rm assignment
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Assignment 1Retail Management
• You are to select a topic from the list of five as shown below, and make careful in-site observations in the form of a written report.
– Hospital / Medical Centre, and Tourists / Airline Ticketing Agency
– Restaurant / Fast Food Shop / Confectionery shop/ Hotel, and Shopping Centre / Complex
– Electrical Appliance Shop / Cell phone Shop, and Beauty Parlour / Barber
– Motor Garage / Bicycle Shop, and Cinema / Karaoke– Bank / Financial Institution, and Book Shop / Library
• Here you will show that you understand the store-based retail strategy mixes, based on type, location, merchandise, prices, atmospheres and services, promotion, process and customers.
• Length of assignment: 1,000 to 1,500 words
Type
• Goods or services retailing?
• General or specialty store?
• Selling durable or non-durable goods?
• Serve low-end, mid-end or high-end market? Or which target market?
• Chain or independent store?
• ??
Location
• Example– Xxxx is located at ZZ train station where the hi
ghest daily train passenger traffic can be as high as 123,000 people
(http://news.shangdu.com/105/20110221/9_218732.shtml)
Location (2)
• Example– Xxxx store is located at the junction of Jinshui
Road and People Road near Purple Golden Hill Garden where high human traffic is.
– I was at Xxxx on Sunday, 12 September at around 11am. I saw a high human traffic coming toward the direction of the Xxxx store across from the direction of Wenhua Road.
Merchandise
1. Brands– I have found the following brands in Watson
store• YYYY• ZZZZ• VVVV• KKKK• ???
Merchandise
2. Assortment– Categories: Merchandises at Watson store
are sorted out into categories, namely• Cosmetics• Foods and beverages• Daily personal care items• ??• ??
– Depth: – Width:
Merchandise
3. Cross-Merchandising
- Watson carries complementary goods and services to encourage shoppers to buy more.
- E.g. I have found ???? displayed in the shelf of ???
Prices
• Any lose-leader?• Any everyday Low Pricing?• Buy-one-get-one-free?• Multiple-Unit Pricing?• Timing Markdowns?
– Early markdown policy– Late markdown policy– Staggered markdown policy– Automatic markdown plan– Storewide clearance
Atmosphere and service
• The psychological feeling a customer gets when visiting a retailer
• Atmosphere refers to store’s physical characteristics that project an image and draw customers
• What service does the store provide?
Atmosphere
• Lighting?• Moving space?• Color?• Friendliness?• Noises?• Cleanliness?• ???• ???
Process
• Order process– Fast / slow?– Easy / difficult?
• Serving process?
• Payment process??
• Claim process??
• Telephone answering process??
• ????
Promotion
• Advertising
• Public Relations
• Personal Selling
• Sales Promotion
Promotion
Customers
• Any customer relationship program?– Membership?– After-sale guarantee?– ???