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MKT 344 review 1

by: Hannah Hicks

MKT 344 review 1 MKT 344

Marketplace > Marshall University > MKT 344 > MKT 344 review 1
Hannah Hicks

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About this Document

project overview and study guide
Retail Management
Rex McClure
Study Guide
50 ?




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This 1 page Study Guide was uploaded by Hannah Hicks on Monday September 5, 2016. The Study Guide belongs to MKT 344 at Marshall University taught by Rex McClure in Fall 2016. Since its upload, it has received 10 views.

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Date Created: 09/05/16
Hannah Hicks MKT 344 Discussion 1 1/31/16 1. The retail strategy family dollar uses can work in different economic times because their merchandise is priced low but the quality is high. In a bad economy, saving money is very important to consumers and Family Dollar provides this the low prices. In a good economy, saving money is still important to consumers and with quality goods for a cheap price they can find this at Family Dollar to satisfy their needs. 2. Family Dollar is using a controllable factor as a retail strategy. Even though Family Dollar is reducing the number of their brands, they are increasing the amount of products with in that particular section. This is a con turned into a pro with merchandise management and pricing. By having smaller brands sold in stores, Family Dollar can monitor the value of the brand and be more aware of competition with it. Another pro of this reduction for Family Dollar could be, easy negotiation with their main supplier by purchasing in bulk and large variety of one brand. As states in the case, by reducing the number of brands it gives them a bargaining power and makes orders simple. The cons of this reduction are that customers may be disappointed with the low variety of brands. They might prefer a certain brand and take their business somewhere else. 3. Some of the competitive advantages for Family Dollar over conventional supermarkets and box stores is that customers go to Family Dollar because they know the prices will be lower. Also, the stores are all laid out the same way so if a customer goes to a different location, they can easily find what they are looking for. Disadvantages are other stores carry more name brand and higher value products. This can cause customers to go to a competitor such as Walmart where they can find a wider variety of products. 4. A full-line discount store such as Walmart can do competitively better because of the range of products from produce to clothing to electronics. Not only is Walmart bigger and well known, it has more brands in every category which gives the customer more selection.


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