Will be uploaded later Essay Example | Topics and Well Written Essays - 2000 words

Will be uploaded later - Essay Example This has improved the consumer research process used by manufacturers. The article selected for analysis concerns Skagen. Skagen is a US cross-border company, which deals with accessories brand particularly wristwatch brand, handbags, jewellery, and other durable personal disposals. The selected article concerns Skagen’s endeavours of seeking expansion into the UK retail market. The author of the article is Mark Lewis. Lewis posted the article in Financial Times on February 17, 2013. The reason for choosing the article is that the author highlights critical aspects that I will use to review various theories in retail development, theories of retailing, and principles of retailing. Most authors have begun focusing on retail marketing from a theoretical angle. There is no single theory which is universally acceptable or applicable. The applicability of each theory differs from one market to another. The variations are brought about by the different socioeconomic conditions and the maturity level of the market. These theories basically revolve around laying emphasis on the importance of establishing a viable competitive advantage and developing investments that are within an organization’s capabilities. Varley (2005) notes that for these theories to be effectively implemented strategic plans must be set up by the retail organizations to identify market signals and opportunities that occur dynamically. The theories are environmental, cyclical, and conflictual. The article recommends that Skagen’s strategy of expansion should be based on quality product rather than brand exposure. In the contemporary market arena, customers have shifted bases of their purchase decision-making from price or brand popularity to specific attributes of the product that meet their requirements. Charles Darwin’s theory on natural selection or the survival for the fittest can also define this theory. Retail organizations are economic entities that deal