Please help me with the questions found in the 2 attachments.
Tulsa Plaza Robin Martin is the General Manager of Tulsa Plaza, which is the largest department store in Tulsa Oklahoma. This department store has several clothing sections, a food court, an electronics section, three shoe stores, a pharmacy, two cell phone service providers, two jewelry stores, an optical store, a housewares section and a furniture section. Tulsa Plaza's financial statement indicates that its net income increased by 10% from 2019 to 2020. The Outlet Malls Over the last decade, Robin has watched with interest the phenomenal growth in factory outlet malls. Factory outlet malls are places where clothing, shoe and bags manufacturers such as Coach, Nike, Ralph Lauren, Van Heusen and Levi sell their brands directly to consumers. Consumers are attracted to these outlets because they expect lower prices since the middlemen (wholesalers and retailers) have been eliminated. They also like the idea of hunting through all that the manufacturer has to offer that may not be available in department stores such as Tulsa Plaza. After all retailers can only carry selected pieces from the manufacturer with whom they do business. The Discount Chains Tulsa Plaza is also in direct competition with discount chains such as Target and Walmart, though these chains carry mostly food items along with smaller selection of clothing, shoes and household items. The discount stores compete on the basis of their better prices (as compared to Tulsa Plaza) and through frequent sales. The Tulsa Resort Outlet Mall Yesterday, Robin got frightening news. She heard that a new outlet mall with eighty (80) manufacturer's stores to be established in a vacation resort area on the outskirts of Tulsa, some seventy (70) miles away from Tulsa Plaza. This morning Robin drove on the very busy interstate highway to the planned outlet mall site and happens to see the project developer, Ricky Reed getting out of his car. Robbin took the opportunity to express her fears about the new competition to Ricky. He disagreed. He said "Robin, you have to understand that this new outlet mall will be focusing on a different target market. For one thing, our target market will have higher income than yours. We fully expect that by locating in this area, about one third (1/3) of our customers will have incomes higher than $100 000. In addition we expect that our customers will make the shopping trip part of their vacation and spendone or two full days at the mall. That is why we have tripled our parking to accommodate camper/ recreational vehicles (RV)". He also indicated to Robin that the outlet mall's prices would be less than Tulsa Plaza's but not as low as Walmart or Target. He believed that the outlet mall's variety and selection would be an even greater attraction than its prices. Ricky felt that Robin could take comfort in the fact that her customers may not want to travel the 70 miles to the outlet mall to shop. Tulsa Plaza Customer Profile Tulsa Plaza has a mix of lower, upper and middle income customers. Robin's analysis of Tulsa 2018 performance, indicate that they did very well in the stores frequented by the Hispanic and Chinese immigrants to Tulsa. The Tulsa Chamber of Commerce, projects that immigration into Tulsa will continue to grow into 2022, due to job opportunities into restaurants and factories. Chinese shoppers in particular seem to like the department store concept. A recent survey of Tulsa shoppers uncovered that a sizeable proportion of the immigrant shoppers wanted some place to buy ethnic Chinese and Latin Americans foods. Like Tulsa, Austin, Texas is also projected to grow through immigrant growth into the year 2025. Required: a) Discuss the threats and opportunities facing Tulsa Plaza. b) Do you agree with Ricky Reed's assessment of Tulsa Plaza competitive position? If yes, why? If no, why not? c) Select two of the forces in Porter's Five Force Model. How would Porter assess the expected future profitability of Tulsa Plaza based on those two forces? d) Give two recommendations for Robin to maintain and improve the financial performance of Tulsa Plaza