Translate trends into a successful strategy for the new store formula

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- Developing the store formula: The right combination of creativity and process based development

- The Discovery Phase: Discovery: Evolution or revolution? That is the question

The strategic phase: Mastervision

The JdV Concept Development Model consists of three phases. After you have completed the discovery phase, it is time to move on to the development phase, also called the Master Vision phase. During the discovery phase, we first defined your customers and their wishes and, subsequently, your store identity. You have studied the positioning of your current formula or looked for niches in the market for a new formula. Then you linked this to important developments and trends in the market.

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.

If you want to read the rest of this chapter for free, please send an e-mail to Maurice van der Kooij and mention which chapter you want to read.

This chapter is part of the book "the store manual" of Jos de Vries The Retail CompanyThe Store Manual (2005) Jos de Vries The Retail Company has been working his way through the marvels of the Retail world since twenty years. Since the Retail branch on its way to professionalism is developing and also scholarly interest was growing, there still wasn’t a manual.Jos de Vries The Retail Company has made a definite change in bringing out “The Store Manual” a must for every store.You can order this manual for € 35,00 (excl. Postage and Package)