I am taking only two classes this quarter! I am taking Accounting 203- Managerial accounting and Business 150- Marketing
Our first week out I got high praise from my instructor! She even posted MY case study for an example for the class (see below)
How awesome!
Sample Answer by Student
Bus 150
Case 1 – Malls
Imagining that I am the manager of a struggling suburban regional shopping mall, I am faced with the question of what I think we should do to improve our performance. The first thing I think that is needed for the mall is to have an updated look, the facility needs to be renovated and revived. I am thinking back to the way the Everett Mall was looking prior to its recent remodel. Keeping the mall updated will attract new vendors and influx of people to see the mall.
Next, is going to be addressing the parking lot issues, there needs to be plenty of parking within reasonable walking distance to the mall, meaning we need to go up. Adding parking garages and sky bridges or covered walkways adds to the enjoyment of the mall. If it is easy to access and easy to be sheltered from the weather, there can be protection from blazing sun or pounding rain. Parking is a big part of the visit to the mall.
Next, we must address the current trend in shopping. Shoppers are very task orientated. We need to assist their needs. I believe we need to develop a web based price comparison that will show shoppers where the sales are, where to find what they need and even show them the best place to park. I think that is will need to be something like Google maps, but Google malls instead. Log in to your local mall, tell the site what you are looking for, it spits out a store by store destination for you to get in and out, if that is what you as the shopper would like to do the most. This web site can also inform shoppers of special events, play areas for children and anything new the mall might have added or be adding to draw the shopper back in the future.
As the shopper becomes more technological literate, the shopping of the future will need to be high tech compared to where it started from. I see that the teenagers are still going to want to wander the mall and search for their favorite stores, and then share those stores with their friends and families, but getting everyone out to the mall for the day of shopping is going to be something that is decreasing.
New retail concepts need to be identified. Over all people are looking for convenience and environmental friendliness. I think a good strategy is to combine the two, perhaps a mall that is focused on embracing being green while providing excellent customer service with a high level of information that is able to be accessed by the shopper at any given time. Many consumers understand that going green isn’t always an economically wise thing to do, but doing the right thing can be something that can draw a different set of shoppers out of the house and into the store. By advertizing green, building green, providing recycling, and green stores to shop at, the green aware shopper would be more willing to enter a large mall and spend their money in your facility.
I feel that malls can and will survive the changes in buying trends and shopping concepts in the busy lives of the shopper as long as they stay aware and willing to change as needed. Having managers that are willing to think outside the box and willing to do a good job at their jobs.
