Retail Management A Strategic Approach 13th Global edition Barry Berman, Joel R. Evans, Patrali Chatterjee - Solutions

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 customer segments noted in this case are most important for a convenience store? Explain your answer.
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 think is still hot. Do some research to prove that this retailer is still hot.Cite one retailer
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 effectively?What is your favorite example of a retailer that has become more convenient in recent
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 would you address the rise of Hispanics in the United States?What are the implications of Figure 1
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 statement: “It’s easier to do multichannel, but that creates silos and doesn’t extend to
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 (https://jet.com). Do you think it will succeed? Why or why not?4. Describe what you think are Best Buy’s
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 (https://jet.com). Do you think it will succeed? Why or why not?4. Describe what you think are Best Buy’s
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 the retail categories described in this case?4. What are the pros and cons of Signet’s mix 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 information in Figures 1 and 2. What are the strategic implications?4. What could Dunkin’ Donuts,
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. Should retailers have a chief of digital operations position? Explain your answer.4. Do you agree or
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 customer services? Why does this distinction matter?3. What are the ethical implications of the
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 a great total retail experience and relationship retailing?4. Even if a retailer is not ready for
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. Upscale orientation.
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 use them?
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 used.c. Outside, new.
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 suggest to them?
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?
If you were a retail store manager, what steps might you take to empower your workers?
How would you describe the minimum expectations of an employee that are fundamental to their job satisfaction? Explain your answers.
Distinguish between straight salary and straight commission, identifying the pros and cons of each form of compensation.
In a retail environment, how would you distinguish between pre-training and on-boarding? Why are they both necessary?
What is the purpose of the document derived from the process of job analysis?
Explain why the owners of a shopping mall would want to achieve a balanced tenancy. What are the limitations of an overly planned shopping center?
Why might it be advantageous for a competing fuel station to open across the road to an existing one?
Outline the typical stores that you are likely to find in a neighborhood business district, and explain why.
From the retailer’s perspective, what are the key disadvantages of locating in a secondary business district?
A convenience store chain has had some success in choosing locations in unplanned business districts of smaller cities. Explain the four variants of these districts.
A fast-food brand is contemplating trading area saturation before committing to locate in several cities in an overseas market. What should it consider?
Visit the Web site of the Department of Singapore Statistics (http://www.singstat.gov.sg) and look up the population trends for 2016. As a retailer, where would you find information to help you determine ideal locations?
Why is it critical for a retailer to examine a location’s economic base in its decision to open a store?
Computerized trading-area models like Reilly’s Law offer significant advantages to retailers. These models are objective and consider all of the factors in a systematic manner. Retailers can use a model to screen those locations and shortlist them. Explain the relationship between the law of
Compare the analog and regression models of assessing new locations.
If a retailer has a new 10-year store lease, does this mean the next time it studies the characteristics of its trading area should be 5 years from now? Explain your answer.
Cite the benefit of each primary data method: survey, observation, experiment, and simulation.
One application of data mining is micromarketing. What is micromarketing, and how might a retailer use it?
In database management, a retailer gathers, integrates, applies, and stores information related to specific subject areas. Outline how this should be carried out. What are the information sources? Provide detailed examples.
What information could a retailer supply to other channel members?
What information does a customer actually demand from a retailer?
Why is gathering and analyzing information crucial to a retailer that is launching a new strategy or modifying an existing one?
Why is it valuable for retailers to understand the complexity of the standard-of-living concept?
Sacla is a global Italian food brand (http://www.sacla.com/). Visit its Web site and identify its target market strategy.
Some retailers engage in differentiated marketing by having distinctively separated brands to cater for different customer targets. Give local examples and explain why this is necessary.
Outline how a retailer could maximize the tendency for many consumers to buy impulsively.
The consumer decision process can be either short and decisive or long and involved, depending on the product or service and the involvement of the retailer. Outline this process and illustrate it with an example of a short decision process and a longer one.
Identify the product categories with high cross-shopping. What is the reason for this?
How could a self-service frozen yogurt chain use the U.S. population data presented in Table 7 2?
Why is reliability one of the four major concerns for retailers’ Web sites?
What is database retailing, and how does it work? Explain how a retailer makes use of the database.
List all of the variations and versions of direct marketing.
Direct marketing may be advantageous to sellers, but what are the key advantages of this type of relationship for consumers? Why might they choose it?
Do you think that nonstore retailing is gaining traction in your own country? Explain your answer.
Contrast omnichannel and multi-channel retailing. What do you think are the advantages of each?

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Retail Management A Strategic Approach 13th Global edition Barry Berman, Joel R. Evans, Patrali Chatterjee - Solutions

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