Discussion QuestionS
1. Describe the text's retail strategic planning and operations management model.
2. Describe the five methods used to categorize retailers.
3. Explain the different methods for the study and practice of retailing.
4. Explain the importance of population trends on retail planning.
5. What is involved in the shopping and purchasing model, including the key stages in the buying process?
6. What are the various models of retail competition?
7. What four theories are used to explain the evolution of retail competition?
8. How do dependency, power, and conflict influence supply chain relations?
9. How does legislation constrain a retailer's pricing policies?
10. What criteria are used in selecting a target market?
11. What are the differences between the four methods of dollar merchandising planning used to determine the proper inventory stock levels needed to begin a merchandise selling period?
12. How does a retailer use unit stock planning and model stock plans in determining the makeup of a merchandise mix?
13. What factors should a retailer consider when establishing pricing objectives and policies?
14. What are the various pricing strategies available to the retailer?
15. How does a retailer calculate the various markups?
16. Why is markdown management so important in retailing?
17. What are the four basic components of the retailer's promotion mix and discuss how they are related to other retailer decisions?
18. What are the differences between a retailer's long-term and short-term promotional objectives?
19. What six steps are involved in developing a retail advertising campaign?
20. Why do intangible people resources provide more competitive advantage than tangible resources?