Reasonable adjustment: Trainers may make reasonable allowances for learners in accordance with the C&I Learner Support Policy contained in the Participant Handbook. This may relate to the timeframe for undertaking this assessment task in class or relate to an extension to the due date. Consult with the Curriculum & Learning Manager prior to administering this assessment to ensure Learner Support needs are met. BSBRES411 Analyze and present research information Performance Evidence of the ability to: • identify or confirm research requirements and objectives • gather, organize and present research information • communicate effectively with research stakeholders to clarify requirements • maintain and handle information and documents systematically and securely • prepare reports on research findings including: o recommendations based on the analysis of information o clear and justified assumptions and conclusions o use of efficient, valid and reliable methods • analyze, evaluate and interpret research information to support organizational activities.
Bonus 2 points for providing a one sentence explanation for each question
1. During the covid-19 pandemic, BestBuy specifically changed their selling model to buying online and eventually picking up their products via curb-side pick-up. This is an example of:
a) Selective distribution
b) Intensive distribution
c) Omni-channel retailing
d) Multi-channel retailing
2. Sarah decided to open a Burger King in her neighborhood. In order to do so she contacted the corporate office of Burger King to get initial support from them. This however, gave her the opportunity to independently own her own Burger King Restaurant. This is an example of:
a) Partnership
b) Franchising
c) Corporation
d) Sole proprietorship
3. When checking out at the register Hannah ford, Bob decides to purchase gum in the last minute (although this was never part of his shopping list or his plan). This is an example of:
a) Markdown sales
b) Quick sale
c) Impulse sales
d) Inventory management
4. Adirondack Brewery sells their beers extensively in the North Country. The main aim behind this strategy to maximize profits by generating increased sales in this region, while giving competition to other leading brands. This is an example of:
a) Selective distribution
b) Exclusive distribution
c) Intensive distribution
d) Dual distribution
5. Target ensures all of its stores are clean, offer convenient hours and that they have easy pick-up and return policies in addition to plenty of parking space for their customers. This is an example of:
a) Augmented retail strategy
b) Expected retail strategy
c) Proposed retail strategy
d) Potential retail strategy
6. Jackson & Callie is a boutique gift shop in Plattsburgh that exclusively sells unique gifts for special occasions. This is an example of:
a) Exclusive distribution
b) Bifurcated retailing
c) Niche retailing
d) Selective distribution
7. It is very common to find a regular Target in mid-sized towns, while Super Target is found in big cities. As evident, depending on geographic location, target has different retailing approaches. What strategy is target following here?
a) Market penetration
b) Market merging
c) Market segmentation
d) Market differentiation
8. Before Paul purchased a new TV from Best Buy, he made sure he read all information about it, including its technical specs, warranties being offered and the possibility of servicing it for cheap if needed in the future. Paul is actively trying to reduce:
a) Information search
b) Cognitive dissonance
c) Evaluate alternatives
d) Post-purchase behavior
9. Minnie buys Crest brand toothpaste, despite a bunch of alternatives made available to her. This is because she has most experience with using this brand and requires less time and effort to make this decision. This is an example of:
a) Routine decision making
b) Extended decision making
c) Limited decision making
d) Complex decision making
10. The retailing concept is comprised of ________.
a) short- and long-term objectives, organization mission, and the development of a competitive defensible strategy
b) objectives, implementable actions, feedback, and strategy adjustment
c) niche strategy, cost leadership, and focus
d) customer orientation, coordinated effort, value-driven, and goal orientation
11. Buying a car requires a lot of thought, time and money into making a decision. This is an example of:
a) Routine decision making
b) Extended decision making
c) Limited decision making
d) Complex decision making
12. The process in which people determine whether, what, when, where, how, from whom, and how often to purchase goods and services is ________.
a) consumer motivation
b) outshopping
c) consumer behavior
d) segment behavior
13. Major retailers collect customer data from point of sales purchases and store customer information in a large database. This process of collecting, integrating and storing customer data is called:
a) Data mining
b) Database management
c) Data warehousing
d) Data merging
14. Micromarketing is an application of:
a) Data warehousing
b) Data mining
c) Pilferage control
d) Sales forecasting
15. The information needs of retail managers are continuously collected, organized and stored in a:
a) Repository
b) Black box
c) Retail information system
d) Computer
16. Primary trading area in a given location comprises of:
a) 10-30% of a store’s customers from that location
b) 25-50% of a store’s customers from that location
c) 50-80% of a store’s customers from that location
d) Less than 10% of the store’s customers from that location
17. Determining the demographic and socioeconomic characteristics of customers is an important function of:
a) Regression analysis
b) Customer analysis
c) Trading-area analysis
d) Data analysis
18. Having a one-stop family shopping destination is a major advantage of:
a) Neighborhood business district
b) Planned shopping center
c) Central business district
d) Unplanned shopping center
19. Primary, secondary and fringe trading areas are described on the basis of:
a) Customer store loyalty
b) Outshopping by customers
c) Probability of large orders based upon customer residence
d) The frequency with which people from various geographic localities shop at a particular store
20. Sean is part of a hiring team at Walmart. As a new positioned opened up, John is being tasked with writing a description and studying the requirements of what the potential new job might require. What is John doing here?
a) Hierarchy of authority
b) Job analysis
c) Goal-oriented job description
d) Traditional job description
21. When retailers are planning to forecast their spending based on expected performance, essentially, they are setting aside a:
a) Forecast
b) Blueprint
c) Budget
d) Savings account
22. This activity requires the recruitment, selection, training, compensation, and supervision of retail personnel:
a) Training
b) Store management
c) Human resource management
d) Demand management
23. Lori bought a pair of headphones in Target. However, those were not the ones she expected so she returned them to the store. Target eventually had to send it back to the manufacturer. This flow of merchandise from retailer back to the manufacturer is an example of:
a) Forward logistics
b) Reverse logistics
c) Inventory management
d) Third-party logistics
24. Victoria Secrets uses its Angel Cards program to track purchases made by customers. This is an example of:
a) Panel data
b) Primary data
c) Customer loyalty program
d) Store management
25. Short-term sales increases is usually achieved by offering:
a) Retail promotion
b) Sales promotion
c) Public relations
d) Advertising
26. Positioning can best be described as:
a) How a retailer is perceived by consumers and others
b) the mix of atmosphere, storefronts, store layouts, displays, and customer services as they relate to communicating with customers
c) a retailer’s projecting an image relative to its retail category and its competitors that elicits a positive consumer response
d) the way in which a retailer is defined in a shopper’s mind
27. A retailer that seeks to alter prices to reflect fluctuations in costs or consumer demand should practice ________.
a) Price lining
b) One-price policy
c) Variable pricing
d) Customary pricing
28. The way in which a retailer is perceived by consumers and others is its ________.
a) Atmosphere
b) Aesthetics
c) Store perception
d) Image
29. Which pricing strategy seeks to stabilize demand throughout the year?
a) One-price policy
b) Variable pricing
c) Everyday low pricing
d) Flexible pricing
30. What is an example of yield management pricing? Why is this the case?
Your team members will fill these positions: technology lead, marketing lead, product lead, channel lead. Each member must contribute to the satisfaction of the group to receive the group grade. There is a group contract and group evaluation in this document that you should discuss, change, sign and submit on Cloud Deakin. Please post the contract as a message in your group discussion space by week 3 of trimester. The contents of this agreement will be used to mediate and decide on courses of action when group conflict escalates. For maximum productivity, I suggest approaching the assignment as: • Research – who is target? Where to find them? How to access them/communicate with them? What is important to them? How large is the target segment? • Describe target segment and relationships you will build with them?
What is valuable and will make them come back to your startup? • Web strategy or functionalities that will enable the relationships to be built. • Related creative, media, integrated marketing, • domain development, naming, • Retail viability calculations. This assignment seeks to simulate the thinking behind reimagining retailing as a service offering. Use the retail theories presented in this course to help you think. To do well, these theories and frameworks should be demonstrated in your assignment. You may conduct brief surveys or use class-discussion time to perform research – talk to your friends, family and classmates who have recently tried to enroll in university or other formalized learning courses. Also, it helps to do some shopping online for the product – agents that help students sign-up for degree study. You may also use introspection as some of you have recently used agents’ services to enroll at Deakin University.
To keep this real, you will have a budget of AUD 140,000 +25% (4 partners each coming up with some cash upfront). This will be total startup costs; you have no more to invest. This money is to last you for 12 months and you will have to provide projected a return on this investment that is based on your proposed activities. Give us your calculations as an appendix and put a list of strategic items (e.g., an account/spreadsheet/financial table) that a business owner can easily understand. i.e., I will do A media to get to result B increase in sales - $3000. A will cost Y dollars - $1000. After we spend Y dollars, we should increase sales by X amount – 160 units.
This will give us Z profit/market share/growth - $4000 in total sales minus $1000 additional costs of A, gives $3000 result for B. So, by doing A and spending Y, you will get result B. Note that every strategic “vector/initiative” has to be costed and have a return – this will help you to check whether your strategy is achievable. There is no stock. You are selling degree applications. Each student you manage to recruit earns you a commission that is 10% of the student’s first year’s school fees. You will have to bear all costs to recruit and convert the student, just like a travel agent retailer. The following sections describe the key elements that need to be considered and included in your retail strategy report.