Lessons 9 And 10 Flashcards
3 types of goods sold and their location
Convenience goods- high traffic area
Shopping goods- best location is near other stores carrying shopping goods
Specialty goods- generate their own traffic. Consumers will make a special effort for these goods
4 step process diagram
1 choosing the region or metropolitan area
2 trade area analysis
3 assessing alternative sites
4 selecting the site
3 Types of market coverage
Regional dominance- retailer might decide to become the dominant retailer in a particular geographic area rather than locate around a number of outlets
Market saturation- similar to regional dominance but often limited to a single metropolitan market
Smaller communities- popular because it’s cheaper to open a store, markets are easier to serve, competition is less intense
What are 3 types of locations?
Shopping mall, central business district (downtown) , solo location
Name some advantages and disadvantages of a shopping mall location
Advantages: lots of people, parking availability, other entertainment available
Disadvantages: occupy costs, inflexibility with store, merchandise sold
Name some advantages and disadvantages of a downtown location
Advantages: Mass transit, business/work traffic generates exposure, urban redevelopment
Disadvantages: parking, limited shopping hours, rent costs, suburban shift
Name some advantages and disadvantages of a solo locations
Advantages: lack of close competition, lower rent, more space for expansion, greater flexibility
Disadvantages: Harder to attract customers, probably have to build instead of rent, hight promotion costs
What are 3 other factors to consider when choosing a store location?
merchants associations, responsiveness of the landlord, leases
Name 5 humans resource challenges
- training a non-traditional workforce
- competing for workers against industries the pay more
- finding and keeping good employees
- meeting expectations for sale increases, productivity and customer satisfaction
- remaining competitive she companies and downsizing
Definition of Job analysis
job analysis is a method for obtaining important facts about a job: what tasks does the worker accomplish how does the person do the job why is this job done what qualifications are needed
Definition of job description
the part of a job analysis which describes the content and responsibilities of the job and how the job ties in with other jobs in the firm
Definition of job specification
is the part of a job analysis which describes the personal qualifications required of an employee to do the job
What are some methods of recruiting applicants
Canada employment centres, the internet, private employment agencies, window signs, newspaper advertisements, schools
What are the six steps to set up an employee pay plan
- define the jobs
- evaluate the jobs
- price the jobs
- install the plan
- communicate the plan to empolyees
- appraise employee performance under the plan
what are the 4 most common methods of paying employees in retail?
- straight salary
- salary plus commission
- quota plus bonus
- straight commission
