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MKT 534, Spring 2013, p.1
MKT 534
Retail Strategy
Spring 2013
Mondays and Wednesdays, 5:00- 6:20 pm
Section 16534R JKP 102
Professor: Judith Blumenthal
Office: BRI 307D Bridge Hall
Office Phone: 213-740-0734
MOR Phone: 213-740-0728
E-mail: [email protected]
Office Hours: Mondays 3:50-4:50 p.m., and by appointment
Introduction and Course Objective
The retail industry is undergoing a period of extraordinary turbulence. Many companies that only
recently were riding a wave of growth in revenue, profit, and share price have been stunned as theirmarkets have gyrated and consumer buying patterns have altered in unimagined ways. Far from
continuing their aggressive expansion plans, many retailers are pulling backsome merely slowing
expansion, others contracting, others declaring bankruptcy.
Yet as in past periods of upheaval, there are and will continue to be winners as well as losers.
Consumers will always need to buy things for themselves and their families, and there will be space for
different retail formats and different value propositions. The retailers challenge and opportunity will be
(as it always has been) to find a meaningful way to add value to products and services for a chosen
segment of customers.
This course will explore the following questions:
What is the role of retailers in the supply chain that brings goods and services to consumers? How do retailers add value? How is the landscape of retailing changing? What trends are emerging? Which retail models are winning today? Which are likely to win in the future? What are the keys to managing a successful retail operation? What does it take for retailers to be profitable?We will provide frameworks for analyzing retail firms, and the dynamics within the retailers
competitive, industry, and macro environments. We will apply our knowledge through case analysis,
discussion of current events, speakers, and student projects
Learning Objectives
By the end of the term, you will have learned how to:
Analyze the role of retailing in the supply chain that links manufacturers to consumers; Understand the basic functions involved in running a retail business, and the concepts and
principles necessary for decision-making in a retail firm;
Analyze historical and current trends affecting retailing, including environmental, industry, firm,and consumer dimensions;
mailto:[email protected]:[email protected]:[email protected]7/28/2019 MKT 534
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MKT 534, Spring 2013, p.2
Analyze retail sectors and retail firms from a strategic perspective; Develop recommendations and compelling arguments for strategic decisions in retail situations; Understand careers in retail and retail-related fields and be able to evaluate your own suitability
for such careers.
Learning in this courseThe course combines concepts and application. There are two resources for the concepts componenta
text and course readings. (Many of the latter are available through USCs electronic library reserves
system (ARES); some are included in a course packet, available at the USC Bookstore; a few are on
Blackboard.) The text provides wide breadth concerning conceptual frameworks used in retail analysis
and the course readings offer depth and contemporary analyses of topics of particular interest.
In terms ofapplication, cases, current event readings, guest speakers and student projects will provide
an opportunity for us to applythe theory. Students will have hands-on opportunity for research,
analysis, and decision-making through projects requiring primary and secondary research on retail
sectors and organizations.
The amount of learning you accomplish will be a direct function of your personal involvement in theseactivities. ALL students are expected to come to class prepared for all discussions and activities.
I will endeavor to create a supportive environment for our discussions, and I expect students to
contribute to that goal too. My aim is make the class a learning community, where we can all learn
from each other. This requires active participation and respect for each others contributions.
Required Materials
Retail Management, by Michael Levy, Barton Weitz, and Lauren Beitelspacher , (8th edition),McGraw-Hill.
Course Reader, available at the Bookstore. SeeAppendix A for content USC Electronic Library, including ARES (SeeAppendix B) ; Marshall Electronic Library; Blackboard Access to the Wall Street Journal and current business press
Recommended Materials: Sample of sites to sign up for e-mails on retailing
National Retail Federation: http://www.smartbrief.com/nrf/index.jsp?campaign=082010Trial_signupbutton
WWD: www.wwd.com/newsletters
Kantar Retail Forward:www.kantarretailiq.com
The Robin Report: http://therobinreport.com/subscribe/
The Business of Fashion: http://www.businessoffashion.com/
Prerequisites
One from GSBA 509a or GSBA 528
Course Notes
Copies of course lecture notes/materials, further details on assignments, and general course
announcements will be posted on Blackboard throughout the semester. You should develop the habit
of checking the course folder on a daily basis. You can access Blackboard through the My Marshall
portalhttp://mymarshall.usc.edu , or directly: https://blackboard.usc.edu. You will need your UNIX
password.
http://www.smartbrief.com/nrf/index.jsp?campaign=082010Trial_signupbuttonhttp://www.smartbrief.com/nrf/index.jsp?campaign=082010Trial_signupbuttonhttp://www.wwd.com/newslettershttp://www.wwd.com/newslettershttp://www.kantarretailiq.com/http://www.kantarretailiq.com/http://www.businessoffashion.com/http://www.businessoffashion.com/http://mymarshall.usc.edu/http://mymarshall.usc.edu/http://mymarshall.usc.edu/https://blackboard.usc.edu/https://blackboard.usc.edu/https://blackboard.usc.edu/http://mymarshall.usc.edu/http://www.businessoffashion.com/http://www.kantarretailiq.com/http://www.wwd.com/newslettershttp://www.smartbrief.com/nrf/index.jsp?campaign=082010Trial_signupbutton7/28/2019 MKT 534
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Important: E-mails sent to the class originate from the Blackboard system, and will also be archived as
Announcements on Blackboard. It is your responsibility to insure that your e-mail address and account
settings in Blackboard are correct for you to receive messages. If you need to send me an e-mail, you
may do so through the Blackboard system.
Grading Summary
The components of the final course grade will be weighted as follows:
Participation 20%
Midterm Examination 20%
Sector Presentation (team) 20%
Company Report (team) 15%
Final exam 25%
Total 100%
Final grades represent how you perform in the class relative to other students. Your grade will not be
based on a mandated target, but on your performance. Historically, the average grade for this class is
about A-/B+ (3.5).
Assignments and Grading Detail
Class participation
Because this class is built on in-class discussion and analysis, class attendance and active participation
are essential to your learning. Pre-class preparation is crucial. You should complete allassignments in
advance, and be prepared to describe the central ideas and offer your critical analysis of readings and
cases (SeeAppendices C, D, and E). You are expected to prepare for speaker visits by doing research ontheir companies. This preparation will help you to ask meaningful questions and gain maximum benefit
from the opportunity these visits afford. In addition, you are expected to read the business press,
seeking articles pertaining to the topics covered in the course, and particularly the area you have chosen
for your team projects. As class experts on your sector, you are expected to contribute examples and
applications regularly.
To encourage you to participate actively in class, I will cold call, and I will grade class participation. Class
participation will provide a material portion of your grade. My logic for grading class participation is quite
simple: Grading of class participation motivates class participation, and having highly interactive class
sessions helps the learning process. Active class participation encourages students to be well prepared and
thus to become active, rather than passive, learners. Participation provides students with the opportunityto gain from the experiences and talents of everyone in the class. And class participation helps students
improve their oral communication skills. This is important because research shows that people in business
tend to spend very little time reading and even less time writing reports. A great deal of managers and
other professionals interactions with others are through oral communication.
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Class participation evaluations will be based primarily on the quality of the contributions to our classroom
discussions. To help you understand what I am looking for regarding class participation, I have listed below
some questions I will try to answer in evaluating class participation:
(1) Does the class member make points that are especially pertinent to the discussion? Do theyincrease the understanding of the class or are they simply a regurgitation of the problem or
case facts?
(2) Is there continuity in one's contribution from what has been said previously during class, or arethe comments disjointed, isolated, or tangential? The best class contributions are those that
reflect not only excellent preparation, but also good listening, interpretive and integrative skills.
(3) Do the comments reflect a willingness to put forth new, challenging ideas or are they alwaysagreeable and "safe"?
(4) Is the participant able and willing to interact with others by asking questions, providingsupportive comments or challenging constructively what has been said?
I will evaluate participation on a scale, the end points of which can be described as follows:
Outstanding Contributor: This person's contributions reflect exceptional preparation, and the
ideas offered are always substantive and provide major insights and direction for the class. If this
person were not a member of the class, the quality of the discussions would be diminished
significantly.
Unsatisfactory Contributor: This may be a person who is absent from class or rarely participates in
class discussion. Alternatively, this persons contribution in class reflects inadequate preparation
and/or understanding. Ideas offered are not substantive and provide few, if any, insights and rarely
or never a constructive direction for the class. Integrative comments and effective arguments areabsent. Class comments are either obvious, isolated from the main discussion, or confusing to the
class.
If you are not present, are late, or leave early, you will lose points for class contribution. Each student is
allowed three absences, no questions asked and no penalty. However, since you cannot participate if
you are not present, all further absences will reduce the student's course grade, at the rate of one-third
a letter grade for every additional absence. Students with an excessive number of absences are at risk of
failing the course.
If an emergency has prevented you from thorough preparation in a particular class, please let me know
in advance to spare us both the embarrassment of my calling on you.
Finally, a few words about classroom etiquette: An atmosphere ofmutual respectis in order. So
please...
arrive at class on time: late arrivals are disruptive to your fellow classmates and to the conduct ofthe class;
turn off your cell phones before you enter the classroom; do not engage in side conversations during class; do not pack up and leave towards the end of the class until it is clear the class is over.
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Midterm and Final Examinations
The midterm and final examinations will consist of multiple types of questions (i.e. may include short
answer, essay, analysis of a case or article etc.).
NOTE: Except under extraordinary circumstances, no makeup examinations will be given for the
midterm exam. A student who misses the midterm will be assigned 80% of the score he or she earns the
final exam as a grade for the missed exam. A student must take the final exam AND complete all other
course requirements to receive a passing grade for the course.
Team assignments: Retail Sector Analysis and Final Group Research Project on a Company:
Students will form teams of 5 members by the end of the second week of classes. These teams will be
responsible for a sector analysis and a final research project on a company within that sector. (See
Appendix F.)
These two team projects (5 students per team) will give students the opportunity to develop expertise
on a particular sector within the retail industry and then prepare a comprehensive analysis on a
company within that sector. Sector analyses will be presented by student groups on several days shortlyafter the midpoint of the semester, and the final comprehensive company analysis (including
recommendations) will due in writing in the last class.
Sector selection: We will have no more than one team representing a sector. Members of that
team will become sector experts, and are expected to read the press throughout the
semester, and bring up examples from that sector as we discuss various topics. Please see
Appendix: Sector Analysis and Final Group Research Projectfor sectors available for selection
and further information.)
You will provide me names of your team members and top three sector choices at the
beginning of class on January 23. You will also email me electronic backup copy within 24hours. Be sure to write the course number (MKT 534), and the words sector preferencesin the
subject line of the email. If there are multiple groups with the same preferences, I will randomly
assign sectors.
Notes:
1. Sector preferences must be submitted in typewritten form, following format guidelinesdiscussed in this syllabus under Marshall and Course Guidelines.
2. Your sector preference list must identify key companies in the sector, including somepublicly traded companies.
3. You must provide first, second, and third sector choices.4. You must provide names of all group members.5. For email copy, you must include the course number (MKT 534), and the words sector
preferences in the subject line of the email.
6. Pleaseprovide all information in the body of the email, NOT in an attachment.Sector presentations: The sector presentations will occur on several days just after the midpoint
of the semester. Presentations may range from 15-20 minutes. You will provide me with hard
copy of your talking document Slides, PowerPoint Notes, and Appendicesat the beginning
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of your presentation, and email me a backup copy within 24 hours. Be sure to write the course
number (MKT 534), your group number, and the name of the sector in the subject line of the
email. See requirement for deliverable in Appendix F: Guidelines for Sector and Company
Analyses).
Final research paper on company within your sector: You will propose, in writing, a company
for the final report no later than the date of the first sector presentations. I will approve all
company proposals. The final company research analysis will be in written form (10-12 pages)
and turned in on the last day of class. You will also attach the graded copy of your sector
analysis. You will also email me a backup copy of your final report within 24 hours. Be sure to
write the course number (MKT 534), your group number, the name of the sector, and the name
of the company in the subject line of the email. See Appendix: Sector Analysis and Final Group
Research Project.
Additional information will be provided in class.
Peer Feedback and Peer Evaluations (SeeAppendices G andH)
This course relies heavily on teamwork. In addition to the team assignments, I strongly encourage you tomeet in teams to prepare for class. Your learning from this course will be greatly augmented by team
preparation.
Following the sector presentation, students should complete the appended Peer Feedbackform. This
form is designed to help your team identify and addresses any team process issues after the first
major team assignment, so as to enhance team effectiveness for the final project. After the sector
analysis, this form should be completed, sent to each of your team members and discussed in a team
meeting. The Peer Feedbackform is for you to provide feedback for your team onlyit is not to be
turned in to me.
The Peer Evaluation form, also appended, is for me and will be turned in the last day of class, once thefinal company project has been completed. The peer evaluation covers BOTH the sector analysis and
the final company project. Completion of the Peer Evaluation form is a course requirement, and will be
considered part of class participation.
Marshall And Course Guidelines
Add/Drop process
You may be dropped from this class if you do not attend the first two sessions. Please note: If you decide
to drop, or if you choose not to attend the first two sessions and are dropped, you risk being not being
able to add to another section this semester, since they might reach capacity
No makeup midterm examinations
Except under extraordinary circumstances, no makeup examinations will be given for the midterm
exam. A student who misses the midterm will be assigned 80% of the score he or she earns the final
exam as a grade for the missed exam. A student must take the final exam AND complete all other course
requirements to receive a passing grade for the course.
Students with disabilities
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Any student requesting academic accommodations based on a disability is required to register with
Disability Services and Programs (DSP) each semester. A letter of verification for approved
accommodations can be obtained from DSP. Please be sure the letter is delivered to me as early in the
semester as possible. DSP is located in STU 301 and is open 8:30 a.m. 5:00 p.m., Monday through
Friday. The phone number for DSP is (213) 740-0776.
Technology policy
Laptop and Internet usage is not permitted during academic or professional sessions unless otherwise
stated by the respective professor and/or staff. Use of other personal communication devices, such as
cell phones, is considered unprofessional and is not permitted during academic or professional sessions.
ANY e-devices (cell phones, PDAs, I-Phones, Blackberries, other texting devices, laptops, I-pods) must be
completely turned off during class time. Upon request, you must comply and put your device on the
table in off mode and FACE DOWN. You might also be asked to deposit your devices in a designated area
in the classroom. Videotaping faculty lectures is not permitted, due to copyright infringement
regulations. Audiotaping may be permitted if approved by the professor. Use of any recorded material is
reserved exclusively for USC Marshall students.
Assignment submission deadlinesAssignments must be turned in on the due date/time specified and in the manner specified (hard
copy/online/etc.). Any assignment turned in late, even if by only a few minutes, will receive a grade
deduction. Deduction will depend upon period of lateness. For fairness, late penalties will be applied at
a rate of 1/3 letter grade per day or part thereofe.g. being 2 days late would drop an A paper to a
B+, a B to a C+, etc. Group presentations MUST be given on the date assigned in order for credit to
be received. You must complete all required assignments to pass this course.
Formatting of assignments
All assignments must be typed on plain white 8 x 11 paper in 11 or 12-point font with one-inch
margins around the page. All assignments must include acover page with assignment title, course title
and number, section number, date, and, for team projects, each team members name with e-mailaddress. All text material (not tables or references) must be double-spaced. All pages, including slides,
must be numbered. Papers should be fastened with a staple in the upper left cornerno folders please.
Creative formatting may result in penalty.
Power Point slides submitted as hard copy MUST be legible. Usually (but not always) 2 slides per page
will work. Also, there must be sufficient white space for comments. Number all slides.
Any appendices must support and be referenced in the body of your report.
Return and retention of graded coursework
Students who miss class sessions when assignments are returned are responsible for arranging an
appointment to retrieve their materials. To keep things fair for future students, I do not allow students
to take their quizzes or exams out of the classroom. You may look these over in my office at any time.
Final exams and all other graded work which affect the course grade will be retained for one year after
the end of the course ifthe graded work has not been returned to the student; i.e., if I returned a
graded paper to you, it is your responsibility to retain it.
Academic integrity
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The following information on academic integrity, dishonesty, and the grading standard are placed here
at the recommendation of the Marshall School of Business Faculty and are taken from the Faculty
Handbook. Additional statements about student conduct and academic integrity may be found in the
SCampus Handbook, online athttp://www.usc.edu/go/scampus and from the Office of Student Judicial
Affairs and Community Standards, found online athttp://www.usc.edu/student-affairs/SJACS/ .
The University, as an instrument of learning, is predicated on the existence of an environment of
integrity. As members of the academic community, faculty, students, and administrative officials share
the responsibility for maintaining this environment. Faculty has the primary responsibility for
establishing and maintaining an atmosphere and attitude of academic integrity such that the enterprise
may flourish in an open and honest way. Students share this responsibility for maintaining standards of
academic performance and classroom behavior conducive to the learning process. Administrative
officials are responsible for the establishment and maintenance of procedures to support and enforce
those academic standards. Thus, the entire University community bears the responsibility for
maintaining an environment of integrity and for taking appropriate action to sanction individuals
involved in any violation. When there is a clear indication that such individuals are unwilling or unable
to support these standards, they should not be allowed to remain in the University. (Faculty Handbook,
1994: 20)
Academic dishonesty includes: (Faculty Handbook, 1994: 21-22)
1. Examination behavior - any use of external assistance during an examination shall be considered
academically dishonest unless expressly permitted by the teacher.
2. Fabrication - any intentional falsification or invention of data or citation in an academic exercise will be
considered a violation of academic integrity.
3. Plagiarism - the appropriation and subsequent passing off anothers ideas or words as ones own. If the
words or ideas of another are used, acknowledgment of the original source must be made through
recognized referencing practices.
4. Other Types of Academic Dishonesty - submitting a paper written by or obtained from another, using apaper or essay in more than one class without the teachers express permission, obtaining a copy of an
examination in advance without the knowledge and consent of the teacher, changing academic records
outside of normal procedures and/or petitions, using another person to complete homework
assignments or take-home exams without the knowledge or consent of the teacher.
The use of unauthorized material, communication with fellow students during an examination,
attempting to benefit from the work of another student, and similar behavior that defeats the intent of
an examination or other class work is unacceptable to the University. It is often difficult to distinguish
between a culpable act and inadvertent behavior resulting from the nervous tensions accompanying
examinations. Where a clear violation has occurred, however, the instructor may disqualify the
students work as unacceptable and assign a failing mark on the paper.
Classroom etiquette
An atmosphere of mutual respect is in order. So please...
arrive at class on time: late arrivals are disruptive to your fellow classmates and to the conduct ofthe class;
turn off your cell phones before you enter the classroom; do not engage in side conversations during class;
http://www.usc.edu/go/scampushttp://www.usc.edu/go/scampushttp://www.usc.edu/go/scampushttp://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/go/scampus7/28/2019 MKT 534
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do not pack up and leave towards the end of the class until it is clear the class is over.
Emergency preparedness/Course continuity
In case of emergency, and travel to campus is difficult, USC executive leadership will announce an
electronic way for instructors to teach students in their residence halls or homes using a combination of
Blackboard, teleconferencing, and other technologies. Instructors should be prepared to assign students
a "Plan B" project that can be completed at a distance. For additional information about maintaining
your classes in an emergency please access:http://cst.usc.edu/services/emergencyprep.html
Please activate your course in Blackboard with access to the course syllabus. Whether or not you use
Blackboard regularly, these preparations will be crucial in an emergency. USC's Blackboard learning
management system and support information is available atblackboard.usc.edu.
About Your Professor
Judith Blumenthal has published, taught, and consulted in the areas of strategic management,
organizational development and leadership, retail and services management, strategic alliances, and
corporate governance. She has also served as a senior corporate executive. Dr. Blumenthal was
Associate Dean of the Marshall School of Business (January 1996 through March 2000) and USCs Chief
Alumni Officer (April 2000 through June 2006).
She currently serves on the Board of Directors of Guess? Inc. as well as not-for-profit boards-- the Board
of Directors of the California Council on Economic Education and the Advisory Board of USC Radio. She
has also served on the District Board of Directors of the Council for Advancement and Support of
Education (CASE), the Community Advisors for the Natural History Museum of Los Angeles County, and
the USC Alumni Association Board of Directors.
She received her bachelors degree in English from Hunter College of the University of New York, and
her M.B.A. and Ph.D., Business Administration, from USC.
http://cst.usc.edu/services/emergencyprep.htmlhttp://cst.usc.edu/services/emergencyprep.htmlhttp://cst.usc.edu/services/emergencyprep.htmlhttp://blackboard.usc.edu/http://blackboard.usc.edu/http://blackboard.usc.edu/http://blackboard.usc.edu/http://cst.usc.edu/services/emergencyprep.html7/28/2019 MKT 534
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MKT 534 RETAIL STRATEGY
PROJECTED CLASS SCHEDULE SPRING 2013
****You are responsible for any changes announced in class or on Blackboard****
Cl D Date Topics
Assignments
Readings
Text, ARES, CP(Course Packet),BB
Cases
In Course Packet1 M 1/14 Introduction Text: Ch. 1
2 W 1/16 Success in Retailing BB: Drexler article; Read for next
week!
M 1/21 MLK Birthday--Univ. Holiday
3 W 1/23 Types of Retailers
Sector Preferences Due
Text: Ch. 2.3
ARES: Zhang et al. Crafting integrated
multichannel retailing strategies
ARES: Strugatz, The Year in E-Tail
4 M 1/28 Retail Market Strategy Text: Ch. 5
ARES: Crawford & Mathews, Myth of
Excellence (excerpts)
CP: Surviving Disruption
QVC (897-050)
5 W 1/30 Consumer Buying BehaviorStore Layout and Design
Text: Ch. 4, 17ARES: Underhill, P. Why we buy.
(excerpts)
ARES: Strauss, In store aisles, less is
more but customers can still be
particular
ARES: Iyengar,A better choosing
experience
6 M 2/4 Retail Financial Strategy Text: Ch. 6
7 W 2/6 Retail Financial Strategy, cont. Diamond Retailing: Blue Nile,
Zales, & Tiffany (KEL394)
8 M 2/11 Guest Speaker
Mike Relich, Guess, Inc.
EVP & Global Chief Information Officer
Information Systems and Supply Chain
Management, CRM Text: Ch.10,11
9 W 2/13 Info.Systems/Supply Chain/CRM (Review)
Merchandise Planning and Buying Text: Ch. 12,13
M 2/18 Presidents DayUniv. Holiday
10 W 2/20 Merchandise Planning and Buying, cont.
11 M 2/25 Merchandise Pricing Text: Ch. 14
ARES: AP-J.C. Penney gets rid of
hundreds of sales
ARES: Cespedes et al. Raise your prices
ARES: Fishman, The man who said no
to Wal-Mart
ARES: Kadet, Price-point politics
12 W 2/27 Guest Speaker
Neil Watanabe, Executive VP and CFO
Annas Linens
Retail Locations and Site Location Text: Ch. 7,8
13 M 3/4 Retail Locations/Site Location (Review)
Human Resource Management
Midterm Review
Text: Ch. 9
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Cl D Date Topics
Assignments
Readings
Text, ARES, CP(Course Packet),BB
Cases
In Course Packet
14 W 3/6 Guest Speaker
Ken Stevens, Multiple CEO/President
Positions and BODs in retail
15 M 3/11 Midterm Examination
16 W 3/13 Guest Speakers, Trader JoesJon Basalone, EVP Marketing
Bryan Palbaum, EVP, Finance and Admin
ARES: Kowitt, Inside Trader Joes
3/18-
3/23
Spring Recess
17 M 3/25 Sector Presentations I
Final company proposals due
18 W 3/27 Sector Presentations II
19 M 4/1 Sector Presentations II
20 W 4/3 Guest Speakers
Mike Jannini, President
Cheesecake Factory with
Alex Cappello, Chairman & CEO
Cappello Capital Corp., and
Lead Director, Cheesecake Factory
21 M 4/8 Retail Communication Mix
Careers in Retail
Text: Ch. 15,
Text: Ch. 16
-Beverly Stern Retail Executive
(604-018)
22 W 4/10 Guest speaker
Mark Werts
Founder/Chief Executive, American Rag
23 M 4/15 Guest Speaker
Wendy Klarik
Senior VP and GMM, Guess? Inc.
24 W 4/17 Customer Service as Competitive
Advantage
Text: Ch. 18
CP: Spenner and Freeman, To keep
your customers, keep it simple(R1205G)
ARES: Berry, Serving unfair customers
Mitchells/Richards (604-010)
25 M 4/22 Historical Perspective on Retailing ARES: Evans, J. Retailing in perspective:
the past is a prologue to the future
Marshall Field and the Rise of
the Department Store (801-349)
26 W 4/24 Luxury Retailing BB: BCG, Luxe Redux Burberry (504-048)
27 M 4/29 Unique Positioning IKEA (504-094)
28 W 5/1 Final Papers Due
Course Wrap-up and Review
BB: BCG, Retail 2020
29 W 5/8 MKT 534 Final Exam 4:30-6:30 PM
Regular Classroom
1. All readings and cases are to be thoroughly prepared in advance of class.2. Additional readings may be added during the semester. They may be available electronically or require purchase at the
Bookstore.3. Guest speakers will be an important part of the course. Speakers may be added and/or rescheduled during the semester,
which may cause adjustments to this schedule.
You are expected to prepare for all speaker presentations by doing individual research on their companies.
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Appendices
Table of Contents
Appendix A
Course PacketTable of Contents
Appendix B
ARESTable of Contents
Appendix CCase Assignment Questions
Appendix D
Guidelines for Case Analysis
Appendix E
Guide to Article Analysis
Appendix F
Sector Analysis and Final Group Company Project
Appendix G
Peer Feedback Form
Appendix H
Peer Evaluation Form
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Appendix A
Course PacketTable of Contents
Articles
Surviving disruption (R1212C) To keep your customers, keep it simple (R1205G)
Cases
QVC (897-050) Diamond Retailing: Blue Nile, Zales, & Tiffany (KEL394) Marshall Field and the Rise of the Department Store (801-349) Beverly Stern Retail Executive (604-018) Burberry (504-048) IKEA (504-094)
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Appendix B
ARESTable of Contents (as of 1/7/13)
(Additional readings may be added during the semester)
D'Innocenzio, A.Associated Press Online
J.C. Penney gets rid of hundreds of sales
Berry, L.L. and Seiders, K.Business Horizons
Serving unfair customers
Fishman, C.Fast Company
The Man Who Said No To Wal-Mart
Kowitt, BethFortune
Inside Trader Joe's
Strauss, M.Globe and Mail Update
In store aisles, less is more but customers can still be particular
Evans, J.International Review of Retail, Distribution and Consumer Research
Retailing in perspective: the past is a prologue to the future
Zhang, J, . Faris,P Irvin, J.,
Kushwaha,T. Steenburgh, T &
Weitz, B
Journal of Interactive Marketing
Crafting Integrated Multichannel Retailing Strategies
Iyengar, Sheena and Agrawal,
Kanikastrategy+business
A Better Choosing Experience
Crawford, F. and R. MathewsThe Myth of Excellence
Excerpts
Kadet, Anne
Wall Street Journal
Price-Point Politics
Cespedes, Frank, Ross, Elliot,
and Shapiro, BensonWall Street Journal
Raise Your Prices
Underhill, P.Why We Buy
Ch 3, 5, 8 (Exerpts)
Strugatz, R.WWD.com
The Year in E-Tail: Lessons Learned and Looking Ahead
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Appendix C
Case Assignment Questions
QVC
1. Is QVC conducting e-commerce?2. Define the Existing Value chain for traditional retailers. What is QVCs Value system? Is QVC
operating as a marketplace or marketspace company? What seed opportunities has QVC
exploited?
3. Define QVCs value proposition. Which of the 7cs is/are the focus of why QVC can deliver valueto the target market better than HSN? Diagram QVCs resource systems. How does the resource
system support the value proposition?
4. Consider this quote, QVC does not fit any existing marketing theory. Do you agree? Defendyour position.
5. Which capabilities of the resource system are readily leveraged for Internet based commerce?Diamond Retailing: Blue Nile, Zales &Tiffany
See questions included at the end of the case
Marshall Fields and the Rise of the Department Store
1. In the 1850s and 1860s, how did Field view the possibilities for mass distribution? Where did heget his information?
2. How did he act on this information and his larger vision? Which business practices madeMarshall Field so successful?
3. How were Fields strategic initiatives related to the broader environment?4. How would you evaluate Field as an entrepreneur? As an institution builder?5. What were the most important lessons of Fields experience for brand creators and stewards
today?
Beverly Stern Retail Executive
1. What aspects of Beverly Sterns career in retailing appeal to you? (Explain)2. What aspects do not appeal to you? (Explain)3. Do you think she should accept the position with Gymboree? Why or why not?
Mitchells/Richards
1. In 2003 Mitchells/Richards was bringing in over $65 million in annual revenues in its twoConnecticut stores, and industry observers had identified the company as one of the most
successful clothing retailers of its size, with higher sales per square foot than any other mens
clothing store in the US. Analyze the business model of this upscale retailer to identify the
elements that seem to you most critical to its success thus far.
2. What options should the Mitchell family consider for its business going forward? For example,should they be looking to expand the range of products they sell, within largely the same
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market, or to expand the markets in which the company operates, with the same kinds of
product lines? Or is expansion unrealistic, given your understanding of the business model? That
is, is it unrealistic for Mitchells/Richards to survive as a family business that will sustain a fourth
generation of owner/managers?
3. What do you recommend they do, and why?Burberry
1. Compare Burberrys market position relative to that of its competitors, including Polo, Coach,Armani, and Gucci. Is Burberrys competitive position sustainable over the long-term? Why or
why not?
2. Because demand tends to be unpredictable in the world of fashion, the fashion business isinherently risky. In this context, consider the various changes Bravo made upon her arrival at
Burberry. To what extent have these changes exacerbated or mitigated Burberrys risk profile?
3. Bravos team is currently juggling a lot of things, including multiple brands (Prorsum, London,Blue and Black, Thomas Burberry), multiple collections (womenswear, menswear, accessories),
multiple channels (wholesale, retailincluding flagship and company-owned stores), and
multiple licensees. What is the role of each of these elements in Burberrys overall businessmodel? For example, what is the role of each of the sub-brands? What is the role of the
company-owned stores? What is the role of licensing?
4. The case notes that Bravos team has managed to elevate the overall status of the Burberrybrand. How has it managed to accomplish this?
IKEA
1. What factors account for the success of IKEA?2. What do you think of the companys product strategy and product range? Do you agree with the
matrix approach described in Figure B of the case?
3. Despite their success, there are many downsides to shopping at IKEA. What are some of thesedownsides? IKEAs Visions Statement (in Figure C of the case) describes how the company seeksto build a partnership with its customers. What do you think of the vision statement?
4. The fact that IKEA hopes to have fifty stores in operation in the US by 2013 is an indication ofhow optimistic the company is about the viability of its value proposition in this country. Do you
think IKEAs growth plans are overly optimistic? How would you improve IKEAs value
proposition to make it even more attractive to American consumers?
5. To achieve its planned growth, should the company change its product strategy? If so, how?Product range? Number of styles and price points? Other?
6. How do think IKEAs value proposition and product lineup will look in ten years?7. Some industry observers have suggested that IKEA should open a number of smaller, satellite
stores across the US (e.g. in shopping malls, strip malls, etc.) What do you think of this idea?
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Appendix D
Guidelines for Case Analysis
Think of yourself as a consultant to the client in the case. For each case, imagine that you have been
given a chance to study an organization and come up with a diagnosis and a set of recommendations. As
with many real-world situations, the issues to be resolved may not be obvious. Study questions are
provided, but these are offered only to get your thinking going they are not an agenda for your
analysis or for our discussion. It is for you to identify the specific issues posed by the case, decide how
they can be best addressed, and come to each class prepared to present and defend your own analysis.
Most of these cases present a well-rounded picture of a business situation: they are not merely
illustrations designed to exercise or test your knowledge of a given article or chapter of the textbook. As
a result, the concepts needed to analyze the case and to formulate an appropriate action plan are not
narrowly bounded by the textbook or specific readings. In many cases, you will find it useful to invoke
concepts from earlier in the course, from other courses, or from your own experience.
Note: Please do notgo outside the materials I have provided, since that will undermine the quality of
the class discussion.
How to Approach a Case: Key Questions
For each case, clearly identify the client. For whom are you performing the analysis and making
recommendations? This is the person who will need to implement your recommendations (assuming
s/he accepts them!)
The basic questions for all cases are essentially the same:
1. What is the most critical challenge the client and the organization need to address? Why is itimportant to address this challenge?
2. What makes addressing this challenge difficult?3. What is your analysisof the underlying, or root issues responsible for the situation that make it
difficult to address? What evidence do you have that this is, in fact, the underlying, or root, cause?
(Digging for the source of the challenge is where the major part of your analysis will focus!)
4. What alternatives does the organization have in tackling these issues, and which alternative makesmost sense? Make sure that you propose just a few alternative solutions that actually address the
underlying issues you have identified! Were not interested in a laundry list of good ideas you have
for the company. We are interested in solving a particular issue.
5. What specific action plan would you recommend? Why?How to Approach a Case: The Process
The following approach to case analysis has proven helpful.
a. Rapidly read the case to get a sense of layout and a general understanding of backgroundand issues. During this initial reading, try to form preliminary hypotheses. Initial impressions
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can be revised, but this groundwork will provide structure and direction for more in-depth
reading.
b. Carefully re-read the case,--i. Take notes that organize information and separate the wheat from the chaff.ii. Test and refine your hypotheses as you read, modifying or rejecting them as new
information surfaces.
iii. Clarify what the key challenges really are. These are the challenges yourrecommendations will address. They may or may not have been obvious on first
reading.
iv. Develop analysis questions to help illuminate the situation on which action needs tobe taken. What do you need to understand that is not apparent in the case?
c. Perform qualitative and quantitative analyses, as appropriate. If important data are notavailable in the case, precise descriptions of what data are missing often trigger ideas for
making creative use of the information that is available, or for developing well-informed
assumptions about necessary but missing information. Be sure to distinguish between
factual data from the case, opinions of actors in the case, and assumptions you
make. REMEMBER: Your objective is to get beyond the level of problem symptoms to
analyze underlying issues and causes.d. Identify and evaluate reasonable alternative courses of action, based on appropriate
criteria. You will explicitly consider and reject various alternatives: Some may not be
effective in addressing the issues you identified, others may cause more problems than they
solve or cost more than they are worth, others may not be feasible or acceptable to
management (solutions should be compatible with the values and preferences of
management and those who will implement them). In formulating alternatives, avoid cop-
outs such as: "Hire a new president who can solve the problem," Conduct market
research," or "Hire a management consultant to solve the problem.
e. Decide on a course of action to recommend. Your solutions must address the challengesyou have identified and follow logically from your analysis. Remember: Goals are not
recommendations for action. Dont say, Improve the culture, unless you can offer a planto accomplish it.
f. Recommend a plan by which the desired action may be achieved or implemented within theconstraints encountered in the situation. This is a good final acid test. If you solution is
not do-able, it is not a good solution.
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Appendix E
Guide to Article Analysis
The following set of questions is provided to guide your analysis of the readings assigned this
semester. Please use this guide to structure your article analyses.
1. What is the purpose or objective of this article? (To challenge or debunk a well-acceptedview; to contribute to a body of theoretical work; to explain a puzzling exception; to update
theory in response to current phenomena; etc.)
2. What is the articles basic argument/thesis? Its major findings/ conclusions?3. What is the nature of evidence presented in support of the argument/
thesis? (Impressionistic, theoretical, empirical, etc.) Are the conclusions well supported?
4. Are there important assumptions, assertions, values, or biases that the author expects us toaccept without support? Are these explicit or implicit?
5. How does this article contribute to your overall understanding of the subject? How does itrelate to other articles you have read and to your own knowledge and experience?
6. How useful is the article for practicing managers?7. Does the article leave you with any remaining problems or concerns?
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Appendix F
Sector Analysis and Final Group Research Project
These two team (5 students per team) research projects are related. In the first part, you will present
research and analysis about a sector in the retail industry, and in the second project, you will prepare a
complete analysis of a real retail company in that sector, including recommendations for its future.
Details for sector selection submission are provided in body of syllabus, in section, Assignments and
Grading Detail. You will propose a company within the sector for your final analysis no later than the
date of the first sector presentations. I will approve all companies for final projects. Additional details
will be discussed in class.
Sector Analysis
The sector analysis is basically similar to an industry/strategic group analysis in a strategy class. You will
make a 15-20 minute presentation and turn in a Power Point report, including exhibits and a
bibliography of articles and other sources for information used in making your report. Sources will
include 10K reports atwww.sec.gov, articles in magazines and newspapers found through library
database, company web sites, etc., as well as data discovered through primary research (e.g. interviews
with store executives). You must provide sources for your data on individual slides and inbibliography.
Sectors available for selection are:
Womens apparel and accessories stores Department stores Food stores Mens Electronics and entertainment Books Mass, club, dollar Childrens Jewelry Shoes Furniture Office supply Hard goods Sporting goods Auto Drug Do-It-Yourself
Final Written Company Report:
You must select a publicly traded company for which financial data are readily available. While the company does not have to be locally-based, it should have stores that you will be able
to visit.
The company may not be one that the class is studying in a case analysis this semester.
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I will approve all student projects, and will make assignments if preferences are not submittedon time.
Your assignment is to prepare an analysis of the retail firm within a sector. You will identify the
retailers strategy and compare your focal retailer to its direct competitors in terms of: the
retailers target market and positioning, its retail mix (merchandise variety and assortment,
pricing, locations, etc.), and its bases for developing a competitive advantage. Include a financial
analysis for the retailer comparing its present to past performance and the performance of
competitors. Based on your analysis, make recommendations for your retailers future strategy.
Your group will turn in a paper, approximately 10-15 pages, plus, exhibits and a bibliography of
articles and other sources for information used in making your report. Sources will include 10K
reports atwww.sec.gov, articles in magazines and newspapers found through library database,
company web sites, etc., as well as data discovered through primary research (e.g. interviews
with store executives). You must provide sources for your data on individual slides and in
bibliography.
The report should contain a comprehensive analysis, including important detail concerningrelevant competitors, an in-depth company analysis, and recommendations for top
management, with supporting logic. All reports are due at the beginning of the last class.
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Appendix G
Peer Feedback Form
After your team presentation, you need to give each of your team members feedback and then discuss all
this feedback in your team.
The simplest way to proceed is to fill out the form below, give it to each of your team members and
discuss it in a team meeting:
You will share this form with your team members, not with me.
I like the way you I wish you
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Appendix H
Peer Evaluation Form
This form must be completed and submitted to me on the last day of class. Aggregate results may cause
me to adjust individual grades for team projects up or down. Please consider overall contribution of team
members to the two team projects, taking into account the following:
Preparation: Rate the extent to which the member completed the necessary assignments, had read the
related material, and was ready to contribute to the team.
Input: Rate the extent to which the member provided valuable input of ideas towards the teams work.
Diligence: Rate the extent to which the member took on the necessary roles to complete the teams
work, their timeliness in completing and distributing work, and the quality of the work performed.
Facilitation: Rate the extent to which the member helped the team maintain a positive climate and work
together effectively.
Please follow directions carefully!
Allocate 100 points across all the members of your team apart from yourselfto reflect your assessment
of their individual contributions to the team effort. I will treat your assessments as confidential.
Your name: ____________________________________________________
Course name: ___________________ Date form completed_____________
Course number:_________________ Section number:__________________
Group #: _____________________
Team-member name: Contribution %: Comments
1. _____________________ _____ _______________________________
2. _____________________ _____ _______________________________
3. _____________________ _____ _______________________________
4. _____________________ _____ _______________________________
5. _____________________ _____ _______________________________
Total: 100%
General Comments (Use additional page if necessary):
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________