Retail Management A Strategic Approach ( Answer thoroughly please ) Chapter 7 What is the difference between a consumer Want and Desire Why is this knowledge important to a Retailer Name and define the six elements involved in Retail Shopping What role do DEMOGRAPHICS and LIFESTYLE play in the consumer decision process What role does the Smart Phone play in influencing the consumer decision process What is Cognitive Dissonance Give an example of it and how a Retailer might deal with it Chapter 8 What is an RIS Why is so critical for surviving in Retail today Major retailers like Walmart and Amazon require potential suppliers to have an EDI solution either their own or an approved third party Why What are the opportunities and potential problems with electronic data interchange (EDI) for a grocery store chain If I only have the following data your gender (sex), age, and residential Zip Code, I can formulate 75 of the product and brand mix in my grocery store What is implied within that statement Explain Millennials, as a retail shopping and buying group (approximately 87 Million strong) are more trusting of their friends and social media network communities, and smart phone technologies than they are traditional advertising What do Retailers need to do meet the shopping and buying demands of this huge consumer group Chapter9 What is trading area overlap Provide an example to demonstrate your understanding Explain Reilly's law Provide an example to demonstrate your understanding What is GIS software and what is its purpose and benefit in Retailing Look at the most recent online edition of the American Community Survey ( www census gov acs www ) for the area in which you live Type in your city, state, and residential zip code number in the Search Bar What retailing related conclusions do you draw from the data presented When a Millennial is shopping on their smart phone for a pair of Sneakers, what is the most important issue for a Retailer marketing Sneakers

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Retail Management:A Strategic Approach ( Answer thoroughly please.)

Chapter 7:

What is the difference between a consumer Want and Desire? Why is this knowledge important to a Retailer?
Name and define the six elements involved in Retail Shopping?
What role do DEMOGRAPHICS and LIFESTYLE play in the consumer decision process?
What role does the Smart Phone play in influencing the consumer decision process?
What is Cognitive Dissonance? Give an example of it and how a Retailer might deal with it?

Chapter 8:

What is an RIS? Why is so critical for surviving in Retail today?
Major retailers like Walmart and Amazon require potential suppliers to have an EDI solution-either their own or an approved third party. Why?
What are the opportunities and potential problems with electronic data interchange (EDI) for a grocery store chain?
If I only have the following data: your gender (sex), age, and residential Zip Code, I can formulate 75% of the product- and brand-mix in my grocery store? What is implied within that statement? Explain?
Millennials, as a retail shopping and buying group (approximately 87 Million strong) are more trusting of their friends and social media network communities, and smart phone technologies than they are traditional advertising. What do Retailers need to do meet the shopping and buying demands of this huge consumer group?

Chapter9:

What is trading-area overlap? Provide an example to demonstrate your understanding.
Explain Reilly's law. Provide an example to demonstrate your understanding.
What is GIS software and what is its purpose and benefit in Retailing?
Look at the most recent online edition of the American Community Survey (www.census.gov/acs/www) for the area in which you live. Type in your city, state, and residential zip code number in the Search Bar. What retailing-related conclusions do you draw from the data presented?
When a Millennial is shopping on their smart phone for a pair of Sneakers, what is the most important issue for a Retailer marketing Sneakers?