\"If you build it, they will come\" not only worked in the movie Field of Dreams
ID: 1204789 • Letter: #
Question
"If you build it, they will come" not only worked in the movie Field of Dreams but also applies—big time—to Mall of America.
Located in a suburb of Minneapolis, Mall of America is the largest completely enclosed retail and family entertainment complex in the United States. "We're more than a mall, we're a destination," explains Maureen Cahill, an executive at Mall of America. More than 100,000 people each day—40 million visitors each year—visit the one-stop complex offering retail shopping, guest services, convenience, a huge variety of entertainment, and fun for all. 'Guest services' include everything from high school and college classrooms to a doctor's office and a wedding chapel.
The idea for the Mall of America came from the West Edmonton Mall in Alberta, Canada. The Ghermezian brothers, who developed that mall, sought to create a unique mall that would attract not only local families, but also tourists from the Upper Midwest, the nation, and even from abroad.
Two challenges Mall of America faces are: (1) attracting and keeping the large number of retail establishments; (2) continuing to attract even more visitors than it does today.
1.
To bring in 40 million customers in the first year, the Mall of America must offer a wide _________ to satisfy the heterogeneous tastes of so many different customers.
self-service product line
breadth of product line
full service product line
depth of product line
2
With 4.2 million square feet packed full of shopping and entertainment options, the Mall of America is best classified as a __________.
regional shopping center
community shopping center
central business district
strip mall
3 J.Crew serves its target market not only through mall stores such as the one found in the Mall of America but also online at jcrew.com. J.Crew has adopted a ________ retailing strategy.
single-channel
multichannel
concentrated
monochannel
4
The Mall of America provides a supportive environment for new entrepreneurs. Given the progression of the wheel of retailing, these entrepreneurs would likely present an offering with ________.
high price and low status
high price and high margin
high price and high status
low price and low status
5
If you work up a thirst walking around the Mall of America, you can grab a quick soda from a vending machine. This is an example of _________.
online retailing
full-service retailing
scrambled merchandising
nonstore retailing
Explanation / Answer
Ans:
1. breadth of product line
A product offering can contain one item or hundreds. The quantity of items in a product offering allude to its product offering profundity while the quantity of discrete product offerings possessed by an organization is the product offering width
2. community shopping center
The group mall contains the greater part of the aforementioned administrations notwithstanding a medium-sized retail chain or assortment store, which acts, with the general store, as a core interest. Wearing attire, machine deals, and repair stores are additionally found here.
3.multichannel
Multichannel showcasing is the capacity to associate with potential clients on different stages. In this sense a channel may be a print advertisement a retail store a site a limited time occasion an items bundle or even informal. Multichannel showcasing is about decision.
4. high price and high margin
Evaluating is a standout amongst the most crucial and very requested part inside the hypothesis of advertising mix.It helps shoppers to have a picture of the models the firm brings to the table through their items making firms to have an excellent notoriety in the business sector. The company's choice on the cost of the item and the evaluating procedure affects the customer's choice on regardless of whether to buy the item.
5. full-service retailing
Retail is the procedure of offering buyer products and/or administrations to clients through different channels of conveyance to win a benefit. Interest is made through assorted target markets and limited time strategies, fulfilling purchasers' needs and needs through an incline store network. Firm with an extensive scope of products offered at retail costs, and which gives counsel and nitty gritty data on merchandise sold through its prepared deals power.
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