Homework: Retail Strategy
Preparation/Materials: This homework works best with a whiteboard/paper and a number of markers.
Challenge: Brainstorm a quick list of retailer categories you are familiar with, such as bookstores, convenience stores, after market shops (for customizing cars, coffee shops, pet stores, clothing boutiques, gift shops, etc.). Now choose one retailer category of your choice from that list and come up with your own store. You are tasked to:
1) determine the target customers
2) decide on the three top merchandise categories
3) sketch the layout of the store on a section of the whiteboard/paper
4) develop one free service to add value for customers
5) name your store
Tasks to Complete:
In a minimum of 200 words:
1) Respond to the tasks mentioned above and provide a rationale for each task using the concepts you've learned in the textbook. Use appropriate APA within citations for your sources. Plagiarism will not be tolerated.
2) Answer the following questions:
a) Do smaller retailers typically pay attention to these elements of retailing strategy? Why or why not?
b) How could research and technology help refine retailing strategy?
In addition to your response, scan and upload a sketch of your store layout by attaching it as a picture or file.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.