Instructions
Please answer the following essay questions using complete sentences.  Feel free to use any diagrams, tables, or drawings that will help clarify your answers.  The best answers will be thorough yet concise.  Brief, sketchy answers will not be rewarded with a majority of the possible points.  Sheer length does not substitute for quality.  Good luck!
 

1. Describe the “human resource challenge” for retailers.  Discuss four trends that are part of this challenge.

2. Discuss why many retail firms separate the merchandising and store management functions.  Describe four methods of coordinating merchandise management and store management.

3. Define and describe the use of GMROI.  How does GMROI relate to the margin-turnover tradeoff?

4. Describe fashion merchandise buying and staple merchandise buying.  Discuss three differences between these two types of merchandising/buying systems.

5. Compare communication methods based on personal/impersonal and paid/unpaid relative to their credibility, flexibility, cost, and control.

6. Compare and contrast the following store layouts: free-form, race track (loop), and grid.  Be sure to discuss the types of retailers most likely to use each type of layout.

7. Describe, compare, and contrast customized versus standardized customer service strategies.