ULTIMATE RETAIL STORE

Ultimate Retail Store

Ultimate Retail Store

Mission and Vision of Ultimate Retail Store

This section discussed the aims and objectives of Ultimate retail store. The aims and objectives play an important role in the growth and development of a business. The vision and mission of Ultimate retail store has provided it with a competitive edge.

Vision of Ultimate Retail Store

The vision of Ultimate retail store is to craft an improved lifestyle society through forming intelligent, state-of-the-art and supportable living places so as to make the current lifestyle much easier, improved and at ease.

Mission of Ultimate Retail Store

Ultimate retail store is motivated on founding an unparalleled status for superiority and success by certifying that all the projects are at the stage of perfection. The mission encompasses the following outlined objectives:

Market Demographics

Globalization has also highlighted different demographic groups that were once considered less valuable than others. The rise of international trade has reduced the inequalities present between societies. As a result, different demographic groups including ethnic minorities and women have appeared on the surface. The opportunities provided by globalization have allowed these groups to demonstrate their strengths and capabilitiesThe target market of Ultimate retail store composed of young, affluent, and tech-savvy customers. Ultimate retail store clothes and accessories attracted the attention of a number of customers who needed a place a part from their home and office. Ultimate retail store positioned itself as a third place for its customers. The place becomes a preferred option of moms with strollers, and working professionals who needed a place to enjoy their clothes and accessories. The average age of customers who visit the place is forty. However, when the company expanded its target market, the average age becomes 36. Customers of Ultimate retail store include both male and female (www.skillsmartretail.com).

Environmental Scan

This section illustrates the environmental scan of Ultimate retail store. The company is a vertically-integrated brand of fashion clothing. Ultimate retail store is vertically-integrated since the brand controls its manufacturing and distribution. In addition to this, the company owns its own designers.

Political Environment

The political environment exerts a heavy influence on the business operations of a business. There are political factors that could hinder the progress of Ultimate retail store in the international market. The most important factor includes the intervention of the government in the economy. In a free market, Ultimate retail store could easily control and manage its retail operations (Salmon & Tordjman, 1989, pp: 3).

However, in countries, where the government interferes in the business operations, Ultimate retail store would need to invent effective strategies. Before expanding into an international market, the company must gather information about the key issues including the trade system of the country and the rules and regulations that control businesses (Abernathy et al, 2006).

Economic Environment

Economic environment exerts its influence in terms of interest rates, taxes, inflation, and exchange rates. In order for Ultimate retail store to operate successfully, it is imperative to be aware of GST, Tariffs, and Duties. In some countries, there are specific laws related ...