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retailing management
Retailing Management 9th Edition Levy, Weitz - Solutions
INTERNET EXERCISE Go to http://www.esri.com/what-is-gis, the home page for ESRI Geographical Information Systems, and read about GIS. Afterwards, explain how retailers can make better decisions with GIS.
INTERNET EXERCISE The U.S. Census Bureau tracks key population characteristics, such as age, gender, disability, employment, income, language, poverty, and race. Go to the U.S. Census Bureau home page at http://factfinder2.census.gov/faces/nav/jsf/pages/index.xhtml, and, using the Population
GO SHOPPING Go to a shopping mall. Get or draw a map of the stores. Analyze whether the stores are clustered in some logical manner. For instance, are all the high-end stores together? Is there a good mix of retailers catering to comparison shoppers near one another?
GO SHOPPING Visit a jewelry store in an enclosed mall and one in a neighborhood strip shopping center.List the pros and cons for each location. Which location is the most desirable? Why is this the case?
WEB OLC EXERCISE Go to the student side of the book’s website, and click on “Location.” You will see an Excel spreadsheet that contains the sales for 45 retail locations of a sporting goods retail chain, plus the characteristics of each location: number of households in trading area,
True Value Hardware plans to open a new store. Two sites are available, both in middle-income neighborhood centers. One neighborhood is 20 years old and has been well maintained. The other was recently built in a newly planned community. Which site is preferable for True Value? Why?
Under what circumstances might a retailer use the analog approach for estimating demand for a new store? What about regression analysis?
What retail locations are best for department stores, consumer electronics category killers, specialty apparel stores, and warehouse stores? Discuss your rationale.
If you were considering the ownership of a Taco Bell franchise, what would you want to know about the location in terms of traffic, population, income, employment, and competition? What else would you need to research about a potential location?
A drugstore is considering opening a new location at shopping center A, with hopes of capturing sales from a new neighborhood under construction. Two nearby shopping centers, B and C, will provide competition.Using the following information and the Huff gravity model, determine the probability that
Review the objectives of human resource management.
Discuss the major issues facing human resource managers.
Summarize the activities retail employees undertake and how they are typically organized.
Present activities undertaken to win the talent war.
Identify the legal issues involved with human resource management.
Why did Macy’s make such a large investment in social media?
If you were considering a job at Starbucks, would its social media campaign influence your decision?
What does Pret A Manger do to build employee engagement?
What are the advantages and disadvantages of REI’s executive blog from the perspectives of the employees and the executives? What features would you change? Why?
CONTINUING CASE ASSIGNMENT Meet with the store manager of the retailer you have chosen for this Continuing Case Assignment. Ask the store manager which company HR policies he or she feels are very effective and which are not effective. Why?Also ask the manager about the store’s policies
INTERNET EXERCISE Go to the Society of Human Resource Management’s home page, www.shrm.org. An organization of human resource professionals, SHRM publishes HR Magazine , with articles available online at www.workforceonline.com.Find and summarize the conclusions of articles addressing the HR
INTERNET EXERCISE The Fair Measures Law Consulting Group provides training and legal services for employers. Go to its website, www.fairmeasures.com, and choose one of the legal areas to investigate(sexual harassment, wrongful termination, and so forth). Another source of information about legal
NTERNET EXERCISE Go to the home page of the National Retail Federation Foundation (NRFF), at http://nrffoundation.com/content/retail-careers-center, and click on “Experience Retail” to read about the different career paths in marketing/advertising, store operations, loss prevention, store
LIBRARY EXERCISE Go to one of your college’s or university’s library business databases, and find a recent newspaper or journal article that discusses human resource management in the retail industry.Briefly tie the concepts in the article back to the chapter or to your Continuing Case
OLC EXERCISEa. Update your résumé, and prepare for an interview for a manager training program with a large lumber and building supply retailer. This fulltime position promises rapid advancement upon completion of the training period. A college degree and experience in retail, sales, and
Why is human resource management more important in retailing firms than in manufacturing firms?
How can retailers use hiring, selecting, training, and motivating employees in their human resource management practices to gain competitive advantage?
Some retailers have specific employees (merchandise assistants) assigned to restock the shelves and maintain the appearance of the store. Other retailers have sales associates perform these tasks. What are the advantages and disadvantages of each approach?
How can national retailers like Best Buy and Victoria’s Secret, which both use a centralized buying system, make sure that their buyers are aware of the local differences in consumer needs?
Reread Retailing View 9.4 on REI’s internal use of social media. What are the positive and negative aspects of this internal use of social media in general and, more specifically, REI’s use of an internal intranet rather than a platform like Facebook?
To motivate employees, several major department stores are experimenting with incentive compensation plans, although compensation plans with a lot of incentives often don’t promote good customer service.How can retailers motivate employees to sell merchandise energetically and, at the same time,
Assume that you’re starting a new restaurant that caters to college students and plans to use college students as servers. What human resource management problems would you expect to have? How could you build a strong organization culture in your restaurant to provide outstanding customer service?
What HR trends are helping meet employees’ needs, increase job satisfaction, and lower turnover?
Understand the strategic advantage generated by a supply chain.
Describe the information and merchandise flows in a supply chain.
Consider the activities that are undertaken in a distribution center.
Review the considerations in the design of supply chains.
Explain how retailers and vendors collaborate to make sure the right merchandise is available when customers are ready to buy it.LO6 Discuss RFID and its implications for retailers.
What are the benefits and costs of Walmart’s efforts to make its supply chain greener?
What are some of the ways that Zara’s supply chain management system has helped create value for its customers? Provide specific examples.
What benefits and risks face West Marine as it engages in CPFR with its vendors?
For what types of merchandise is using RFID systems most appropriate? Why?
CONTINUING ASSIGNMENT Interview the store manager working for the retailer you have selected for the Continuing Case assignment. Write a report that describes and evaluates the retailer’s information and supply chain systems. Use this chapter as a basis for developing a set of questions to ask
INTERNET EXERCISE Go to Barcoding Incorporated’s web page at www.barcoding.com/, and search for retail, warehouse management, and RFID.How is this company using technology to support retailers with information systems and supply chain management?
INTERNET EXERCISE Go to the home page of RFID Journal at www.rfidjournal.com/, and search for supply chain in the current issue. Summarize one of the recent articles, and explain how the key concept(s)described could make the shopping experience better for consumers and improve efficiency in the
INTERNET EXERCISE Go to the home page of Vendor Managed Inventory at www.vendormanagedinventory.com/index.php, and answer the following questions: What is vendor-managed inventory? What are the benefits and limitations of a vendor-managed inventory approach?
Explain how an efficient supply chain system can increase a retailer’s level of product availability and decrease its inventory investment.
What type of merchandise is most likely to be cross-docked at retailers’ DCs? Why is this often the case?
What is a universal product code (UPC)? How does this code enable manufacturers, distributors, and retailers to track merchandise throughout the supply chain?
For what types of products is item-level RFID most beneficial for retailers?
Describe the customer relationship management process.
Understand how customer shopping data are collected.
Explain the methods used to analyze customer data and identify target customers.
Outline how retailers develop their frequent-shopper programs.
Explain various ways to implement effective CRM programs.
Why is segmentation based on purchase behavior superior for encouraging customer loyalty to segmentation based on demographics?
How and why would a retailer use RFM analysis?
How does CVS Caremark use the data it collects from its ExtraCare program?
What are the elements of Neiman-Marcus’s InCircle program that build customer loyalty?
How does American Girl help ensure that its existing customers spend more with it?
CONTINUING ASSIGNMENT Interview the store manager working for the retailer you have selected for the continuing assignment. Ask the manager if the store offers a frequent-shopper/loyalty program and how effective it is in terms of increasing the store’s sales and profits. Find out why the manager
INTERNET EXERCISE Go to the home page of a retailer that you frequent and review its privacy policy.How is this retailer protecting its customers’ information?Which policies, or lack of policies, raise your concern? Why? Which policies give you comfort that your private information is being
INTERNET EXERCISE Go to the website of the Electronic Privacy Information Center (www.epic.org), and review the issues raised by the organization.What does this watchdog organization feel are the most important retailers’ consumer privacy issues?How will these issues evolve in the future?
INTERNET EXERCISE Go to the home page of 1-800-Flowers at www.1800flowers.com, and read about the Fresh Rewards program. How does this company’s CRM program help it to track its better customers, grow its business, and increase customer loyalty?
Why do customers have privacy concerns about the frequent-shopper programs that supermarkets offer, and what can supermarkets do to minimize these concerns?
Which of the following types of retailers do you think would benefit most from instituting a CRM program: (a) supermarkets, (b) banks, (c) automobile dealers, or (d) consumer electronics retailers?Why?
Develop a CRM program for a local store that sells apparel and gifts with your college’s or university’s logo. What type of information would you collect about your customers, and how would you use this information to increase the sales and profits of the store?
What are the different approaches retailers can use to identify customers by their transactions? What are the advantages and disadvantages of each approach?
Explain the merchandise management organization and performance measures.
Contrast the merchandise management processes for staple and fashion merchandise.
Describe how to predict sales for merchandise categories.
Summarize the trade-offs for developing merchandise assortments.
Illustrate how to determine the appropriate inventory levels.
Analyze merchandise control systems.
Describe how multistore retailers allocate merchandise to stores.
Review how retailers evaluate the performance of their merchandise management decisions.
What are the benefits of fast-fashion retailing from a retailer’s perspective?
Why might Kohl’s sales be more affected by the weather than Nordstrom’s sales?
Why does maintaining a relatively low number of SKUs work at Costco, but not at Walmart?
What box on the grid best describes the Saks Fifth Avenue closest to where you live? Do you think it is the most appropriate box for that store’s target market?
How and why would you expect variety and assortment to differ between JCPenney’s store and Internet channel?
Simply speaking, increasing inventory turnover is an important goal for a retail manager. What are the consequences of turnover that’s too low? Too high?
Assume you are the grocery buyer for canned fruits and vegetables at a five-store supermarket chain.Del Monte has told you and your boss that it would be responsible for making all inventory decisions for those merchandise categories. Del Monte will now determine how much to order and when
Variety, assortment, and product availability are the cornerstones of the merchandise planning process. Provide examples of retailers that have done an outstanding job of positioning their stores on the basis of one or more of these issues.
As the athletic shoe buyer for Sports Authority, how would you go about forecasting sales for a new Nike running shoe?
Using the 80–20 principle, how can a retailer make certain that it has enough inventory of fast-selling merchandise and a minimal amount of slow-selling merchandise?
A buyer at a sporting goods store in Denver receives a shipment of 400 ski parkas on October 1 and expects to sell out by January
On November 1, the buyer still has 350 parkas left. What issues should the buyer consider in evaluating the selling season’s progress?
Identify the branding options available to retailers.
Describe how retailers buy national brands.
List the issues retailers consider when developing and sourcing store-branded merchandise internationally.LEARNING OBJECTIVES
Understand how retailers prepare for and conduct negotiations with their vendors.
Determine why retailers build strategic relationships with their vendors.
Indicate the legal, ethical, and social responsibility issues involved in buying merchandise.DISCUSSION QUESTION When you buy store brands, what is the primary reason: price, quality, or value?DISCUSSION QUESTION From a retail buyer’s perspective, what are the opportunities and threats associated
Why do Zappos’ vendors love them? Why are these relationships good for Zappos?
Would you shop at Vine.com? Does it help or hurt to know it is owned by Amazon.com?
CONTINUING ASSIGNMENT Go visit the retailer you have selected for the continuing assignment and perform an audit of its manufacturer’s and store brands. Ask the manager to comment on the store’s philosophy toward manufacturer’s versus store brands. Why does it use store brands? Does it offer
Read articles about the NBA warning fans about counterfeit merchandise. Go to the home page for the Coalition to Advance the Protection of Sports Logos(CAPS) at www.capsinfo.com, and read “About CAPS.”What are college and professional sports teams doing to prevent the sale of counterfeit
Go to the home page for the Private Label Manufacturers Association (PLMA), and read the “What are Store Brands?” page, which can be found at http://plma.com/storeBrands/facts13.html. What are storebrand products? Who purchases store brands? Who makes store brands? What store brands are you
Assume you have been hired to consult with Forever 21 on sourcing decisions for sportswear. What issues would you consider when deciding whether you should buy from Mexico or China or find a source within the United States?
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