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tony 1.doc Foreign Trade University IB 210

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CHAPTER TWO Discussion Questions 1. How would you characterize the competitive strategy of a high-end department store chain such as Nordstrom? What are the key customer needs that Nordstrom aims ... to fill? The Nordstrom web site states the following. Over the years, the Nordstrom family of employees built a thriving business on the principles of quality, value, selection, and service. Today, Nordstrom is one of the nation’s leading fashion retailers, offering a wide variety of high-quality apparel, shoes, and accessories for men, women, and children at stores across the country. We remain committed to the simple idea our company was founded on, earning our customers’ trust one at a time. Nordstrom fills customer needs for high quality fashion merchandise and outstanding levels of customer service. Price is no object for the typical Nordstrom shopper. 2. Explain the major difference between demand uncertainty and implied demand uncertainty using the example of the Iphone 6 plus. 3. What would be the impact of increasing product variety on implied demand uncertainty in the case of a convenience store like 7-11? When customers go to a convenience store chain such as 7-Eleven, they go there for the convenience of a nearby store and are not necessarily looking for the lowest price. Implied demand uncertainty would be high as customers are looking for a variety of products and convenience versus cost and demand levels are hard to predict. → 4. Is it correct to say that the implied demand uncertainty will correlate with the characteristics of demand, particularly for high-markdown products? Why? [Show More]

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