A retail strategy identifies the format the retailer plans to use to satisfy the _____.
Answer: target market
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Retail Management
- To be successful in international markets, retailers have found that it is essential to develop all of the following except _____.
- A retailer expanding their hours to be open an additional hour each evening is using the _____ growth strategy.
- Ascena Retail Group Inc. recently purchased the retail chain "Justice for Girls" and now owns and operates three distinctive different retail chains: Justice for Girls, which offers fashions and accessories for "tween" girls ages 7-14; Maurice's, which offers casual, career, and dressy looks in sizes 1-24 for the fashion conscious girls; and Dress Barn which offers its own private labels and contemporary fashions at great value in an environment that is sensitive to and focused on the needs and desires of women. What growth strategy is Ascena Retail Group using?
- At Forever 21, a sales associate is suggesting accessories to a customer at the check-out area to go with the sweater she is purchasing. This selling approach is called _____.
- Chinese consumers exposed to the American programs and trends desire to emulate Americans. This has given the American brands an edge in the _____ characteristic for successful exploitation of international growth opportunities.
- _____ is described as diversification by retailers into wholesaling or manufacturing.
- MiddleMan Inc. is a headhunting company that is thinking of expanding to a developing economy. Eventz Corp., an event management concern, is also thinking of entering into the same country's market. Which of the following factors would have the same impact for the two companies in terms of attractiveness of the market?
- A perpetual map is developed to identify how customers view competing retailers' _
- A related diversification growth opportunity involves:
- The type of merchandise and services offered, pricing policy, advertising and promotion programs, store design and visual merchandising, typical locations, and customer services are categorized as _____ in a retail strategy.
- Gamerz Inc., a video gaming developer, has come up with an idea of designing two versions for each of their bestselling games, one suitable for teenagers and the other for adults. This is an example of the _____.
- A _____ is a group of consumers with similar needs that a group of retailers can service using a similar retail formats to satisfy them.
- Of the different approaches of entering a global market, which of the following has the highest risk and requires the most investment?
- A retail format development growth opportunity involves:
- _____ occurs when a retail firm invests in and owns a retail operation in a foreign country.