LU$1-4$: This Part covers the first four Learning Units. You will need to decide on the type and

nature of brand or product you intend to use to demonstrate your understanding of retail

management for this POE.

Please Note:

$$ Your answers must have a sound theoretical foundation. Cite theory first, and then apply.

$$ Use your prescribed textbook as a starting point and then conduct additional research.

$$ Only use credible sources and reference ALL theory points.

$$ Adopt an appropriate academic tone and check your spelling and grammar.

$1.$ Briefly describe your brand or product $.$ Include the details about this type of

products to be sold and who you envisage your customers to be$.$

$(5)$

$2.$ Retailers provide essential services for the manufacturers of the product they sell.

Firstly, they overcome gaps between manufacturers and customers, and secondly$,$

they perform a range of functions in the marketing channel.

$$ Identify and explain one main gap between your manufacturers and

customers you believe your retailer will fill. Justify your choice.

$$ Identify the top two functions your retailer will perform for your manufacturer

in the marketing channel.

$(5)$

$3.$ Compare the first stages of the Wheel of Retailing and the Retail Lifecycle and

further evaluate which theory best describes your retailer at start up$.$

$(10)$

$4.$ You will need to be alert to the broader environment in which your brand or product

operates within.

$$ Explain one technological trend, apart from online retailing, that you intend to

make use of in your store. $(10)$

$$ Evaluate which of the main social and cultural trends in the retail environment

you believe will be most important for your retailer.$(10)$

$(30)$

$22$; $23$; $242024$

$$ The Independent Institute of Education $($Pty$)$ Ltd $2024$

Page $7$ of $25$

$$ Identify one current economic condition in South Africa and analyse how this

may impact your customer's behaviour. $(10)$

$5.$ Consumers shop for several motives other than buying. Based on the nature of your

store, state which personal or social motives you believe your store will most appeal

to$.$ Motivate your answer.

$(10)$

$6.$ There are likely to be risks customers may perceive when buying your products.

$$ Identify the main risk you believe your customers will be worried about. Justify

your choice. $(10)$

$$ Provide suggestions for how you could reduce this risk perception. $(10)$

$(20)$

$7.$ Choosing a suitable location for your retail outlet will be key to your success. Based

on theory in Learning Unit $4,$ describe in detail the ideal location for your store.