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business
retailing management

Questions and Answers of Retailing Management

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
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
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
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
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
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
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
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
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
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”
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
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
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
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
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
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
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
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
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
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
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)
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
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
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
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
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?
What is retailing?
Describe the customer relationship management process. LO11-1
Understand how customer shopping data are collected. LO11-2
Explain the methods used to analyze customer data and identify target customers. LO11-3
Outline how retailers develop their frequent-shopper programs. LO11-4
Explain various ways to implement effective CRM programs. LO11-5
What is a customer relationship management (CRM) program?Describe one CRM program that you have participated in as a customer. LO11-5
Why do retailers want to determine the lifetime value of their customers? How does past customer behavior help retailers anticipate future customer retention? LO11-5
Why do some customers have a low or negative CLV? What approach can retailers take with these customers to minimize their impact on the bottom line? LO11-5
Why do customers have privacy concerns about the frequent-shopper programs that supermarkets offer, and what can supermarkets do to minimize these concerns? LO11-5
Why are most frequent-shopper programs ineffective in terms of building loyalty? What can be done to make these programs more effective? LO11-5
Which of the following types of retailers do you think would benefit most from instituting a CRM program: (a) supermarkets, (b) banks, (c)automobile dealers, or (d) consumer electronics retailers?
Develop a CRM program for a local store that sells apparel and gifts with your college’s or university’s logo. What type of information should be collected about customers, and how could this
What are the different approaches retailers can use to identify customers by their transactions? What are the advantages and disadvantages of each approach? LO11-5
A CRM program focuses on building relationships with a retailer’s better customers. Some customers who do not receive the same benefits as the retailer’s best customers may be upset because they
Describe the process that consumers go through when making retail patronage and buying decisions. LO5-1
Identify the different types of buying processes. LO5-2
Summarize how the economy and social factors affect consumer purchase decisions. LO5-3
Determine why and how retailers group consumers into market segments. LO5-4
Does the consumer buying process end when a consumer buys some merchandise? Explain your answer. LO5-4
What sources of information would a consumer consult if he or she were buying a subscription box (food, cosmetics, clothes, etc.) for the first time? What subjective and objective criteria would be
Considering the steps in the consumer buying process (Exhibit 5–1), describe how you (and your family) used this process to select your college or university. How many schools did you consider? How
In this chapter, we discuss three CVS personalities: “Caroline,” a 18-to 24-year-old new mom with lower income; “Vanessa,” a 35- to 54-year-old women with children, at the peak of her income;
Any retailer’s goal is to get consumers in its store so that they can find the merchandise that they are looking for and make a purchase at this location. How could a sporting goods retailer ensure
How does the buying decision process differ when consumers are shopping on the Internet or a mobile device compared with shopping in a store in terms of locations or sites visited, time spent, and
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 accompanying table). What
Think of a recent purchase that you made and describe how economic and social environmental factors (e.g., reference groups, family, and culture) influenced your buying decision. How are retailers
Think about the merchandise sold at Office Depot/OfficeMax and Staples, and list three to four types of merchandise that fall into extended problem solving, limited problem solving, and habitual
Review the strategic objectives of a retail firm. LO7-1
Contrast the two paths to financial performance using the strategic profit model. LO7-2
Illustrate the use of the strategic profit model for analyzing growth opportunities. LO7-3
Review the measures retailers use to assess their performance. LO7-4
What are the key productivity ratios for measuring the retailer as a whole, its merchandise management activities, and its store operations activities? Why are these ratios appropriate for one area
What are examples of the types of objectives that entrepreneurs might have for a retail business they are launching? LO7-4
Buyers’ performance is often measured by the gross margin percentage. Why is this measure more appropriate than the operating or net profit percentage? LO7-4
A supermarket retailer is considering the installation of self-checkout point-of-sale (POS) terminals. How would the replacement of cashiers with these self-checkouts affect the elements in the
Why do investors place more weight on comparable-store sales than growth in sales? LO7-4
Blue Nile is a jewelry retailer that uses only an Internet channel for interacting with its customers. What differences would you expect in the strategic profit model and key productivity ratios for
Using the following information taken from the 2020 balance sheet and income statement for Urban Outfitters, develop a strategic profit model. (Figures are in thousands of dollars.) LO7-4
A friend of yours is considering buying some stock in retail companies. Your friend knows that you are taking a course in retailing and asks for your opinion about Costco. Your friend is concerned
Identify the critical issues retailers need to consider when designing a store. LO17-1

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