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 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) False3- Identify the retail ownership which is flexible and can react quickly to market changes. a. Franchising b. None of the options c. Independent single store d. Corporate retail chain
- Which isnt a possible benefit of good Market Basket Analysis? Guidance in where products can best be placed in a retail setting. Improved sales through product bundling. Improved data quality in database transactions. Identification of cross selling opportunities. Better ordering of stock inventory.Once the leader in discount retailing, Kmart long ago took a back seat to Walmart, Target, and others discount chains. But recent efforts to provide value to customers through innovation show that the veteran retailer may still have its edge. To gain a competitive one-up, Kmart started a unique program that combined the benefits of online and brick-and-mortar shopping. When an item that customers wanted to purchase was not in stock at one of its stores, Kmart would ship the item to the customer’s home for free. To launch this program, Kmart unveiled an ad campaign that illustrated an uncharacteristic relevance to younger, tech savvy customers. With the slight-of-mouth message that customers could “ship their pants” (or any of the other 65 million items in Kmart’s inventory) for free, the ad went viral. As a result, Kmart got its message out in spades, entertaining many while offending a few along the way. What kind of customer does the “Ship My Pants” campaign target? How is this…Once the leader in discount retailing, Kmart long ago took a back seat to Walmart, Target, and others discount chains. But recent efforts to provide value to customers through innovation show that the veteran retailer may still have its edge. To gain a competitive one-up, Kmart started a unique program that combined the benefits of online and brick-and-mortar shopping. When an item that customers wanted to purchase was not in stock at one of its stores, Kmart would ship the item to the customer’s home for free. To launch this program, Kmart unveiled an ad campaign that illustrated an uncharacteristic relevance to younger, tech-savvy customers. With the slight-of-mouth message that customers could “ship their pants” (or any of the other 65 million items in Kmart’s inventory) for free, the ad went viral. As a result, Kmart got its message out in spades, entertaining many while offending a few along the way. After viewing the video featuring Kmart, answer the following questions:…
- 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.Covid – 19 has changed the future of retail industry. Provide your prediction about the future of retail industry and discuss about it in 500 words. You can you the information from the links belowhttps://home.kpmg/xx/en/home/insights/2020/03/realities-of-retailing-in-covid-19-world.htmlhttps://theconversation.com/covid-19-has-changed-the-future-of-retail-theres-plenty-more-automation-in-store-139025How do you reconcile Trader Joe's success with the fact that grocery stores as a category are in the maturity stage of the retail life cycle? What are the key factors behind Trader Joe's success and what step should ittake beyound its current arketingactivities to continue to prosper?
- In order to adopt a multi-, or omnichannel business model, retailers need to manage increased complexity as they try to integrate different channels, technologies, skills, logic, etc. into one seamless retail experience. In this assignment, you are to reflect on the omnichannel business model from an e-commerce perspective. Your reflection should include (but is not limited to) thoughts on 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 retailerPretend 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?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?