Compare and contrast the four theories of retail evolution. NOTE: The four theories are: 1. The wheel of evolution 2. The retail accordion 3. Retail life cycle 4. Resource-advantage theory
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- Is "going shopping" dead? Or dying? If so, what can be done, if anything? What can retailers do? What does this mean for customers? What does this mean for the employees in retail? explain in detailProvide a short definition of an experience good and provide one or more examples of experience goods. Provide a short definition of search goods and name one or more examples of search goods. Based on your answers above, how does the retailing of experience goods differ from the retailing of search goods? What is the impact of these differences on consumers?Identify and Explain FIVE (5) methods of how retailing can add value to customers. Provide relevant examples to support your answer. (150 words)
- write a paragraph on why mcdonald’s prices are better than dunkin’ donuts1. What is time poverty, and how can it influence our purchase decisions? 2. A consumption situation has a buyer, seller, and a product. What else would you add? 3. List three separate motivations for shopping, and give an example of each. 4. What are some important pros and cons of e-commerce? 5. List three factors that help to determine store image. 6. What is the difference between unplanned buying and impulse buying? 7. How do business models in the sharing economy differ from traditional purchase processes? 8. What is the difference between recycling and lateral cycling?The pandemic has accelerated a shift to buying online. Use your knowledge of retailing and/or customer buying behaviors to suggest and briefly explain two (2) strategies that offline/brick-and-mortar retailers could pursue to win back customers
- Summarize the changes in the change of consumption patterns of the consumers recently (after the outbreak of CORONA) (spending, payments, purchases, preferences etc.), describe the changes in marketing and competition in retail (and e-retailing) sector. Also make projections for the future (coming 1-2 years) Please Make CommentsA 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. InnovationConduct research on one retail clothing brand and give your assessment of how well it delivers added value in terms of all of the following: Information efficiency.
- Elucidate the hierarchy of effects from a retail perspective. Apply your answer to Reliance digital’s new store in the city.How do stores of value compete against each other?What in-store characteristics could traditional retailers use to enhance the probability of purchase among individuals who visit a store? Describe each factor in terms of how it should be used, and describe its intended effect on the consumer for the following products: a. Perfume b. Ice cream c. Coffee after a meal e. B12 drinkable shots f. Motor oil d. Flowers from a supermarket