. VivoCity is Singapore's largest mall, attracting40 million visitors a year. Its two largest retailtenants, occupying 22.4% of the mall, areVivoMart, a combination of a hypermarket,upscale supermarket, and drug store, andTangs Department Store. In 2010, on a persquare foot basis, VivoCity's major and minianchors achieved average sales of S$678 ayear while paying rent of S$78 a year.Specialty retailers achieved average sales ofS$950 a year and paid an average rent ofS$196 a year.a. With a relevant diagram, illustrate adepartment store's marginal benefit from andmarginal cost of attracting customers. Showthe externality on a specialty retailer andidentify the economically efficient number ofcustomers.(b) Compare the ratio of rent to sales for majorand mini anchors and for specialty retailers.(c) Explain why VivoCity charges lower rents toanchors than to specialty retailers.(d) Are externalities from a department storeto nearby retailers more likely to be resolvedfor a store on a public street or in a shoppingmall? Explain your answer.

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. VivoCity is Singapore's largest mall, attracting 40 million visitors a year. Its two largest retail tenants, occupying 22.4% of the mall, are VivoMart, a combination of a hypermarket, upscale supermarket, and drug store, and Tangs Department Store. In 2010, on a per square foot basis, VivoCity's major and mini anchors achieved average sales of S$678 a year while paying rent of S$78 a year. Specialty retailers achieved average sales of

. VivoCity is Singapore's largest mall, attracting 40 million visitors a year. Its two largest retail tenants, occupying 22.4% of the mall, are VivoMart, a combination of a hypermarket, upscale supermarket, and drug store, and Tangs Department Store. In 2010, on a per square foot basis, VivoCity's major and mini anchors achieved average sales of S$678 a year while paying rent of S$78 a year. Specialty retailers achieved average sales of

MARKETING 2018

19th Edition

ISBN:9780357033753

Author:Pride

Publisher:Pride

Chapter15: Retailing, Direct Marketing, And Wholesaling

Section15.1: L.l.bean: Open 24/7, Click Or Brick

Problem 3VC

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