Retailing Management 8th International Edition Michael Levy, Barton Weitz - Solutions

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1. Discuss the retailer’s role as one of the institutions involved in the supply chain.
5. If you were the independent retailer, what would you do? Why?
4. Can the independent retailer breakaway from the other four retailers? How?
3. What about the current independent bicycle retailer that has been in the market the longest? Is the retailer in a dangerous place?
2. What could happen to change the current market structure?
1. What market structure best describes the current market conditions for these four retailers—Trek, Erik’s, Dick, and Target? Given the market structure you have chosen, in what manner do the current retailers compete?
14. Is it better for a retailer to develop a new private-label brand or to try to revive a once-prestigious brand that has been discontinued? Explain your reasoning.
13. Several possible explanations were given as to why retailers from smaller countries tend to do better when entering foreign markets then those from larger countries. Do you agree or disagree with these explanations? Explain your reasoning.
12. What do you think about the projected growth of the rental format? Would you rent your textbooks if an outlet was available on your campus? If your best friend was getting married, would you consider renting a gown, handbag, or jewelry to wear for the rehearsal dinner?
11. If a new retail format is a hit in one country, it generally will be successful in all countries. Agree or disagree?
10. Will the Internet ever completely replace traditional bricks-and-mortar retailing? Provide a rationale for your response.
9. If a retail format enters the decline stage of the retail life cycle, does that mean that this format will be gone within the next decade? Or can it linger in the decline stage for years? Can a format ever reposition itself and return to either the growth or maturity stage? Can you think of any
8. Would strategies for retailers differ in the four stages of the retail life cycle?What strategies should be emphasized at each of the four stages?
7. Describe the retail accordion theory of competition. What are this theory’s major strengths and weakness?
6. Describe the wheel of retailing theory. What are the theory’s major strengths and weakness? Does this theory do a good job of explaining what has happened to American retailers today?
5. Someone once said that ‘‘the supercenter format will kill the grocery retailers.’’ However, this hasn’t happen. Can you think of an explanation as to why this hasn’t occurred?
4. Can divertive competition occur only in intertype competition—that is, where two different types of retailers with a similar product compete with each other?
3. Provide an example of intratype competition that was not mentioned in the text. Provide an example of intertype competition that was not mentioned in the text. Can a retailer face both intratype and intertype competition at the same time? Explain your response.
2. Why is it so important for a retailer to develop a protected niche?
1. Can a retailer ever operate in a pure monopoly situation? If you believe that this is possible, provide an example and explain what dangers this retailer faces. If you believe this is not possible, explain why not.
4. Describe the changes that could affect retail competition.
3. Describe the four theories used to explain the evolution of retail competition.
2. Distinguish between various types of retail competition.
1. Explain the various models of retail competition.
3. Because she is the manager of the mall’s largest store, not only will other managers look to Pat Snyder for advice but also she carries considerable influence with Ms. Donnelly. What should Pat Snyder do? Why?
2. What do you think of each of Pam Donnelly’s ideas? What population and social or economic trends support your conclusion(s)? Why?
1. Based on Chapter 1’s discussion of both the creative and analytical approach, are Pam Donnelly’s ideas sufficiently creative to attract new business (sales), and what analyses should she have undertaken before making these recommendations?
12. Why should a retailer care about a customer after a sale has been made?
11. Does a consumer begin the shopping and purchasing process at the needrecognition stage?
10. Why is the consumer shopping and purchasing model presented within the text called a process model? Explain how understanding this process could affect a retailer’s actions.
9. How are retailers affected by the fact that today’s college students are graduating with a highest amount of student debt ever? Can you give an example where this will help a retailer? Will this hurt any retailers?
8. In recent years, the net wealth of the average American has grown at a slower rate, if not declined. Should retailers worry about this? Why?
7. Why is it more difficult for retailers to manage their businesses when economic turbulence is high?
6. Which recent trend—parents returning to live with their children or children returning to live with their parents—is going to have the most significant impact on retailers? What can retailers do to take advantage of these trends?
5. Should retailers care about trends such as the delay or even postponement of marriage by modern Americans? After all, how does this affect apparel retailing? restaurant retailing? home furnishing retailers?
4. What strategies should retailers develop given the higher level of educational attainment today? Explain your reasoning.
3. It is important for a retailer to understand that as boomers age, they change their shopping behavior. Can you provide one example from current events where a retailer successfully adapted to this changing behavior? Can you provide an example where a retailer hasn’t done a good job of adapting
2. Between 2010 and 2050, what type of retailers will be most affected by changes in the ethnic makeup of the population? Will these same retailers be affected by the changing age distribution?
1. During the recent recession, some so-called retail experts urged retailers to cut expenses to the bone and not to worry about their customer-service levels. Was this a good idea? What is the reasoning behind your answer?
4. Discuss the consumer shopping and purchasing model, including the key stages in the shopping and purchasing process.
3. Describe the changing economic trends and their effects on retailing.
2. List the social trends that retail managers should regularly monitor and describe their impact on retailing.
1. Explain the importance of population trends on retail planning.
2. If Macy’s continues as a national brand, other than merchandising to local tastes, what can be done to make the store more local?
1. How should Macy’s balance the strength in advertising and promotion from having a national branded store with the strength that comes from having a locally branded store? After all, do consumers in Chicago care that much about a Thanksgiving Day parade in New York City?
12. Why is it so important for a retailer to seek high-profit performance? Isn’t it enough to be above average?
11. A person once said, ‘‘A good manager can overcome a bad plan.’’ Agree or disagree with this statement and explain your reasoning. Use current examples, if possible, in your answer. Would your answer be the same if the person said, ‘‘A good plan can overcome a poor manager?’’
10. When doing the strategic planning and operations management tasks described in our model, does the retailer use creative thinking or analytical problem solving?
9. Does strategic planning become more or less important as the uncertainty the retailer faces increases?
8. What are the major environmental forces that retailers will face over the next five years? Is any one of these more important than the others?
7. Many retailers use their loyalty cards, such as that described in the chapter’s‘‘What New?’’ box, to gather information about customers. Are they invading their customers’ privacy? Should this be allowed? After all, how would some of your classma
6. An automobile dealer located near your campus visits your class. During her presentation, she notes that her mission statement is ‘‘We will provide the best vehicle sales and service experience for our customers. We will do this in a way that will foster the continuous improvement of our
5. Choose any two supermarkets operating in your college area or hometown.Compare and contrast their retail mix as they seek to satisfy the needs of their target market given their present location. What changes would you suggest to the management of these retailers as they develop their strategic
4. Can a mission statement be too narrow in scope? Can it be too broad in scope? Explain your answers.
3. Most college students have either strong favorable or unfavorable opinions of their campus nightspots. Suppose you were asked to advise one of the businesses near your campus, what suggestions would you make for it to differentiate itself?
2. How do the retail firm’s mission statement and its stated goals and objectives relate to the retailer’s development of competitive strategy?
1. Why is strategic planning so important in retailing today? Should a retailer, even a small retailer, always have a strategy to change the rules of the game as it is currently being played? Why?
2. Describe the retail strategic planning and operations management model, which explains the two tasks that a retailer must perform and how they lead to high profit.
1. Explain why strategic planning is so important and be able to describe the components of strategic planning: statement of mission;goals and objectives; an analysis of strengths, weaknesses, opportunities, and threats; and strategy.
5. What should your uncle do?
4. What other data would you suggest that your uncle consider before making any decision?
3. What other creative ideas would you suggest to your uncle?
2. What would happen to those families who want a traditional funeral in a chapel?Would your uncle lose their business?
1. Do you think couples would mind being married in a chapel located near a funeral home, even if it had a separate entrance and was beautifully decorated?
10. Visit a local retailer that you would describe as creative and seek to determine which analytical skills that retailer also possesses.
9. To be successful in retailing, which skill is most important: being creative or being analytical? Why?
8. What kind of leadership skills does it take to be successful in retailing? Isn’t leadership the most important prerequisite for success in retailing?
7. What concepts or techniques from economics, fashion, accounting, or information systems do you believe would be most useful in retail decision making?
6. Isn’t it better for a retail chain to always use a standard stock list? After all, it would confuse a customer if a JCPenney’s in Chicago is different than one in Miami.
5. How can a retailer operate with a high-margin, high-turnover strategy?Won’t customers avoid this type of store and shop at a low-margin store?
4. Currently, there is a great deal of debate about the future impact of the Internet on retailing. Which of the following items—a vacation package for spring break, a wedding gift for a friend, a pair of jeans for yourself, or an end table for your apartment—would you be least likely to
3. What factors are contributing to the recent trend of decreasing store size?
2. Is scrambled merchandising really a good idea? Does it make sense that if you are good in one area of merchandising that you will be good in all areas? Talbots, after all, is excellent in merchandising fashionable women’s clothing but failed in selling men’s and kids’ clothing.
1. Wouldn’t a country be better off with fewer retail outlets? After all, with fewer stores, consumers would not waste money making impulsive purchases, and they would save more.
4. Explain the different methods for the study and practice of retailing.
3. Understand what is involved in a retail career and be able to list the prerequisites necessary for success in retailing.
2. Describe the five methods used to categorize retailers.
1. Explain what retailing is and why it is undergoing so much change today.
Consider a recent retail service experience you have had, such as a haircut, doctor’s appointment, dinner in a restaurant, bank transaction, or product repair (not an exhaustive list), and answer the questions below:a. Describe an excellent service delivery experience.b. What made this quality
How could an effective customer service strategy lower a retailer’s costs?
Gaps analysis provides a systematic method for examining a customer service program’s effectiveness. Top management has told an information systems manager that customers are complaining about the long wait to pay for merchandise at the checkout station.Taking the role of the systems manager, use
Review Retailing View 18.2, about customer service at IKEA. How does this retailer utilize a self-service model as a competitive advantage strategy, compared to traditional furniture stores?
INTERNET EXERCISE Visit Amazon.com and shop for a best-selling book. How does the Web site help you locate best-sellers? How does the customer service offered by this Web site compare to the service you would get at another book retailer’s Web site or in a bricks-and-mortar bookstore?
INTERNET EXERCISE Bizrate (www.bizrate.com)is a company that collects information about consumer shopping experiences with electronic retailers. Go to Bizrate’s Web site, and review the evaluations of different retailers that sell products electronically. How useful is this information to you?
CONTINUING ASSIGNMENT Go to a local store outlet of the retailer you selected for the Continuing Assignment, and describe and evaluate the service it offers. What service is offered? Is the service personalized or standardized? Ask the store manager if you can talk to some customers and
Complete the table below by briefly describing how the different retail formats could use each of areas listed to enhance the store’s image and atmosphere.
What are the pros and cons for both centralized cash wraps and departmental cash wraps for stores such as JCPenney and Kohl’s?
Describe the ways in which designing a Web site is similar to and different from designing a physical store layout.
INTERNET EXERCISE Go to the home page of ACNielsen to read about the Nielsen retail measurement products Shelfbuilder and Spaceman (http://en-us.nielsen.com/content/nielsen/en_us/product_ families/nielsen_retail_measurement/fact_sheet_ library.html). How can retailers use these tools to optimize
INTERNET EXERCISE Go to your favorite multichannel retailer’s Internet site. Evaluate its degree of simplicity, ease of navigation, readability, use of color, consistency with the brand image, and similarity of pricing and merchandise offered with those at its bricks-and-mortar stores.
INTERNET EXERCISE Read the description of IntelliVid video intelligence software for the retail industry at www.americandynamics.net/products/IntelliVid_Video_Intelligence.aspx. How does this high-tech system help retailers reduce shrinkage, track suspicious behavior, and support loss prevention
Drugstore retailers, such as CVS, place diabetic test strips and perfume behind locked glass cabinets and nearly all over-the-counter medicines behind Plexiglas panels. These efforts are designed to deter theft.Describe how these security measures influence honest customers.
List the skills, knowledge, and abilities that can be successfully taught to new retail employees through an orientation program, a formal training program, and on-the-job training.
Explain how changing demographics of the workforce are affecting staffing and recruiting efforts for retail sales and management positions.
When evaluating retail employees, some stores use a quantitative approach that relies on checklists and numerical scores similar to the form in Exhibit 16–6.Other stores use a more qualitative approach, whereby less time is spent checking and adding and more time is devoted to discussing
Many large department stores, such as JCPenney, Sears, and Macy’s, are changing their salespeople’s reward system from a traditional salary to a commission-based system. What problems can incentive compensation systems cause? How can department managers avoid these problems?
What’s the difference between extrinsic and intrinsic rewards? What are the effects of these rewards on the behavior of retail employees? Under what conditions would you recommend that a retailer emphasize intrinsic rewards over extrinsic rewards?
Using the interview questions in Exhibit 16–4, roleplay 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.
Give examples of a situation in which a manager of a McDonald’s fast-food restaurant should utilize different leadership styles.
How do on-the-job training, Internet training, and classroom training differ? What are the benefits and limitations of each approach?

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Retailing Management 8th International Edition Michael Levy, Barton Weitz - Solutions

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