Retailing 7th Edition Patrick M. Dunne, Robert F. Lusch , James R. Carver - Solutions

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Trade areas are often described as concentric circles emanating from the store or shopping center. Why is this practice used? Suggest an alternative method.Which would you use if you owned a store in need of a trade area analysis?
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?
Which factors do retailers consider when evaluating an area of the country to locate stores? How do retailers determine the trade area for a store?
Consider a big city that has invested in an urban renaissance.What components of the gentrification project attract both local residents and visiting tourists to spend time shopping, eating, and sightseeing in this location?
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?
Retailers are developing shopping centers and freestanding locations in central business districts that have suffered decay. Some people have questioned the ethical and social ramifications of this process, which is known as gentrification. What are the benefits and problems associated with
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?
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?
Examine Walgreens’, CVS Caremark’s, and Rite Aid’s 2009 financial performance in the table below. Evaluate Walgreens’ performance against direct external competition using the financial data and ratios. Is Walgreens’performance the same as, better than, or worse than that of CVS and Rite
Using the following information taken from the 2010 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 side of the book’s Web site.Net sales
Using the following information from Lowe’s 2010 income statement and balance sheet, taken from Hoovers, determine its asset turnover, net profit margin percentage, and ROA. (Figures are in millions of dollars.)Net sales $47,220 Total assets $33,005 Net profit $ 1,783
What elements in the strategic model are affected if a retailer decides to build and open 10 new stores?
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 inventory turnover? Higher asset turnover?Higher net profit margin percentage? Why?
How does the strategic profit model assist retailers in planning and evaluating the performance of their marketing and financial strategies?
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
The Gap owns several chains, Old Navy and Banana Republic.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?
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 situation audit of the local restaurant market, identifying and evaluating alternatives, and selecting a target market and a retail
Do a situation analysis for McDonald’s. What is its mission? What are its strengths and weaknesses?What environmental threats might it face over the next 10 years? How could it prepare for these threats?
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).
For each of the four retailers discussed at the beginning of the chapter (Lululemon, Curves, Magazine Luiza, Save-A-Lot), describe its strategy and the basis of its competitive advantage.
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
Think of a recent purchase that you made, and describe how social environmental factors, including reference group, family, and culture, influenced your buying decision. How are retailers using social media to impact your buying decisions?
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 table below). What can the national retail chain do to increase the chances of the retired couple patronizing its dealership?
How does the buying decision process differ when consumers are shopping on the Internet compared with shopping in a store in terms of locations or sites visited, time spent, and brands?
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 its market? List two potential target market segments based on this segmentation approach. Then contrast the
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?
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?
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 attend,
Describe how service retailers, such as hotels, provide information to potential customers to answer questions about rates, services offered, and other amenities.How is this similar to and different from the information provided by product manufacturers?
Outline a strategy for a local, independent storebased retailer to add an Internet channel. How would you design its Web site? What information and merchandise would you have on the Web site?
Assume you are interested in investing in a Web site targeting people who enjoy active outdoor recreation, such as hiking, rock climbing, and kayaking. What merchandise and information would you offer on the site? What type of entity do you think would be most effective in running the site: a
Which of the following categories of merchandise do you think could be sold effectively through an electronic channel: jewelry, TV sets, computer software, high-fashion apparel, pharmaceuticals, and health care products such as toothpaste, shampoo, and cold remedies? Why?
Should a multichannel retailer offer the same assortment of merchandise for sale, at the same price, on its Web site and in its stores? Why or why not?
Would you buy clothes on the basis of the way they look on a customized virtual model? Why or why not?
At many optical stores, you can get your eyes checked and purchase glasses or contact lenses. How is the shopping experience different for the service as compared to the product? Design a strategy to get customers to purchase both the service and the product.In so doing, delineate specific actions
Choose a product category that both you and your parents 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 parents? Explain why there is, or is not, a difference in your store
The same brand and model of personal computer is sold by specialty computer stores, discount stores, category specialists, online retailers, and warehouse stores.Why would a customer choose one retail format over the others?
Compare and contrast the retail mixes of convenience stores, traditional supermarkets, supercenters, and warehouse stores. Can all of these food retail institutions be successful over the long run? How? Why?
Retailing View 1.1 describes how some retailers are acting socially responsibly. Take the perspective of a stockholder in one of these companies. What effect will these activities have on the value of its stock?Why might they have a positive or negative effect?
Think of your top-five favorite retailers. Are they regional, national, or global companies? Could any of the regional or national companies have success in the future in a global market? Explain your response. What countries were the original homes for the global retailers?What contributed to the
From your perspective, what are the benefits and limitations of purchasing a home entertainment system directly from a number of component manufacturers rather than from a retailer?
3. Should Carrie ever think about firing Cliff? After all, his behavior in recent months had become a major concern. Support your reasoning.
2. If Cliff’s problem is really one of motivation, then what would you recommend that Carrie should do? Why?
1. What criteria should be used to judge the importance and necessity of having a weekly Saturday morning training meeting? Do they really motivate a sales force?
15. What is a value proposition? How does a retailer’s value proposition relate to customer retention and building profitable long-term relationships?
14. What factors in the retailer’s control have a positive effect on employee productivity?
13. If you were to go to work for a retailer today, what would be the most important supplemental benefit the retailer could offer you? Would this benefit change as your lifestyle changed?
12. What is customer relationship management, and how can it be used to develop more profitable customer relationships?
11. How can a retailer expect consumers to buy its products when its own employees shop elsewhere? As a result of this question, some clothing retailers have considered requiring that their employees only wear stores brands when working. Disregarding any possible legal issues, what would this do to
10. Why must training be an ongoing operation?
9. Explain why turnover is costly in retailing regardless of whether it is employee turnover or customer turnover.
8. Why might each of the following retailers—movie theater, hospital, amusement, theme park, and health club—desire to screen out certain customers? Employees?
7. Do a search on Google using your name and school (or hometown). Did you find anything that might embarrass you? What can you do about it?Now do the same on myspace.com.
6. Develop a list of predictor variables you would use to screen applicants for a sales position in (a) a jewelry department in a high-prestige department store, (b) a used-car dealership, (c) a health club, and (d) a fast-food chain.
5. What are the sources that a department store could use to recruit employees? Would the same sources be effective for use by a cell phone retailer such as a Sprint store?
4. What does it mean to ‘‘empower’’ a retail employee? Give examples from your personal experience of situations where you felt a retail employee was not properly empowered.
3. In retailing, customers and employees are distinct groups and have little in common. Agree or disagree and explain your answer.
2. Should a retailer view its employees as a ‘‘cost’’ or as an ‘‘investment?’’Support your reasoning.
1. Explain why a retailer’s investment in having the inventory desired by its target market is not sufficient by itself to offer a sustainable competitive advantage over the competition.
4. Discuss how to compensate employees and offer customers a compelling value proposition.
3. Explain how to manage employees and customers to develop longterm profitable relationships.
2. Describe how to recruit both the right employees and the right customers to be the store’s partners.
1. Explain why intangible people resources can provide a more competitive advantage than tangible resources.
2. How should Tracy settle this issue with Tony? Tracy is beginning to think that perhaps Tony is correct. Perhaps if teenagers were prosecuted, some parents could get angry and stop shopping at Peterson’s.
1. Is shoplifting just a cost of doing business? Doesn’t Peterson’s have an obligation to encourage ethical behavior, especially among teens?
17. Why is the retailer’s logo so important? Why isn’t the founder’s name a good choice for the name of a retail store?
16. Why are so many people purchasing the brand names of failed retailers?After all, aren’t they worthless?
15. Why is the background music so important to a store’s performance?
14. Which is more important in achieving retail sales—a store’s external or interior appearance?
13. What are the goals of interior and exterior design?
12. What is the psychology of merchandise presentation, and how is it used?Can it be used by e-tailers?
11. If retail space is such a scarce resource, then what is wrong with the mantra of ‘‘Stack it high, watch it fly’’ so as to stock more merchandise in the limited available space?
10. In what ways should new stores be designed differently from older stores so as to reflect the differences in Gen X and Gen Y customers?
9. Discuss the different uses of bulk or capacity futures and feature fixtures.
8. Describe the space-allocation planning process. How is this process different for updating an existing store versus opening a new store?
7. What is a planogram? Why must the vendor be involved in helping the retailer develop the planogram?
6. Identify the four main types of store layouts, discussing their differences and impact on customers.
5. Discuss the various types of space in a retail store, describing the role of each.
4. What is the 25-25-50 rule regarding endcaps? Why shouldn’t endcaps be 100-percent sale items?
3. What is the simple but powerful truism in retailing that store planners can follow to increase the space productivity of a store environment? Does this truism also hold true for e-tailers? Why?
2. What is merchandise presentation, and how does it impact sales?
1. Why is it important for retailers to use their stores as a means to excite their customers?
5. Explain the role of visual communications in a retail store.
4. Describe why store design is so important to a store’s success.
3. Describe how various types of fixtures, merchandise-presentation methods and techniques, and the psychology of merchandise presentation are used to increase the productivity of the sales floor.
2. Discuss the steps involved in planning the store.
1. List the elements of a store’s environment and define its two primary objectives.
5. What should be the key point for Kim to address in this memo?
4. Do you agree or disagree with the statement that ‘‘Reed’s seems to be a typical example of a retailer that doesn’t evaluate employees on their ability to serve the customer but on their ability to cash out correctly.’’ What should be done about this?
3. Is it a mistake to have too many part-time employees? Does this situation impact customer service? How?
2. If Reed’s were willing to spend more money to increase sales, should the retailer spend it on promotions to increase traffic or on training to increase the conversion rate?
1. Should JoBeth Brenholtz spend more time on the sales floor? Why?
13. Why is it so important that a retailer’s sales personnel be taught that each customer must be contacted by a sales associate each time the customer enters the store? Don’t some customers just want to be left alone to look around?
12. Why is selling so much more important for retailers of services than it is for retailers selling physical products?
11. What should retail salespeople know about customer choice criteria?
10. When you are shopping for yourself, do you appreciate it when the salesperson uses suggestion-selling techniques? Does the type of merchandise make a difference in your answer?
9. A men’s clothing store chain has analyzed the annual sales per salesperson in 10 of its stores nationwide. The sales per salesperson range from a low of $121,000 to a high of $248,000. Develop the list of factors that might help to explain this wide variation.
8. Develop a list of predictor variables you would use to screen applicants for a sales position in (a) a jewelry department in a high-prestige department store, (b) a used-car dealership, (c) a health club, and (d) an antique shop.
7. Shouldn’t all retailers seek to exceed their competition’s level of customer service? Explain the reasoning behind your answer.
6. How does the type of customer affect the level of customer service a retailer should offer?

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Retailing 7th Edition Patrick M. Dunne, Robert F. Lusch , James R. Carver - Solutions

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