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retailing management
Retailing Management 9th Edition Levy, Weitz - Solutions
Summarize how the economy and social factors affect customer purchase decisions.
Determine why and how retailers group customers into market segments.
S How did you use the Internet to purchase your last car? Was your method of searching for information different than that of your parents?
Does feminizing a Lowe’s make it less attractive to men?
Do you like the “like” button? If yes, why? If no, why not?
How are your shopping habits different from someone you are close to of the opposite sex?
CONTINUING CASE ASSIGNMENT: GO SHOPPING Visit the retail store operated by the target firm for your continuing assignment. Determine all the things that the store does to try to stimulate customers to buy merchandise at each stage of the buying process. In which types of buying decisions are most
GO SHOPPING Go to a supermarket, and watch people selecting products to put in their shopping carts. How much time do they spend selecting products?Do some people spend more time than others?Why is this the case? Does consumer behavior vary in the store perimeter versus in the aisles? Explain your
OLC EXERCISE Go to the student side of the book’s website to develop a multiattribute attitude model describing your evaluation of and decision about some relatively expensive product you bought recently, such as a car or a consumer electronics product.Open the multiattribute model exercise. List
INTERNET EXERCISE To better understand the segmentation classification of consumers, Strategic Business Insights has developed the VALS tool, which uses psychology to segment people according to their distinct personality traits. Go to the firm’s home page at
INTERNET EXERCISE Retailers want to segment the market on the basis of the geographic classification of customers to select the best sites for their businesses. Go to the Esri Business Information Solutions home page at www.esri.com/data/esri_data/tapestry, type in the zip code for your hometown or
INTERNET EXERCISE Go to the following Internet sites offering information about the latest fashions: New York Magazine’s The Cut at http://nymag.com/thecut/, New York Times’ Fashion & Style at www.nytimes.com/pages/fashion/index.html, and the U.K. Telegraph at fashion.telegraph.co.uk, Write a
Describe how service retailers, such as hotels, provide information to potential customers to answer questions about rates, services offered, and other amenities.
Considering the steps in the consumer buying process (Exhibit 4–1), describe how you (and your family) used this process to select your college or university. How many schools did you consider? How much time did you invest in this purchase decision?When you were deciding on which college to
In Exhibit 4–6, The Inner City Tenant is described.How should banks, restaurants, drugstores, and car dealers alter their retail mixes to meet the needs of this segment compared to the Top Rung segment?
Any retailer’s goal is to get customers in its store so that they can find the merchandise that they are looking for and make a purchase at this location. How could a sporting goods retailer ensure that the customer buys athletic equipment at its outlet?
A family-owned used-book store across the street from a major university campus wants to identify the various segments in its market. What approaches might the store owner use to segment this market?List two potential target market segments based on this segmentation approach. Then contrast the
How does the buying decision process differ when consumers are shopping on the Internet or mobile device compared with shopping in a store in terms of locations or sites visited, time spent, and brands examined?
Using the multiattribute attitude model, identify the probable choice of a local car dealer for a young, single woman and for a retired couple with limited income (see the accompanying table). What can the national retail chain do to increase the chances of the retired couple patronizing its
Think of a recent purchase that you made, and describe how economic and social environmental factors (e.g., reference group, family, and culture)influenced your buying decision. How are retailers using social media to affect your buying decisions?
Think about the merchandise sold at Office Depot, Staples, and Office Max, and list three to four types of merchandise that fall into extended problem solving, limited problem solving, and habitual decision making for college students. Explain how the categories of merchandise would change for each
Define the retail strategy.
Illustrate how retailers build a sustainable competitive advantage.
Classify the different strategic growth opportunities retailers pursue.
Identify issues that arise as domestic retailers become global retailers.
Know the steps retailers go through to develop a strategic plan.
Why does IKEA’s private-label furniture create a sustainable competitive advantage?
How does the Container Store maintain its competitive advantage?
Given the Chinese government’s disdain for wet markets, do you think they will endure?
Could 7-Eleven adapt what it has learned in Indonesia to the United States to attract young urban customers?Would it want to?
Describe Hot Topic’s target market. How has this changed over time?
CONTINUING CASE ASSIGNMENT Prepare an analysis of the company you selected for the continuing assignment. Identify its direct competitors, its target market and positioning, its strategy with respect to its competitors, its retail format (the elements in its retail mix—merchandise variety and
INTERNET EXERCISE Visit the websites for IKEA (www.ikea.com) and Starbucks (www.starbucks.com). Are the look and feel of these Internet sites consistent with the in-store experience of these retailers?
INTERNET EXERCISE Go to the websites for Walmart (www.walmartstores.com), Carrefour(www.carrefour.fr), Royal Ahold (www.ahold.com), and Metro AG (www.metro.de). Which chain has the most global strategy? Justify your answer.
GO SHOPPING Visit two stores that sell similar merchandise categories and cater to the same target segment(s). How are their retail formats (the elements in their retail mixes) similar? Dissimilar? On what bases do they have a sustainable competitive advantage?Explain which you believe has a
WEB OLC EXERCISE Go to the student side of the book’s website, and click on “Market Position Matrix.”Exercise 1: This spreadsheet describes an analysis of international growth opportunities. What numbers in the matrices would have to change to make China and France more attractive
For each of the four retailers discussed at the beginning of the chapter (Chipotle Mexican Grill , Lululemon, Chico’s, and Save-A-Lot), describe its strategy and the basis of its competitive advantage. LO-3
Choose a retailer, and describe how it has developed a competitive strategic advantage. LO-3
Give an example of a market penetration, a retail format development, a market expansion, and a diversification growth strategy that Best Buy might use. LO-3
Choose your favorite retailer. Draw and explain a positioning map, like that shown in Exhibit 5–3, that includes your retailer, retailers that sell the same types of merchandise, and the target customer segments(ideal points). LO-3
Do a SWOT analysis for McDonald’s. What is its mission? What are its strengths and weaknesses?What opportunities and environmental threats might it face over the next 10 years? How could it prepare for these threats? LO-3
What are Neiman Marcus’s and PetSmart’s bases for sustainable competitive advantage? Are they really sustainable, or are they easily copied? LO-3
Assume you are interested in opening a restaurant in your town. Go through the steps in the strategic planning process shown in Exhibit 5–7. Focus on conducting a SWOT analysis of the local restaurant market, identifying and evaluating alternatives, and selecting a target market and a retail mix
The Gap owns several chains, including Old Navy, Banana Republic, Piperlime, and Athleta. What type of growth opportunity was The Gap pursuing when it opened each of these retail concepts? Which is most synergistic with the original Gap chain? LO-3
Identify a store or service provider that you believe has an effective loyalty program. Explain why it is effective. LO-3
Choose a retailer that you believe could be, but is not yet, successful in other countries. Explain why you think it could be successful. LO-3
Amazon.com started as an Internet retailer selling books. Then it pursued a variety of growth opportunities, including expanding to groceries, DVDs, apparel, software, and travel services; introducing e-readers(Kindle); operating the Internet channel for other retailers;and hosting virtual stores
Review the strategic objectives of a retail firm.
Contrast the two paths to financial performance using the strategic profit model.
Illustrate the use of the strategic profit model for analyzing growth opportunities.
Analyze the financial risks facing a retail firm.
Review the measures retailers use to assess their performance.
S Does TOMS’s socially responsible business model make you more likely to buy its shoes?
What are the differences in the retailing mixes used by Costco and Macy’s?
What are advantages and disadvantages of paying employees more than they can earn at comparable fi rms?
What are the benefits to a retailer of being owned by a private equity firm?
CONTINUING CASE ASSIGNMENT Evaluate the financial performance of the retailer you have selected for the Continuing Case Assignment and of another store that sells similar merchandise categories but to a very different target market. If yours is a high- margin–low-turnover store, compare it with a
INTERNET EXERCISE Go to the latest annual reports, and use the financial information to update the numbers in the net profit margin management model and the asset turnover management model for Costco and Macy’s. Have there been any significant changes in their financial performance? Why are the
GO SHOPPING Go to your favorite store, and interview the manager. Determine how the retailer sets its performance objectives. Evaluate its procedures relative to the procedures presented in the text.
WEB OLC EXERCISE Go to the strategic profit model (SPM) on the student side of the book’s website.The SPM tutorial was designed to provide a refresher course on the basic financial ratios leading to return on assets and walks you through the process step-by-step. A calculation page is also
Buyers’ performance is often measured by the gross margin percentage. Why is this measure more appropriate than operating or net profit percentage?
Neiman Marcus (a chain of high-service department stores) and Walmart target different customer segments.Which retailer would you expect to have a higher gross margin? Higher expense-to-sales ratio?Higher net profit margin percentage? Higher inventory turnover? Higher asset turnover? Why?
What metrics should be used to measure the financial risk of a retailer? How is each metric used?
Using the following information taken from the 2012 balance sheet and income statement for Urban Outfitters, develop a strategic profit model. (Figures are in millions of dollars.) You can access an Excel spreadsheet for SPM calculations on the student portion of the book’s website. Net sales
Describe the types of retail locations available to retailers.
Review the types of unplanned locations.
Analyze the characteristics of the different types of shopping centers.
Discuss nontraditional retail locations.
Match the locations to the retailer’s strategy.LO6 Review the societal and legal considerations in selecting locations.
Among all of the potential retailers that could be interested in an inner-city location, why have Loews Cineplex Entertainment, Starbucks, and T.G.I. Friday’s been particularly interested in working with Magic Johnson?
What are the challenges facing Simon Properties as it pursues international growth opportunities?
Why is the Florentia Village outlet center successful while Chinese-owned outlet centers have not been?
What are the advantages and disadvantages to Subway’s nontraditional location strategy?
CONTINUING CASE ASSIGNMENT Interview the manager of the shopping center that contains the retailer you selected for the Continuing Assignment.Write a report summarizing which retailers the shopping center manager thinks are his or her best tenants and why they are valued. How does the manager rate
INTERNET EXERCISE Go to the web page for Faneuil Hall Marketplace at www.faneuilhallmarketplace.com and the online site for CocoWalk at www.cocowalk.net. What kinds of centers are these?List their similarities and differences. Who is the target market for each of these retail locations?
GO SHOPPING Go to your favorite shopping center, and analyze the tenant mix. Do the tenants appear to complement one another? What changes would you make in the tenant mix to increase the overall performance of the center?
GO SHOPPING Visit a lifestyle center. What tenants are found in this location? Describe the population characteristics around this center. How far would people drive to shop at this lifestyle center? What other types of retail locations does this lifestyle center compete with?
INTERNET EXERCISE Go to the home page for Simon Property Group, www.simon.com/about_ simon/our_business/default.aspx, and read about the businesses that Simon is in. What is the difference between their businesses?
INTERNET EXERCISE Go to the home page of your favorite enclosed mall, and describe the mall in terms of the following characteristics: number of anchor stores, number and categories of specialty stores, number of sit-down and quick-service restaurants, and types of entertainment offered. What are
GO SHOPPING Visit a power center that contains a Target, Staples, Sports Authority, Home Depot, or other category specialists. What other retailers are in the same location? How is this mix of stores beneficial to both shoppers and retailers?
INTERNET EXERCISE Go to www.pbs.org/itvs/storewars/. This site contains information about the Ashland town council’s decision to allow Walmart to open a store in Ashland, Virginia. Summarize the pros and cons of allowing Walmart to open a store in town. Were you surprised by the town council’s
Why is store location such an important decision for retailers? LO-5
Pick your favorite store. Describe the advantages and disadvantages of its current location, given its store type and target market. LO-5
Home Depot typically locates in either a power center or a freestanding site. What are the strengths of each location for this home improvement retailer? LO-5
As a consultant to 7-Eleven convenience stores, American Eagle Outfitters, and Porsche of America, what would you say is the single most important factor in choosing a site for these three very different types of stores? LO-5
Retailers are locating in shopping centers and freestanding locations in central business districts that have suffered decay. As a result, these areas are rejuvenating, a process known as gentrification. Some people have questioned the ethical and social ramifications of this process. Discuss the
Staples, Office Max, and Office Depot all have strong multichannel strategies. How do competition and the Internet affect their strategies for locating stores? LO-5
In many malls, quick-service food retailers are located together in an area known as a food court. What are the advantages and disadvantages of this location for the food retailers? What is the new trend for food retailers in the shopping environment? LO-5
Why would a Payless ShoeSource store locate in a neighborhood shopping center instead of a regional shopping mall? LO-5
How does the mall near your home or university combine the shopping and entertainment experiences? LO-5
Summarize the factors considered in locating a number of stores.
Review the characteristics of a particular site.
Understand how retailers analyze the trade area for a site.
Determine the forecasted sales for a new store location.
Illustrate the site selection process.
Explain the different types and terms of leases.
What are the opportunities and threats Stage Stores faces?
S For what types of retailers is being on the right side more important during afternoon commutes? For which types of retailers is it more important during the morning commute? Are there any types of retailers for which a right-hand side location is not particularly important?
CONTINUING CASE ASSIGNMENT Evaluate the location of a store operated by the retailer you have selected for the Continuing Case. What is the size and shape of the retailer’s trade area? Describe the positive and negative aspects of its location.Compare the store’s location with the locations of
INTERNET EXERCISE Go to www.esri.com/library/fliers/pdfs/tapestry_segmentation.pdf and identify five segments that you would expect to find in your zip code. Then go to www.esri.com/data/esri_data/ziptapestry and type in your zip code. Compare the segments that are found in your zip code with your
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