I’m working on a business question and need an explanation to help me understand better.
Please complete all 5 of the questions that are listed below. Your answers should be well written and concise, and be at 3 full paragraphs in length. Please make sure your answers follow the proper APA styles of writing: including footnoting and are double spaced. Please include a cover page and Work Cited.Your Exam is to be submitted to Canvas.
1. Following the (The Wheel of Retailing), Retail Life Cycle as described in your book, show the identifiable stages your retailer (course project), goes through over time. Discuss each stage in detail, and how your retailer operates in each stage.
2. In general merchandise retailing, traditional retail formats such as department stores and specialty stores are struggling with competition from new formats such as price- aggressive store formats. This trend towards more price –oriented and flexible formats is predicted to continue for the next few years. You have been hired by a large retailing chain to develop long term strategies to counter this new “trend”. What are some of these strategies? How do you plan on implementing them?
3. Even though there are many successful examples of multinational retailers, multichannel retailing is not appropriate for every retailer. Identify one retailer that you believe is not able or qualified to engage in multi-channel retailing? Why is this thecase? What would they need to do to change this?
4. Like Nike, Adidas wants to invest in developing countries, where the network of sporting goods is less close. With regards to geographic importance, Adidas has identified North America, China, Russia, Latin America, Japan, and the UK and India as important growth markets. Furthermore, the company will expand into focal cities in well- established countries. How is this different to Nike’s global marketing strategy? What will Adidas need to do to make sure that their strategy is successful, and that they are not following in the footsteps of Nike, or any other global retailer?
5. Retail companies have different options for growth. Using theGrowth Strategies concepts as outlined in Chapter 7, discuss several options for growth that you are examining for yourcompany.