Sales Retail Strategy

Read the following article about the many ways to increase sales: Ware, L. (2017, April 24). Get your customers off the “discount drug,” boost profits and maintain margins with these creative retail sales ideas. (Links to an external site.) CCG Retail Marketing Blog.  You have just been hired by a waning retail brand, ABC 123 Toys Inc., to assist in rejuvenating and restoring the lackluster sales that have plagued the firm. Develop a retail strategy that focuses on all the items you’d address to help boost sales. Conduct a situation analysis. What are the areas of opportunities for the retailer and what threatens to adversely impact it? Using the 4Ps as a guide, make sure to address the following: What product or services changes will you implement? Discuss product innovation or customer service enhancement. Define the pricing strategy and notate new pricing objectives and price adjustments. Detail current retail distribution (i.e., exclusively online, brick and mortar location, etc.) and discuss a refined distribution strategy. Include examples of new advertising and promotional sale campaigns that will bolster profits. Which primary consumer groups will these ads reach? Develop a brief social media campaign in which these ads will appear. Your assessment must adhere to the following expectations: Be 8-10 pages in length, not including the title or reference pages Integrate concepts, terms, and theories from the readings and module content Include at least five academic references to support your work, including one peer-reviewed article