Purpose: This report should cover the historical development of department stores and discount stores in Australia. Obviously you would start by defining both types of retail institutions and then describe what merchandise they carry and how they market to distinct types or market segments of retail customers. You may like […]
In a small group, present a plan for a new retail store. Who is the target market? Describe the merchandise, atmospherics, price points, services provided, location, and how you would promote your retail store. Describe how you will differentiate your store from competitors.
If retailers and manufacturers are aware that consumers derive utility from “getting a good deal,” they may be able to take advantage of this to increase their own profits. Can you find evidence that retailers take steps to manipulate the perception of the deals they offer?