ML0017-Mall Management

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ASSIGNMENT

DRIVE	FALL 2015
SUBJECT CODE & NAME	ML0017-Mall Management
CREDIT	4
BK ID	B1843
MAX.MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Explain Retail Trade Area and the different models related to it.

Answer: In community economic development, a trade area is the geographic area from which a community generates the majority of its customers. This often is the geographic area that represents 75-percent of current customers.  Sometimes a community may have more than one trade area (such as a convenience and a destination trade area). Knowing the size and shape of each trade area is extremely important because its boundaries allow for measurement of the number of potential customers, their demographics, and their spending potential. This information provides valuable insight into your community’s customer base and allows you to calculate demand for stores, products, and services.

This section includes information on how to define your trade area(s).  You will be able to apply these methods to define the most appropriate geographical

2 Elaborate the characteristics of International Standards of Shopping Malls.

Answer: A shopping center is a group of retail and other commercial establishments that is planned, developed, owned and managed as a single property, typically with on-site parking provided. The center's size and orientation are generally determined by the market characteristics of the trade area served by the center. A list of common shopping center terms and their definitions are provided below:

·         Asia-Pacific Shopping Center Definition Standard - Proposal

·         Canadian Shopping Centre Definition Standard

·         European Shopping Centre Standard

·         U.S. Shopping-Center Classification and Definitions

·         U.S. Industry-wide Definition for Mixed-Use Development

A shopping mall is a modern, chiefly North American, term for a form of shopping precinct or shopping centre, in which one or more buildings form a complex of shops representing merchandisers with interconnecting walkways that enable customers to walk from unit to unit. A shopping arcade is a specific form serving the

3 “Tenant Management in malls is a very critical matter”. Elaborate

Answer: Tenant management organisations (TMOs) are organisations set up under United Kingdom law which allow residents of council housing or housing association homes in the UK to take over responsibility for the running of their homes.

Structure & operation

A TMO is created when residents, tenants and

4 Explain the use of In-Mall Ads to develop Experiential Marketing.

Answer: Here are four smart reasons to make experiential marketing part of your annual program:

1. Make Immediate Sales

Events that integrate entertainment with the chance to try a product are very popular. For example, home parties can be used to give customers the opportunity to experience the benefits of a product they can't buy in stores. In the Jack Morton survey, nearly 85 percent of women said they would bring family or friends to a live marketing experience, and three-quarters said they'd tell others about it. It's the event itself that separates experiential

5 “Shopping malls and complexes are places where people gather in great numbers and the occurrence of a disaster can result in heavy casualties”. Elaborate.

Answer: Disaster management (or emergency management) is the creation of plans through which communities reduce vulnerability to hazards and cope with disasters. Disaster management does not avert or eliminate the threats, instead it focuses on creating plans to decrease the impact of disasters. Failure to create a plan could lead to damage to assets, human mortality, and lost revenue. Currently in the United States 60% businesses do not have

6 Write short notes on:

a) Cooperative Advertising

Answer: Cooperative advertising means shared advertising. An external source such as a manufacturer or wholesaler pays majority of the advertising cost, which is of significant advantage for the retailer. In this respect, brand promotion is

b) Resource Based Analysis

Answer: The resource-based view (RBV) as a basis for the competitive advantage of a firm lies primarily in the application of a bundle of valuable tangible or intangible resources at the firm's disposal.To transform a short-run competitive

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