Retailing Management 9th Edition Levy, Weitz - Solutions

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Identify the factors retailers consider when pricing their merchandise. LO14-2
Examine how and why retailers take markdowns. LO14-3
Identify the pricing techniques retailers use to increase sales and profits. LO14-4
Indicate the legal and ethical issues retailers should consider when setting prices. LO14-5
What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low-pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other? Explain your response. LO14-4
Why would sewing pattern manufacturers like Simplicity(www.simplicity.com/patterns/) ask $12.95 (or more) on each pattern and then two times a year offer patterns for sale at $1.99 each? How could this markdown influence demand, sales, and profits? LO14-4
What is the difference between bundled pricing and multiple-unit pricing? LO14-4
A department store’s maintained markup is 38 percent, reductions are$560, and net sales are $28,000. What’s the initial markup percentage? LO14-4
Maintained markup is 39 percent, net sales are $52,000, and reductions are $2,500. What are the gross margin in dollars and the initial markup as a percentage? Explain why initial markup is greater than maintained markup. LO14-4
The cost of a product is $150, markup is 50 percent, and markdown is 30 percent. What’s the final selling price? LO14-4
Orvis purchased black leather belts for $25.99 each and priced these accessories to sell for $59.99 each. What was the markup on the belts? LO14-4
Answer the following questions: LO14-4a. J.Crew is planning a new line of jackets for fall. It plans to sell the jackets for $100. It is having the jackets produced in the Dominican Republic. Although J.Crew does not own the factory, its product development and design costs are $400,000. The total
Identify retailing activities.LO 1-1
Realize the importance of retailing in the U.S. and world economies.LO 1-2
Analyze the changing retail industry.LO 1-3
Recognize the opportunities for you in retailing. LO 1-4
Understand the strategic retail management decision process.LO 1-5
How do retailers add value to the products bought by consumers? LO 1-4
What is your favorite retailer? Why do you like this retailer? LO 1-4
What would a competitive retailer have to do to get your patronage? LO 1-4
What are the benefits and limitations of purchasing a home entertainment system directly from a number of component manufacturers rather than from a retailer? LO 1-4
What retailers would be considered intratype competitors for a convenience store chain such as 7-Eleven? What firms would be intertype competitors? LO 1-4
Similar brands and styles of men’s suits are sold for different prices at department stores like Nordstrom versus specialty stores like Men’s Wearhouse. Why would a customer choose to buy a suit from one store rather than the other? Use the retail mix (Exhibit 1-5) to organize your response. LO
Compare and contrast the retail mixes of department stores and fullline discount stores. Use bullet points or a table to list the similarities and differences. LO 1-4
An entrepreneur approaches you about how to sell their new writing pens to consumers. The pens have a unique benefit—they are more comfortable to use than traditional pens. The entrepreneur is concerned that the retailers they have approached want to buy the pens at $10 apiece and then sell the
From a personal perspective, how does retailing rate as a potential career compared with others you are considering? Why? LO 1-4
List the different characteristics that define retailers. LO 2-1
Categorize the various types of food retailers. LO 2-2
Identify the various types of general merchandise retailers. LO 2-3
Explain the differences between merchandise retailers and service providers. LO 2-4
Illustrate the types of ownership for retail firms. LO 2-5
Distinguish between variety and assortment. Why are these important elements of the retail market structure? LO 2-1
What sorts of competitive pressures are confronting traditional grocery stores? What options do these stores have to ease the pressure? LO 2-1
What do off-price retailers need to do to compete against other formats in the future? LO 2-1
Review Exhibit 2–5, Category Specialists, and pick a retailer from the list and summarize the merchandise offered, pricing strategy, level of service, type of location, and communication mix. LO 2-1
Why are retailers in the limited-assortment supermarket, online grocery retailing, and extreme-value discount store sectors growing so rapidly? From which retailers do these firms capture additional sales? LO 2-1
The same brand and model of coffee maker is sold by specialty stores, discount stores, category specialists, online retailers, and warehouse stores. Why would a customer choose one retail format over the others? LO 2-1
Choose a product category that both you and your friends or family members purchase (e.g., business clothing, casual clothing, music, electronic equipment, shampoo). In which type of store do you typically purchase this merchandise? What about your friends or family members? Explain why there is,
Does it create or add significant value for customers? (Appendix)
Does it solve a significant problem or meet a significant demand or need in the marketplace for which someone is willing to pay a premium? (Appendix)
Is there a large enough market and sufficient margins to generate profits? (Appendix)
Is there a good fit between the skills of the management team and the skills required to operate the business?
What is Tractor Supply Company’s growth strategy?What retail mix does TSC provide? (Appendix)
Why and how has TSC’s target customer changed over time? (Appendix)
How does TSC’s retail mix provide the benefits sought by its target market? (Appendix)
How vulnerable is TSC to competition? Why is this the case? (Appendix)
Why does TSC place so much emphasis on training employees? (Appendix)
Is the Build-A-Bear Workshop concept a fad, or does it have staying power? (Appendix)
Describe the target customer for this retailer. (Appendix)
What can Build-A-Bear Workshop do to generate repeat visits to the store? (Appendix)
What strengths do the different distribution channels have from the company’s perspective? (Appendix)
Which synergies has Blue Tomato created across different channels? What additional actions might it take to become an omnichannel retailer?
What key challenges remain for Blue Tomato in its efforts to coordinate these different channels? (Appendix)
Which challenges might Blue Tomato face as it expands its business activities internationally? (Appendix)
Assess the extent to which Staples has developed a successful multichannel strategy. What factors have contributed to its success?
What are the advantages and disadvantages of using kiosks as a part of its approach? (Appendix)
How should Staples assess which SKUs to keep in its stores versus on the Internet? (Appendix)
How do the Staples Copy and Print centers differentiate it from the competition? (Appendix)
Outline the decision-making process for each of the Sanchez family’s bicycle purchases.
Compare the different purchase processes for the three bikes. What stimulated each of them? What factors were considered in making the store choice decisions and purchase decisions?
Go to the student site of the Online Learning Center(OLC), and click on the multiattribute model.Construct a multiattribute model for each purchase decision. How do the attributes considered and importance weights vary for each decision?
What is Ladurée’s target market and retail strategy in the United States? (Appendix)
What are the key steps Ladurée has to go through when entering the American market?
Explain the reasons Ladurée owns its store in some countries and uses franchising with local licensees in others.
Which type(s) of retailing format(s) and location(s)are best suited to match Ladurée’s marketing strategy in the United States?
Could Ladurée sell its products online? Why or why not? Explain. (Appendix)
How might a hypermarket located in India appeal to consumers and orient them to shopping in larger stores?
Is the Indian government’s willingness to spend $500 billion to improve the nation’s infrastructure good news for international retailers? Why or why not?
Identify the main changes that mark Indian consumers. How can international retailers learn more about India’s youthful demographic?
How important is it for consumers to buy conflict-free diamonds? Why? (Appendix)
What should the jewelry industry do to inform diamond customers about buying conflict-free gems and about the Kimberley Process?
Select a retail jewelry store in your area to visit. Is its policy on conflict diamonds posted anywhere, such as in the store or on the company’s website? Ask store personnel the three questions posed at the end of the case. What did you learn from the web page and store visit?
Prepare a SWOT analysis based on the case to support Starbucks’ expansion plans in China. Based on your SWOT analysis, what recommendations would you make to Starbucks’ CEO with regard to the market development growth strategy for this country?
Give examples of how Starbucks was successful upon entering the China market. Please use the following videos to frame your response.• Starbucks grows coffee in China, Reuters Video , available at: www.youtube.com/watch?v =BYSiGomkGdg• Starbucks in China, available at: www.youtube.com/watch?v =
Compare Starbucks’ U.S. and Chinese strategies. What are the similarities and differences? What generalities can you glean from this analysis to help the company expand into other global marketplaces? Please use the case and the following article to frame your response.• “Starbucks’ Quest
How does an individual firm like Walmart manage a supply chain, particularly considering that supply chains include multiple firms with potentially conflicting objectives? Describe some of the conflicts that could arise in such a circumstance.
What are some of the ways that Walmart’s supply chain management system has provided it the benefits of higher levels of product availability and lower merchandise acquisition and transportation costs? Provide specific examples of each benefit.
Calculate the following for both Tiffany and TJX using data from the abbreviated income statements and balance sheets in Exhibit 1.a. Gross margin percentageb. SG&A expense percentagec. Operating profit margin percentaged. Net profit margin (after taxes) percentagee. Inventory turnoverf. Asset
Compare and contrast the calculated financial figures for Tiffany and TJX. Analyze and discuss why the percentages and ratios differ for the two retailers.
Analyze which retailer has the better overall financial performance. (Appendix)
Why is ROA a good measure of a retailers’ financial performance? (Appendix)
List the pluses and minuses of each location. (Appendix)
What type of store would be most appropriate for each location? (Appendix)
If you were Stephanie, which location would you choose? Why?
How do the people living in the trade areas compare with Hutch’s target customer?
How do the proposed locations, including the cities, tenant mix, and the locations within the malls, fit with Hutch’s location requirements?
Which location would you select? Why? (Appendix)
Why is Avon so committed to diversity? (Appendix)
Select another retailer that also values diversity. How does this commitment affect its financial results? (Appendix)
What values have helped Avon to be a successful company even after 125 years? (Appendix)
Identify the benefits for a company to implement a loyalty program. (Appendix)
What are the design characteristics of an effective loyalty program? (Appendix)
What are the benefits of having a tiered loyalty program such as Sephora’s? (Appendix)
Describe Sephora’s loyalty program design characteristics in both countries. What are the main differences? Which loyalty program is most effective at developing customer loyalty? Why?
Are both Sephora’s French and American premium programs worth what they spend to reward customers? Why do both programs have a limited time validity and a specific requirement regarding the amount spent per year?
Could the premium loyalty program implemented in France be adapted to the U.S. market? Explain.
How can Diva demystify what happens behind the scenes and make potential Generation Y employees aware of the opportunities available to them beyond the shop floor?
Diva has implemented a learning organizational culture in an attempt to attract and retain staff.Discuss the possible pros and cons of this strategy for Generation Y.
Give examples of how other organizations (perhaps even nonretailers) attract a Generation Y workforce.What could Diva learn from other organizations?
Describe the type of customers in each group. (Appendix)

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Retailing Management 9th Edition Levy, Weitz - Solutions

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