Retailing – Business

Answer the below questions:

1.) We identified Retail growth strategies in Unit 2 as follows; Market Penetration, Market Expansion, Format Development and Diversification. Identify a different Retailer that expanded using each of these strategies. Select one of the many retailers we have discussed this term, and suggest a growth strategy it might consider. (12 pts.)
2.) Zara and Walmart are each considered world class supply chain retailers – how do their respective methods differ and why is each method appropriate for that retailer? What other retailer should consider becoming more like Zara – and what are some challenges to doing that? (Unit 9) (12 pts.)
3.) One of the chapters in our old text was titled “Customer Relationship Management,” which raised the question, does a retailer “manage” the customer, or does the customer now manage the retailer? What do you believe is the correct approach? Provide an example of a brand or retailer where the customer leads – and another where the brand leads. (10 pts)
4.) Please identify 4 different types of pricing strategies (Unit 6), describe them and tell us what retailer often employs each strategy. (12 pts.)
5.) We have heard it said that “a bad culture can eat a good strategy for lunch.” In your own words, what is meant by the term workplace “culture,” and why is it important to any organization’s success? Why is culture especially important to a retailer? (12 pts.)
6.) Identify the two primary types of needs discussed throughout the semester (Hedonic and Utilitarian), and provide a brief explanation of each. How does an understanding of its target consumer’s needs influence the way a store is designed? (10 pts.)
7.) We largely believe that the future of the fashion/retail industry will require an elevated level of of sustainable business practices. Please identify 2 changes that the industry can and should make to become more “sustainable.” Support your answer. Then identify 2 challenges to making those changes –why will they be difficult to make? Support your answers…. (14 pts.)

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