mkt 3328 indi assignment

MKT 3328 Retailing Week of 11/1 Individual Assignment on Chapter 14 & Chapter 15

Deliverables:

· Due: November 8 (Monday), 11:59 pm

· typed; Times New Roman 12 font, double spacing, 1" margin

· Submission link: use the submission link on “Week of 11/1” folder

· References: If you have used any sources for this assignment, you should cite them in your paper; use APA format.

[Questions]

1. What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low-pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other? Explain your response.

[Read articles first!]

Source:   Gubbins, T. (2021). New Chain with Crazy Discounts Opens First Texas Store in Arlington. Culture Map Fort Worth. https://fortworth.culturemap.com/news/home-design/03-26-21-crazy-cazboys-discount-store-arlington-zoes-kitchen/

Wilson, M. (2021). Mega-Discounter Crazy Cazboy’s Puts Unique Spin on Closeout Retailing. Chain Store Age. https://chainstoreage.com/mega-discounter-crazy-cazboys-puts-unique-spin-closeout-retailing

2. What distinguishes Crazy Cazboy’s discount strategy from those of other discounters, like TJMaxx, which also tries to evoke excitement through a treasure hunt approach? Can this model spread throughout the country? What are some potential limitations on its growth?

3. Go to the home page for Interbrand ( https://www.interbrand.com/) and select the Best Global Brands 2021. Or you may directly access to the link: https://interbrand.com/best-global-brands/

On the basis of this ranking, list the top 10 global retail brands. In two or three paragraphs, describe what makes a strong retail brand. How were brand equity and financial performance used to measure brand value for these retailers?

4. Go to the social media site for a retailer that you have shopped at during the last few weeks.

4.1 How was social media used as an element in the retailer’s communication program?

4.2 What audience is being reached with social media?

4.3 Is the social media message consistent or inconsistent with other communication elements?

4.4 Is this a strong or weak strategy? Please explain.

5. Amazon’s new product

Amazon’s latest product launch: https://youtu.be/nOYctKrANxQ

A short video on Astro: https://youtu.be/h-2LXb-0Rfs

WSJ article: Nguyen, N. (2021). Amazon’s New Devices: the Astro Home Robot, a Smart Thermostat, a Wall-Mounted Echo Show and More. https://www.wsj.com/articles/amazon-event-today-expect-echo-updates-and-a-little-weirdness-11632837993

5.1 Discuss the importance of product development and innovation.

5. 2 Amazon is usually considered only as a retailer. Why is it investing so much in new product development?

5. 3 Who is the target market for the product? And how should the product be promoted?