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Retail Management A Strategic Approach 12th edition Barry R. Berman, Joel R. Evans - Solutions
On the basis of the chapter description of Target Corporation, present five suggestions that a new retailer should consider.
Explain the retailing concept. Apply it to your school's bookstore.
Define the term "total retail experience." Then describe a recent retail situation in which your expectations were surpassed and state why.
Differentiate between social responsibility and consumerism from the perspective of a retailer.
How would you deal with consumer concerns about privacy in their relationships with retailers?
What are the expected and augmented value chain elements for each of these retailers? a. Home Depot. b. Ikea. c. Local fruit-and-vegetable store.
Why should a retailer devote special attention to its core customers? How should it do so?
What is the connection between customer service and employee empowerment? Is employee empowerment always a good idea? Why or why not?
How would you measure the level of customer satisfaction with your favorite restaurant?
Devise a consumer loyalty program for Barnes & Noble.
What are the unique aspects of service retailing? Give an example of each.
What are the pros and cons of ATMs? As a retailer, would you want an ATM in your store? Why or why not?
Will the time come when most consumer purchases are made with self-scanners? Explain your answer.
When a consumer shops at an upscale apparel store, what factors determine whether the consumer feels that he or she got a fair value? How does the perception of value differ when that same consumer shops at a low-end apparel store?
Describe three unethical, but legal, acts on the part of retailers that you have encountered. How have you reacted in each case?
Why is it necessary to develop a thorough, well-integrated retail strategy? What could happen if a firm does not develop such a strategy?
Describe how a retailer can use fine-tuning in strategic planning.
How are the control and feedback phases of retail strategy planning interrelated? Give an example.
Should a catalog-based men's wear retailer use the strategic planning process differently from an Internet retailer? Why or why not?
How would situation analysis differ for a shoe store chain and an online shoe retailer?
What are the pros and cons of starting a new hair salon versus buying an existing one?
Develop a checklist to help a prospective service retailer choose the proper service category in which to operate. Include personal abilities, financial resources, and time demands.
Why do retailers frequently underestimate the financial and time requirements of a business?
Draw and explain a positioning map showing the kinds of retailers selling tablets such as the iPad and Kindle Fire.
Marsha Hill is the store manager at a camera shop. She has saved $100,000 and wants to open her own store. Devise an overall strategy for Marsha, including each of the controllable factors listed in Figure 3-9 in your answer.
A competing bicycle store has a better location than yours. It is in a modern shopping center with a lot of customer traffic. Your store is in an older neighborhood and requires customers to travel further to reach you. How could you use a merchandising, pricing, and communications strategy to
What are the characteristics of each of the ownership forms discussed in this chapter?
What are the pros and cons of Sherwin-Williams using dual marketing?
How could a small independent restaurant increase its channel power?
Would REI be as successful if it operates as a traditional chain? Explain your answer.
Do you believe that independent retailers will soon disappear from the retail landscape? Explain your answer.
How can an independent retailer overcome the problem of little computerization?
What difficulties might an independent encounter if it tries to expand into a chain?
What competitive advantages and disadvantages do regional chains have in comparison with national chains?
What are the similarities and differences between chains and franchising?
From the franchisee's perspective, under what circumstances would product/trademark franchising be advantageous? When would business format franchising be better?
Why would a supermarket want to lease space to an outside operator rather than run a business, such as dry cleaning, itself? What would be its risks in this approach?
Describe how a small shoe store could be a destination retailer.
What must the off-price chain do to succeed in the future?
Do you expect factory outlet stores to keep growing? Explain your answer.
Comment on the decision of many membership clubs to begin selling gasoline.
Explain the wheel of retailing. Is this theory applicable today? Why or why not?
Develop a high-end retail strategy mix for a toy store. Include location, operating procedures, goods/services offered, pricing tactics, and promotion methods.
How could these retailers' best apply scrambled merchandising? Explain your answers. a. Kay Jewelers b. 1-800 Flowers c. A local delicatessen d. Dunkin' Donuts
What strategic emphasis should be used by institutions in the growth stage of the retail life cycle compared with the emphasis by institutions in the maturity stage?
Contrast the strategy mixes of convenience stores, conventional supermarkets, food-based superstores, and warehouse stores. Is there room for each? Explain your answer.
Do you think U.S. combination stores (supercenters) will dominate grocery retailing? Why or why not?
What are the pros and cons of Sephora carrying more than 200 brands of personal care products?
Contrast the strategy mixes of specialty stores, traditional department stores, and full-line discount stores.
Contrast single-channel and multi-channel retailing. What do you think are the advantages of each?
From a retailer's perspective, what are the advantages and disadvantages of having a Web site?
What must retailers do to improve customer service on the Web?
What future role do you see for video kiosks? Why?
Do you think that non store retailing will continue to grow faster than store-based retailing? Explain your answer.
How would you increase a direct marketer's response rate from less than 1 percent of those receiving E-mail sales offers by the firm to 3 percent?
Explain the "30-day rule" for direct marketers.
What are the two main decisions to be made in the business definition stage of planning a direct marketing strategy?
How should CVS/pharmacy (www.cvs.com) handle consumer concerns about their privacy?
Differentiate between direct selling and direct marketing. What are the strengths and weaknesses of each?
Select a product not heavily sold through vending machines and present a brief plan for doing so.
From a consumer's perspective, what are the advantages and disadvantages of the World Wide Web?
Comment on this statement: "A competitive retail sector, facing an uncertain economic future, is being challenged by consumers to compete for their business. In this environment, only the fittest and those really listening to what their customers really want are likely to survive."
Contrast the mass market approach used by a supermarket with the concentrated marketing approach used by a fruit-and-vegetable store. What is the key to each firm succeeding?
Visit a nearby Radio Shack or look at its Web site (www.radioshack.com) and then describe its target market strategy.
Why is it worthwhile for retailers to understand the complexity of the standard-of-living concept?
Analyze the global population data from a retailing perspective.
How could a national auto parts chain use the U.S. population data presented?
Explain how a retailer selling expensive furniture could reduce the six types of perceived risk.
Why is it important for retailers to know the difference between needs and desires?
Why do some consumers engage in out shopping? What could be done to encourage them to shop closer to home?
Is cross-shopping good or bad for a retailer? Explain your answer.
Describe how the consumer decision process would operate for these goods and services. Include "what" and "where" in your answers: a smart phone, a lawn care service, and an everyday watch. Which elements of the decision process are most important to retailers in each instance? Explain your answers.
Differentiate among the three types of impulse purchases. Give an example of each.
Relate the information flows to a florist agency near your college or university.
Develop a 10-item semantic differential for a local hardware store to judge its image. Who should be surveyed? Why?
Why would a retailer use mystery shoppers rather than other forms of observation? Are there any instances when you would not recommend their use? Why or why not?
Why do you think that "virtual shopping" has not taken off faster as a research tool for retailers?
What would you recommend to guard against this comment? "Traditionally, retailers and suppliers just don't like to share supply-chain information with each other."
Can a retailer ever have too much information? Explain your answer.
How could a small retailer devise a retail information system?
Explain the relationship among the terms data warehouse, data mining, and micromarketing. How can F.Y.E (for your entertainment www.fye.com) apply these concepts?
What are the opportunities and potential problems with electronic data interchange (EDI) for a drugstore chain?
Cite the major advantages and disadvantages of secondary data.
As a casual dining restaurant owner, what kinds of secondary data would you use to learn more about your industry and consumer trends in leisure activities?
Describe the major disadvantage of each method of gathering primary data: survey, observation, experiment, and simulation.
"A poor location may be such a liability that even superior retailers cannot overcome it." Is it always true? Give examples.
Look at the most recent online edition of the American Community Survey (www.census.gov/acs/www) for the area in which your college is located. What retailing-related conclusions do you draw?
If a retail area is acknowledged to be "saturated," what does this signify for existing retailers? For prospective retailers considering this area?
How could a Web-based retailer determine the level of saturation for its product category? What should this retailer do to lessen the impact of the level of saturation it faces?
What is trading-area overlap? Are there any advantages to a chain retailer's having some overlap among its various stores? Why or why not?
Describe three ways in which a consumer electronics store chain could use geographic information systems (GIS) software in its trading-area analysis.
How could an off-campus store selling textbooks and supplies near a college campus determine its primary, secondary, and fringe trading areas? Why should the store obtain this information?
How could a parasite store increase the size of its trading area?
Explain Reilly's law. What are its advantages and disadvantages?
Use Huff's law to compute the probability of consumers' traveling from their homes to each of three shopping areas: square footage of selling space-Location 1, 15,000; Location 2, 20,000; Location 3, 25,000; travel time-to Location 1, 15 minutes; to Location 2, 21 minutes; to Location 3, 25
What are the major advantages and disadvantages of Census of Population data in delineating trading areas?
A cell-phone-service chain has decided to open outlets in a combination of isolated locations, unplanned business districts, and planned shopping centers. Comment on this strategy.
How do the parking needs for a fine restaurant, a computer repair store, and a luggage store differ?
Under what circumstances would it be more desirable for a retailer to buy or lease an existing facility rather than to build a new store?
What are the pros and cons of a straight lease versus a percentage lease for a prospective retail tenant? For the landlord?
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