Lessons Learned
Question Description
You should discuss one or more of the key topics and/or concepts specific to this week that intrigued you, surprised you or had the most relevance to you. Please note that your summary shouldn’t be an outline or re-cap of the entire chapter contents – but instead should reflect more personal, in-depth thoughts about one or more of the key topics that resonated or connected with you the most. Please remember there is a 250-word minimum for this assignment.
CHAPTER 05 – RETAIL MARKET STRATEGY
- Define the retail strategy
- Illustrate how retailers build a sustainable competitive advantage
- Classify the different strategic growth opportunities retailers pursue
- Identify issues that arise as domestic retailers become global retailers
- Know the steps retailers go through to develop a strategic plan
CHAPTER 07 – RETAIL LOCATIONS
- Describe the types of retail locations available to retailers
- Review the types of unplanned locations
- Analyze the characteristics of the different types of shopping centers
- Discuss nontraditional retail locations
- Match the locations to the retailer’s strategy
- Review the societal and legal considerations in selecting locations
CHAPTER 08 – RETAIL SITE LOCATION
- Summarize the factors considered in locating a number of stores
- Review the characteristics of a particular site
- Understand how retailers analyze the trade area for a site
- Determine the forecasted sales for a new store location
- Illustrate the site selection process
- Explain the different types and terms of leases
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