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business
retailing management
Retailing Management 10th edition Michael Levy, Barton Weitz, Dhruv Grewal - Solutions
Why is store location such an important decision for retailers?
Go to the web page for Faneuil Hall Marketplace at: www.faneuilhallmarketplace.com and the online site for CocoWalk at: http://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?
A friend of yours is considering buying some stock in retail companies. Your friend knows that you are taking a course in retailing and asks for your opinion about Costco. Your friend is concerned that Costco is not a good firm to invest in because it has such a low net operating profit. What
Using the following information taken from the 2016 balance sheet and income statement for Urban Outfitters, develop a strategic profit model. (Figures are in millions of dollars.)
Blue Nile is a jewelry retailer that only uses an Internet channel for interacting with its customers. What differences would you expect in the strategic profit model and key productivity ratios for Blue Nile and Zales, a multichannel jewelry retailer?
Why do investors place more weight on comparable-store sales than growth in sales?
Macy's and Costco have targeted different customer segments. Which retailer would you expect to have a higher gross margin? Higher operating expenses as a percentage of sales? Higher operating profit margin percentage? Higher inventory turnover and asset turnover? Higher ROA? Why?
A supermarket retailer is considering the installation of self-checkout POS terminals. How would the replacement of cashiers with these self-checkouts affect the elements in the retailer’s strategic profit model?
Buyers' performance is often measured by their gross margin percentage. Why is this figure more appropriate than the operating or net profit percentage?
What are examples of the types of objectives that entrepreneurs might have for a retail business they are launching?
What are the key productivity ratios for measuring the retailer as a whole, its merchandise management activities, and its store operation activities? Why are these ratios appropriate for one area of the retailer’s operation and inappropriate for others?
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.
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 Nordstrom and Walmart. Have there been any significant changes in their financial performance? Why are the key financial
What are Neiman Marcus’s and PetSmart’s bases for sustainable competitive advantage? Are they really sustainable, or are they easily copied?
Give an example of a market penetration, a retail format development, a market expansion, and a diversification growth strategy that a store called Performance Bicycle might use.
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 stronger position?
Choose a retailer and describe how it has developed a competitive strategic advantage.
Go to the websites for Walmart (www.walmartstores.com), Carrefour (http://www.carrefour.com) Royal Ahold (www.ahold.com) and Metro AG (www.metro.de) Which chain has the most pervasive global strategy? Justify your answer.
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?
Think about the merchandise sold at Office Depot/OfficeMax and Staples, 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
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 impact your buying decisions?
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?
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 “Explore Your Neighborhood” page at www.esri.com/data/tapestry/zip-lookup, type in the zip code for your
Describe how service retailers, such as hotels, are using Twitter to provide information and answer questions about rates, services offered, and other amenities. How is this form of communication changing their expectations?
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
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
Which of the following categories of merchandise do you think could be sold most successfully through an Internet channel: jewelry; TV sets; computer software; high-fashion apparel; pharmaceuticals; health care products such as toothpaste, shampoo, and cold remedies? Why?
From a customer's perspective, what are the benefits and limitations of stores? Internet? Mobile? Social? Catalogs and other nonstore channels?
Do you participate in showrooming? Why or why not?
An entrepreneur approaches you about how to sell her new writing pens to consumers. The pens have a unique benefit-they are more comfortable to use than traditional pens. The entrepreneur is concerned the retailers she has approached want to buy the pens from her at $10 a piece and then sell the
Compare and contrast the retail mixes of department stores and full-line discount stores. Use bullet points or a table to list the similarities and differences.
The same brand and style of men’s suits are sold at different prices at a department store like Macy’s and at a specialty store like Men’s Wearhouse. Why would a customer choose to buy the suit from one store rather than the other?
What retailers would be considered intratype competitors for a convenience store chain such as 7-Eleven? What firms would be intertype competitors?
Go online to the websites of Whole Foods or The Container Store. In a brief paragraph, describe how this retailer is taking steps to contribute to a social or ethical cause.
What are the benefits and limitations of purchasing a home entertainment system directly from a number of component manufacturers rather than from a retailer?
Choose one of the top 20 retailers (Exhibit 1-4). Go to the company’s website and find out how the company started and how it has changed over time.
What is your favorite retailer? Why do you like this retailer? What would a competitive retailer have to do to get your patronage?
Go to the home pages of Macy’s, Target, Walmart, Toys ‘R’ Us, and the National Retail Federation Retail Careers Center (www.nrf.com/RetailCareers) to find information about retail careers with these companies/organizations. Review the information about the different positions described. In
How do retailers add value to the products bought by consumers?
Data on U.S. retail sales are available at the U.S. Bureau of the Census Internet site at: www.census.gov/retail/index.html. Under the heading "Monthly Retail Trade Report" there is a file titled "Retail and Food Services Sales" that lists sales by type of retailer (view “Not Adjusted Sales”).
Access the websites of Home Depot and Macy’s using your mobile phone and computer. What are the differences in the ease of navigation when looking at the presentation of merchandising using the two methods of accessing the websites?
What aspects of omnichannel retailing would benefit you as a consumer?
Pick a merchandise category like microwave ovens, power drills, digital cameras, blenders, or coffeemakers. Compare a retailer’s offering in its local store and its Internet site. What are the differences in the assortments offered through its store, Internet, mobile, and social channels? Are the
What are the differences between a multichannel, cross-channel, and omnichannel retailer? Provide an example of each.
Assume that you are getting married and planning your wedding. Compare and contrast the usefulness of www.theknot.com and www.mywedding.com for planning your wedding. What features of the sites do you like and dislike? Indicate the specific services offered by these sites that you would use.
Why are store-based retailers aggressively pursuing sales through Internet channels?
Go to the websites of J. Crew (www.jcrew.com), JCPenney (www.jcpenney.com), and American Eagle Outfitters (www.ae.com) and shop for a pair of khaki pants. Evaluate your shopping experience at each site. Compare and contrast the sites and your experiences on the basis of characteristics you think
There are services and products involved when buying or renting a car, and in both cases, the customer drives away in a car. But buying a car focuses more on the product, whereas renting involves the service. Explain four ways in which marketing for a rental car company differs from marketing for
Best Buy is a category specialist with more than 1,400 store locations. It sells appliances (refrigerators, washers and dryers, small household appliances) and electronics (televisions, computers, cell phones, car electronics, wearable technology). What are the SIC and NAICS codes used by this
Why are retailers in the limited-assortment supermarket and extreme-value discount store sectors growing so rapidly? From which retailers are they getting these additional sales?
Go to Entrepreneur franchise zone web page at http://www.entrepreneur.com/franchise500 and view the top 500 franchises for the past year. How many of these retailers in the top 10 have you patronized as a customer? Did you know that they were operated as a franchise? Finally, what is the nature of
Why is Walmart, the largest retailer in the world, facing slower growth than in the past? What can it do to accelerate its growth?
Three large associations of retailers are the National Retail Federation (www.nrf.com), the Food Marketing Institute (www.fmi.org), and the National Association of Convenience and Petroleum Stores (www.nacsonline.com). Visit these sites and report on the latest retail developments and issues
Data on U.S. retail sales are available at the U.S. Bureau of the Census Internet site at www.census.gov/retail. Look at the unadjusted Retail and Food services monthly sales by NAICS (found in the Monthly Retail Trade Report section). Which categories of retailers have the largest percentage of
Describe how the supermarket where you shop is implementing organic, locally grown, ethnic, and private-label merchandise. If any of these categories of merchandise are missing, explain whether you believe it could be a potential opportunity for growth for this supermarket. Then describe any
What sorts of competitive pressures are confronting traditional grocery stores? What options do these stores have to ease these pressures?
Keep a diary for two weeks of where you shop, what you buy, and how much you spend. Get your parents to do the same thing. Tabulate your results by type of retailer. Are your shopping habits significantly different from or are they similar to those of your parents? Do you and your parents’
Go to an athletic footwear specialty store such as Foot Locker, a department store, and a discount store. Analyze their variety and assortment of athletic footwear by creating a table similar to that in Exhibit 2–2.
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