Retail Marketing Strategy

Go to Course: https://www.coursera.org/learn/wharton-retail-marketing-strategy

Introduction

### Course Review: Retail Marketing Strategy on Coursera In the wake of Covid-19, the retail landscape has experienced transformative changes that demand a fresh perspective on marketing strategies. For those seeking to navigate this evolving environment, the **Retail Marketing Strategy** course offered by Coursera is an essential tool for modern marketers. Taught by the esteemed Professor Barbara Kahn, this course dives deep into how to switch from a product-focused approach to a customer-focused strategy, a transition that is critical for consumer engagement in today's market. #### Course Overview The **Retail Marketing Strategy** course is laid out in four comprehensive modules, each designed to equip participants with the skills and insights necessary to succeed in a rapidly changing retail environment. Let's break down what each module offers: **Module 1: How Covid-19 has Accelerated the Move from Product-focused to Customer-Focused Marketing Strategy** This introductory module sets the stage for understanding the drastic shifts in shopper behavior due to the pandemic. By examining the "retail apocalypse" and the resultant changes in consumer expectations, students will gain a solid grounding in omni-channel responses and customer service evolution. The focus here is on creating customer value that drives competitive advantage—an essential principle for any successful retail operation. **Module 2: Kahn Retailing Success Strategy** In this module, participants will study the strategies employed by leading retailers like Amazon, Walmart, and Target. The Kahn Retail Success Matrix will serve as a practical tool for analyzing these retail giants and understanding how they leverage technology to enhance customer journeys. By discussing luxury brand strategies and cultural influences, this module enriches the learner's ability to think critically about retail strategy. **Module 3: Importance of Customer Experience/Shopper-tainment** Exploring the omnichannel retail experience, this module emphasizes the significance of innovate practices in both digital and physical shopping environments. Additionally, it identifies key trends in the emerging "New Retail" landscape, particularly in culturally nuanced markets like China. With this knowledge, students can better understand global retail dynamics and the importance of delivering exceptional customer experiences. **Module 4: Changes in Branding: What Makes a Brand Great?** Here, the discussion shifts to brand strategy. Participants will explore the essence of branding and assess how societal factors drive purposeful branding. The module underscores the need for brands to align with social causes, a practice that has gained traction particularly in response to changing consumer behavior post-pandemic. By the end of this module, learners will be equipped to articulate the revolutionary changes affecting brand strategy in the retail sector. ### Recommendation I highly recommend the **Retail Marketing Strategy** course for anyone looking to deepen their understanding of retail marketing in the current climate. Whether you are a marketing professional, a business student, or a retailer looking to refine your strategies, this course offers vital insights that can lead to tangible results. Professor Barbara Kahn's extensive knowledge and engaging teaching style make complex subjects accessible and relevant. The course balances theoretical knowledge with practical insights, ensuring that learners can implement what they have learned directly within their own organizations. In conclusion, as the retail world continues to evolve, staying informed and adaptable is crucial. The **Retail Marketing Strategy** course is not just an academic endeavor; it’s an investment in your professional future that can help you navigate, contribute to, and succeed in the rapidly changing retail environment post-Covid-19. Don’t miss the opportunity to better understand this dynamic field and enhance your marketing strategy toolkit!

Syllabus

Module 1: How Covid-19 has Accelerated the Move from Product-focused to Customer-Focused Marketing Strategy

In this module, you will observe changes in the retail industry that have occurred in recent years. You'll start by examining the "retail apocalypse" of 2017 and then review how COVID-19 has transformed consumer behaviors in retail. You will assess retailer response in omni-channel spaces with regards to customer service and brand loyalty. By the end of this module, you will be able to relate these concepts in a way that both increases customer value and creates a superior competitive advantage.

In this module, you will identify retail strategies adopted by major retailers such as Amazon, Walmart, and Target. You'll utilize the Kahn Retail Success Matrix to analyze the competitive advantages among these retailers and discuss the importance of growth mindset within the retail industry. You will also assess differences in approaches used by luxury brand retailers and how culture factors into their success. By the end of this module, you'll be better able to leverage technology to reduce friction in a customer's shopping journey.

In this module, you will continue to explore the value of omnichannel retail strategy. You'll examine the importance of innovation in online/offline spaces and will identify specific examples of successful use cases in both digitally native and legacy brand retail spaces. You will also identify trends in "New Retail" by identifying the culture-specific expectations of consumers in China. By the end of this module, you will be able to identify key global trends in retail.

In this module, you will examine brand strategy. You will answer the question "What is a brand" by exploring the formal, conceptual, and realistic definitions. You will review the ways in which consumers have driven many organizations to adopt a purposeful branding and will assess specific examples how organizations align themselves with social causes of brand strategy. By the end of this module, you'll be better able to assess how the pandemic, and consumer behavior as a result, has driven revolutionary changes in the future of brand strategy.