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business
retailing management
Retailing Management 8th International Edition Michael Levy, Barton Weitz - Solutions
Why do some retailers have frequent sales while others attempt to maintain an everyday low-price strategy?
How do retailers evaluate the performance of their merchandise management process?
How do multistore retailers allocate merchandise to stores?
How do retailers plan their assortments and determine the appropriate inventory levels?
What trade-offs do buyers consider in developing merchandise assortments?
How do retailers forecast sales for merchandise categories?
How are merchandise management processes different for staple and fashion merchandise?
What is the merchandise management process?
How can retailers get rid of unprofitable customers?
What can retailers do to alleviate the privacy concerns of their customers?
What do retailers do to increase their share of wallet from their best customers?
How do retailers determine who their best customers are?
What is customer lifetime value?
Why do retailers engage in customer relationship management?
What is customer relationship management?
What is RFID, and how will it affect retailing?
How do retailers and vendors collaborate to make sure the right merchandise is available when customers are ready to buy it?
What are the benefits to vendors and retailers for collaborating on supply chain management?
What information technology (IT) developments are facilitating vendor-retailer communications?
What activities are undertaken in a distribution center?
How do merchandise and information flow from the vendor to the retailer to consumers?
With what legal issues are human resource managers concerned?
What human resource management programs are used for building a committed workforce?
How does a retailer coordinate employees’ activities and motivate employees to work toward the retailer’s goals?
What activities do retail employees undertake, and how are they typically organized?
What major issues face human resource managers?
What are the objectives of human resource management?
What issues are involved in negotiating leases?
Where can retailers get information to evaluate potential store locations?
How do retailers forecast sales for new store locations?
What factors do retailers consider when deciding on a particular site?
What is a trade area for a store, and how do retailers determine the trade area?
What factors do retailers consider when determining where to locate their stores?
Which types of locations are growing in popularity with retailers?
Why are some locations particularly well suited to specific retail strategies?
What are the relative advantages of each location type?
What types of locations are available to retailers?
What measures do retailers use to assess their performance?
What is the strategic profit model, and how is it used to evaluate performance and investment decisions?
What are the two paths to improving financial performance?
How is a retail strategy reflected in a retailer’s financial objectives?
Choose a retailer that you believe could be, but is not yet, successful in other countries. Explain why you think it could be successful.
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
Give an example of a market penetration, a retail format development, a market expansion, and a diversification growth strategy that Best Buy might use.
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.
What steps do retailers go through to develop a strategic plan?
What issues arise as domestic retailers become global retailers?
What different strategic growth opportunities can retailers pursue?
How can a retailer build a sustainable competitive advantage?
What is a retail strategy?
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?
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?
INTERNET EXERCISE Go to the following Internet sites offering information about the latest fashions:www.style.com (Vogue, W ), www.fashioninformation.com (U.K.), and www.telegraph.co.uk/fashion/index.jhtml (U.K.). Write a brief report describing the latest apparel fashions that are being shown by
INTERNET EXERCISE 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 home page at www.esri.com/data/community_data/community-tapestry/index.html, type in the zip
CONTINUING CASE ASSIGNMENT: GO SHOPPING Visit the retail store operated by the target firm for your continuing assignment, and pose as a shopper. Write down all the things that the store does to try to stimulate customers to buy merchandise.
INTERNET EXERCISE: Look up “ Estimated Quarterly U.S. Retail Sales: Total and E-Commerce,”tabulated by the Retail Indicators Branch of the U.S.Census Bureau, at http://www.census.gov/mrts/www/data/html/07Q1table3.html. First, using Excel, create a bar graph of the e-commerce retail sales in
INTERNET EXERCISE Go to the Center for Democracy and Technology’s home page at http://www.cdt.org/, and click on “Consumer Privacy” and then “Privacy Guide” (http://www.cdt.org/privacy/guide/basic/topten.html). Why is privacy a concern for Internet shoppers? What are the top-10
INTERNET EXERCISE Go to the Web sites of J. Crew (www.jcrew.com), JCPenney (www.jcpenney.com), and Lands’ End (www.landsend.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
CONTINUING CASE ASSIGNMENT: GO SHOPPING Assume that you are shopping on the Internet for an item in the same merchandise category you analyzed for the Comparison Shopping exercise in Chapter 2. Go to the retailer’s Web site, and compare the merchandise assortment offered, the prices, and the
When you shop online for merchandise, how much time do you spend browsing versus buying? When you shop in a store for merchandise, how much time do you spend browsing versus buying? Explain your responses.
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?
Why are the electronic and catalog channels so popular for gift giving?
Would you buy clothes on the basis of the way they look on a customized virtual model? Why or why not?
From a customer’s perspective, what are the benefits and limitations of stores? Catalogs? Retail Web sites?
What capabilities are needed to be an effective multichannel retailer?
Why are store-based retailers aggressively pursuing sales through electronic channels?
Bed Bath & Beyond is a category specialist with about 930 stores throughout the United States and Ontario, Canada. It sells domestics (bed linens, bathroom and kitchen items) and home furnishings (cookware and cutlery, small household appliances, picture frames, and organizing supplies). What are
INTERNET EXERCISE Go to Entrepreneur Magazine’s Franchise Zone Web page at http://www.entrepreneur.com/franchises/rankings/franchise500-115608/2009,.html, and view the top-500 franchises for the past year. How many of the retailers in the top 10 have you patronized as a customer? Did you know
INTERNET EXERCISE Four large associations of retailers are the National Retail Federation(www.nrf.com), the Food Marketing Institute(www.fmi.org), the National Association of Chain Drug Stores (www.nacds.org), and the National Association of Convenience and Petroleum Stores(www.nacsonline.com).
INTERNET EXERCISE Data on U.S. retail sales are available from the U.S. Bureau of the Census Internet site at www.census.gov/mrts/www/mrts.html.Look at the unadjusted monthly sales by NAICS.Which categories of retailers have the largest percentage of sales in the fourth quarter (the holiday
GO SHOPPING 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.
Many experts believe that customer service is one of retailing’s most important issues. How can retailers that emphasize price (e.g., discount stores, category specialists, off-price retailers) improve customer service without increasing costs and, thus, prices?
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?
Why are retailers in the limited-assortment supermarket and extreme-value discount store sectors growing so rapidly?
Could a full-line discount store, such as Target or Walmart, be successful opening stores using another retail format, such as convenience stores or department stores? Explain why or why not.
Choose a small, independent retailer, and explain how it can compete against a large national chain.
Distinguish between variety and assortment. Why are these important elements of the retail market structure?
INTERNET EXERCISE Go to the home pages of Macy’s Careers After College (http://www.macysjobs.com/college/), Sears Holdings Corporation College Programs (http://www.searsholdings.com/careers/college), and National Retail Federation Retail Careers Center (http://www.nrf.com/RetailCareers/) to find
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?
From a personal perspective, how does retailing rate as a potential career compared with others you are considering?
Why do retail managers need to consider ethical issues when making decisions?
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
Choose a U.S.-based retailer that wants to open a new store outside the United States for the first time.Which country should it pursue? Why?
How does Walmart contribute and detract from the communities in which it operates stores?
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?
What are the types of ownership for retail firms?
How do services retailers differ from merchandise retailers?
What trends are shaping today’s retailers?
How do retailers differ in terms of how they meet the needs of their customers?
What are the different types of retailers?
What types of decisions do retail managers make?
What career and entrepreneurial opportunities does retailing offer?
Why is retailing important in our society?
What do retailers do?
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