business strategy, the operational strategy, and the marketing strategy. Woodrings primarily targets customers within the State College area. With a population of more than 40,000 people, State College is the largest designated municipality in Pennsylvania, providing a considerable market for floral products. Demographically, the company targets middle- to high-income individuals and families -- male, female, diverse age groups, all races, educated, working class, retired, and so forth. The company also targets organizations within the State College area. Behaviorally, the company targets first-time buyers, repeat buyers, and gift enthusiasts. From a psychographic perspective, the company targets individuals fond of expressing their emotions through floral gifts. On the whole, Woodrings mainly targets the middle- to high-income consumer within the State College area wishing to express affection, romance, appreciation, and compassion through floral gifts.

Positioning



Positioning is essentially about the image consumers have in mind about a particular brand, product, or service. It is about how a company differentiates itself from the competition -- the uniqueness of its products or services (Zentes, Morschett and Schramm-Klein 179). Effective positioning helps a retailer gain an important competitive advantage in the marketplace. Indeed, with many retailers in the market offering similar merchandise, effective positioning enables a retailer to have a competitive edge over its rivals.



Woodrings positions itself as the preferred provider of floral gifts in State College. The company differentiates itself from the competition by offering upscale floral gifts targeted to affluent, fashionable, and affectionate individuals. The company's products feature high quality, stylish arrangements, and considerable personalization. For the company, this is essential for appealing to the emotions of its customers. In addition, with its breathtaking floral gallery, the store offers an unforgettable shopping experience.

Competitive Advantage



As a floral retailer, Woodrings has developed a number of competitive advantages. First, the store offers a wide variety of floral products. Whether it is a birthday or a "Thank You" card, the store has flowers for virtually every occasion. For a floral shop, the ability to accommodate the diverse floral needs of customers is a crucial source of competitive advantage. Indeed, it is not uncommon for some floral shops to not stock floral gifts for certain occasions or moments. This is not the case with Woodrings. The store's competitive advantage further stems from its comparatively affordable prices, which, as mentioned earlier, range from $45-150. The store's attractive price points, in large part, explain why the store is arguably the most….....

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Works Cited

Bhatia, S.C. Retail management. New Delhi: Atlantic Publishers, 2008.

Jain, Neelesh. Retail management: a realistic approach. New Delhi: Global India Publications, 2008.

Zentes, Joachim, Dirk Morschett and Hanna Schramm-Klein. Strategic retail management: text and international cases. 2nd edition. New York: Springer, 2011.

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