In approximately 2500 words, write an extensively researched paper on the importance of strategic positioning in retail.
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When firms envision their future positions in their respective markets and segments, relative to their competitors, and given estimates of economic, technological, and competitive developments, firms envision their strategic position. It stands to reason, then, that firms which are best able to envision the future and thereby plan for ‘correct’ strategic positions are firms most likely to survive and flourish, relative to firms with poor strategic positioning and the necessarily mistaken planning thereby entailed. This paper examines the role of strategic positioning in the retail sector, with focus on the segment- and potentially economy-disrupting potential of online retail as represented by Amazon. The base thesis argued for here is the relatively uncontroversial proposition that, as epitomized by the precipitous—and stunning—failure of Circuit City (among many others), mistaken or absent strategic positioning tends to create a short, straight line to red ink, layoffs, bankruptcy, and liquidation. The more complex point suggested here, however, is that, particularly in the case of U.S. retail and its dynamics in the coming years, projecting and achieving optimal strategic positioning may be far easier stated than executed. In fact, as will become clear, firms will have no choice but to grapple with the perils of commonly held notions on the present and future of retail as well as with existential threats posed by the behemoths of retail.
Strategic Positioning – Importance, Complexities, Perils
One way in which both the importance and complexity of strategic positioning may be understood is by way of the methods used by firms and researchers to study market/segment position relative to competition. The Strategic Position and Action Evaluation (SPACE) matrix method (Gurbuz, 2013) is one such method, and takes into account a firm’s financial strength...
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