RETAIL MANAGEMENT PROJECT REPORT 3 INSTRUCTIONS
General Project Overview
Imagine you are an entrepreneur who is planning to open a retail establishment somewhere in the community where you live within a 50-mile radius. You need to determine what type of retail establishment you will be managing (in what industry and product categories). In this project, you will respond to specific questions on how you would establish your retail business that will result in a report to be delivered to a potential investor or banker.
This project will consist of 3 interim reports consisting of 500750 words each and a final report which will contain segments of your 3 interim reports, edited based on the feedback provided by the instructor, and responses to the unique prompts for the final report. Grading rubrics are provided for both classifications of reports (interim and final). Each report must be written using APA current edition format and submitted using the designated SafeAssign plagiarism link.
Report 3 Specifics
1. Describe your plan for inventory control of your merchandise. Include a variety and assortment plan as described in the course textbook. (Chapters 1213)
2. Describe your proposed pricing strategy to include times when you would run special pricing promotions, markdowns, etc., and provide rationale for your pricing strategy. (Chapter 14)
3. Describe your promotion strategy to include any traditional and non-traditional media that you would use to reach your target market. You must define your target market and include rationale for your promotion strategy. (Chapter 15)
4. Describe the layout design of your merchandise and signage for your store to include the rationale for your layout design. (Chapter 17)
5. Describe your plan for providing customer service as a way of improving your competitive advantage. Include your rationale for this strategy. (Chapter 18)