Retail Management Exam 2 FSU Hopkins Questions and Answers

Retail Management Exam 2 FSU
Hopkins Questions and Answers14

Provider Gap 3: The Service Performance Gap - ANSWERS -Gap 3: not delivering to service
standards (not a misunderstanding, just not doing it)

Causes

•Deficiencies in HR

•Failure to match supply and demand

•Customers not fulfilling roles (not telling barber what you want)



Provider Gap 4: The Communication Gap - ANSWERS -Gap 4: not matching service performance
to promise

Causes

•Lack of integrated marketing communications

•Ineffective management of customer expectations

•Overpromising

•Inappropriate pricing



The Gaps Model - ANSWERS -



Types of Ownership - ANSWERS -Independant Retailer

Chain

Franchise

Leased Department

, independant retailer - ANSWERS -70% of independants are owned and operated by
owners/owners families

account for 1/3 of total store sales

(Exm. local store)



independant retailer advantages/disadvantages - ANSWERS -Advantages

Flexibility in formats, locations, and strategy

Control over investment costs, personnel functions, and strategies

Easier to manage personal image

Consistency and independence

Strong entrepreneurial leadership



Disadvantages

Lack of bargaining power

Labor intensive operations

Over-dependence on owner



Chain - ANSWERS -Operate multiple outlets under common ownership

Engage in some level of centralized or coordinated purchasing and decision making

(Exm. Target)



Chain advantages/disadvantages - ANSWERS -Advantages

Bargaining power

Efficiency maintained by computerization, warehouse sharing, and other functions

Defined management philosophy