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- Choose a retail business that you want to start. Where do you want to start? Who are your target customers? What are the goals of your business? Choose an ownership form and the type of retailer. What value added services would you provide to your customers?If you were opening a retail business, would you prefer to open an independent store or own a store under a franchise arrangement? Explain your preference.Who are the primary customers of retailing businesses? Why?
- From a personal perspective, how does retailing rate as a potential career compared with others you are considering?What types of retailers would attract our target audience?Assume you are considering opening a retail business. You are trying to decide whether to have a traditional “brick-and-mortar” store or to sell only online. Explain how the activities and costs differ between these two retail arrangements.
- Imagine you are considering starting your own retail business. Narrow your business ideas to selling one type of perishable goods (such as a bakery) and one type of non-perishable goods (such as a clothing boutique) and share that decision with the class. Discuss the pros and cons of selling each type of item. Between the perishable items or non-perishable items businesses, which would you choose? Why? share one perishable goods business and one non-perishable goods businessdiscuss pros and consdisclose which business you would pursueexplain why you made the decision that you didImagine you are considering starting your own retail business. Narrow your business ideas to selling one type of perishable goods (such as a bakery) and one type of non-perishable goods (such as a clothing boutique) and share that decision with the class. Discuss the pros and cons of selling each type of item. Between the perishable items or non-perishable items businesses, which would you choose? Why?How does a traditional specialty store attract customers?
- 2. Identify the target market for the retail trade and discuss how it is trying to develop an advantage over its competitorsThis chapter discusses that at the heart of every business endeavor is an exchange between buyer and seller. How does this relate to TripAdvisor’s business?What advantages can a convenience store chain, such as 7-Eleven, have over traditional sari-sari stores?