BUS 453 Retail Management Final Application Project Options Fall 2011

As an individual or as a member of a team, you will conduct an application project consisting of either a) a Walk-through-Audit, b) the preparation of a short retail case focusing on a topic from the course syllabus, or c) the preparation of a proposed design for a new retail operation. A presentation of the project will be made during the last week of classes and final exam time. A project report of five pages or less plus exhibits will be due on the last day of classes. The Walk-through-Audit (WtA) Project involves the selection of a retail operation for which you prepare an audit questionnaire used by management to evaluate the operation from the perspective of a customer. A copy of the audit questionnaire, statistical analysis of the responses, and analysis of the gaps between management's perceptions and customer responses is expected in the report. A retail case similar to those found at the end of the chapters in the text and on Connect (only longer, more substantial than those) could prove valuable for future class discussion. The case should be written with a focus on a topic in the course syllabus. The case can illustrate a retail concept or present a quantitative problem. For students with an entrepreneurial bent an alternative to writing a short case could be the preparation of a proposed design for a new retail operation. At a minimum the proposed retail design should address all the elements in retail management, including retail channels, consumer behavior, retail strategy, merchandise management, and store management. Be sure to include information on the target market, identify your competitive strategy, and include a financial analysis of the economic viability.

Project Descriptions
Walk-Through-Audit 1. 2. 3. 4. 5. Select retail operation and get permission of management Prepare a first draft of the audit questionnaire and get feedback Conduct audit (survey customers and managers) Analyze perception gaps between customers and managers Prepare recommendations and present to management

Retail Case 1. Identify a retail operation and get management permission (or it could be hypothetical) 2. Prepare draft of a case focused on a retail topic. Possible topics include: creating consumer demand, segmenting the market, choosing a location, developing brand loyalty, choosing the merchandise mix, managing the supply chain, adding value, managing employees and customer service, creating a retail

experience, developing the communication mix any topic that we address in the course. 3. Present final case to management for approval Proposed Design for a New Retail Operation 1. Identify the target market. 2. Articulate a competitive strategy. 3. Address each element in retail management, including retail channels, consumer behavior, retail strategy, merchandise management, and store management. 4. Prepare a financial pro-forma statement. A Word of Caution. Doing this project in a team is your choice, and you are expected to handle the group dynamics (i.e., problems) internally (i.e., yourselves).