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business
retailing management

Questions and Answers of Retailing Management

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
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
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?
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
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.
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
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,
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
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
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
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
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
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
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
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_
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
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
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
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
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
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
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?
Go to the home page for Target’s Pressroom at http://pressroom.target.com/pr/news/news.aspx. How does this retailer use public relations to communicate with investors and customers? Is this an
Trader Joe’s is a gourmet grocery store offering items such as health foods, organic produce, and nutritional supplements. The company has about 325 stores in 25 states at which it offers more than
Retailers and manufacturers deliver coupons through the Internet in addition to delivering them by mail or as inserts. Go to www.coolsavings.com for coupons offered over the Internet. How does this
Go to the home page for BrandZ at www.brandz.com/output/, and click on “Retail Report.” On the basis of the report, list the top-20 global retail brands.In two or three paragraphs, describe what
Where do you think pop-up stores would be most successful? Why? What type of merchandise would sell well from this format? Explain.
Retailers use television advertising to build brand image.Television advertisers have identified many types of markets on the basis of the day, time, and type of show during which their ads may
Review Exhibit 15–2, “Kinds of Sales Promotion,” and describe which of these consumer promotions have been successful with you as a consumer. Which ones have not been successful? Explain your
How can brand strategy, advertising, personal selling, public relations, direct marketing, and sales promotion complement one another in an integrated marketing communication program? How can a
Reread Retailing View 14.2, “Hey, Wanna Buy a Ticket?” Describe how supply and demand can impact the price of tickets for sporting events, concerts, and other entertainment. How does the
Why would retailers risk violating any of the legal issues discussed in this chapter, such as predatory pricing, price fixing, deceptive pricing, bait and switch, or discriminatory pricing? Explain
When you go shopping, in which product categories do you prefer private labels or national brands? Explain your preference.
Explain why a grocery store, such as Kroger, offers more than one tier of private-label brands within a particular product category.
Does your favorite clothing store have a private-label brand strategy? If yes, how does it build store loyalty?If no, how could a private-label brand create loyalty?
What are the advantages and disadvantages of manufacturer’s brands versus private-label brands? Consider both the retailer’s and customer’s perspectives.
What is the difference between counterfeit, graymarket, and black-market merchandise? Is the selling of this type of merchandise legal? Do you believe that selling these types of merchandise should
Assume you have been hired to consult with The Gap on sourcing decisions for sportswear. What issues would you consider when deciding whether you should buy from Mexico or China or find a source
Go to your favorite food store, and look up the prices for the items in the following table. Be sure to select the same-size packages for this price comparison of manufacturer’s brands and store
Read the “Recession, Recovery & Store Brands” report based on an exclusive survey of shopping attitudes by GfK Custom Research North America for the Private Label Manufacturers Association
Go to the home page for the Private Label Manufacturers Assciation (PLMA), and read the “Market Profile,” which can be found at www.plma.com/storeBrands/sbt05.html. What are store-brand
Read the article “NBA Warns Fans about Counterfeit Products” posted at http://cbs11tv.com/local/NBA.Counterfeit.Merchandise.2.1481903.html. Follow the story’s link to the home page for the
CONTINUING ASSIGNMENT Go visit the retailer you have selected for the continuing assignment and perform an audit of its manufacturer’s and private brands. Interview a manager to determine whether
A buyer is trying to decide from which vendor to buy a certain item. Using the information in the table below, determine from which vendor the buyer should buy. VENDOR PERFORMANCE Importance Weight
A buyer at a sporting goods store in Denver receives a shipment of 400 ski parkas on October 1 and expects to sell out by January 31. On November 1, the buyer still has 350 parkas left. What issues
How and why would you expect variety and assortment to differ between a traditional bricks-and-mortar store and its Internet counterpart?
WEB OLC EXERCISE The vendor evaluation model utilizes the multiattribute method to evaluate vendors. Go to the student side of the Online Learning Center, and click “Vendor Evaluation
WEB OLC EXERCISE The merchandise budget plan determines how much merchandise should be purchased in each month of a fashion buying season(in dollars), given the sales and reduction forecast,
INTERNET EXERCISE Go to www.sas.com/industry/retail/merchandise/index.html, the SAS Merchandise Intelligence Web site. How does the SAS Merchandise Intelligence product provide retailers with
INTERNET EXERCISE Go to the home page of the following three retail trade publications: WWD at www.wwd.com/, Chain Store Age at www.chainstoreage.com/, and Retailing Today at
GO SHOPPING Visit a big-box office supply store and then a discount store to shop for school supplies.Contrast the variety and assortment offered at each.What are the advantages and disadvantages of
IN-STORE OR INTERNET EXERCISE Go to the store location or home page of a craft store such as Michaels Stores, Jo-Ann Fabric and Craft Stores, or A.C. Moore Arts & Crafts (www.michaels.com,
INTERNET EXERCISE Go to the home page of Merchandise Management Company (MMC), the exclusive merchandising service partner for Kohl’s, at www.merchmanco.com/Default.aspx. Watch the three-minute
CONTINUING EXERCISE Go to a retailer’s store, and audit the variety and assortment for a specific merchandise category. Record the breadth and depth of the assortment and the level of support
How would a retailer use transactions, customer contacts, customer preferences, descriptive information, and responses to marketing activities in its customer database?
What are some examples of opportunities for add-on selling that might be pursued by (a) travel agents, (b)jewelry stores, and (c) dry cleaners?
INTERNET EXERCISE Go to the home page of 1-800-Flowers at www.1800flowers.com, and read about the Fresh Rewards program. How does this company’s CRM program help it to track its best customers,
INTERNET EXERCISE Go to Macy’s credit card home page at www1.macys.com/service/credit/overview.ognc. Read about the different levels of membership for this customer rewards program.Describe how
CONTINUING ASSIGNMENT Interview the store manager working for the retailer you have selected for the Continuing Assignment. Ask the manager if the store offers a frequent-shopper/loyalty program and
INTERNET EXERCISE Go to the home page of Stores Magazine at www.stores.org/, and search for supply chain in the current issue. Summarize one of the recent articles, and explain how the key
CONTINUING ASSIGNMENT Interview the store manager working for the retailer you have selected for the Continuing Assignment. Write a report that describes and evaluates the retailer’s information
Reread Retail View 10.2 about Netflix. How is this online retailer using inventory management and distribution centers to deliver the correct movies requested by customers?
What type of merchandise is most likely to be crossdocked at retailers’ distribution centers? Why is this often the case?

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