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Assignment 1

The document provides answers to questions about retail management strategies. It discusses why suppliers may choose exclusive distribution agreements and why new manufacturers would want broad retail distribution. It defines the purpose of a formal retail strategy and key steps in strategic planning that retailers should follow. It also explains the retailing concept and applies it to a sari-sari store. Finally, it defines total retail experience and describes a situation where online delivery services exceeded expectations during the pandemic.

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Ceres Thea
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68 views

Assignment 1

The document provides answers to questions about retail management strategies. It discusses why suppliers may choose exclusive distribution agreements and why new manufacturers would want broad retail distribution. It defines the purpose of a formal retail strategy and key steps in strategic planning that retailers should follow. It also explains the retailing concept and applies it to a sari-sari store. Finally, it defines total retail experience and describes a situation where online delivery services exceeded expectations during the pandemic.

Uploaded by

Ceres Thea
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Retail Management and E-Tailing

ASSIGNMENT NO. 1

1. Why might a supplier opt for exclusive channel distribution with retailers?

Ans: Suppliers opt for exclusive channel distribution with retailers because they sell their entire
inventory to as few buyers as possible and retailers are the source of communication between
manufacturer and consumer. In this way supplier only distribute the goods to the retailers and
the retailers are the one who distributes them to multiple consumers. 

2. Why might a new manufacturer want their products to be sold in the maximum number of retail
outlets? Is this a good idea?

Ans: Because selling it to a maximum number of retail outlets lets the manufacturer reach more
customers, reduce costs, improve cash flow, increase mire sales rapidly, and let them focus on
their own expertise, and with this yes, it is a good idea. 

3. What is the purpose of developing a formal retail strategy? How could a strategic plan be used by a
restaurant chain?

Ans: By developing a formal retail strategy you will be able to know the needs of the consumer
and what to invest the most based on what the consumer wants. A strategic plan can be used
by a restaurant by knowing what kind of food people like nowadays. By focusing on what your
consumer wants and providing them a good customer service will give you well-developed
success. 

4. What are the six key steps of strategic planning that should be used by a retailer?

Ans: Here are the six steps of strategic planning used by a retailer:
    
1. Define the type of business in terms of the goods or service category and the company’s
specific orientation (such as full service or “no-frills”).
2. Set long-run and short-run objectives for sales and profit, market share, image, and so on.
3. Determine the customer market to target on the basis of its characteristics (such as gender
and income level) and needs (such as product and brand preferences).
4. Devise an overall, long-run plan that gives general direction to the firm and its employees.
5. Implement an integrated strategy that combines such factors as store location, product
assortment, pricing, and advertising and displays to achieve objectives.
6. Regularly evaluate performance and correct weaknesses or problems when observe.
5. Explain the retailing concept. Apply it to a sari-sari store near your residence.

Ans: The retailing concept has four principles. It uses a customer-centered, chain-wide
approach to strategy development and implementation, is value-driven, and has clear goals. In
applying these principles to a sari-sari store the owner must determine the needs of its
customers and endeavors to satisfy these needs to the fullest. The owner should also combine
all the plans and activities to maximize effects. The owner should also offer discounts or give an
appropriate price to what he/she offers. The owner should also set goals and use its strategy to
attain customers.

6. Define the term total retail experience. Then describe a recent retail situation in which your
expectations were surpassed, and state why.

Ans: Total retail experience has been defined as all the elements in a retail offering that
encourage or inhibit consumers during their contact or journey with a retailer. As what we are
experiencing today due to this pandemic going outside for children has prohibited. Eating their
favorite Jollibee meals would not be possible without having these online delivery services such
as Grab food, Lalafood and Foodpanda. They are not only offering seamless delivery but you
also receive a discount or even a free delivery when you use the application most of the time.
This surpassed my expectation because even we are experiencing pandemic some
establishments still do offers discounts and such just to satisfy their customers

Ceres Thea B. Albacite


BSBAMM 1-1

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