Please be sure to provide information in all of the spaces provided below. When answering the Homework questions, please provide thorough, well-reasoned responses. Short answers will likely not result in high scores.
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1. Why do you think theme restaurants have been so popular in recent years? How do you explain the phenomenon of people being willing to wait in long lines, pay above-abverage prices for mediocre food, and then spend money on t-shirts and trinkets?
2. The Big Box category killers have made life rather difficult for small, traditional retailers. How can these smaller firms compete with these bigger foes?
3. It is not uncommon at any given time for the supply of retailers (i.e., number of stores) to exceed the demand for these retailer's products? Why do you think this ocurs? In other words, why are most cities "over-stored" and not "under-stored?"
4. There are three possible ways for retailers to conduct business today: solely as brick-and-mortar stores, solely as "virtual" online stores, and as a combination of the two. Which of these do you think is the best strategy? Why? Furthermore, is there a "best" answer that can govern all businesses here?
