Ho we have one project we have submission today for that it is on a spare part shop the name of ahop is Hercules auto parts. The question we have to answer is Part 3 Summary Retailing - Final Project a) Summarize your retailer's primary strengths and weaknesses and support your assessment. b) What are their biggest challenges now and in the future? c) How are they preparing to meet those challenges? d) What do they view as their opportunities for the future? e) What do you think the future holds for this retailer? f) If you were hired as the CEO, what specific strategies would you pursue in the future for this retailer? g) What opportunities would you capitalize on? Why? Im also adding all small parts that i made before for this project as reference Part 1 that i already submitted Current situation of hercules parts: . Herculeus parts a supermarket well arrangement in Quebec, Canada. Where your quest for auto parts can wind up. Having a wide scope, everything being equal, , this store is becoming a standout amongst other auto parts store in Canada. With a moderate item reach and accessibility of the items, this is turning out to be best option for all living immediately from their folks and individuals who are living alone for their positions How effective is the selected store: Being one of the best spare parts store, it is effective enough to invest the time and money on expansion of the brand . Though we need to run some of the campaigns in regards of reaching to the best set of audience. Need to create a website for the same before launching it to any other part of the world. What would you do differently? On the need premise, we need to get a site produced for a superior reach. When the site will be done we would then be able to deal with the conveyances. There will be a programmed choice to add the items to the truck and get them conveyed to your doorstep. .. Location you selected: I have selected sydney as the new location in australia. The reason for the same are: Raw material can be acquired easily We can easily get the target audience we are looking for. High rate of employment in near about areas. Increasing demand for online deliveries Is the location ideal? As per the research I have done, this location is ideal and best for our store. The reasons are somewhere in terms of the environment, an ease to deliver quickly. Being busy people are looking for some online delivery alternatives so we can target that particular set of audience. Part 2 of project that i already submitted a ) Who are the retailers ' competitors ( both direct and indirect ) ? - The direct competitors would be Sears and Home Depot . While indirect would be other auto parts stores like C & C Auto Parts, Autobell etc. b ) How does your retailer compare to these competitors in terms of its size, market dominance/ share, sales, profitability, etc.? Compared to these competitors , we are a small company . Although there are many stores out there that sell the same products as us , however they cannot provide you with all of your needs because of their budget and limited options They know this is a downfall so they compensate by charging you more for each product to make up the difference in price . We , however , do not charge more than what a product is actually worth because we are a smaller company . We provide you with all of your needs and want at the same time without compromising on prices so that we can continue to give you the best quality products forever . c ) What is your retailer's competitive strength ? - Although we are a small company , we strive to be the best by offering all goods customers want within our budget without compromising on quality and price . We provide them with all the options in order to make better decisions on what is best for them . We guarantee a fair and mutually beneficial relationship between us because we want to keep our loyal customer base . d ) How do your competitors try to compete ? - Our competitors try to compete with us by compromising on pricing and quality . They know they cannot offer customers all of your needs in one store and that's why they charge more for their products in order to make up the difference ; they will not admit that they have a downfall . e ) Are there strategies that have not worked for them ? - It is hard to say because we are a small company and they are very popular however , one thing we try not to do would be to make the same mistake that other larger companies have made . We realized that it was important for us to focus on our customers instead of focusing on competition . We first focused on getting our name out there and making our brand as best and reliable as we can . If we would have focused on our competition before getting to this point then they would easily be able to take us down. f ) What retailers have they identified as competitive threats? Why? -As mentioned above , Sears and Home Depot are considered to be some of the biggest competitors because they have a variety of products that other stores do not have . Also because they are very popular in their respective markets which makes them even more difficult to compete with. Explanation : a ) Target Audience - Who is their target audience ? ( describe demographically and psychographic ally , if possible ) The age group is 30-50 years . They are spread globally. B) How does this compare to the competition ? The competition is below the expectation of our customers . So we are always at a higher level to achieve their fulfillment. c ) What image do they want to convey ? The Canadian brands and quality is what they are known for across the globe. d ) How do they attempt to position themselves in min of consumers in the market ? They want to position themselves as the leading store with quality products and services. e ) What is their current image in the industry and in the minds of consumers ? A global retailer that provides products ad services in retail and wholesale. f ) Is this image working for them ? Not very much due to competition . The competitors that they are facing in their market are reaching a higher level than them. G) How does this compare with the image of competitors ? As mentioned above , Sears and Home Depot are considered to be some of the biggest competitors because they have a variety of products that other stores do not have . Also because they are very popular in their respective markets which makes them even more difficult to compete with h ) How do they make use of technology ( web and ecommerce , supply chain management , information systems , etc. ) ? The company has a website which accepts orders for products . Also there is an online chat option too . The company has a very high technology . It is making use of all the latest technologies . i ) How has technology affected the way they conduct business ? The company has a website which accepts orders for products . Also there is an online chat option too . The company has a very high technology . It is making use of all the latest technologies . j ) What is their global presence and strategy ? The retailer is present all over the globe through their online presence . Their tagline on their website states that they are always better than their competitors . This shows that they have a global presence. k ) What countries have they entered ? Currently in Canada L) How successful have they been expanding into these countries ? m ) What obstacles have they faced ? Lack of widespread brand understanding across the globe n ) What is their location strategy ? There are stores in prominent locations o ) Why have they chosen this strategy ? Convenience and its relevant with todays consumer p ) What is their approach to managing human resources ( if this info is available ) ? We need research for this part as well. Merchandising strategy a ) How they buy , what they buy , breadth vs depth of merchandise , etc. They have a variety of products available in their stores that are listed on their website . The products vary from clothing , electronics and home furnishings etc. b ) How is it reflected in their financial strategy ? They give special discounts on particular items c ) What is their pricing strategy and how does this affect their profitability ? Their prices are generally high , however they give special discounts to attract customers . They therefore increase their bottom lines . Also , I can say their pricing is Not influenced by competitors d ) Describe their approach to advertising and sales promotions . The retailer has an online chat option which shows that they have a friendly customer service . Also there are large banners and displays in the store with promotional deals and discounts on particular items . e ) Has it been effective for them ? It has been effective f ) What challenges does your retailer face in terms of the retail strategy variables just described ? The retailer faces challenges in terms of it's lack of widespread brand understanding across the globe . It requires a lot of work and time to understand the market need and meet the customer's needs . g ) Do some appear to be working better than others ? The chat option appears to be working well as there are a lot of questions being asked on the online chat . Also , people who have purchased products from this website can review them which helps in increasing brand image and customer satisfaction level. PLEASE SOLVE THIS. THANK YOU