A store that sells highly-specialized merchandise, top of the line products and premium brands fall into which stage of the wheel of retailing? a. Maturity b. Vulnerability c. Trading up d. Innovation
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- In which stage of the wheel of retailing is a store most likely to decline or entirely collapse? a. Trading up b. Innovation c. Maturity d. VulnerabilityThe wheel of retailing mentions three phases for retail life cycle. The retailer attempts to up market location, offer exotic services, and elaborate facilities in_____stage. A.Vulnerability B.Trading up C.Entry D.MaturityAs a consumer, would you rather shop at a store that featuresa sale once a month or a store that practices everyday lowpricing (EDLP)? Why?
- 1. What are 2 ways in which your company can avoid a disruption created by a regular vendor that cannot deliver a component of a product you make? 2. Describe one advantage and one disadvantage for the Push business modelCrirical Thinking Most retail store shrinkage can be atlfibuted to shoplifting, employee theft, and retail borrowing. What are some ways that retail store managers can limit or stop shrinkage? What are some problemsinherent in security practices? Should retailers createstricter merchandise return policies?Imagine that you own a small specialty store that sellshandcrafted clothing and jewelry. What are some of thenonstore retail options you might explore to increasesales? What are the advantages and disadvantages ofeach option?
- 1.What is your favorite consumer goods retailer? Discuss the criteria you have used in making your selection. What can a competing firm do to lure you away from your favorite firm? Apply your answer to retailing in general. 3. Define the term "total retail experience." Then describe a recent retail situation in which your expectations were surpassed and state why.why omnichannel is regarded as a crucial retail strategy to adopt, regardless if you are a brick-and-mortar, brick-and-click or a pure e-commerce retailer, and the main challenges of a pure e-commerce retailer when to implement a successful omnichannel business model.How is door-to-door selling a form of retailing? Someconsumers believe that direct-response orders bypassthe retailer. Is this true?
- The wheel of retailing helps explain the evolution of firms that enter a market on a shoestring budget and gain customers by offering lower prices. It suggests that once a customer base is established, the retailer begins offering higher-end products, more upscale facilities, and better service. ) a) True () b) FalseDiscussion questions that I need help on, these are in the Retailing Management textbook, chapter 2: types of retailers. 1.) Distinguish between variety and assortment. Why are these important elements of the retail market structure? 5.) Why is Walmart, the largest retailer in the world, facing slower growth than in the past? What can it do to accelerate its growth? 6.) Why are retailers in the limited-assortment supermarket, online grocery retailing, and extreme-value discount store sectors growing so rapidly? From which retailers are they getting these additional sales? 8.) Choose a product category that both you and your parents purchase (e.g., business clothing, casual clothing, music, electronic equipment, shampoo). In which type of store do you typically purchase this merchandise? What about your parents? Explain why there is, or is not, a difference in your store choicesPretend that you are one of the aspiring retailer how will you plan your retail store to corner the market and be the best retailing decisions any retailer made?