Trophy Store Marketing Strategy

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There are some key decisive factors in evaluating the opportunities when venturing into any market. My retail business is going to sell a product to the public. This product is going to be trophies and awards. The type of retail store would be a trophy store. My retail store would be a multi-channel retailer. I would sell goods via catalogue, store, and internet. By being a multichannel retailer, I am able to reap all the different benefits from the different channels of sales. Also each channel offers a different shopping experience to the customer. Selling merchandise in stores allows the customer to browse, touch and feel merchandise. It also allows for cash payments, transactions provide instant gratification to buyers and sellers. It…show more content…
The location must reinforce the retail strategy. There is a specific target market for my items because when consumers shop for these items they are specialty shopping, they know what they want. You cannot buy a trophy in any store; it is known you have to go to a specific trophy store to do so. This being the case, customers are retailer loyal and will pay a premium to get what they want. My location for my store would be in Staten Island on the South Shore. I chose this location because there are many schools and sports organizations in Staten Island and there are no trophy stores on this side of the island. Though it is a specialty item and people will go far to get it, if there was a retailer closer with the needed merchandise, consumers would go to the closer store. Any competition is located on the other side of the island. The South Shore is the upscale side of the island. They would rather stay in their area then go shop in a lower income area. Some of the trophy stores on the other side of the island are located by project buildings. When determining location, there are legal considerations to keep in mind. Legal considerations that affect the location include zoning issues, building codes, signs and licensing

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