Questions and Answers of Retail Management

The retailer in problem 13 has planned retail reductions of $100,000. What is the initial markup?a. 33.0%b. 36.2%c. 41.0%d. 43.4%Data from problem 13A retailer has net annual sales of $3,000,000.
If the retailer in problem 13 has planned retail reductions of $200,000, what is the initial markup?a. 36.2%b. 39.1%c. 48.5%d. 63.0%Data from problem 13A retailer has net annual sales of $3,000,000.
A retailer buys merchandise for $20.00 per piece. Half is sold for $25.00 and half for $35.00. What is the maintained markup?a. 25.0%b. 33.3%c. 37.1%d. 42.8%
Reclining chairs are reduced from $250 to $200 each. Calculate the off-retail markdown percentage.a. 20%b. 25%c. 36%d. 60%
A home furnishings retailer has additional markups totaling $950 on a line of table lamps. Net sales of the lamps equal $8,000. Compute the additional markup percentage.a. 7.5%b. 8.1%c. 11.9%d. 16.1%
A home furnishings retailer plans to sell a lamp with a cost of $100 at an original retail price of $200. The firm expects to sell 200 lamps over the next year. How many units would the retailer have
Present a community relations program for a pharmacy chain.
Develop a checklist for a chain of large sporting goods stores to coordinate its promotional plan.
Exclusive channel distribution allows both parties to work together to maintain an image, assign shelf space, allot profits and costs, and advertise. It also usually requires that retailers limit
1. What overall conclusions do you draw from this case? Explain your answer.2. What is the biggest “disconnect” between retailers and their customers today? How could this be fixed?3. What could
1. Based on the information presented in this case, how would you describe Shake Shack’s retail image?2. How would you describe the store atmosphere that Shake Shack seeks to maintain?3. The
1. Present a five-item ethics code that a retailer could impose on its suppliers with regard to fake and counterfeit merchandise.2. As the buyer for a retail chain, what would you do if you found out
1. What are the three most important trends cited in this case? Explain your answer.2. To date, what are the three most accurate predictions cited in the case? Explain your answer.3. To date, what
1. How important are store locations in Food City’s overall retailing strategy? Explain your answer.2. Enumerate several criteria that Food City should consider when choosing a new location to open
1. What do all Millennials have in common? Is this good or bad for retailers? Why?2. What do you think is the most misunderstood aspect of the Millennial generation? Why?3. As a furniture retailer,
1. Differentiate between expendable and untouchable shopping. Why is this distinction important to retailers?2. As an independent jewelry retailer, what could you learn from Table 1? How should you
1. Relate the material in this case to the concept of the total retail experience.2. What uncontrollable factors will affect a retailer’s ability to undertake the suggestions cited in the case? How
1. Explain why the 2Es are so important for forward-looking retail planning.2. What’s the last retailer—physical store or online store— that excited you? Describe what excited you. Did this
1. What do you think about the methodology used to gather the data for this case? Explain your answer.2. “The first challenge is Differentiation and Relevance.” Why is this true for retailers of
1. For a deep discounter, should price be the only element of the retailer’s strategy that is promoted? Explain your answer. 2. In advertising prices, does Walmart have to enact the same
1. As an apparel retailer, would you be excited by utilizing eyeQ displays to tailor products to specific customers?2. As a one-way system— no questions are asked of shoppers— how accurate do you
1. How would you promote a proactive health-and-wellness theme as a drugstore chain?2. What does “transparency” mean with regard to the information provided by retailers? What grade would you
1. From a retailer perspective, how would you exhibit “simplicity” in an omnichannel world?2. From a consumer perspective, what does “simplicity” mean to you? Is it important? Explain your
1. What retailer activities are involved with a price optimization strategy?2. Why don’t more retailers use price optimization strategies?3. How does price optimization relate to the concept of
1. What are your overall conclusions about the information presented in this?2. Do the data highlighted in the case affect both suppliers and retailers? Explain your answer.3. Comment on the results
1. As a retail buyer, what criteria would you use in deciding whether your chain should carry the new Samsung Family Hub refrigerator?2. What kind of support would you require from Samsung with
Present a merchandising philosophy for this sporting goods retailer. Why do you think this retailer would prefer an inside buying organization, rather than an outside one?If this buyer position
1. What is the proper mix of humans and technology in preventing shrinkage losses?2. How would a small retailer’s theft avoidance strategy differ from that of a large strategy? Why?3. Develop an
1.Based on the information this case, what kind of career path would you expect an SMDO to have? Why?2. How could an SMDO have an impact on a retailer’s cash flow?3. How could an SMDO have an
1. Based on the information this case, what kind of career path would you expect an MTD to have? Why?2. Using Figure 11-4 as an example, present a similarly formatted job description for an MTD.3.
1. What are the pros and cons of delineating such a long list of specific activities for an ASM to perform?2. Why is ASM a good starting point for a retail career?3. What criteria would you use to
1. A new technology allows retailers to be sure the temperature in a delivery trailer is in the proper range for refrigerated or frozen food, and whether products can go on to the store, require more
What is the most surprising thing that you learned from reading this case? Explain your answer.What are the implications of this case for a U.S. retailer that wants to open in Europe?What are the
Comment on this statement: “AEO established a strategy based on what its road map would look like for the next 5 years.”Explain the concept of “channel-immune” distribution centers. How does
How is trading-area analysis different for a small store than a large store? Explain your answer.How should a food-delivery service such as Amazon Fresh define its trading area? Is it going to bigger
What is the TNS Shopper Universe? Why is it a valuable tool for retailers?Describe the consumer segments included as experience-driven.Describe the consumer segments included as task-driven.Which
What do hot retailers have in common? Explain your answer.Why do you believe that so many supermarkets and apparel stores seem to be hot retailers?Cite one retailer mentioned in this case that you
What is the convenience economy? Give your own examples.Is the convenience economy good or bad for retailers? Why?What would restaurants have to do to be able to use the Ritual app efficiently and
According to the information in the case, how are American demographics changing?As a supermarket retailer, how would you address the rise in U.S. single-person households?As a local gift shop, how
1. Why is omnichannel retailing a bigger challenge for food retailers than general merchandise retailers?2. Apply DyShaun Muhammad’s three key steps to your favorite supermarket.3. Comment on this
1. What must retailers that are the “favorites of today” do to remain popular?2. What criteria do you use in deciding on your favorite stores? Why?3. Take a look at the Jet Web site
1. What must retailers that are the “favorites of today” do to remain popular?2. What criteria do you use in deciding on your favorite stores? Why?3. Take a look at the Jet Web site
1. How can an independent retailer compete with power retailers?2. What is the greatest opportunity for each of the retail categories described in this case?3. What is the greatest threat for each of
1. How should the organizational missions of convenience stores and QSRs differ? Why?2. What are the competitive advantages of convenience stores versus QSRs? Explain your answer.3. Comment on the
1. Why do you think that there has been a proliferation of job titles? Is this good or bad? Why?2. State how the issues raised in this case relate to a retailer conducting a situation analysis.3.
1. Relate the material in this case to the value chain and the value delivery system.2. Are services related to physical accommodations typically considered as expected customer services or augmented
1. What do you think are the best uses of VR for retailers today? What are the limitations?2. Is the typical retailer ready for VR? Why or why not?3. How can VR enhance a firm’s ability to generate
How should management respond to the findings of an audit? What may happen if the findings are ignored?
Distinguish among these auditors. Under what circumstances would each be preferred?a. Outside auditorb. Company audit specialistc. Company department manager
Assess a country and region of your choice using the global retail development index.
What are the most commonly used performance measurements used by retailers to assess effectiveness? List five of them.
Some retailers use benchmarking through tools such as SERVQUAL. What are the five areas of performance measurement?
Develop a solution for a physical store to expand its digital offering in order to take advantage of new trends in customer research and purchase?
Today’s retailers look to the future, as they must deal with new strategic choices. What are the key areas they need to address, and why?
Develop sales promotions for each of the following:a. A nearby strip shopping center.b. A new restaurant.c. An upscale discount online furniture retailer.
How might a point-of-purchase promotion significantly contribute to retail sales?
Suggest the four main objectives that a retailer might choose when launching a sales promotion.
How do you distinguish between an order taker and an order getter?
What are the major advantages of public relations? Why is it used?
Retailers may have a wide variety of different advertising objectives. Suggest four options.
What are the four different elements of advertising? Are all of them appropriate to an average retailer in most markets?
Suggest some methods that a department store could employ to enhance the shopping experience of their customers. Why would these methods be suitable?
What is the purpose of experiential merchandising, and where would you see it?
Some online retailers are streamlining their checkouts. Why is this the case? What concerns do customers have about online checkouts?
Which stores should not use a straight traffic flow layout? Explain your answer.
How would a retailer develop a market-segment product grouping for their products and services?
A sandwich-and-snack store had a revenue of $66,798 in a week, of which 60 percent was profit. In that week, the retailer sold 9,822 individual items. What is the profit per unit?
Distinguish between market skimming and market penetration, and provide examples of each.
Which target markets of consumers are more likely to be price sensitive.
Comment on each of the following from the perspective of a large retailer as well as from the perspective of a smaller, single-outlet retailer.a. Discount orientation.b. At-the-market orientation.c.
How do you calculate the stock-to-sales ratio, and what does it mean?
How might an ice cream parlor use monthly sales index figures to predict demand for their products?
Why might a store selling power tools decide to use a special form of classification merchandising with price line classifications?
Compared with other techniques, there are several advantages to the retail method of accounting. What are they?
Cost-based physical and book systems have significant disadvantages. What are these disadvantages, and what steps might a retailer take to overcome them? Which types of retailer are more likely to
What are the two key disadvantages for a retailer opting to use a manual physical inventory system? Explain your answer.
A fast-food retailer rarely holds much stock, as their product lines and ingredients sell out fast. What are their options?
What type of retailer would tend to take advantage of an opportunistic buying situation?
Why is inspection and sampling necessary for some categories of products being supplied to a retailer?
To keep up with current trends and demands, a supermarket has to mix its merchandising sources. Suggest five product lines from each of the following categories.a. Company-owned.b. Outside, regularly
As a new retailer, how would you research the attributes of a specific supplier?
Suggest what would be included in the staple, basic, and assortment lists for a busy city-center coffee shop.
Global retailer Marks and Spencer runs a 12-to-18-month graduate merchandising program. Research it and suggest what the course content should be.
A chain of food stores across a country has decentralized buying. Is this a good idea?
Is cross-merchandising a good approach? Why or why not?
Explain how a retailer can make use of customer segmentation data.
Outline the key aspects of consumer-focused merchandising as far as it impacts on the retailer.
What does an outsourcer bring to the retailer in terms of advantages?
Explain how adopting an omnichannel system complicates the supply chain management of a retailer.
What are the key benefits to a retailer of installing modern electronic point-of-sale systems and linking them up to stock control, management, and re-ordering?
Explain the steps that a retailer might take in offering a customer a credit account.
What steps can a retailer take to minimize their insurance costs in relation to safety issues?
Present a brief operations blueprint for your college bookstore.
How can these retailers improve productivity?a. Fitness center.b. Online bookstore.c. Discount apparel store.
A chain of stores selling smartphones and desktop computers has noted that the divergence in technology has had a major impact on the customer base and sales. They need to reorganize. What would you
What kind of financial pressures can an LBO cause?
Retailers can have a range of assets. Identify the main categories with examples.
How can a retail store improve its overall gross profit margin?
A retailer wants to use a series of performance ratios to assess financial wealth.a. What is the quick ratio?b. What is the current ratio?c. What is the collection period?
What are net sales and cost of goods sold? What can be obtained by taking one figure from the other?

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