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Explain difference between extrinsic and intrinsic rewards

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Reference no: EM132015219

Question: Please be sure to answer all parts of each question. Please include concepts from text and lectures in your answer.

1. What's the difference between extrinsic and intrinsic rewards? What are the effects of these rewards on the behavior of retail employees? Under what conditions, would you recommend that a retailer emphasize intrinsic rewards over extrinsic rewards?

2. Amazon.com started as an Internet retailer selling books. Then it expanded to groceries, DVDs, apparel, software, travel services; introducing the e-readers; operating the Internet channel for other retailers; and hosting virtual stores for small, independent retailers. Evaluate these growth opportunities in terms of the probability that they will be profitable businesses for Amazon.com. What competitive advantage does Amazon.com bring to each of these businesses?

3. Neiman Marcus (a chain of high-service department stores) and Wal-Mart target different customer segments. Which retailer would you expect to have a higher gross margin? Higher expense to sales ratio? Higher inventory turnover? Higher asset turnover? Net profit margin percentage? Why? Also, why do investors place more weight on comparable store sales than growth in sales

4. A drugstore is considering opening a new location at shopping center A, with hopes of capturing sales from a new neighborhood under construction. Two nearby shopping centers located nearby, B and C, will provide competition. Using the following information and the Huff gravity model, determine the probability that residents of the new neighborhood will shop at shopping center A:

Shopping center

Size (000 Sq. Ft.)

Distance from new
Neighborhood (miles)

A

3,500

4

B

1,500

5

C

  300

3

5. Assume you are the grocery buyer for canned fruits and vegetables at a five-store supermarket chain. Del Monte has told you and your boss that it would be responsible for making all inventory decisions for those merchandise categories. It would determine how much to order and when shipments should be made. It promises a 10 percent increase in gross margin dollars in the coming year. Would you take Del Monte up on its offer? Justify your answer.

6. Go to the website for https://tenderlovingempire.com/find-us/ Look at the merchandise mix and review the site. What is the strategy of this retailer? Discuss why you feel its store location selection is consistent to its strategy. What other locations might you suggest for it?

7. Consider customer service at IKEA. How does this retailer utilize a self-service model as a competitive advantage strategy versus traditional furniture stores?
Think of one of your favorite places to shop. How does this retailer create customer loyalty and satisfaction, encourage repeat visits, establish an emotional bond between the customer and the retailer, and provide personal attention and memorable experiences to its "best customers"?

8. What should I have asked you? Write your own question and answer it... Points for quality of question and answer.

Reference no: EM132015219

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