 As you all know that our last topic of discussion was retail value chain so now we are going to discuss what are the different aspects of value oriented retail strategy normally we call it VORS. So the value oriented retail strategy has three aspects which we are going to discuss one by one. The first one is expected, the second one is augmented and the third one is potential. So let us discuss all these three points one by one. First of all our points are expected value points so they are actually minimum value chain points which a customer is expecting from a particular retail store or retailer. Now let me give you one example of it. For example sometimes it happens that you go to a store and there is some minimum expectation from that store like the cleaning environment, the cleanliness of the store, the lighting of the store, music inside the store, the air conditioning of that particular store, the store's assortment, the store's pricing, so what are the minimum expectations by a customer all of them are addressed in this minimum expected value chain elements. So normally when the customer's basic expectations are not met then the customer's dissatisfaction is normally done and if these expectations meet then it means that a customer is satisfied as a customer and again and again of course it becomes a repeat customer. If I give you an example which is mentioned here which is related to a young woman that is entering into a retail store normally the price point is a mid-level price point because its expectation is from a store. Similarly, apart from this what other points can be mentioned here, again the point of cleanliness is mentioned here. Here it is related to the timing of the store, the education of the staff, let's say skilled staff, informed staff, they know well about their products, they know well about their stores, they know well about their department, what things are there, what pricing is there, what features are there, these are the basic points, basic main expectations of the customer with a retailer. Now we come to our second point which is augmented points, what is augmented basically these are the value chain points, these are the elements which the customer is actually expiring extra, means there are extra elements which are somehow provided to the customer in a store or a retailer normally provides to the customer or a customer in general, such things are expected on top with a retail store. We have a lot of examples, first of all we have exclusive brands, if you go to a retail store like this and the retail store has its own brand, let's say an example of a hyper star in Pakistan, they have their own brand in the name of first, in the name of CSD, in the name of CSD Gap, in the name of utility store, in the name of utility stores, in the name of okay, and maybe in addition to this, in the name of a different brand, in the name of food, in the name of fine life, so these are different own brands which are of that particular brand, of that particular retailer's own brand, so this is one of the augmented element, in the same way we have it with regards to loyalty cards, in this way if you style it, if you eat it, so you will find the loyalty cards, or you will find the point cards, these are the ones which the customer has to engage with, now these are not expectations of the normal customer, but they are considered to be the augmented points, augmented value chain points, in the same way delivery is one of the factors, in the same way personal services is one of the factors, so these are all major points which are considered as augmented value chain points, and for the customer, if you give it to the customer, the customer considers it to be an extra benefit, an extra advantage, for himself and for a retailer a good connectivity is created with the customer, after this if we talk about the third point then those are potential value chain elements, these are the normally points, these are the normally elements which give you competitive advantage over your competition, and generally they are not being followed by the competitor, i.e. acceptability or the following of that particular elements are less with the competition, in this way if we talk about return policies, refund policies, which normally if you have replacement policies, installation facilities these are different types of points, which normally are, and customer in general these points are on top and normally competition is not doing much, in today's days delivery concept is the same, delivery concept is drawn through delivery, and in addition to this, the customer's logistics facilities are free, so these are the facilities again, these are the points which are considered as potential value chain element points, here some other points too, for example 24x7 concept, stores are available 24x7 and again this is considered to be one of the key points, so I have discussed three aspects, which reflect the value oriented retail strategy to VORS, in which we have discussed some points which are expected value chain points, some are augmented, and the third are potential points, so what we have to do with a retailer, we have to keep all these three aspects in front of us, and then we have to design our retail strategy, we have to follow it, implement it, and wherever we need to review it, we have to correct it, adjust it, and again implement it, and that will create a good success story for him.