retail management questions 1
1. Explain the importance of two specific demographic & lifestyle trends on retail planning.
2. Using the consumer decision model, describe ways social media could impact consumer purchase decisions.
3. What attributes would be most important in evaluating retail sites for an ice cream shop and a men’s shoe store?
5. Discuss how a retailer’s target strategy would differ for a store based and non-store based operation.
6. Think back to the Louis Vuitton corner location (pictured in Chp 10 slides). Assuming this optimal site, what steps lead to this decision and which attributes would be key in making this decision.
7. Discuss the differences between a routine, limited, and extended purchase. Provide examples of each.
8. Describe differences in target market approaches for mass, concentrated, and differentiated retailers. Provide examples.
9. Sarah has decided to open a children’s apparel shop in her community. Ben suggests doing a trade area analysis. Explain the purpose of such an analysis and its potential benefits.
10. Sarah is preparing to sign a lease for her apparel shop. She asks your advice in deciding between a straight or maintenance-increase recoupment lease. Explain the advantages and pitfalls of leasing and between the two types.
