MKT353 Retail Management ECA-July Semester 2024 Questions
Section A
Question 1
Rejuvenating Cineleisure Orchard
In its heyday, Cineleisure Orchard was a popular youth spot in the 2000s. This oncepopular mall, however, had degenerated into a dismal place with many boarded-up and empty stores. More recently, the mall started searching for new tenants in hopes of reviving itself, as part of the Ministry of Trade and Industry’s rejuvenation plan for Orchard Road. The entry of Ah Chew Desserts in 2020 and McDonald’s in 2023 has helped boosting the footfall to some degree, but Cineleisure Orchard is still relatively quiet especially during weekdays. Moreover, the increased traffic is concentrated mostly on the ground level, leaving other floors empty or closed.
“Hope things will pick up soon … If not, it’s very hard for us to sustain already and it will be a pity because we have been here for so long”, laments Mr. Trazo, who works at mobile phone accessories shop Beadstreet on Level 2.
Adapted for academic use from Channel News Asia (03 June 2023)
https://www.channelnewsasia.com/singapore/cineleisure-orchard-mall-ghost-town-youths-retail-3491856. Retrieved on 17 June 2024.
Task:
Assume that you are an entrepreneur that intends to open a retail store at Cineleisure Orchard. Prepare a presentation to the management team of Cineleisure Orchard, to pitch for a unit based on the questions below. Your presentation should persuade the management on how your store can contribute to the rejuvenation of Cineleisure Orchard.
[Important]
1. You must choose a new retail business (not an additional branch of an existing retail brand). You can decide on the nature of this business.
2. Only level 3 and level 4 are available for lease. Assume that any location you choose on level 3 or level 4 will be available for lease.
Question 1a
Propose a retail business that can help to “rejuvenate” Cineleisure Orchard. Provide a brief description of the retail store and the retail concept.
Your answer to this question should not exceed 200 words
Question 1b
Given the retail competition in Orchard Road, how can your store contribute to the rejuvenation of the mall? What competitive advantage does your store bring to Cineleisure Orchard? (hint: conduct some desktop research about retail competition around Orchard area).
Your answer to Question 1b should not exceed 200 words
Question 2
Identify possible segments, and determine the target segment(s) for your new store. Use a combination of two (2) or more variables for segmentation (hint: demographic, psychographic, or behavioural variables).
Your answer to this question should not exceed 500 words
Question 3
Formulate a communication strategy for your new business. Include both traditional and new media for communication.
Your answer to this question should not exceed 600 words
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Section B
Question 4
Prepare a video recording of the presentation based on Questions 1 to 3 above. The video presentation should be at least 3 minutes but not exceed 6 minutes. Refer to Canvas T/TG/RESIT course site > Assignments > ECA_VIDEO for the step-by-step guide on how to submit the video.
Section C
Question 5
Prepare a set of PowerPoint presentation slides upon which the video presentation is based. Please note that the PowerPoint must be converted to PDF before submission to Canvas