BUS118 RETAIL MANAGEMENT INDIVIDUAL PROJECT Your INDIVIDUAL project involves three separate parts. Use the concepts and knowledge you have learned over the term to complete the assignment. Your recommendations and the detail of your answers will require you to apply the knowledge gained. If you like to shop, youll find this experience insightful and fun. If you dont like to shop, it may not be as much fun but it will still be insightful. We all need to shop at some time, and I think youll learn a lot when looking at the experience through more critical eyes. In summary, this is what you are going to do: Part A: Comparison Shopping Part B: Retailer Analysis Part C: Internet Shopping Analysis PART A: Compare at least seven products among four food retailers on Variety Assortment Service Price Location Promotion Design and Display Type of Retail Institution The form attached will provide guidance for you. You should have seven forms completed for this part of the project. From the information you gather, you are to come to some conclusions about each retailer's strategy. Give as much detail as you can. For each retailer identify: a) The target market the you think the retailer is directing its efforts and why b) How the retailer strives to satisfy the needs of the target market c) How the retailer builds a long-term advantage over the competitors. d) Conclude with how effective you think the retail strategy is for each retailer. PART A PRODUCT # ________________ TYPE OF PRODUCT ______________________________________ STORE #1: Costco STORE #2: Whole Foods STORE #3: Ralphs STORE #4: Trader Jons Variety- How many variations are represented? (How many types of choc. chip cookies?) Assortment - How many Brands of this one type? (Mothers, Keebler, Private label) Any service involved? (Samples, convenient pkg., self-help) Price Location (on shelf, in store) Promotion (Sale, coupons, samples, Design & Display (Special display? facing, signs) Type of Retail Institution Other Comments Product #___: Type of Product_____________________________________________ PART B: Evaluate store layout, design and visual merchandising: (Costco) Go to Costco and evaluate the store layout, design and visual merchandising techniques employed. Be sure to reference the concepts you have learned in your chapters. Explain your answers to the following questions: 1. Appearance A. Is the store layout, design and visual merchandising techniques used consistent with the exterior of the store and the location? What does it say about the type of store this is and the market it is trying to attract? B. Is the store's ambiance consistent with the merchandise presented and the a. Your expectations as a customer? C. Does the store need a face lift, update, remodel or renovation? What a. Improvements would you suggest? 2. Fixtures A. Does the lighting highlight merchandise, structure space, capture a mood, or downplay unwanted features? B. Are the fixtures consistent with the merchandise and the overall ambiance of the store? C. What type of image do the fixtures portray? 3. Promotion A. Evaluate the store's signage. Does it effectively sell merchandise? B. Has the retailer used any theatrical effects to help sell merchandise? C. Does the store make creative use of wall space to sell product? D. Does the sales staff use suggestive selling? E. Is the sales staff friendly and helpful? F. Is the image of the staff consistent with the image of the store? 4. Layout A. Does the store layout help draw people throughout the store? Why or why not? B. How does the layout facilitate purchases? C. What type of layout is used? Would another type of layout be better? 5. Merchandising A. Has the retailer employed any techniques for achieving greater space B. Productivity such as using the "cube," downsizing gondolas and racks, minimizing no-selling space, etc.? C. Are there any displays that increase interest in the products being offered? If not, would you recommend any? D. How has the retailer organized merchandise? What improvements could be made? 6. Summarize your suggestions on how this retailer can improve the shopping experience for their customers, increase sales, and improve their image. PART C: Evaluate Websites. Go to the four retail web sites and shop for a product. For example, if I were shopping for a pair of jeans, I would try to find similar jeans at four different retailers. I might view Victorias Secret, GAP, J. Crew, Levis because they all offer about the same quality and target similar markets. Answer the following questions in detail: A. Identify the retailers you chose and why. B. How do you compare your experience shopping on the Internet to shopping in a local store for this type of product? C. What are the advantages and disadvantages of the Internet shopping experience? D. Compare the retail offerings of the product you were shopping for: a. product quality b. price c. suggestive selling d. website features e. design of website f. ease of website use g. closing of the sale Which one of these sites would you use? Why?