- Developing the store formula: The right combination of creativity and process based development
During the Master Vision phase, you will determine how you can translate these developments into a successful strategy for the new store formula. It is extremely important in the interests of a successful Master Vision phase to establish which niche in the market you will be able to fill with the store formula. After all, the retail trade is almost always a market in which one business crowds another one out. When you market a new formula, therefore, you will almost always have to try to prise away your future customers from other providers.
Another important consideration is what new added value you eventually see as granting to the new formula the basic right to existence. Essentially this applies to both existing and new formulas. Newcomers in the market will also need to continuously prove their right of existence, and therefore their added value. However, where existing formulas are concerned, new developments should be such that existing customers will not feel alienated from the formula because the innovations are too drastic and unexpected. An evolutionary process of gradual change is often to be preferred to a too strong revolutionary process.
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