You have been tasked to develop a retail strategy for your community as a retail specialist with the ability to adapt the retail concepts to your local environment:

a. Describe the characteristics of your community and state how you will segment that market 

b. Examine three (3) criteria to justify your segmentation 

c. Develop a retail format using five retail mix to target the market and discuss how you would use the mix in achieving your objective 

QUESTION 2

a. Identify and describe an area you would consider as a trading area in Ghana 

b. Analyze five (5) factors you would consider to locate your retail business in a trading area 

QUESTION 3

You want to have a cup of real coffee in the morning and you want to buy a coffee maker. Think of all the retailers you could buy a coffee maker from. You could buy a coffee maker from a department store a discount store or a category specialist. All these retailers are competing against each other with different offerings. Examine the basis of their retail offerings.

QUESTION 4

Making the right decisions to create value for consumers is very important in developing competitive advantage over competitors. Examine the retail management decision process with particular reference to Ghana.

QUESTION 5

In an induction training session for multinational retail outlet, the marketing manager in addressing the new employees said “one of their business philosophies is customer relationship management” and asked them whether they know what it is and its process. If you were one of the employees;

a) How will you explain the term “Customer Relationship Management” using at least THREE (3) practical examples?

b) Discuss with examples FIVE (5) activities that the retailer needs to undertake to achieve effective Customer Relationship Management?

Answer rating: 100% (QA)

Answer 1 Segmentation is the process of dividing a market into distinct groups of consumers with similar needs or characteristics There are many different ways to segment a market but the most common ... View the full answer