Chat with us, powered by LiveChat Remember a retailer sells to the & ultimate consumer; You need to choose a retailer with a physical store presence who sells a physical product – otherwise it will be difficul - Writingforyou

Remember a retailer sells to the & ultimate consumer; You need to choose a retailer with a physical store presence who sells a physical product – otherwise it will be difficul

do questions "pricing – recommendations for the retailer" 

the retail store I chose was Apple. 

the link for the textbook website is 

https://studylib.net/doc/25876772/retail-management

RETAIL STRATEGY FINAL PROJECT

Instructions:

1) Group project with no more than 2 people in a group. I would strongly encourage you to find a group member as working on this alone can be time consuming.

2) Research paper should be written in paragraph form, double spaced, 12 font with the preset (normal) margins.

3) The paper needs to include a table of contents

4) In the paper, use the headings and sub-headings listed below and write in paragraph format. Your paper will not be graded if it does not include these headings/sub-headings.

5) The headings and sub-headings are just a guideline and depending on the retailer/your research, you can add more to these. Refer to each chapter to know what other information you can provide about a particular topic

6) There are no limitations on the number of pages

7) It is okay to split the work but assign one person to put everything together so that the document flows well (as though written by one person)

8) For each of the sections of the final project make sure to go back to the appropriate chapters and provide your answers based on the information provided in the textbook/recorded lectures

Select a retailer. Remember a retailer sells to the "ultimate consumer." You need to choose

a retailer with a physical store presence who sells a physical product – otherwise it will be difficult to complete this project.

Your paper should include the following. The topics listed below are just suggestions and depending on the organization that you choose, you should provide additional information.

· 5 points: Formatting, grammar, clarity in writing

· 5 points: Executive Summary (why the reader is reading the document and highlighting your key findings. Write it after you finish the paper)

· 5 points: History of the Company (use the Internet to research this):

· How long have they been in business?

· How has their business changed over the years?

· What is their mission statement?

· Do they plan to expand, penetrate, diversify or change their retail format in the near future?

· 5 points: Target Market:

· Demographic characteristics of their target customer (age, gender, income level, education etc.)

· Psychographic characteristics of their target customer

· 10 points: Merchandise Assortment: You may have to visit the store to find information about these.

· What are the major brands they carry?

· Do they have private label brands?

· Where does this retailer's merchandise fit on the category life cycle? (Chapter. 12)

· Does this retailer carry convenience goods, shopping goods or specialty goods? (Chapter. 7)

· 5 points: Store Location

· Where is this retail store located? (CBD, Shopping Center, Specialty Center, MXD)

· Why do you think they chose this location?

· Is this site accessible for the customer?

· 5 points: Omni-Channel Strategy

· Describe the retailer’s presence in other channels (website, catalog etc).

· Is the retailer able to present a similar image across all its channels? How do you prove this statement?

· 10 points: Pricing:

· What is this stores pricing policy? (Everyday Low Pricing, High/Low Pricing etc.)

· What other practices do they use to compete with price? (Coupons, Rebates, Price Bundling)

· Is there a frequent shopper program?

· 10 points: Communication Mix:

· What type of paid advertisements does this business use?

· What type of unpaid communication does this business use? (Publicity)

· Does this retailer use cooperative advertising? With whom?

· What type of sales promotions does this retailer use? (Sales, Sampling, Demos, Contests etc.)

· 10 points: Store Layout: (Visit store if possible or provided answers based on previous visit)

· What type of design layout does this store use? (Grid, Racetrack, Free Form etc.)

· Is it effective for customer flow?

· What type of fixtures do they use?

· What type of lighting are they using?

· Is music constantly playing? What type?

· What type of scent is in the store? Does it detract or attract?

· 10 points: Customer Service: (Visit store or website)

· What type of services does this store offer? (Alterations, gift wrapping etc.)

· Talk to 3 customers (it could be your family or friends who have visited this store in the past) – What is their perception of this stores customer service? How does this store handle customer complaints?

· What is their return policy?

· 10 points: Competitive Advantage: (This section should be 2-3 paragraphs minimum — think critically about it!)

· Does this retailer have a sustainable competitive advantage over similar stores?

· Refer to the Retail Strategy chapter to outline their SCA

· How can they retain this advantage or achieve an advantage over their competition?

· 10 points: Recommendations for the retailer

· Based on your research, what does the future hold for this company?

· Provide your own examples of the four different growth strategies (Refer to Retail Strategy chapter) available for this retailer?

· What operational and/or strategic recommendations will you provide them to remain successful in the future