Retailer Relationships, Consumers, and Innovation
Imagine that you are a new marketing strategist for a retail business and wish to examine the practices of existing retailers for a frame of reference. Go to About.com’s Website read “2013 Top 100 US Based Retail Companies on World’s Largest List – Biggest & Best”, located at http://retailindustry.about.com/od/topusretailcompanies/a/us_2013_worlds-largest_retail_companies_chains_retailers_biggest_American_globalpower_2.htm.
Next, go to Chain Store Age’s Website and read “Chain Store Age: News and Analysis for Retail Executives, August/September 2012”, located at http://www.chainstoreage.com/sites/chainstoreage.com/files/Interbrand2012_Top100_LR.pdf.
Select a retailer in which you are interested from either of these lists.
Write a six to eight (6-8) page paper in which you:
1. Propose three (3) actions that you would take in order to build and sustain relationships for the selected retailer.
2. Determine which of the retailers from either or both the Websites is currently the most successful at strategic planning and building relationships. Support your position with one (1) example of such success.
3. Examine the fundamental aspects of innovation (e.g., technology) that either support or do not support the overall retailer-consumer relationship.
4. Determine whether you agree or disagree with the selected retailer concerning its use of nontraditional forms of retailing. Suggest two (2) actions that the retailer can take in order to take advantage of the consumer trends in the evolution of retailing.
5. Apply the process of strategic planning in retailing and the characteristics of ownership to the selected retailer, and justify your logic.
6. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Describe the special characteristics of retailing and the importance of building and sustaining relationships.
• Explain the process of strategic planning in retailing and the characteristics of ownership.
• Examine nonstore retailing, electronic retailing, and nontraditional retailing approaches.
• Use technology and information resources to research issues in retail management.
• Write clearly and concisely about retail management using proper writing mechanics.