BOOK
Retail Management, Global Edition
Barry R. Berman | Joel R. Evans | Patrali M. Chatterjee
(2017)
Additional Information
Book Details
Abstract
For courses in Retail Management.
A contemporary text that helps students thrive in today’s retailing industry
Retail Management: A Strategic Approach is built on the fundamental principle that retailers have to plan for and adapt to a complex, changing environment. Without a pre-defined and well-integrated strategy, retailers may flounder and be unable to cope with the environment that surrounds them. This text helps readers become good retail planners and decision makers. The 13th Edition incorporates updated data that reflects the current world economic climate, extensive coverage of omnichannel retailing, and many new vignettes, questions, and cases, so that students can thrive in today’s retailing industry.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Cover | Cover | ||
| Title Page | 1 | ||
| Copyright Page | 2 | ||
| Brief Contents | 3 | ||
| Contents | 4 | ||
| Preface | 11 | ||
| PART 1 An Overview of Strategic Retail Management | 21 | ||
| Chapter 1 An Introduction to Retailing | 22 | ||
| Chapter Objectives | 22 | ||
| Overview | 23 | ||
| The Framework of Retailing | 23 | ||
| Reasons for Studying Retailing | 25 | ||
| The Special Characteristics of Retailing | 29 | ||
| The Importance of Developing and Applying a Retail Strategy | 30 | ||
| The Home Depot Corporation: Successfully Navigating the Omnichannel Landscape | 31 | ||
| The Retailing Concept | 34 | ||
| The Focus and Format of the Text | 38 | ||
| Chapter Summary | 38 | ||
| Key Terms | 39 | ||
| Questions for Discussion | 39 | ||
| Web-Based Exercise: blog (www.bermanevansretail.com) | 39 | ||
| Appendix Understanding the Recent Economic Environment in the United States and Around the Globe | 40 | ||
| The Current Economic Situation in the United States | 40 | ||
| The Impact of the Downturn on Economies Around the World | 41 | ||
| The Effect of the Current Economic Climate on Retailing | 41 | ||
| Strategic Options for Retailers | 42 | ||
| Chapter 2 Building and Sustaining Relationships in Retailing | 44 | ||
| Chapter Objectives | 44 | ||
| Overview | 45 | ||
| Value and the Value Chain | 46 | ||
| Retailer Relationships | 48 | ||
| Customer Relationships | 49 | ||
| Channel Relationships | 56 | ||
| The Differences in Relationship Building Between Goods and Service Retailers | 57 | ||
| Technology and Relationships in Retailing | 59 | ||
| Electronic Banking | 60 | ||
| Customer and Supplier Interactions | 60 | ||
| Ethical Performance and Relationships in Retailing | 62 | ||
| Ethics | 62 | ||
| Social Responsibility | 63 | ||
| Consumerism | 64 | ||
| Chapter Summary | 66 | ||
| Key Terms | 67 | ||
| Question for Discussion | 67 | ||
| Web-Based Exercise: Sephora (www.sephora.com) | 67 | ||
| Appendix Planning for the Unique Aspects of Service Retailing | 68 | ||
| Abilities Required to be a Successful Service Retailer | 68 | ||
| Improving the Performance of Service Retailers | 68 | ||
| The Strategy of Pal’s Sudden Service: Baldrige Award Winner | 70 | ||
| Chapter 3 Strategic Planning in Retailing | 71 | ||
| Chapter Objectives | 71 | ||
| Overview | 72 | ||
| Situation Analysis | 73 | ||
| Organizational Mission | 73 | ||
| Ownership and Management Alternatives | 75 | ||
| Goods/Service Category | 77 | ||
| Personal Abilities | 78 | ||
| Financial Resources | 79 | ||
| Time Demands | 79 | ||
| Objectives | 80 | ||
| Sales | 80 | ||
| Profit | 81 | ||
| Satisfaction of Publics | 81 | ||
| Image (Positioning) | 82 | ||
| Selection of Objectives | 84 | ||
| Identification of Consumer Characteristics and Needs | 84 | ||
| Overall Strategy | 85 | ||
| Controllable Variables | 85 | ||
| Uncontrollable Variables | 87 | ||
| Integrating Overall Strategy | 88 | ||
| Specific Activities | 88 | ||
| Control | 90 | ||
| Feedback | 90 | ||
| A Strategic Planning Template For Retail Management | 90 | ||
| Chapter Summary | 94 | ||
| Key Terms | 94 | ||
| Questions for Discussion | 95 | ||
| Web-Based Exercise: Angie’s List (www.angieslist.com) | 95 | ||
| Appendix The Special Dimensions of Strategic Planning in a Global Retailing Environment | 96 | ||
| Opportunities and Threats in Global Retailing | 96 | ||
| U.S. Retailers in Foreign Markets | 98 | ||
| Foreign Retailers in the U.S. Market | 98 | ||
| Part 1 Short Cases | 100 | ||
| Case 1: Retailers MUST Be Future-Oriented | 100 | ||
| Case 2: Stores That Accommodate Those with Physical Limitations | 100 | ||
| Case 3: Is the Proliferation of Job Titles Helping or Hurting? | 101 | ||
| Case 4: Competition and Quick Foodservice | 102 | ||
| Part 1 Comprehensive Case | 104 | ||
| Ideas Worth Stealing | 104 | ||
| PART 2 Situation Analysis | 109 | ||
| Chapter 4 Retail Institutions by Ownership | 110 | ||
| Chapter Objectives | 110 | ||
| Overview | 111 | ||
| Retail Institutions Characterized by Ownership | 111 | ||
| Independent | 112 | ||
| Chain | 114 | ||
| Franchising | 116 | ||
| Leased Department | 120 | ||
| Vertical Marketing System | 121 | ||
| Consumer Cooperative | 123 | ||
| Chapter Summary | 123 | ||
| Key Terms | 124 | ||
| Questions for Discussion | 124 | ||
| Web-Based Exercise: 7-Eleven (www.franchise.7-eleven.com) | 125 | ||
| Appendix The Dynamics of Franchising | 126 | ||
| Managerial Issues in Franchising | 126 | ||
| Franchisor–Franchisee Relationships | 127 | ||
| Chapter 5 Retail Institutions by Store-Based Strategy Mix | 130 | ||
| Chapter Objectives | 130 | ||
| Overview | 131 | ||
| Considerations in Planning a Retail Strategy Mix | 131 | ||
| The Wheel of Retailing | 131 | ||
| Scrambled Merchandising | 133 | ||
| The Retail Life Cycle | 134 | ||
| How Retail Institutions are Evolving | 136 | ||
| Mergers, Diversification, and Downsizing | 136 | ||
| Cost Containment and Value-Driven Retailing | 137 | ||
| Retail Institutions Categorized By Store-Based Strategy Mix | 138 | ||
| Food-Oriented Retailers | 139 | ||
| General Merchandise Retailers | 142 | ||
| Chapter Summary | 149 | ||
| Key Terms | 150 | ||
| Questions for Discussion | 150 | ||
| Web-Based Exercise: Dillard’s (www.dillards.com) | 150 | ||
| Chapter 6 Web, Nonstore-Based, and Other Forms of Nontraditional Retailing\r | 151 | ||
| Chapter Objectives | 151 | ||
| Overview | 152 | ||
| Direct Marketing | 154 | ||
| The Domain of Direct Marketing | 156 | ||
| The Customer Database: Key to Successful Direct Marketing | 156 | ||
| Emerging Trends | 156 | ||
| The Steps in a Direct-Marketing Strategy | 159 | ||
| Key Issues Facing Direct Marketers | 161 | ||
| Direct Selling | 161 | ||
| Vending Machines | 163 | ||
| Electronic Retailing: The Emergence of the World Wide Web | 164 | ||
| The Role of the Web | 164 | ||
| The Scope of Web Retailing | 165 | ||
| Characteristics of Web Users | 167 | ||
| Factors to Consider in Planning Whether to Have a Web Site | 167 | ||
| Mobile Apps Enabling Online Retailing | 170 | ||
| Examples of Web Retailing in Action | 170 | ||
| Other Nontraditional Forms of Retailing | 172 | ||
| Video Kiosks | 172 | ||
| Airport Retailing | 172 | ||
| Chapter Summary | 173 | ||
| Key Terms | 175 | ||
| Questions for Discussion | 175 | ||
| Web-Based Exercise: “Charts & Data” section of Internet Retailer’s Web site (www.internetretailer.com) | 175 | ||
| Appendix Omnichannel Retailing | 176 | ||
| Advantages of Omnichannel Retail Strategies | 177 | ||
| Developing a Well-Integrated Omnichannel Strategy | 177 | ||
| Special Challenges | 179 | ||
| Part 2 Short Cases | 180 | ||
| Case 1: Do Power Players Rule? | 180 | ||
| Case 2: Will the Favorites of Today Remain Popular? | 180 | ||
| Case 3: Omnichannel Strategies of Top Retailers | 181 | ||
| Case 4: Omnichannel Food Retailing Still Needs Work | 182 | ||
| Part 2 Comprehensive Case | 183 | ||
| What Consumers Find Expendable versus Untouchable | 183 | ||
| What Are Consumers Finding Expendable? | 183 | ||
| Ongoing Recovery | 183 | ||
| Mash-Up | 184 | ||
| Older and Wiser? | 185 | ||
| Tracking Trends | 185 | ||
| Gender Trends | 186 | ||
| PART 3 Targeting Customers and Gathering Information | 187 | ||
| Chapter 7 Identifying and Understanding Consumers | 188 | ||
| Chapter Objectives | 188 | ||
| Overview | 189 | ||
| Consumer Demographics and Lifestyles | 190 | ||
| Consumer Demographics | 190 | ||
| Consumer Lifestyles | 192 | ||
| Retailing Implications of Consumer Demographics and Lifestyles | 194 | ||
| Consumer Profiles | 196 | ||
| Consumer Needs and Desires | 196 | ||
| Shopping Attitudes and Behavior | 197 | ||
| Attitudes toward Shopping | 197 | ||
| Where People Shop | 199 | ||
| The Consumer Decision Process | 200 | ||
| Types of Consumer Decision Making | 203 | ||
| Impulse Purchases and Customer Loyalty | 204 | ||
| Retailer Actions | 206 | ||
| Retailers with Mass Marketing Strategies | 207 | ||
| Retailers with Concentrated Marketing Strategies | 207 | ||
| Retailers with Differentiated Marketing Strategies | 208 | ||
| Environmental Factors Affecting Consumers | 208 | ||
| Chapter Summary | 208 | ||
| Key Terms | 209 | ||
| Questions for Discussion | 210 | ||
| Web-Based Exercise: Claire’s (www.claires.com) and Icing (www.icing.com) | 210 | ||
| Chapter 8 Information Gathering and Processing in Retailing\r | 211 | ||
| Chapter Objectives | 211 | ||
| Overview | 212 | ||
| Information Flows in a Retail Distribution Channel | 213 | ||
| Avoiding Retail Strategies Based on Inadequate Information | 214 | ||
| The Retail Information System | 215 | ||
| Building and Using a Retail Information System | 215 | ||
| Database Management | 217 | ||
| Gathering Information through the UPC and EDI | 220 | ||
| The Marketing Research Process | 221 | ||
| Secondary Data | 224 | ||
| Primary Data | 227 | ||
| Chapter Summary | 230 | ||
| Key Terms | 231 | ||
| Questions for Discussion | 231 | ||
| Web-Based Exercise: Coca-Cola Retailing Research Council (www.ccrrc.org) | 231 | ||
| Part 3 Short Cases | 232 | ||
| Case 1: Eating Patterns in America | 232 | ||
| Case 2: The Convenience Economy Comes of Age | 232 | ||
| Case 3: Are Hot Retailers of 2015 Still Hot? | 233 | ||
| Case 4: Navigating the Shopper Universe through Big Data | 234 | ||
| Part 3 Comprehensive Case | 235 | ||
| How Do You Attract and Satisfy Millennials? | 235 | ||
| PART 4 Choosing a Store Location | 239 | ||
| Chapter 9 Trading-Area Analysis | 240 | ||
| Chapter Objectives | 240 | ||
| Overview | 241 | ||
| The Importance of Location to a Retailer | 241 | ||
| Trading-Area Analysis | 242 | ||
| The Use of Geographic Information Systems in Trading-Area Delineation and Analysis | 244 | ||
| The Size and Shape of Trading Areas | 247 | ||
| Delineating the Trading Area of an Existing Store | 249 | ||
| Delineating the Trading Area of a New Store | 250 | ||
| Characteristics of Trading Areas | 253 | ||
| Characteristics of the Population | 256 | ||
| The Nature of Competition and the Level of Saturation | 259 | ||
| Chapter Summary | 261 | ||
| Key Terms | 262 | ||
| Questions for Discussion | 262 | ||
| Web-Based Exercise: Web site of Site Selection Online (www.siteselection.com) | 263 | ||
| Chapter 10 Site Selection | 264 | ||
| Chapter Objectives | 264 | ||
| Overview | 265 | ||
| Types of Locations | 265 | ||
| The Isolated Store | 265 | ||
| The Unplanned Business District | 266 | ||
| The Planned Shopping Center | 269 | ||
| The Choice of a General Location | 274 | ||
| Location and Site Evaluation | 275 | ||
| Pedestrian Traffic | 275 | ||
| Vehicular Traffic | 276 | ||
| Parking Facilities | 276 | ||
| Transportation | 277 | ||
| Store Composition | 278 | ||
| Specific Site | 278 | ||
| Terms of Occupancy | 279 | ||
| Overall Rating | 281 | ||
| Chapter Summary | 281 | ||
| Key Terms | 282 | ||
| Questions for Discussion | 282 | ||
| Web-Based Exercise: Main Street America (www.preservationnation.org/main-street) | 282 | ||
| Part 4 Short Cases | 283 | ||
| Case 1: Are Smaller and Faster Better? | 283 | ||
| Case 2: Organize, Optimize, Synchronize | 283 | ||
| Case 3: Removing Barriers to Cross-Border Commerce | 284 | ||
| Case 4: Warehouse Management: Right Time, Right Place | 285 | ||
| Part 4 Comprehensive Case | 286 | ||
| PART 5 Managing a Retail Business | 291 | ||
| Chapter 11 Retail Organization and Human Resource Management | 292 | ||
| Chapter Objectives | 292 | ||
| Overview | 293 | ||
| Setting Up a Retail Organization | 293 | ||
| Specifying Tasks to Be Performed | 294 | ||
| Dividing Tasks among Channel Members and Customers | 294 | ||
| Grouping Tasks into Jobs | 295 | ||
| Classifying Jobs | 296 | ||
| Developing an Organization Chart | 296 | ||
| Organizational Patterns in Retailing | 297 | ||
| Organizational Arrangements Used by Small Independent Retailers | 297 | ||
| Organizational Arrangements Used by Department Stores | 298 | ||
| Organizational Arrangements Used by Chain Retailers | 300 | ||
| Organizational Arrangements Used by Diversified Retailers | 300 | ||
| Human Resource Management in Retailing | 301 | ||
| The Special Human Resource Environment of Retailing | 303 | ||
| The Human Resource Management Process in Retailing | 305 | ||
| Chapter Summary | 313 | ||
| Key Terms | 314 | ||
| Questions for Discussion | 314 | ||
| Web-Based Exercise: Macy’s, Inc. has dedicated to “Careers After College” (www.macyscollege.com) | 314 | ||
| Chapter 12 Operations Management: Financial Dimensions | 315 | ||
| Chapter Objectives | 315 | ||
| Overview | 316 | ||
| Profit Planning | 316 | ||
| Asset Management | 317 | ||
| The Strategic Profit Model | 319 | ||
| Other Key Business Ratios | 320 | ||
| Financial Trends in Retailing | 321 | ||
| Budgeting | 324 | ||
| Preliminary Budgeting Decisions | 325 | ||
| Ongoing Budgeting Process | 326 | ||
| Resource Allocation | 328 | ||
| The Magnitude of Various Costs | 329 | ||
| Productivity | 329 | ||
| Chapter Summary | 330 | ||
| Key Terms | 331 | ||
| Questions for Discussion | 331 | ||
| Web-Based Exercise: QuickBooks (http://quickbooks.intuit.com/tutorials) | 331 | ||
| Chapter 13 Operations Management: Operational Dimensions\r | 332 | ||
| Chapter Objectives | 332 | ||
| Overview | 333 | ||
| Operating a Retail Business | 333 | ||
| Operations Blueprint | 333 | ||
| Store Format, Size, and Space Allocation | 335 | ||
| Personnel Utilization | 337 | ||
| Store Maintenance, Energy Management, and Renovations | 338 | ||
| Inventory Management | 340 | ||
| Store Security | 341 | ||
| Insurance | 342 | ||
| Credit Management | 343 | ||
| Technology and Computerization | 344 | ||
| Outsourcing | 346 | ||
| Crisis Management | 346 | ||
| Chapter Summary | 347 | ||
| Key Terms | 348 | ||
| Questions for Discussion | 348 | ||
| Web-Based Exercise: Pricer (www.pricer.com/en/Solutions) | 348 | ||
| Part 5 Short Cases | 349 | ||
| Case 1: Assistant Store Manager | 349 | ||
| Case 2: Manager, Training and Development | 349 | ||
| Case 3: Senior Manager of Digital Operations | 350 | ||
| Case 4: Retail Shrinkage: A Significant Problem | 351 | ||
| Part 5 Comprehensive Case | 352 | ||
| Predicting Retail Trends | 352 | ||
| Predictions of 2016 Retailing Trends | 352 | ||
| PART 6 Merchandise Management and Pricing | 357 | ||
| Chapter 14 Developing Merchandise Plans | 358 | ||
| Chapter Objectives | 358 | ||
| Overview | 359 | ||
| Merchandising Philosophy | 359 | ||
| Buying Organization Formats and Processes | 361 | ||
| Level of Formality | 361 | ||
| Degree of Centralization | 361 | ||
| Organizational Breadth | 362 | ||
| Personnel Resources | 362 | ||
| Functions Performed | 364 | ||
| Staffing | 364 | ||
| Devising Merchandise Plans | 364 | ||
| Forecasts | 364 | ||
| Innovativeness | 366 | ||
| Assortment | 369 | ||
| Brands | 372 | ||
| Timing | 375 | ||
| Allocation | 375 | ||
| Category Management | 376 | ||
| What Manufacturers Think about Retailers | 377 | ||
| What Retailers Think about Manufacturers | 377 | ||
| Merchandising Software | 378 | ||
| General Merchandise Planning Software | 378 | ||
| Forecasting Software | 378 | ||
| Innovativeness Software | 378 | ||
| Assortment and Allocation Software | 379 | ||
| Category Management Software | 380 | ||
| Chapter Summary | 380 | ||
| Key Terms | 381 | ||
| Questions for Discussion | 381 | ||
| Web-Based Exercise: TXT Retail Web site (http://-txtretail.txtgroup.com/solutions/assortment-planning-buying/) | 381 | ||
| Chapter 15 Implementing Merchandise Plans | 382 | ||
| Chapter Objectives | 382 | ||
| Overview | 383 | ||
| Implementing Merchandise Plans | 383 | ||
| Gathering Information | 383 | ||
| Selecting and Interacting with Merchandise Sources | 385 | ||
| Evaluating Merchandise | 386 | ||
| Negotiating the Purchase | 387 | ||
| Concluding Purchases | 388 | ||
| Receiving and Stocking Merchandise | 389 | ||
| Reordering Merchandise | 391 | ||
| Re-evaluating on a Regular Basis | 392 | ||
| Logistics | 392 | ||
| Performance Goals | 393 | ||
| Supply Chain Management | 394 | ||
| Order Processing and Fulfillment | 394 | ||
| Transportation and Warehousing | 396 | ||
| Customer Transactions and Customer Service | 397 | ||
| Inventory Management | 398 | ||
| Retailer Tasks | 398 | ||
| Inventory Levels | 398 | ||
| Merchandise Security | 399 | ||
| Reverse Logistics | 400 | ||
| Inventory Analysis | 401 | ||
| Chapter Summary | 402 | ||
| Key Terms | 402 | ||
| Questions for Discussion | 403 | ||
| Web-Based Exercise: “Business” section of the U.S. Postal Service’s Web site (www.usps.com/business) | 403 | ||
| Chapter 16 Financial Merchandise Management | 404 | ||
| Chapter Objectives | 404 | ||
| Overview | 405 | ||
| Inventory Valuation: The Cost and Retail Methods of Accounting | 405 | ||
| The Cost Method | 406 | ||
| The Retail Method | 408 | ||
| Merchandise Forecasting and Budgeting: Dollar Control | 411 | ||
| Designating Control Units | 411 | ||
| Sales Forecasting | 412 | ||
| Inventory-Level Planning | 413 | ||
| Reduction Planning | 416 | ||
| Planning Purchases | 416 | ||
| Planning Profit Margins | 418 | ||
| Unit Control Systems | 418 | ||
| Physical Inventory Systems | 419 | ||
| Perpetual Inventory Systems | 419 | ||
| Unit Control Systems in Practice | 420 | ||
| Financial Inventory Control: Integrating Dollar and Unit Concepts | 421 | ||
| Stock Turnover and Gross Margin Return on Investment | 421 | ||
| When to Reorder | 423 | ||
| How Much to Reorder | 424 | ||
| Chapter Summary | 425 | ||
| • Key Terms | 425 | ||
| Questions for Discussion | 426 | ||
| Web-Based Exercise: benchmarking section of the Retail Owners Institute Web site (http://retailowner.com/Benchmarks) | 426 | ||
| Chapter 17 Pricing in Retailing | 427 | ||
| Chapter Objectives | 427 | ||
| Overview | 428 | ||
| External Factors Affecting a Retail Price Strategy | 429 | ||
| The Consumer and Retail Pricing | 429 | ||
| The Government and Retail Pricing | 431 | ||
| Manufacturers, Wholesalers, and Other Suppliers—and Retail Pricing | 433 | ||
| Competition and Retail Pricing | 434 | ||
| Developing a Retail Price Strategy | 435 | ||
| Retail Objectives and Pricing | 435 | ||
| Broad Price Policy | 436 | ||
| Price Strategy | 438 | ||
| Implementation of Price Strategy | 443 | ||
| Price Adjustments | 447 | ||
| Chapter Summary | 450 | ||
| Key Terms | 450 | ||
| Questions for Discussion | 451 | ||
| Web-Based Exercise: Neiman Marcus (www.neimanmarcus.com) | 451 | ||
| Part 6 Short Cases | 452 | ||
| Case 1: Buyer of Sports Equipment | 452 | ||
| Case 2: Adapting to the Internet of Things (IoT) | 452 | ||
| Case 3: High Marks by Suppliers and Wholesalers for Convenience Stores | 453 | ||
| Case 4: Data-Driven Pricing | 454 | ||
| Part 6 Comprehensive Case | 456 | ||
| Knocking Off the Knockoffs? | 456 | ||
| PART 7 Communicating with the Customer | 459 | ||
| Chapter 18 Establishing and Maintaining a Retail Image | 460 | ||
| Chapter Objectives | 460 | ||
| Overview | 461 | ||
| The Significance of Retail Image | 461 | ||
| Components of a Retail Image | 462 | ||
| The Dynamics of Creating and Maintaining a Retail Image | 462 | ||
| Atmosphere | 464 | ||
| A Store-Based Retailing Perspective | 464 | ||
| A Nonstore-Based Retailing Perspective | 474 | ||
| Encouraging Customers to Spend More Time Shopping | 476 | ||
| Community Relations | 479 | ||
| Chapter Summary | 479 | ||
| Key Terms | 480 | ||
| Questions for Discussion | 480 | ||
| Web-Based Exercise: Johnny Rockets (www.johnnyrockets.com) | 481 | ||
| Chapter 19 Promotional Strategy | 482 | ||
| Chapter Objectives | 482 | ||
| Overview | 483 | ||
| Elements of the Retail Promotional Mix | 483 | ||
| Advertising | 483 | ||
| Public Relations | 490 | ||
| Personal Selling | 491 | ||
| Sales Promotion | 494 | ||
| Planning a Retail Promotional Strategy | 499 | ||
| Determining Promotional Objectives | 499 | ||
| Establishing an Overall Promotional Budget | 500 | ||
| Selecting the Promotional Mix | 501 | ||
| Implementing the Promotional Mix | 501 | ||
| Reviewing and Revising the Promotional Plan | 505 | ||
| Chapter Summary | 506 | ||
| Key Terms | 506 | ||
| Questions for Discussion | 507 | ||
| Web-Based Exercise: Web site (www.entrepreneur.com/article/241607) | 507 | ||
| Part 7 Short Cases | 508 | ||
| Case 1: Keep It Simple | 508 | ||
| Case 2: More than Price | 508 | ||
| Case 3: Enhancing the In-Store Experience through Facial Recognition Software | 509 | ||
| Case 4: Revitalizing Customer Loyalty | 510 | ||
| Part 7 Comprehensive Case | 511 | ||
| Inside the Mind of Shake Shack’s Founder | 511 | ||
| PART 8 Putting It all Together | 515 | ||
| Chapter 20 Integrating and Controlling the Retail Strategy | 516 | ||
| Chapter Objectives | 516 | ||
| Overview | 517 | ||
| Integrating the Retail Strategy | 518 | ||
| Planning Procedures and Opportunity Analysis | 518 | ||
| Defining Productivity in a Manner Consistent with the Strategy | 519 | ||
| Performance Measures | 521 | ||
| Scenario Analysis | 525 | ||
| Control: Using the Retail Audit | 526 | ||
| Undertaking an Audit | 527 | ||
| Responding to an Audit | 529 | ||
| Possible Difficulties in Conducting a Retail Audit | 529 | ||
| Illustrations of Retail Audit Forms | 529 | ||
| Chapter Summary | 531 | ||
| Key Terms | 532 | ||
| Questions for Discussion | 532 | ||
| Web-Based Exercise: American Customer Satisfaction Index (www.theacsi.org) | 532 | ||
| Part 8 Short Cases | 533 | ||
| Case 1: Envision the Future: Part 1 | 533 | ||
| Case 2: Envision the Future: Part 2 | 533 | ||
| Part 8 Comprehensive Case | 535 | ||
| Achieving Excellence in Retailing | 535 | ||
| Research Methodology | 538 | ||
| Appendix: Careers in Retailing | 539 | ||
| Glossary | 546 | ||
| Endnotes | 560 | ||
| Name Index | 577 | ||
| Subject Index | 581 |