Portfolio 5: Lesson 13 Assignments
Assignment Introduction: Please do the following:
1. Choose a retailer.
2. Visit the retailer and observe the layout of the store, the feel, the atmosphere, the practices, and so forth. (Take a camera with you to record 3 and 4 below.)
3. Identify the retailer's strengths in terms of how the retailer relates to customers.
a. What works well for customers?
b. Take two or three photos to use as examples.
4. Identify the retailer's weakness in terms of how the retailer relates to customers.
a. What doesn't work well for customers?
b. Take two or three photos to use as examples.
5. Consider the implications for managers. (What recommendations would you give?)
6. Putting it all together, considering "It's a Mall World," how is retail changing and how do you feel about the change? Is it good or bad?
When visiting the retailer, try to observe things with a "managerial eye." You are not a customer; you are an analyst. Take your time and see what you can see.
When identifying the strengths and weaknesses of the chosen retailer, focus on the impact of the retailer's tactics and practices on customers. For example, you might notice that all the denture adhesives are low on the shelf and that older customers must stoop uncomfortably to reach them. Likewise, you might observe that in a women's clothing store, no seating is available for the companions (husbands, sisters, friends, or others) of those who are in the fitting room. Consider the utilities provided by retailers that create value for customers-time, place, form, and possession. Also examine the retailer's strategy-target market and retailing mix.
Deliverables: For your deliverable, please summarize the following:
1. The retailer you selected
2. The retailer's strengths you identified, with accompanying photos
3. The retailer's weaknesses you identified, with accompanying photos
4. The managerial implications, with your recommendations
a. What should the retailer start doing?
b. What should the retailer stop doing?
c. What should the retailer continue doing?
Lesson 14 Assignments
Deliverables: 1. Review the history of Silly Putty and Play-Doh. (See "Instructor Insights" in the lesson.)
2. Why did both products initially fail?
3. How did both products eventually succeed and then become popular throughout the world?
Lesson 15 Assignments
Deliverables: 1. Review the five dimensions of a competitive angle.
2. Go to kickstarter's website and indiegogo's website and evaluate any new idea or project that you find interesting. (Find something new. Do not use a product or service that you analyzed for your crowdfunding assignment in lesson 12.)
3. Rate the idea from 1 to 10 on each of the 5 dimensions of a competitive angle.
4. Use at least 2 of the 5 dimensions to sharpen the idea's competitive angle and make its competitors irrelevant.