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- 1c. With the support of an example, explain how retail merchandising support the concept of retail management in the real life.Which of the following is / are example(s) of finding gap in the market? (I) Open a vegetarian restaurant (II) Sell extra size shirt (III) Sell home-made cookies Select one: a. I and II only b. I only c. I, II and III d. II and III only26. Customer loyalty is an important method of:A. creating new products.B. promoting efficiency.C. sustaining an advantage over competitors.D. promotional pricing strategies.E. all of the above. 27. Whenever Harry goes down on Bay Street to havesomething to drink, he goes to Luther’s Pharmacy. There are many other“watering holes” on Bay Street but Harry will only go to them ifLuther’s is closed. Luther’s has achieved __________________ from Harry.A. customer loyaltyB. strategic acceptanceC. relative market shareD. value-based penetrationE. operational excellence 28. Banks have begun offering special accountsdesigned to attract junior high school children. These kids save in very smallamounts creating more work than the account is probably worth to the bank butbankers know consumers are creatures of habit and young people they service nowwill likely become adult customers. These banks recognize:A. operational excellence as a macro strategy.B. the life-time value of customers.C. product…
- pls help me, answer question ( do it as Powerpoint) about Food Truck buiness 1) Describe how you will advertise or raise customer awareness for your business, and your budget 2) Describe how customers will gain access to your produce or service- what channels of sale you will use and your revenue streams (who pays? Are you selling b2b or direct to customer, or both?)(Reflective Essay) What retailers would be considered intratype competitors for a convenience store such as 7-eleven? what firms would be intertype competitors?8- When the retailers provide Toll-Free Numbers and Customization, which criteria of conventional and online retailing is described? a. Suitability b. Customer management c. Reach and economy d. Delivery
- Beall started realizing that the value of her ser-vice was so great to retailers, who told her their sales tripled or quadrupled on days when she vis-ited, that she had no need to pay them for “place-ment.” With this insight in hand, she began to barter for free space at baby expos and trade shows. The event organizer would get more sales, while Clean-BeeBaby would get free marketing to a large group of prospective and targeted customers. She would also trade free cleaning services for mommy blog-ger attention. She observed, “The few times I’ve spent money on marketing, I’ve felt that I’ve not gotten my money’s worth.” In addition to bartering for space, she eradicated what would otherwise be the second largest cost for her company (after labor)—convincing cleaning product manufacturers to sponsor CleanBeeBaby. At different points in time, both BabyGanics and The Honest Company provided free cleaning supplies to Beall; doing so helped them market their own wares.By July 2012, when…Discussion questions that I need help on, these are in the Retailing Management textbook, chapter 2: types of retailers. 1.) Distinguish between variety and assortment. Why are these important elements of the retail market structure? 5.) Why is Walmart, the largest retailer in the world, facing slower growth than in the past? What can it do to accelerate its growth? 6.) Why are retailers in the limited-assortment supermarket, online grocery retailing, and extreme-value discount store sectors growing so rapidly? From which retailers are they getting these additional sales? 8.) Choose a product category that both you and your parents purchase (e.g., business clothing, casual clothing, music, electronic equipment, shampoo). In which type of store do you typically purchase this merchandise? What about your parents? Explain why there is, or is not, a difference in your store choices12- The broad description of a retailers objectives and scope of activities it plans to undertake is known as __________________________. a. Overall strategy b. Retail strategy c. Retail Audit d. Organisation mission
- 6.What is instant messaging (IM), and howcan it support business operations? Whichtechnology does IM replace or augment inonline retailing?Review Retailing view 18.2 about customer service at IKEA. How does this retailer utilize a self-service model as a competitive advantages strategy, compared to traditional furniture stores?TWO (2) types of retail competition are Intratype retail competition- This is when retailers of the same business compete with the same format to increase their brand, build brand awareness, and earn a profit. and Intertype retail competition - this type of competition is when two or more entities offer different formats. Even though their product offerings are different they are competing in reaching consumers because they do sell similar products. QUESTION give an example of each in relation to stationery store.