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Retail Assingment

This document provides instructions for a retail strategy project. Students are asked to select a retailer, interview the manager, and write a research paper analyzing the retailer's history, target market, merchandise, human resources, store location, pricing, communication mix, store layout, customer service, and competitive advantage. The paper should be 6-10 pages based on the interview and address each specified topic. A presentation on the findings is also required.

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40 views

Retail Assingment

This document provides instructions for a retail strategy project. Students are asked to select a retailer, interview the manager, and write a research paper analyzing the retailer's history, target market, merchandise, human resources, store location, pricing, communication mix, store layout, customer service, and competitive advantage. The paper should be 6-10 pages based on the interview and address each specified topic. A presentation on the findings is also required.

Uploaded by

anandsvs
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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RETAIL STRATEGY PROJECT

Instructions:
Each group should write this research paper in paragraph form, double spaced, 12 font with the preset
(normal) margins. Please use the headings listed below. A well researched paper should be at least 6-10
pages long.
First step - Select a retailer. Remember a retailer sells to the "ultimate consumer." You need to choose a
retailer with a physical store who sells a physical product. If you are thinking of opening your own store,
choose a retailer that sells the same type of merchandise that you would like to sell. ( Ex: music store,
pizza shop, furniture store, apparel boutique, hardware store etc...)
Second step - Interview the manager or owner at the retail store you selected. This is a required part of your
project. Your paper should include the following:
A. History of the Company:
 Who did you interview? (Full name and position.) 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?

B. Retail Strategy
1. Who is their Target Market:
 Define their customer according to demographics (age, gender, income level, education etc.)
 Trade Area - primary, secondary, tertiary

2. Merchandise Assortment:
 What are the major brands they carry?
 Do they have private brands?
 Where does this retailer's merchandise fit on the category life cycle?
 Why do you think they chose this stage of the life cycle? Does this retailer carry convenience goods,
shopping goods or specialtygoods?

3. Human Resources:
 How does this store prepare and train their sales people?
 Are they paid on commission, salary or hourly wage?
 Are the sales people allowed to cross sell? (if there are separate departments)
 Do they outsource any activities in their business?

4. Store Location:
 Where is this retail store located? (CBD, Shopping Center, Specialty Center)
 Why do you think they chose this location?
 Is this site accessible for the customer?
 What type of lease do they have? (may not be willing to give this information out)

5. 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)
 Does this retailer use the cost-oriented method of pricing or demand-oriented pricing.
 Is there a frequent shopper program?

6. 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.)

7. Store Layout:
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?

8. Customer Service:
 What type of services does this store offer? (Alterations, gift wrapping etc.)
 Talk to 3 customers - What is their perception of this stores customer service?
 How does this store handle customer complaints?
 Does this store have ―mystery shoppers‖ to check level of service?
 Is the salesperson ―empowered‖ to make decisions or is it up to management?

C. Competitive Advantage:
 Does this retailer have a ―competitive advantage‖ over similar stores?
 How can they retain this advantage or achieve an advantage over their competition? (This section
should be 2-3 paragraphs minimum)
The presentation should be made by every member of the group.Each presentation should not be
longer than 10 minutes. In addition to conveying the information, you need to make the presetation
interesting to the audience. Submit the soft copy, hardcopy and ppts.

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