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business
retailing management
Retailing Management 9th Edition Levy, Weitz - Solutions
What are the differences among counterfeit, graymarket, and black-market merchandise? Is the selling of this type of merchandise legal? Do you believe that selling these types of merchandise should be allowed?Provide a rationale for your position. Would you purchase a counterfeit wallet? What about
Why have retailers found exclusive store brands to be an appealing branding option? Choose a department store, a discount store, and a grocery store. What exclusive store brands do they offer? How are they positioned in relation to their national brand counterparts?
Explain the difference between a high/low pricing strategy and an everyday low-pricing strategy.
Identify the factors retailers consider when pricing their merchandise.
Describe how retailers set prices.
Examine how and why retailers take markdowns.
Identify the pricing techniques retailers use to increase sales and profits.
Describe how the Internet and social and mobile channels are used to make pricing decisions.
Indicate the legal and ethical issues retailers should consider when setting prices.
Why might customers prefer EDLP pricing in one situation but like coupons and promotions in another?
Which of the activities mentioned would be most effective to prevent you from showrooming?
S Which retailer do you prefer—Walmart, Target, or Amazon? Do you shop there because you think it has the lowest prices?
Would you patronize a retailer that used dynamic pricing?
Is extreme couponing worth the trouble to you?What about your parents?
S Should private-sale sites and in-store retailers be required to substantiate their reference prices?Which price should they use as the reference price?
CONTINUING ASSIGNMENT Go shopping at the retailer you have selected for the continuing assignment. Does the retailer use high/low pricing or an EDLP strategy? Ask the store manager how markdown decisions are made and how the store decides how much a markdown should be. What rule-based approaches
Go to your favorite food store and your local Walmart to find their prices for the market basket of goods listed in the accompanying table. What was the total cost of the market basket at each store? How did the prices compare? Did Walmart live up to its slogan of“Always lower prices”?
Why would sewing pattern manufacturers such as Simplicity, Butterick, and McCall’s print a price of$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?
Reread Retailing View 14.1. Will an EDLP strategy work for JCPenney? Explain your answer.
Reread Retailing View 14.5. What are your thoughts about extreme couponing? Should retailers take steps to restrict it?
What is the difference between bundled pricing and multiunit pricing?
A department store’s maintained markup is 38 percent, reductions are $560, and net sales are $28,000.What’s the initial markup percentage?
The cost of a product is $150, markup is 50 percent, and markdown is 30 percent. What’s the final selling price?
Answer the following questions:(a) The Limited 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 The Limited does not own the factory, its product development and design costs are $400,000. The
Identify the traditional media elements.
Identify the new media elements.
Understand how retailers use communication programs to develop brand images and build customer loyalty.
List the steps involved in developing a communication program.
S Have you used mobile apps developed by retailers?If yes, do you find them useful?
Have you interacted with a retailer using one of its social media tools? If yes, was the response satisfactory?
Do you think accessing HSN merchandise via YouTube is useful?
How has your perception of J.Crew changed in recent years? Do you like the changes?
CONTINUING ASSIGNMENT Evaluate the communication activities undertaken by the retailer you have selected for the continuing assignment.Describe your retailer’s brand image. Briefly explain how your retailer uses each of the following elements of its communication program: direct marketing, online
Go to the home page for BrandZ at www.brandz.com, and click on “BrandZ Reports,” then select the Top 100 Global Brands Report. On the basis of this report, list the top 20 global retail brands. In two or three paragraphs, describe what makes a strong retail brand.How were brand equity and
Trader Joe’s is a gourmet grocery store offering items such as health foods, organic produce, and nutritional supplements. The company has nearly 400 stores in 37 states at which it offers more than 2,000 private-label products. Go to www.traderjoes.com, and see how the firm uses its Internet
Go to the home page for Target’s Pressroom at pressroom.target.com. How does this retailer use public relations to communicate with investors and customers? Is this an effective communication tool for this retailer? Provide support for your response.
Go to www.facebook.com/business to see how to build pages, ads, and sponsored stories, as well as how to take advantage of mobile applications. What are some of the steps that Facebook suggests a person consider when marketing using ads?
What factors should be considered in dividing up the advertising budget among a store’s different merchandise areas? Which of the following should receive the highest advertising budget: staple, fashion, or seasonal merchandise? Why?
Outline some elements in a communication program that can be used to achieve the following objectives:(a) Increase store loyalty by 20 percent. (b) Build awareness of the store by 10 percent. (c) Develop an image as a low-price retailer. How would you determine whether the communication program met
A retailer plans to open a new store near a university.It will specialize in collegiate merchandise such as apparel, accessories, and school supplies. Consider the pros and cons of each of the following media: TV, radio, city newspaper, university newspaper, local magazine, website, blog, and event
Assume you work for a large consumer-packaged goods firm that has learned its latest line of snack foods is moving very slowly off store shelves. Recommend a strategy for listening to what consumers are saying on blogs, review sites, and the firm’s website. Describe how your strategy might
Describe how to improve the ability of workers through efficient recruiting, socializing, and training.
Examine how to improve the effort of workers through proper motivation, evaluation, rewards, and compensation.
Illustrate effective leadership strategies of a store manager.
Explore the various strategies a store manager can undertake to control costs.
How has centralized recruiting improved the candidate pool at Home Depot?
What were your most and least favorite subjects in college? Why?
What types of extracurricular activities did you participate in? Why did you select those activities?
If you had the opportunity to attend school all over again, what, if anything, would you do differently? Why?
How did you spend the summers during college?
Did you have any part-time jobs? Which of your part-time jobs did you find most interesting? What did you find most difficult about working and attending college at the same time? What advice would you give to someone who wanted to work and attend college at the same time?
What accomplishments are you most proud of?
What’s your description of the ideal manager? Subordinate? Coworker?
What did you like most/least about your last job?
What kind of people do you find it difficult/easy to work with? Why?
What has been your greatest accomplishment during your career to date?
Describe a situation at your last job involving pressure. How did you handle it?
What were some duties on your last job that you found difficult?
Of all the jobs you’ve had, which did you find the most/least rewarding?
What is the most frustrating situation you’ve encountered in your career?
Why do you want to leave your present job?
What would you like to avoid in future jobs?
What do you consider your greatest strength/weakness?
What are your responsibilities in your present job?
Tell me about the people you hired on your last job. How did they work out? What about the people you fired?
What risks did you take in your last job, and what were the results of those risks?
Where do you see yourself in three years?
What kind of references will your previous employer give?
What do you do when you have trouble solving a problem?
Do you have plans for having children/a family?
What are your marriage plans?
What does your husband/wife do?
What happens if your husband/wife gets transferred or needs to relocate?
Who will take care of your children while you’re at work?
(Asked of men) How would you feel about working for a woman?
How old are you?
What is your date of birth?
How would you feel working for a person younger than you?
Where were you born?
Where were your parents born?
Do you have any handicaps?
As a handicapped person, what help are you going to need to do your work?
How severe is your handicap?
What’s your religion?
What church do you attend?
Do you hold religious beliefs that would prevent you from working on certain days of the week?
Do you feel that your race/color will be a problem in your performing the job?
Are you of _____ heritage/race?
How can universities improve the socialization process for college students entering their first jobs?
What types of data would Sheetz need to have collected to implement all of these changes?
What should retailers do to address new forms of high-tech shoplifting?
CONTINUING CASE ASSIGNMENT Go to the store you have selected for the continuing case assignment, and meet with the person responsible for personnel scheduling. Report on the following:• Who is responsible for employee scheduling?• How far in advance is the schedule made?• How are breaks and
CONTINUING CASE ASSIGNMENT Go to the store you have selected for the continuing case assignment, and talk to the person responsible for human resource management to find out how sales associates are compensated and evaluated for job performance.• How are sales associates trained? What are the
GO SHOPPING Go to a store, observe the security measures in the store, and talk with a manager about the store’s loss prevention program.• Are there surveillance cameras? Where are they located? Are the cameras monitored, or are they just there to thwart shoplifting?• What is the store’s
INTERNET EXERCISE Go online and research the shoplifting laws implemented by the state where you live or attend school. What are the fines, jail time, community service, or punishments for perpetrators in your local jurisdiction? What factors are weighed and evaluated in shoplifting cases? Are the
LIBRARY EXERCISE Go to one of your library’s business databases and find an article that describes a case of a retailer violating Title VII in either its hiring or promotion practices. Summarize the case and court decision. What should this retailer do differently in the future to improve its
INTERNET EXERCISE Go to the home page for Greening Retail (www.greeningretail.ca), and examine the company’s research and programs that help retailers implement environmental best practices.Select a company in the “Featured Retailer Archive”(www.greeningretail.ca/featured/archive.dot) as a
How do on-the-job training, Internet training, and classroom training differ? What are the benefits and limitations of each approach? (Appendix)
Give examples of a situation in which a manager of a McDonald’s fast-food restaurant should utilize different leadership styles. (Appendix)
Using the interview questions in Exhibit 16–3, role-play with another student in the class as both the interviewer and the applicant for an assistant store manager position at a store of your choice. (Appendix)
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