零售学课后习题答案整理之欧阳育创编
经济学零售学课后练习题

《零售学》课后练习题一、单项选择题1、世界上第一家( C )是在1852年产生于法国。
A、折扣商店B、仓库商店C、百货商店D、专业商店2、零售业的竞争主要表现为( A )的垄断竞争。
A、异质性B、同质性C、兼容性D、动态性3、( B )的出现,被称为零售业的第二次革命。
A、邮购商店B、超级市场C、网上购物D、百货商店4、现阶段零售市场中更高层次的竞争是( C )。
A、促销竞争B、服务竞争C、战略竞争D、商品竞争5、针对消费者认为价高质必优的心理,对在消费者心目中具有信誉的商品订价较高,这种订价方法是( A )。
A、声望订价B、习惯订价C、系列订价D、招徕品订价6、某商品原价300元,现标价为180元,该价格折扣为( D )。
A、功能折扣B、数量折扣C、现金折扣D、心理折扣7、在零售促销的手段中,( D )是一种辅助性的促销手段。
A、零售广告B、营业人员C、公共关系D、营业推广8、按零售商经营重要程度划分商品,可分为( C )。
A、日用品类、选购品类和特殊品类B、正常销售商品和有问题商品C、主营商品类、一般商品类和辅助商品类D、高档、中档和低档商品类9、零售商竞争的实质是( A )。
A、争夺顾客B、扩大市场占有率C、行业竞争D、开发有利的市场位置10、( A )是市场营销组合中最灵活的因素之一。
A、价格B、产品C、渠道D、促销11、( C )的出现,被称为零售业的第四次革命。
A、邮购商店B、超级市场C、信息孵化技术D、百货商店12、位于( D )的便利店几乎没有边缘商圈。
A、商业中心B、城乡接合部C、次级商业区D、居民区13、ABC分类控制法中,品种累计数占70%,销售额累计数占15%的商品属于( C )A、A类商品B、B 类商品C、C 类商品D、主力商品14、有贬低商品形象之嫌的促销手段是( B )A、广告B、营业推广C、公共关系D、人员推销15、撇脂定价法就是在新产品上市之初,将价格定得较高,在短期内获取厚利,尽快收回投资.就象从牛奶中撇取所含的奶油一样. 撇脂定价法适合需求弹性较小的细分市场,其缺点是( D )A、适合顾客求新心理上B、产品主动性大C、可以控制产品需求量D、不利于扩大市场16、以下哪些不是超级市场的主要经营特征( C ).A、经营商品品种繁多B、经营规模大C、经营成本高,毛利高D、顾客自助式服务17、在消费者家里(或其他非商店地点,如办公室)与消费者接触,或是由零售商主动通过电话征求订货的方式是( A ).A、直接销售B、自动售货机C、直复营销D、代理销售18、假设某一商品的建议零售价为100元.它有一个初始加价,如果商品成本和它的初始零售价格之间相差56%,那么商品成本是( C )A、40元B、42元C、44元D、46元19、采取以自选方式,以销售食品,生鲜食品,副食品和生活用品为主,满足顾客每日生活需求的零售业态是( A ).A、超级市场B、百货店C、便利店D、购物中心20、假设某一商品的建议零售价为100元.它有一个初始加价,如果商品成本和它的初始零售价格之间相差56%,那么加价是( C )A、54元B、55元C、56元D、57元21、采取自选销售方式,以销售大众化实用品为主,选址在城乡结合部,商店营业面积2500平方米以上,商品构成为衣,食,用品等,并满足顾客一次性购足需求的零售业态是( C )A、百货公司B、超级商场C、大型综合超市D、便利店22、根据顾客对商品的选择称度,可以分为便利品,选购品,特殊品和未寻求品.以下属于特殊品的商品是( D ).A、肥皂B、风味食品C、雨具D、集邮品,花,鸟23、业态是零售商业的( C ).A、企业形态B、组织形态C、经营形态D、管理形态24、对零售业进行的分类,业态分类是根据( A ).A、销售方式B、经营环境C、企业性质D、行业特征25、对零售业进行的分类,业种分类是根据( D ).A、店铺选址B、行业C、企业性质D、经营商品的大类26、零售商业的服务对象是( B ).A、再销售者B、个人消费者C、产业用户D、事业用户27、百货店发展到现阶段,其主要形式有( D ).A、独立的百货店B、大型百货店C、百货商业集团D、独立或单体的百货店和连锁百货店28、超级市场的目标市场是( B ).A、高中档顾客B、普通大众C、流动顾客D、各个消费层次的顾客29、特许连锁是一种以( D )为基础的零售企业经营方式.A、资本B、股份C、信誉D、契约30、仓储商店一般采取( B )形式.A、股份制B、会员制C、连锁制D、合伙制31、无论是近期还是中远期,将成为我国零售商业的主流业态的是( B ).A、百货店B、超级市场C、便利店D、购物中心32、超级市场商品陈列中最常用和使用范围最广,并且比较适合周转快的商品的陈列形式是( C ).A、分类陈列B、整齐陈列C、集中陈列D、主题陈列33、商圈分析是指经营者对商圈的构成情况,特点( B )以及影响商圈规模变化的因素进行实地调查和分析。
零售学课程习题集

《零售学》课程习题集第一章零售导论一、判断并说明理由1.零售是向最终消费者提供生活消费品和服务,以供其最终消费之用的全部活动。
2.网络购物的兴起将令传统的有店铺的商业消亡。
3.零售业是一个低技术门槛的行业,零售经营不需要高端技术和先进理念的支持。
4.零售业是一个国家最古老的行业之一,所以它是一个国家最重要的行业。
5.零售是商品分销的最终环节,商品经过零售环节,卖给最终消费者,就从流通领域进入消费领域。
6.商品攀升理论是指这样一种现象:零售商总是喜欢增加经营与原先主业无关的商品。
7.百货商店的诞生之所以被称为第一次零售变革,是因为它将所有的消费品集中在一个屋檐下进行销售。
8.超级市场的诞生大大节省了人们的购物时间。
9.连锁商店的兴起带来了零售商内部各个岗位的职能专业化和工作简单化。
10.中国零售业近十多年来的发展已经完成了国外第二、第三次零售变革,正在步入第四次零售变革。
二、问答题1.零售活动具有什么特点?这些特点使零售商在经营过程中需要注意什么问题?2.零售业为什么是一个国家最重要的行业之一?其重要性体现在那些方面?3.零售组织按所有权形式划分有哪些类型?4.直营连锁商店与特许经营商店有什么区别和相同之处?5.零售组织发展演变理论有哪些?根据你对周围零售组织的认识,这些理论有何局限性?6.你认为网络商店的出现最终将取代传统的有店铺的零售组织吗?7.为什么说中国零售业目前正处于一个急剧变革时期?引发这场变革的动因是什么三、论述题1.试述零售业四次重大变革的标志、特点及意义。
你认为我国零售业目前正处于哪一变革阶段?2.试根据零售组织发展演变理论解释我国零售业发展的特点。
3.试分析网络时代传统零售组织的生存发展空间。
4.试分析在急剧变革的背景下我国零售企业面临的挑战。
四、案例分析1.7-11在北京力拓市场在刚闭幕不久的亚太零售商大会上,世界最大的便利店企业7-11公司CEO铃木敏文对在中国未来的发展充满了信心,他表示,“7-11在中国将以加盟店的形式拓展自己的视野,将在2008年奥运会前在北京开设350家连锁店。
零售学第一二章课后习题答案

零售学第一二章课后习题答案第一章一、思考题1.试比较单渠道零售和多渠道零售。
你认为二者各有什么优势?答:单渠道是指零售企业只采取单一的销售渠道来销售自己的产品;多渠道零售是指零售业设立两个或两个以上的渠道来销售自己的产品,如实体店,网站,电视购物等。
单渠道零售的优势:1)管理优势,单渠道更加便于商家对于渠道的管理和控制,节省人员管理成本;2)产品和服务优势,单渠道提供的产品或服务往往更为专业化。
多渠道零售的优势:1)顾客规模优势,多渠道零售可以突破实体店的客观限制,给消费者提供个性化产品和服务方式,从而吸引更多顾客;2)成本优势,在多渠道零售中,由于整合了不同营销渠道,从而在采购、顾客服务等方面形成了一定的规模优势,有利于降低购货成本和服务成本,为顾客提供更为便捷且更为实惠的产品或服务;3)产品或服务差异化优势,可以为顾客提供整合提供个性化的产品或服务。
2.比较有店铺购物和无店铺购物。
答:1)相同点:都属于零售业态的范畴,都是零售企业为了实现销售目的所采取的组织形式和经营方式。
2)不同点:首先,有店铺零售是指有固定的进行商品陈列和销售所需要的场所和空间,并且消费者的购买行为主要在这一场所内完成的零售业态。
包括食杂店、便利店、折扣店、超市、大型超市、仓储会员店、百货店、专业店、专卖店、家居建材商店、购物中心、厂家直销中心,而无店铺零售是指不通过店铺销售,由厂家或商家直接将商品递送给消费者的零售业态。
包括电视购物、邮购、网上商店、自动售货亭、电话购物;其次,有店铺购物的成本比无店铺购物高,且无店铺购物的灵活性更高;第三,有店铺购物的产品具有丰富多样性以及可陈列性,无店铺购物的产品则更具有针对性,但无法陈列;第四,有店铺购物对店铺情况以及产品性能的了解更为清晰明确,无店铺购物则无法全面了解其店铺实质情况和产品实质性能;第五,有店铺销售的交易方式更为安全可靠,交易成功率高,而无店铺销售安全性和成功率都较低;第六,有店铺购物的售后服务更有保障,而无店铺服务售后保障不稳定。
第八章 财产清查(练习题,附答案)之欧阳引擎创编

第八章财产清查欧阳引擎(2021.01.01)一、单项选择题1、无法查明原因的现金盘盈应该记入()科目。
A、管理费用B、营业外收入C、销售费用D、其他业务收入2、某企业仓库本期期末盘亏原材料,原因已经查明,属于自然损耗,经批准后,会计人员应编制的会计分录为()。
A、借:待处理财产损溢贷:原材料B、借:待处理财产损溢贷:管理费用C、借:管理费用贷:待处理财产损溢D、借:营业外支出贷:待处理财产损溢3、企业的存货由于计量、收发错误导致的盘亏,由企业承担的部分应作为()处理。
A、营业外支出B、其他业务支出C、坏账损失D、管理费用4、盘亏的固定资产应该通过()科目核算。
A、固定资产清理B、待处理财产损溢C、以前年度损益调整D、材料成本差异5、下列记录可以作为调整账面数字的原始凭证的是()。
A、盘存单B、实存账存对比表C、银行存款余额调节表D、往来款项对账单6、企业进行盘点,发现账实不符。
下列会计处理中,正确的是()。
A、直接作损益处理B、先调整账面结存数C、不作任何调整,继续查明原因D、按账面数进行调整7、固定资产盘盈可通过()科目核算。
A、“投资收益”B、“以前年度损益调整”C、“营业外收入”D、“固定资产清理”8、对于财产清查结果处理的要求不包括()。
A、分析产生差异的原因和性质,提出处理建议B、向税务部门报告清查结果C、总结经验教训,建立健全各项规章制度D、及时调整账簿记录,保证账实相符9、对往来款项进行清查,应该采用的方法是()。
A、技术推算法B、与银行核对账目法C、实地盘存法D、发函询证法10、下列资产中,()不应采用实地盘点法或技术推算法进行清查。
A、库存现金B、原材料C、银行存款D、固定资产11、技术推算法一般适用于()的清查。
A、货币资金B、往来款项C、机器设备D、露天堆放的沙石12、下列关于库存现金在盘点后应编制的原始凭证的各项中,正确的是()。
A、实存账存对比表B、库存现金盘点报告表C、银行存款余额调节表D、银行对账单13、企业开出支票一张,银行尚未入账,属于()情况的未达账项。
英语国家社会与文化入门 课后题答案之欧阳学创编

Book1 Unit 1时间:2021.03.03 创作:欧阳学1.What was the British Empire? What do you know about it? In what way is the “Empire” still felt in Britain and in the international field?The British Empire comprised the dominions, colonies, protectorates, mandates, and other territories ruled or administered by the United Kingdom, that had originated with the overseas colonies and trading posts established by England in the late 16th and early 17th centuries.In the international field, Britain has great voice in politics, economy and culture and so on.2.Why impossible to sum up British people with a few simple phrases: The UK is made up of different elements. It includes 4 parts within the one nation-state. It is now a multiracial society with different religion believes. It is divided economically and it is a society with a class-structure. And within each of the four countries there are different regions. Since this country was so complicated both in history or humanity, it is impossible to sum up their people.3.A history of invasions: (1) Before the 1st century AD Britain was made up of tribal kindoms of Celtic people. They brought the central Europen culture to Britain. Then in 43AD, Roman Empire invaded Britain and controlled it for slave society but also disseminated their Catholicism. (2)However, in the 5th century, the Roman Empire rapidly waned in power and Britain was conquered by the Angles and the Saxons. In order to defend the Saxons, a great leader—King Arthur appeared. He created the "round table" to satisfy all the knights' requirement of having equal precedence. Thus it gradually formed the monarchy in Britain as a more democratic system. Whether Arthur's a real person in the history or not, Anglo-Saxons did succeed in invading Britain and they were the forefathers of the English. (3)In the 8th century, the Vikings from Denmark controlled the nothern and eastern England. A Anglo-Saxon herio, king Alfred the Great fought against the vikings with the truly English. And that's why there's a certain cultural difference between northerners and southerners in England (4)Later, the Nomans from northern France, under the leading of William of Normandy, killed the king and William became the Frist of England. They imported a rulling class thatFrench-speaking Norman aristocracy rulled Saxon and English-speaking population. In this condition, there weren't a lot of rebellions among the English people. That directly formed an English unique character: a richly unconventional interior life hidden by an external conformity. Even today, we can still find this personality from the British people through their lifestyles.How did they influence culture:[接着上边一起看] (2) a lot of stories of King Arthur, which brought a lot of singers, poets, novelists and filmmakers. Places associated with his legend. Round table was ween as an indicator of the way in which the English have wished to see their monarch as something other than a remote dictator. (3)anglo-saxon invaders were the forefathers of the English. By Vikings' settlements the Enlish heroes were truly English. There remains to this day a certain cultural divide between northerners and southerners in england.(4)Norman aristocracy ruling a largely Saxon and English-speaking population. the legend of Robin Hood.4.General characteristic of Scotland: Scotland is the second largest of the four nations, both in population and in geographical area. It is also the most confident of its ownidentity because alone amongst the non-English components of the UK it has previously spent a substantial period of history as a unified state independent of the UK. (1) rugged. (2) not conquered by the Romans (3) maintain its separate political identity for more than a hundred years.(4) eager for independence.How Scotland became part of the union of Great Britain: in 1707 by agreement of the English and Scottish parliaments, Scotland joined the Union. In 1745 there was a brutal military response from the British army. The rebel army was destroyed at the battle of Culloden in northern Scotland.5.Describe Wales and the unification with Britain: (1) wales was an important element in Britain's industrial revolution, as it had rich coal deposits. It is successful in attracting investment from abroad. Wales has been dominated by England for longer than the other nations of the union. Despite this nearness and long-standing political integration Wales retains a powerful sense of its difference from England. (2)Wales has been dominated by England for longer than the other nations of the union. Despite this nearness and long-standing political integration Wales retains a powerful sense of its difference fromEngland. In 1536, wales was brought legally, administratively, and politically into the UK by an act of the British parliament. This close long-standing relationship means that modern wales lacks some of the outward signs of difference which Scotland possesses --- its legal system and its education system are exactly the same as in England.6.Differences between England, Scotland and Wales in terms of cultural tradition: [书上说的比较散,建议参考festival那章的答案,这里只有一些零散的不系统的比较] (1) English character: a richly unconventional interior life hidden by an external conformity. But young people are not all stereotypes. But it is certainly true that the lifeless fronts of many english houses conceal beautiful back gardens. (2)The dream of an independent Scotland has not vanished. They are always eager for freedom. Scotland has a great tradition of innovation in the arts, philosophy and science. "Superficially fully integrated into the UK, but concealed beneath this is a still-strong Scottish identity." Some people speak Gaelic.(3)Wales is different, and one of the key markers of that diffenece is the Welsh language -- the old British Celtic tongue which is still in daily use. Modern wales lacks some of the outward signs of difference whichScotland possesses. (its legal system and education system are exactly the same as in England)Unit 21.Why is Northern Ireland so significant in the UK: Though Northern Ireland is small it is significant because of the political troubles there.Its political problem: The problem is in Northern Ireland in 1921 in southern Ireland independence from Britain, Ireland North and South following the separation of issues left over by history, mixed it with historical, political, ethnic and religious conflicts, extremely complex. Ireland’s independence, to remain under British rule within the framework of the 6 in the northern island of Ireland residents of the pro-British Protestant majority (about 51%), the Catholic nationalist minority (about 38%), as a result of the two major forces in Northern Ireland On the contrary position of ownership and lead to confrontation, conflict. [因为发现实在太难sum up了,所以就搜了一下,以下是wikipedia版本]Northern Ireland was for many years the site of a violent and bitter ethno-political conflict —the Troubles —which was caused by divisions between nationalists, who are predominantly Roman Catholic, andunionists, who are predominantly Protestant. Unionists want Northern Ireland to remain as a part of the United Kingdom,[6] while nationalists wish for it to be politically reunited with the rest of Ireland, independent of British rule. [网络其它版本]Until 1921 the full name of the UK was "The United Kingdom of Great Britain and Ireland", not only "Northern Ireland", because the whole island of Ireland was politically integrated with Great Britain, and had been since 1801, while Britain's domination of the Irish dated back centuries even before that date. But Irish desires for an independent Irish state were never lost, and one of the key issues in late nineteenth century British politics was a campaign in parliament for what was called "home-rule"—Irish political control of Irish affairs. The Home Rule Bill was finally passed in 1914, but the process was overtaken by the First World War and was suspended for the duration of the war.2.Factors in Irish and English history that affect the situation in Northern Ireland today: Along with the political campaign for home-rule there were groups who followed a more direct method of pursuing Irish independence, engaging in guerilla or terrorist activities against British institutions and the Britishmilitary forces. During the First World War and immediately after, this activity increased, sometimes brutally suppressed by British forces.3.Sum up solutions to NI's political problems of different parties and groups in the UK: Margaret Thatcher's government did not give in to this demand for political status and 11 prisoners starved to death. This event revitalised the political campaign of Sinn Fein, the legal political party which supports the IRA's right to fight. Its leaders spoke of a twin campaign for union with Ireland, both political and military, which they called the policy of "The Bullet and the Ballot Box".4.What do you think should be the right solution to the political problem in Northern Ireland: I think they can ask the UN for help. / Keep the present status. Turn to other countries for help. [自由发挥啦]Unit 31.Characteristics of the British constitutional monarchy: The monarch of the country has limited rights because of Bill of Right. For example, while the official head of state is the queen,her powers are largely traditional and symbolic. The government at national and local levels is elected by the people and governs according to British constitutional principles. How the English monarchy evolved to present constitutional monarchy: Originally the power of the monarch was largely derived from the ancient doctrine of the "divine right of kings". For a thousand years Britain has had a hereditary king or queen as the head of the state. While the King in theory had God on his side, in practice even in medieval times it was thought that he should not exercise absolute power. King John was unwilling to receive advice from prominent men, which led battles between the king and other powerful groups. Finally the king granted them a charter, named Magna Carta, of liverty and political rights. The civil war2.The civil war was rooted in a dispute over the power of the king vis-a-vis Parliament. James I and his successor Charles I both insisted on their divine right as kings. They felt Parliament had no real political right to exist, but only existed because the king allowed it to do so. It was the effort to reassert the rights of parliament that led to the civil war.English Revolution: "English Revolution" has been used to describe two different events in English history. The first was the Glorious Revolution of 1688, whereby James II was replaced by William III and Mary II as monarch and a constitutional monarchy established, was described by Whig historians as the English Revolution.[1]In the twentieth-century, however, Marxist historians used the term "English Revolution" to describe the period of the English Civil Wars and Commonwealth period (1640-1660), in which Parliament challenged King Charles I's authority, engaged in civil conflict against his forces, and executed him in 1649. This was followed by a ten-year period of bourgeoisrepublican government, the "Commonwealth", before monarchy was restored in the shape of Charles' son, Charles II, in 1660.3.History of English parliament: Traditionally, when medieval kings wanted to raise money he would try to persuade the Great Council, a gathering of leading, wealthy barons which the kings summoned several times a year. Later kings found this group was so small that they could not make ends meet. So they widened the Great Council to include representatives ofcounties, cities and towns and get them to contribute. It was in this way that the Great Council came to include the House of Lords(who were summoned) and the House of Commons(representatives of communities).What role did the parliament play in the Civil War: Since James I and Charles I both thought that Parliament didn't need to exist, the Parliament was enraged. Leading politicians and church authorities asked William of Orange to replace them two. In 1689 Parliament passed the bill of Rights which ensured that the King would never be able to ignore Parliament.4.Characteristics of British constitution: Unlike many nations, Britain has no core constitutional documents.Contents: Statute laws(laws passed by Parliament); the common laws(laws which have been established through common practice in the courts); and conventions(rules and practices which do not exist legally but are nevertheless regarded as vital to the workings of government).5.Why parliament is supreme: because it alone has the power to change the terms of the Constitution. There are no legal restraints upon Parliament.Parliament's function: First, it passes laws. Second, it provides the means of carrying on the work of government by voting for taxation. Third, it scrutinises government policy, administration and expenditure. Fourth, it debates the major issues of the day. Queen/King's role: To symbolise the tradition and unity of the British state. To represent Britain at home and broad. To set standards of good citizenship and family life. She is legally head of the executive, an integral part of the legislature, head of the judiciary, commander in chief of the armed forces and "supreme governor" of the Church of England.PM's role: The Prime Minister is the leader of the political party which wins the most seats in a general election. He/She chose usually around 20 MPs to become government ministers in the Cabinet. Together they carry our the functions of policy-making, the coordination of government departments and the supreme control of government.6.The House of Lords: It was below the Queen, consisting of the Lords Spiritual(who are the Archbishops and most prominent bishops of the Church of England) and the Lords Temporal(which refers to those lords who either have inherited the seat from their forefathers of they have been appointed). Thelords mainly represent themselves instead of the interests of the public. It is the upper house of the Parliament of the United Kingdom, the United Kingdom's national legislature. It remains the relationship with government, debates legislation and has some power to amend or reject bills (has some legislative functions).Unit 41.Anyone who is eligible to vote can stand as an MP. It is necessary only to make a deposit of 500 pounds.Why small parties and independent candidates powerless: V oters will see it as a wasted vote because even if they were to win the seat they would be powerless in parliament against the big parties' representatives. V oting them will prevent the voters from contributing to the competition between the big parties as to which of them will form a government.2.Three big parties in the UK: the Labour party, the Conservative party, the Liberal Democrats.Similarities: Since Conservative began to have a "fartherly" sense of obligation to the less fortunate in society, they didn't dismantle principles the Labour set up. That indicates that thusthe difference between the Labour and Conservative is one of degree, not an absolute.Dissimilarities: (1) Labour is a socialist party. They believe a society should be relatively equal in economic terms and that part of the role of government is to act as a "redistributive" agent. They think government should provide a range of public services, therefore high taxes. (2) Conservative is the party that spent most time in power. They are seen as the party of the individual, protecting individual's right to acquire wealth and to spend it how they choose, therefore low taxes. (3) Liberal Democrats is a party of the "middle", occupying the ideological ground between the two main parties. They are comparatively flexible and pragmatic in their balance of the individual and the social.3.Recent political trends [注意下一小问]: (1) Conservatives won the election under their leader Margaret Thatcher in the 1970s. During that time the economy did badly, with high inflation and low growth. (2) she dismissed being "fartherly", encourages entrepreneurship. One of the major policies was the privatisazion of nationalised industry. (3)part of the mechanism of change was a less redistributive taxation system. Tax ratewere cut to allow people to keep more of what they earned. Author's opinion: The 1980s have seen British politics move to the "right", away from the "pulic" and toward the "private"; away from the "social", and toward the "individual", and all parties have had to adjust to those changes.4.How people are divided into different classes: (1) employment: manual(or blue-collar) workers usually call themselves working-class, and office(or white-collar) workers would usually call themselves middle-class. (2) cultural differences: like what newspaper they read. Working-class often read THE SUN, a newspaper with little hard news and more about soap operas, royal family and sports. Middle-class often read THE GUARDIAN, a larger newspaper with longer stories, covering national and international events. (3) education: private school or public school. (4) the UK has also retained a hereditary aristocracy. (5) the way they speak.Compare with the US and China: not similar at all. The UK has also retained a hereditary aristocracy. Among the students at the private schools attended by the upper-middle-class above would be a thin scattering of aristocratic children, who will inherit titles like baronets. This is due to Britain's differenthistory and convention.Unit 51.Absolute decline means recession, developing in a minus speed. Relative decline means that although the UK improved, other countries developed more rapidly than the UK, which made it slid from being the second largest economy to being the sixth. Reasons: (1) The UK had gone into debt after WWII. (2) Britain spent a higher proportion of its national wealth on the military than most of its competitors. (Joining NATO and UN Security Council) (3)The era of empire was over. Former colonial countries announced independence, leaving Britain as a medium-size Euporean country. (4)Britain's industry survived comparatively unaffected, but its competitors did not. So the competitors invested in modern equipment and new products while British industry still continue with older ones. (5) Low rates of investment. The UK lacks a close relationship between industry and banks due to its history. A low rate of domestic industrial investment coupled with a very high rate of overseas investment.2.What did the conservative party under Mrs. Thatcher promise todo to the UK national economy in 1979: A radical programme of reform.What was her radical reform programme: Bureaucracy was reduced, (foreign exchange controls were lifted, rules governing banks loosened, for example). Throughout the 1980s an extensive programme of privatisation was carried out.Was is successful: It seemed in some ways to be successful in that inflation came under control, and business made profits. The negative aspect was a rapid increase in unemployment. The national economy as a whole continued to grow at lower rates than its competitors.3.Main areas in national economies: Primary industries such as agriculture, fishing and mining; secondary industries which manufacture complex goods from those primary products; tertiary/service industries such as banking, insurance, tourism and the retailing.Development of each: (1) agricultural sector is small but efficient. Energy production is an important part of the UK economy. (2)in the secondary sector, manufacturing industry remains important, producing 22% of national wealth.(3)tertiary or service industries produce 65% of national wealth.4.Why relatively shrinking of the important secondary industry and a spectacular growth in tertiary or service industries: A lot of the tertiary or service industries is domestic activity, accounting for about 10% of the world's exports of such services. 70% of the UK's workforce are employed in the service sector.Compare tertiary industries in China in the past 20 years or so: Chinese tertiary industries didn't grow as fast as the UK, though the portion was increasing.How is this growth related to the reform and opening up to the outside world: China was famous for the name of "world factory", which means Chinese workforces can produce products at low paid. China is a developing country, experiencing the transfer of manufacturing is reasonable. However, as China is developing, wages of workforces are also increasing. Comparing to India, we may lose our "advantage" gradually.Unit 61.Why Geoffrey Chaucer's work written in Middle English can still read and studied today: It is notable for its diversity, both inthe range of social types amongst the 31pilgrims, and the range in style of the stories they tell.2.Do you think Elizabethan Drama occupies a significant position in British literature: Yes. Elizabethan drama, and Shakespeare in particular, is considered to be among the earliest work to display a "modern" perception of the world: full of moral doubts and political insecurities, where the right of those who wield power to do so is put in question.The most important figure in Elizabethan Drama: William ShakespeareSome of his well-known plays: (tragedies)Romeo and Juliet, Hamlet, Othello, King Lear, Macbeth; (comedies)The Taming of the Shrew, A Midsummer Night's Dream, Twelfth Night, the Tempest; (history plays)Richard III, Richard II, Henry IV, Henry V jJulius Caesar, Antony and Cleopatra.3.Some of the features of Romantic Literature: writers of romantic literature are more concerned with imagination and feeling than with the power of reason.4.Modernism: it refers to a form of literature mainly writtenbefore WWII. It is characterized by a high degree of experimentation. It can be seen as a reaction against the 19th century forms of Realism. Modernist writers express the difficulty they see in understanding and communicating how the world works. Often they seem disorganized, hard to understand. It often portrays the action from the viewpoint of a single confused individual, rather than from the viewpoint of an all-knowing impersonal narrator outside the action.Postmodernism: After WWII. Postmodernist can be thought of as abandoning the search of buried meaning below confusing surfaces.Examples to illustrate: (modernist) Virginia Woolf "Mrs.Dalloway""to the Lighthouse""Orlando"; wrence "Sons and Lovers" and E.M.Forster "a Passage to India";(postmodernist)George Orwell "1984", John Fowles "the French Lieutenant's woman"Book I Unit 7, British Education System1.What are the purposes of the British education system? Pleasecomment on these purposes. What are the main purposes of the Chinese education system? Are there any differences or similarities in the education of the two nations?Schools in Britain do not just teach the students 3 Rs, (reading,writing and arithmetic), but to provide children with literacy and the other basic skills they will need to become active members of society.2.How does the British education system reflect social class?Firstly, in Britain, the school you attend can refer to your social status.And the school tie is a clear market of social class,3.What are the major changes that have taken place since WorldWar II? Is British education moving towards more progress or more equality? Pick up some examples from the text to illustrate your points.1)The old education system has disrupted due to the war. So withthe help of the church and newly powerful trade unions began to reconstruct a new education system.2)The new system emphasizes equality. 1944 education act madeentry to secondary schools and universities meritocratic.Children would be able admitted to schools not because they were of a certain social class or because their parents possesseda certain amount of money, but because of the abilities theydisplayed. All children were given right to a free secondary education and the main concern was to make sure more children had access to a good education.3)1989, a national curriculum was introduced by the government.4.Why does the author say that universities in Britain have ratherelitist?Most students in British universities are from the middle classes, attend good schools, perform well in their A-levels and receivea fully-funded place in a university. And when they graduate,they can become very influential in banking, the media, the arts, education or even the government.5.What is the Open University in Britain? What do you think ofthis system?The opening university offers a non-traditional route for people to take university level courses and receive a university degree.People can register without having any formal educational qualifications. They follow university courses through textbooks, TV and radio broadcasts, correspondence, videos, residential schools and a network of study centre.I think the system has been quite successful. Thanks to thesystem, tens of thousands of Britons, from various statuses attend the Open University each year. And this has improve the equality in Britain’s high education.Unit 8 British Foreign Relations1.What and how did the British Empire end? How did the Britainreact to this reality? How did the end of British imperialism influence the psychology of the British and the making of Britain’s foreign policy?1)After the World War II the British could no longer afford tomaintain its empire; while Britain had won the war, it had paid a terrible price in terms of lives and in terms of economic destruction. And the British realized that countries should be granted the independence and left to run their own affairs.People and territory should not just be treated as a source of economic resources for the ruling centers of commerce in Europe.2)Many people are still alive who can remember when Britainwas one of the most powerful and rich nations on earth. It is sometimes hard to think about Britain as it really is today.3)Because Britain lost its empire so recently, british policy makersfrequently forget that Britain is not as influential as it used to be in world affairs. Historians argue that the British foreign policy makers retain very conservative and traditional views of Britain’s role as a world power and point to many major foreign policy decisions as examples.2.What are the foundations of Britain’s foreign policy?It is greatly influenced by its imperial history and also by itsgeopolitical traits.Britain’s imperial history m ade the policy maker very conservative and traditional.And its geopolitical traits created a sense of psychological isolation in its inhabitants. And as Britain is an island state, it naturally developed as a nation of seafarers who roamed the globe looking for territory and economic opportunities.3.How is Britain’s foreign policy made? Does the government’sforeign policy represent the desires of British citizen?1)The prime minister and cabinet decide on the general directionof Britain’s foreign policy. Th e main government department involved is of course the foreign and commonwealth office but many other government ministries also play a part in formulating and executing the government’s decisions.2)Since Britain is a parliamentary democracy, the government’sforeign policy in theory represented the desires of its electorate , but in fact british citizens are more concerned about issues closer to home. On the whole, they are not very inclined to try to influence the direction of Britain’s foreign policy. The re are a number of different interest groups however, and it is interesting that rare occurrences of civil disobedience in the UK often involve foreign policy issues.。
中级财务会计课后习题答案之欧阳与创编

中级财务会计习题参考答案第一章思考题 (1)、财务会计信息的不同使用着,他们对财务会计信息的共性要求是什么?不同要求是什么?共性要求是:八大特征。
会计信息质量要求是对企业财务报告中所提供会计信息质量的基本要求,是使财务报告中所提供的会计信息对投资者等信息使用者决策有用应具备的基本特征,它主要包括可靠性、相关性、可理解性、可比性、实质重于形式、重要性、谨慎性和及时性等。
不同要求是:各有侧重。
要理解,会选择。
6--9(2)财务会计信息有哪些特征?是什么原因导致财务会计信息有这些特征?见教材5--6(3)财务会计信息生成过程与企业的经营业务有什么关系,与企业的管理要求、国家经济政策有什么关系?与经济业务的关系:会计信息是对经济业务的反映,但不是对所有经济业务的反映。
与企业管理要求的关系:要尽量满足企业管理的要求,但同时也要满足外部使用者的要求。
与国家政策的关系:要符合国家经济政策,不能违反。
同时国家经济政策的变动会对企业经济活动产生影响,从而影响会计信息。
(4)财务会计信息的特征与会计信息质量特征之间有什么联系?财务会计信息的特征是指四大特征。
会计信息质量特征是指八大特征。
两者之间的关系是既有联系又有区别。
前者是总体的,是前提。
后者是具体的要求特征。
;自测单选题1b 、2c、 3a、4d、5c、6a、7d、8c、9c、10c第二章自测单选题 1b、2b、 3d、4c(总结一下支票10天,银行汇票1个月,银行本票2个月,商业汇票6个月、接到付款通知的次日起3日内通知银行付款,委托收款2天,托收验单承付3天,托收验货承付10天,要学会总结)、5b 、6a、(银行同城结算方式:是指在同一城市范围内各单位或个人之间的经济往来,通过银行办理款项划转的结算方式,具体有支票(包括现金支票、转账支票、定额支票)结算方式和银行本票(定额银行本票和不定额银行本票)结算方式异地结算方式:是指不同城镇、不同地区的单位或个人之间的经济往来通过银行办理款项划转的结算方式,具体包括银行汇票结算方式、汇兑结算方式和异地托收承付结算方式。
《零售学》(第四版)思考题及案例分析参考答案
《零售学》(第四版)思考题及案例分析参考答案第一章一、思考题答案要点1、什么是零售?零售在商品分销过程中处于哪一环节?答案要点:零售是指向最终消费者个人或社会集团出售生活消费品或非生产性消费品及相关服务,以供其最终消费之用的全部活动。
这一定义包括以下几点:(1)零售是将商品及相关服务提供给消费者作为最终消费之用的活动。
(2)零售活动不仅向最终消费者出售商品,同时也提供相关服务。
(3)零售活动不一定非在零售店铺中进行,也可以利用一些使顾客便利的设施及方式。
(4)零售的顾客不限于个别的消费者,非生产性购买的社会集团也可能是零售顾客。
零售是商品分销的最终环节,商品经过零售环节,卖给最终消费者,就从流通领域进入消费领域。
2、商品从生产领域转移到消费领域可以经过哪些路径?零售商在这一转移过程中担任什么角色?答案要点:商品从生产领域转移到消费领域可以经过如下路径:生产者——消费者,生产者——零售商——消费者,生产者——批发商(中转商)——零售商——消费者。
零售商类似于消费者的采购代理人,在上述转移过程中起着连接生产、批发和消费的角色。
3、零售业为什么是一个国家最重要的行业之一?其重要性体现在哪些方面?答案要点:零售业是一个国家最重要的行业,其重要性体现在:零售业所创造的产值在国内生产总值中占有举足轻重的地位,零售业税收是国家税收的主要来源之一,零售业的发展与人们生活水平的提高息息相关,零售业是一个国家和地区的主要就业渠道,零售业是反映一个国家和地区经济运行状况的晴雨表。
4、零售组织按所有权性质划分有哪些类型?答案要点:零售组织按所有权性质划分主要有独立商店、直营连锁商店、特许连锁商店、租赁商品部、垂直营销系统、平台零售商。
5、零售组织发展演变理论有哪些?根据你对周围零售组织的认识,这些理论有什么局限性?答案要点:零售组织发展演变理论主要有:零售轮转理论、手风琴理论、自然淘汰理论、辨证过程理论、生命周期理论、商品攀升理论。
国际财务管理课后习题答案chapter 8之欧阳道创编
CHAPTER 8 MANAGEMENT OF TRANSACTIONEXPOSURESUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS1. How would you define transaction exposure? How is it different from economic exposure?Answer: Transaction exposure is the sensitivity of realized domestic currency values of the firm’s contractual cash flows denominated in foreign currencies to unexpected changes in exchange rates. Unlike economic exposure, transaction exposure is well-defined and short-term.2. Discuss and compare hedging transaction exposure using the forward contract vs. money market instruments. When do the alternative hedging approaches produce the same result? Answer: Hedging transaction exposure by a forward contract is achieved by selling or buying foreign currency receivables or payables forward. On the other hand, money market hedgeis achieved by borrowing or lending the present value of foreign currency receivables or payables, thereby creating offsetting foreign currency positions. If the interest rate parity is holding, the two hedging methods are equivalent.3. Discuss and compare the costs of hedging via the forward contract and the options contract.Answer: There is no up-front cost of hedging by forward contracts. In the case of options hedging, however, hedgers should pay the premiums for the contracts up-front. The cost of forward hedging, however, may be realized ex post when the hedger regrets his/her hedging decision.4. What are the advantages of a currency options contract as a hedging tool compared with the forward contract?Answer: The main advantage of using options contracts for hedging is that the hedger can decide whether to exercise options upon observing the realized future exchange rate. Options thus provide a hedge against ex post regret that forward hedger might have to suffer. Hedgers can only eliminate the downside risk while retaining the upside potential.5. Suppose your company has purchased a put option on the German mark to manage exchange exposure associated with an account receivable denominated in that currency. In this case, your company can be said to have an ‘insurance’ policyon its receivable. Explain in what sense this is so.Answer: Your company in this case knows in advance that it will receive a certain minimum dollar amount no matter what might happen to the $/€exchange rate. Furthermore, if the German mark appreciates, your company will benefit from the rising euro.6. Recent surveys of corporate exchange risk management practices indicate that many U.S. firms simply do not hedge. How would you explain this result?Answer: There can be many possible reasons for this. First, many firms may feel that they are not really exposed to exchange risk due to product diversification, diversified markets for their products, etc. Second, firms may be using self-insurance against exchange risk. Third, firms may feel that shareholders can diversify exchange risk themselves, rendering corporate risk management unnecessary.7. Should a firm hedge? Why or why not?Answer: In a perfect capital market, firms may not need to hedge exchange risk. But firms can add to their value by hedging if markets are imperfect. First, if management knows about the firm’s exposure better than shareholders, the firm, not its shareholders, should hedge. Second, firms may be able to hedge at a lower cost. Third, if default costs are significant, corporate hedging can be justifiable because it reduces theprobability of default. Fourth, if the firm faces progressive taxes, it can reduce tax obligations by hedging which stabilizes corporate earnings.8. Using an example, discuss the possible effect of hedging ona firm’s tax obligations.Answer: One can use an example similar to the one presented in the chapter.9. Explain contingent exposure and discuss the advantages of using currency options to manage this type of currency exposure.Answer: Companies may encounter a situation where they may or may not face currency exposure. In this situation, companies need options, not obligations, to buy or sell a given amount of foreign exchange they may or may not receive or have to pay. If companies either hedge using forward contracts or do not hedge at all, they may face definite currency exposure.10. Explain cross-hedging and discuss the factors determining its effectiveness.Answer: Cross-hedging involves hedging a position in one asset by taking a position in another asset. The effectiveness of cross-hedging would depend on the strength and stability of the relationship between the two assets.PROBLEMS1. Cray Research sold a super computer to the Max Planck Institute in Germany on credit and invoiced €10 million payable in six months. Currently, the six-month forward exchange rate is $1.10/€ and the foreign exchange adviso r for Cray Research predicts that the spot rate is likely to be $1.05/€ in six months.(a) What is the expected gain/loss from the forward hedging?(b) If you were the financial manager of Cray Research, would you recommend hedging this euro receivable? Why or why not?(c) Suppose the foreign exchange advisor predicts that the future spot rate will be the same as the forward exchange rate quoted today. Would you recommend hedging in this case? Why or why not?Solution: (a) Expected gain($) = 10,000,000(1.10 – 1.05)= 10,000,000(.05)= $500,000.(b) I would recommend hedging because Cray Research can increase the expected dollar receipt by $500,000 and also eliminate the exchange risk.(c) Since I eliminate risk without sacrificing dollar receipt, I still would recommend hedging.2. IBM purchased computer chips from NEC, a Japanese electronics concern, and was billed ¥250 million payable in threemonths. Currently, the spot exchange rate is ¥105/$ and the three-month forward rate is ¥100/$. The three-month money market interest rate is 8 percent per annum in the U.S. and 7 percent per annum in Japan. The management of IBM decided to use the money market hedge to deal with this yen account payable.(a) Explain the process of a money market hedge and compute the dollar cost of meeting the yen obligation.(b) Conduct the cash flow analysis of the money market hedge. Solution: (a). Let’s first compute the PV of ¥250 million, i.e., 250m/1.0175 = ¥245,700,245.7So if the above yen amount is invested today at the Japanese interest rate for three months, the maturity value will be exactly equal to ¥25 million which is the amount of payable. To buy the above yen amount today, it will cost:$2,340,002.34 = ¥250,000,000/105.The dollar cost of meeting this yen obligation is $2,340,002.34 as of today.(b)__________________________________________________ _________________Transaction CF0 CF1__________________________________________________ __________________1. Buy yens spot -$2,340,002.34with dollars ¥245,700,245.702. Invest in Japan - ¥245,700,245.70¥250,000,0003. Pay yens - ¥250,000,000 Net cash flow - $2,340,002.34__________________________________________________ __________________3. You plan to visit Geneva, Switzerland in three months to attend an international business conference. You expect to incur the total cost of SF 5,000 for lodging, meals and transportation during your stay. As of today, the spot exchange rate is $0.60/SF and the three-month forward rate is $0.63/SF. You can buy the three-month call option on SF with the exercise rate of $0.64/SF for the premium of $0.05 per SF. Assume that your expected future spot exchange rate is the same as the forward rate. The three-month interest rate is 6 percent per annum in the United States and 4 percent per annum in Switzerland.(a) Calculate your expected dollar cost of buying SF5,000 if you choose to hedge via call option on SF.(b) Calculate the future dollar cost of meeting this SF obligation if you decide to hedge using a forward contract. (c) At what future spot exchange rate will you be indifferentbetween the forward and option market hedges?(d) Illustrate the future dollar costs of meeting the SF payable against the future spot exchange rate under both the options and forward market hedges.Solution: (a) Total option premium = (.05)(5000) = $250. In three months, $250 is worth $253.75 = $250(1.015). At the expected future spot rate of $0.63/SF, which is less than the exercise price, y ou don’t expect to exercise options. Rather, you expect to buy Swiss franc at $0.63/SF. Since you are going to buy SF5,000, you expect to spend $3,150 (=.63x5,000). Thus, the total expected cost of buying SF5,000 will be the sum of $3,150 and $253.75, i.e., $3,403.75.(b) $3,150 = (.63)(5,000).(c) $3,150 = 5,000x + 253.75, where x represents the break-even future spot rate. Solving for x, we obtain x = $0.57925/SF. Note that at the break-even future spot rate, options will not be exercised.(d) If the Swiss franc appreciates beyond $0.64/SF, which is the exercise price of call option, you will exercise the option and buy SF5,000 for $3,200. The total cost of buying SF5,000 will be $3,453.75 = $3,200 + $253.75.This is the maximum you will pay. 4. Boeing just signed a contract to sell a Boeing 737 aircraft to Air France. Air France will be billed €20 million which is payable in one year. The current spot exchange rate is $1.05/€ and the one-year forward rate is $1.10/€. The annual interestrate is 6.0% in the U.S. and 5.0% in France. Boeing isconcerned with the volatile exchange rate between the dollar and the euro and would like to hedge exchange exposure.(a) It is considering two hedging alternatives: sell the euro proceeds from the sale forward or borrow euros from the Credit Lyonnaise against the euro receivable. Which alternative would you recommend? Why?(b) Other things being equal, at what forward exchange rate would Boeing be indifferent between the two hedging methods? Solution: (a) In the case of forward hedge, the future dollar proceeds will be (20,000,000)(1.10) = $22,000,000. In the case of money market hedge (MMH), the firm has to first borrow the PV of its euro receivable, i.e., 20,000,000/1.05 =€19,047,619. Then the firm should exchange t his euro amount into dollars at the current spot rate to receive:$ Cost Options hedge Forward hedge $3,453.75 $3,1500 0.579 0.64 (strike price) $/SF $253.75(€19,047,619)($1.05/€) = $20,000,000, which can be invested at the dollar interest rate for one year to yield:$20,000,000(1.06) = $21,200,000.Clearly, the firm can receive $800,000 more by using forward hedging.(b) According to IRP, F = S(1+i$)/(1+i F). Thus the “indifferent” forward rate will be:F = 1.05(1.06)/1.05 = $1.06/€.5. Suppose that Baltimore Machinery sold a drilling machine to a Swiss firm and gave the Swiss client a choice of paying either $10,000 or SF 15,000 in three months.(a) In the above example, Baltimore Machinery effectively gave the Swiss client a free option to buy up to $10,000 dollars using Swiss franc. What is the ‘implied’ exercise exchan ge rate?(b) If the spot exchange rate turns out to be $0.62/SF, which currency do you think the Swiss client will choose to use for payment? What is the value of this free option for the Swiss client?(c) What is the best way for Baltimore Machinery to deal with the exchange exposure?Solution: (a) The implied exercise (price) rate is: 10,000/15,000 = $0.6667/SF.(b) If the Swiss client chooses to pay $10,000, it will costSF16,129 (=10,000/.62). Since the Swiss client has an option to pay SF15,000, it will choose to do so. The value of this option is obviously SF1,129 (=SF16,129-SF15,000).(c) Baltimore Machinery faces a contingent exposure in the sense that it may or may not receive SF15,000 in the future. The firm thus can hedge this exposure by buying a put option on SF15,000.6. Princess Cruise Company (PCC) purchased a ship from Mitsubishi Heavy Industry. PCC owes Mitsubishi Heavy Industry 500 million yen in one year. The current spot rate is 124 yen per dollar and the one-year forward rate is 110 yen per dollar. The annual interest rate is 5% in Japan and 8% in the U.S. PCC can also buy a one-year call option on yen at the strike price of $.0081 per yen for a premium of .014 cents per yen.(a) Compute the future dollar costs of meeting this obligation using the money market hedge and the forward hedges.(b) Assuming that the forward exchange rate is the best predictor of the future spot rate, compute the expected future dollar cost of meeting this obligation when the option hedge is used.(c) At what future spot rate do you think PCC may be indifferent between the option and forward hedge? Solution: (a) In the case of forward hedge, the dollar cost willbe 500,000,000/110 = $4,545,455. In the case of money market hedge, the future dollar cost will be: 500,000,000(1.08)/(1.05)(124)= $4,147,465.(b) The option premium is: (.014/100)(500,000,000) = $70,000. Its future value will be $70,000(1.08) = $75,600.At the expected future spot rate of $.0091(=1/110), which is higher than the exercise of $.0081, PCC will exercise its call option and buy ¥500,000,000 for $4,050,000 (=500,000,000x.0081).The total expected cost will thus be $4,125,600, which is the sum of $75,600 and $4,050,000.(c) When the option hedge is used, PCC will spend “at most” $4,125,000. On the other hand, when the forward hedging is used, PCC will have to spend $4,545,455 regardless of the future spot rate. This means that the options hedge dominates the forward hedge. At no future spot rate, PCC will be indifferent between forward and options hedges.7. Airbus sold an aircraft, A400, to Delta Airlines, a U.S. company, and billed $30 million payable in six months. Airbus is concerned with the euro proceeds from international sales and would like to control exchange risk. The current spot exc hange rate is $1.05/€ and six-month forward exchange rate is $1.10/€ at the moment. Airbus can buy a six-month putoption on U.S. dollars with a strike price of €0.95/$ for a premium of €0.02 per U.S. dollar. Currently, six-month interest rate is 2.5% in the euro zone and 3.0% in the U.S.pute the guaranteed euro proceeds from the Americansale if Airbus decides to hedge using a forward contract.b.If Airbus decides to hedge using money market instruments,what action does Airbus need to take? What would be the guaranteed euro proceeds from the American sale in this case?c.If Airbus decides to hedge using put options on U.S. dollars,what would be the ‘expected’ euro proceeds from the American sale? Assume that Airbus regards the current forward exchange rate as an unbiased predictor of the future spot exchange rate.d.At what future spot exchange rate do you think Airbus willbe indifferent between the option and money market hedge? Solution:a. Airbus will sell $30 million forward for €27,272,727 = ($30,000,000) / ($1.10/€).b. Airbus will borrow the present value of the dollar receivable, i.e., $29,126,214 = $30,000,000/1.03, and then sell the dollar proceeds spot for euros: €27,739,251. This is the euro amount that Airbus is going to keep.c. Since the expected future spot rate is less than the strikeprice of the put option, i.e., €0.9091< €0.95, Airbus expects to exercise the option and receive €28,500,000 = ($30,000,000)(€0.95/$). This is gross proceeds. Airbus spent €600,000 (=0.02x30,000,000) u pfront for the option and its future cost is equal to €615,000 = €600,000 x 1.025. Thus the net euro proceeds from the American sale is €27,885,000, which is the difference between the gross proceeds and the option costs.d. At the indifferent future spot rate, the following will hold:€28,432,732 = S T (30,000,000) - €615,000.Solving for S T, we obtain the “indifference” future spot exchange rate, i.e., €0.9683/$, or $1.0327/€. Note that €28,432,732 is the future value of the proceeds under money market hedging:€28,432,732 = (€27,739,251) (1.025).Suggested solution for Mini Case: Chase Options, Inc.[See Chapter 13 for the case text]Chase Options, Inc.Hedging Foreign Currency Exposure Through Currency OptionsHarvey A. PoniachekI. Case SummaryThis case reviews the foreign exchange options market and hedging. It presents various international transactions thatrequire currency options hedging strategies by the corporations involved. Seven transactions under a variety of circumstances are introduced that require hedging by currency options. The transactions involve hedging of dividend remittances, portfolio investment exposure, and strategic economic competitiveness. Market quotations are provided for options (and options hedging ratios), forwards, and interest rates for various maturities.II. Case Objective.The case introduces the student to the principles of currency options market and hedging strategies. The transactions are of various types that often confront companies that are involved in extensive international business or multinational corporations. The case induces students to acquire hands-on experience in addressing specific exposure and hedging concerns, including how to apply various market quotations, which hedging strategy is most suitable, and how to address exposure in foreign currency through cross hedging policies. III. Proposed Assignment Solution1. The company expects DM100 million in repatriated profits, and does not want the DM/$ exchange rate at which they convert those profits to rise above 1.70. They can hedge this exposure using DM put options with a strike price of 1.70. If the spot rate rises above 1.70, they can exercise the option,while if that rate falls they can enjoy additional profits from favorable exchange rate movements.To purchase the options would require an up-front premium of: DM 100,000,000 x 0.0164 = DM 1,640,000.With a strike price of 1.70 DM/$, this would assure the U.S. company of receiving at least:DM 100,000,000 – DM 1,640,000 x (1 + 0.085106 x 272/360) = DM 98,254,544/1.70 DM/$ = $57,796,791by exercising the option if the DM depreciated. Note that the proceeds from the repatriated profits are reduced by the premium paid, which is further adjusted by the interest foregone on this amount.However, if the DM were to appreciate relative to the dollar, the company would allow the option to expire, and enjoy greater dollar proceeds from this increase.Should forward contracts be used to hedge this exposure, the proceeds received would be:DM100,000,000/1.6725 DM/$ = $59,790,732,regardless of the movement of the DM/$ exchange rate. While this amount is almost $2 million more than that realized using option hedges above, there is no flexibility regarding the exercise date; if this date differs from that at which the repatriate profits are available, the company may be exposed to additional further current exposure. Further, there is noopportunity to enjoy any appreciation in the DM.If the company were to buy DM puts as above, and sell an equivalent amount in calls with strike price 1.647, the premium paid would be exactly offset by the premium received. This would assure that the exchange rate realized would fall between 1.647 and 1.700. If the rate rises above 1.700, the company will exercise its put option, and if it fell below 1.647, the other party would use its call; for any rate in between, both options would expire worthless. The proceeds realized would then fall between:DM 100,00,000/1.647 DM/$ = $60,716,454andDM 100,000,000/1.700 DM/$ = $58,823,529.This would allow the company some upside potential, while guaranteeing proceeds at least $1 million greater than the minimum for simply buying a put as above.Buy/Sell OptionsDM/$Spot Put Payoff “Put”Profits Call Payoff“Call”Profits Net Profit1.60 (1,742,846) 0 1,742,846 60,716,454 60,716,454 1.61 (1,742,846) 0 1,742,846 60,716,454 60,716,454 1.62 (1,742,846) 0 1,742,846 60,716,454 60,716,454 1.63 (1,742,846) 0 1,742,846 60,716,454 60,716,454 1.64 (1,742,846) 0 1,742,846 60,716,454 60,716,454 1.65 (1,742,846) 60,606,061 1,742,846 0 60,606,0611.66 (1,742,846) 60,240,964 1,742,846 0 60,240,964 1.67 (1,742,846) 59,880,240 1,742,846 0 59,880,240 1.68 (1,742,846) 59,523,810 1,742,846 0 59,523,810 1.69 (1,742,846) 59,171,598 1,742,846 0 59,171,598 1.70 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.71 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.72 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.73 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.74 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.75 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.76 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.77 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.78 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.79 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.80 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.81 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.82 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.83 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.84 (1,742,846) 58,823,529 1,742,846 0 58,823,529 1.85 (1,742,846) 58,823,529 1,742,846 0 58,823,529Since the firm believes that there is a good chance that the pound sterling will weaken, locking them into a forward contract would not be appropriate, because they would lose the opportunity to profit from this weakening. Their hedge strategy should follow for an upside potential to match their viewpoint. Therefore, they should purchase sterling call options, paying a premium of:5,000,000 STG x 0.0176 = 88,000 STG.If the dollar strengthens against the pound, the firm allows the option to expire, and buys sterling in the spot market at a cheaper price than they would have paid for a forward contract; otherwise, the sterling calls protect against unfavorable depreciation of the dollar.Because the fund manager is uncertain when he will sell the bonds, he requires a hedge which will allow flexibility as to the exercise date. Thus, options are the best instrument for him to use. He can buy A$ puts to lock in a floor of 0.72 A$/$. Since he is willing to forego any further currency appreciation, he can sell A$ calls with a strike price of 0.8025 A$/$ to defray the cost of his hedge (in fact he earns a net premium of A$ 100,000,000 x (0.007234 – 0.007211) = A$ 2,300), while knowing that he can’t receive less than 0.72 A$/$ when redeeming his investment, and can benefit from a small appreciation of the A$.Example #3:Problem: Hedge principal denominated in A$ into US$. Forgo upside potential to buy floor protection.I. Hedge by writing calls and buying puts1) Write calls for $/A$ @ 0.8025Buy puts for $/A$ @ 0.72# contracts needed = Principal in A$/Contract size100,000,000A$/100,000 A$ = 1002) Revenue from sale of calls = (# contracts)(size of contract)(premium)$75,573 = (100)(100,000 A$)(.007234 $/A$)(1 + .0825 195/360)3) Total cost of puts = (# contracts)(size of contract)(premium)$75,332 = (100)(100,000 A$)(.007211 $/A$)(1 + .0825 195/360)4) Put payoffIf spot falls below 0.72, fund manager will exercise putIf spot rises above 0.72, fund manager will let put expire5) Call payoffIf spot rises above .8025, call will be exercised If spot falls below .8025, call will expire6) Net payoffSee following Table for net payoff Australian Dollar Bond HedgeStrikePrice Put Payoff “Put”Principal Call Payoff“Call”Principal Net Profit0.60 (75,332) 72,000,000 75,573 0 72,000,241 0.61 (75,332) 72,000,000 75,573 0 72,000,241 0.62 (75,332) 72,000,000 75,573 0 72,000,241 0.63 (75,332) 72,000,000 75,573 0 72,000,241 0.64 (75,332) 72,000,000 75,573 0 72,000,241 0.65 (75,332) 72,000,000 75,573 0 72,000,241 0.66 (75,332) 72,000,000 75,573 0 72,000,241 0.67 (75,332) 72,000,000 75,573 0 72,000,241 0.68 (75,332) 72,000,000 75,573 0 72,000,241 0.69 (75,332) 72,000,000 75,573 0 72,000,241 0.70 (75,332) 72,000,000 75,573 0 72,000,241 0.71 (75,332) 72,000,000 75,573 0 72,000,241 0.72 (75,332) 72,000,000 75,573 0 72,000,241 0.73 (75,332) 73,000,000 75,573 0 73,000,241 0.74 (75,332) 74,000,000 75,573 0 74,000,241 0.75 (75,332) 75,000,000 75,573 0 75,000,241 0.76 (75,332) 76,000,000 75,573 0 76,000,241 0.77 (75,332) 77,000,000 75,573 0 77,000,241 0.78 (75,332) 78,000,000 75,573 0 78,000,241 0.79 (75,332) 79,000,000 75,573 0 79,000,241 0.80 (75,332) 80,000,000 75,573 0 80,000,241 0.81 (75,332) 0 75,573 80,250,000 80,250,241 0.82 (75,332) 0 75,573 80,250,000 80,250,241 0.83 (75,332) 0 75,573 80,250,000 80,250,241 0.84 (75,332) 0 75,573 80,250,000 80,250,241 0.85 (75,332) 0 75,573 80,250,000 80,250,2414. The German company is bidding on a contract which they cannot be certain of winning. Thus, the need to execute a currency transaction is similarly uncertain, and using a forward or futures as a hedge is inappropriate, because it would force them to perform even if they do not win the contract.Using a sterling put option as a hedge for this transaction makes the most sense. For a premium of:12 million STG x 0.0161 = 193,200 STG,they can assure themselves that adverse movements in the pound sterling exchange rate will not diminish the profitability of the project (and hence the feasibility of their bid), while at the same time allowing the potential for gains from sterling appreciation.5. Since AMC in concerned about the adverse effects that a strengthening of the dollar would have on its business, we need to create a situation in which it will profit from such an appreciation. Purchasing a yen put or a dollar call will achieve this objective. The data in Exhibit 1, row 7 represent a 10 percent appreciation of the dollar (128.15 strike vs. 116.5 forward rate) and can be used to hedge against a similar appreciation of the dollar.For every million yen of hedging, the cost would be:Yen 100,000,000 x 0.000127 = 127 Yen.To determine the breakeven point, we need to compute thevalue of this option if the dollar appreciated 10 percent (spot rose to 128.15), and subtract from it the premium we paid. This profit would be compared with the profit earned on five to 10 percent of AMC’s sales (which would be lost as a result of the dollar appreciation). The number of options to be purchased which would equalize these two quantities would represent the breakeven point.Example #5:Hedge the economic cost of the depreciating Yen to AMC.If we assume that AMC sales fall in direct proportion to depreciation in the yen (i.e., a 10 percent decline in yen and 10 percent decline in sales), then we can hedge the full value of AMC’s sales. I have assumed $100 million in sales.1) Buy yen puts# contracts needed = Expected Sales *Current ¥/$ Rate / Contract size9600 = ($100,000,000)(120¥/$) / ¥1,250,0002) Total Cost = (# contracts)(contract size)(premium)$1,524,000 = (9600)(¥1,250,000)($0.0001275/¥)3) Floor rate = Exercise – Premium128.1499¥/$ = 128.15¥/$ - $1,524,000/12,000,000,000¥4) The payoff changes depending on the level of the ¥/$ rate.The following table summarizes the payoffs. An equilibrium is reached when the spot rate equals the floor rate.AMC ProfitabilityYen/$ Spot Put Payoff Sales Net Profit 120 (1,524,990) 100,000,000 98,475,010 121 (1,524,990) 99,173,664 97,648,564 122 (1,524,990) 98,360,656 96,835,666 123 (1,524,990) 97,560,976 86,035,986 124 (1,524,990) 96,774,194 95,249,204 125 (1,524,990) 96,000,000 94,475,010 126 (1,524,990) 95,238,095 93,713,105 127 (847,829) 94,488,189 93,640,360 128 (109,640) 93,750,000 93,640,360 129 617,104 93,023,256 93,640,360 130 1,332,668 92,307,692 93,640,360 131 2,037,307 91,603,053 93,640,360 132 2,731,269 90,909,091 93,640,360 133 3,414,796 90,225,664 93,640,360 134 4,088,122 89,552,239 93,640,360 135 4,751,431 88,888,889 93,640,360 136 5,405,066 88,235,294 93,640,360 137 6,049,118 87,591,241 93,640,360 138 6,683,839 86,966,522 93,640,360 139 7,308,425 86,330,936 93,640,360 140 7,926,075 85,714,286 93,640,360 141 8,533,977 85,106,383 93,640,360 142 9,133,318 84,507,042 93,640,360 143 9,724,276 83,916,084 93,640,360 144 10,307,027 83,333,333 93,640,360 145 10,881,740 82,758,621 93,640,360 146 11,448,579 82,191,781 93,640,360 147 12,007,707 81,632,653 93,640,360 148 12,569,279 81,081,081 93,640,360。
零售学(第二版)-《零售学》(第二版)思考题及案例分析答案要点
《零售学》(第二版)思考题及案例分析答案要点第一章一、思考题答案要点1.零售活动具有什么特点?这些特点使零售商在经营过程中需要注意什么问题?答案要点:零售活动具有如下特点:一是交易规模小,交易频率高。
这要求零售商严格控制与每一笔交易相关的费用。
二是顾客即兴购买多,且受情感影响大。
这要求零售商必须关注商品展示,营造良好的购物氛围和购物体验。
三是去商店购物仍是顾客的主要购物方式。
这要求零售商不得不在商店的位置和设施等方面下工夫。
2.商品从生产领域转移到消费领域可以经过哪些路径?零售商在这一转移过程中担任什么角色?答案要点:商品从生产领域转移到消费领域可以经过如下路径:生产者——消费者,生产者——零售商——消费者,生产者——批发商——零售商——消费者。
零售商在这一转移过程中起着连接生产、批发和消费的角色。
3.零售业为什么是一个国家最重要的行业之一?其重要性体现在哪些方面?答案要点:零售业是一个国家最重要的行业,其重要性体现在:零售业所创造的产值在国内生产总值中占有举足轻重的地位,零售业税收是国家税收的主要来源之一,零售业的发展与人们生活水平的提高息息相关,零售业是一个国家和地区的主要就业渠道,零售业是反映一个国家和地区经济运行状况的晴雨表。
4.零售组织按所有权性质划分有哪些类型?答案要点:零售组织按所有权性质划分主要有独立商店、直营连锁商店、特许经营、租赁商品部、垂直营销系统、消费者合作社。
5.零售组织发展演变理论有哪些?根据你对周围零售组织的认识,这些理论有什么局限性?答案要点:零售组织发展演变理论主要有:零售轮转理论、手风琴理论、自然淘汰理论、辨证过程理论、生命周期理论、商品攀升理论。
这些理论都有一定的局限性,如零售轮转理论不能解释便利店的出现;手风琴理论不能解释目前购物中心与大型专业店蓬勃发展的现象;辩证过程理论不能解释网络商店的出现;生命周期理论不能解释专业店的持续兴旺;自然淘汰理论过于空泛,应用范围太广,不能看作是零售组织特有的发展规律;商品攀升理论也是能说明一部分零售商的商品组合变化。
《零售学》(04191)习题答案
《零售学》习题答案教材:陈文汉主编电子工业出版社2008年5月第一版第一章一、选择题1.ABCDE2.A3.B4.ABCDE二、简答题1.零售是指把商品或随商品而提供的服务直接出售给最终消费者的销售活动。
零售概念的理解应把握以下方面:(1)零售活动是将商品及相关服务提供给消费者用于最终消费的活动。
出售商品或服务用于最终消费是零售活动的基本特征。
(2)零售顾客主要是个人消费者。
(3)零售活动不只涉及有形的商品销售,而且还包括服务性劳动以及向消费者提供有关商品的各种附加信。
(4)零售活动不限于在固定的营业场所进行,很多无店铺的销售活动也是零售。
适当而有效地采用各种无店铺销售,也会增加零售成功的机会。
2.零售活动的特点主要有:零售交易的交易规模小、交易频率高;零售活动的销售范围一般限于所在地点附近或周围的一定地区;零售交易的商品均须与顾客见面,当场选择成交;在零售活动中,消费者购买呈现出较强的随机性。
3.零售商的职能包括:把从制造商和批发商那里购进的商品,按消费者的需求进行分类组合和配货;为消费者提供各种服务;为满足消费者的需要,进行必要的商品储备并承担相应的风险,具有储存商品与风险职能;采用信用销售的方式,具有信用职能;为制造商和消费者提供需求信息和商品信息,具有信息传递职能;为消费者提供娱乐场所,陶冶消费者的情趣,具有娱乐职能。
4.C&C职业标准具有以下特点:(1)职业标准是由来自企业和大学的众多专家制定的,并且每隔三四年根据经济发展和科技进步现状修正,具有先进性和科学性;(2)标准性和适应性。
一方面零售职业标准是C&G针对零售商业制定行业职业标准;另一方面职业教育以特定职业的工作标准设计教学要求,并建立了科学、严格的培训和考评体系,保证了人员水平的标准性。
不同企业根据商品零售职业标准,制定不同岗位的具体操作要求,确定培训的具体内容,考核员工在其相应岗位的能力,这种考评体系具有对不同企业和岗位的适应性;(3)针对性和实用性。
- 1、下载文档前请自行甄别文档内容的完整性,平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益,请联系客服反馈,我们会尽快为您处理(人工客服工作时间:9:00-18:30)。
零售学习题集第1章导论1.什么是零售业态?零售业态是指零售企业为满足不同的消费者需求而形成的不同的经营形态。
2.现代零售商应怎样充分利用零售市场的核心要素确定竞争策略?零售业的核心三要素:竞争,环境,顾客1)竞争是零售市场的第一核心要素。
首先是指零售商同一业态之间的竞争。
一家零售商的最初竞争者就是那些与之具有同样经营业态的企业,如百货商店与百货商店之间的竞争。
其次是抢夺式的竞争。
零售商为了吸引更多的顾客,采用提供种类更多的商品的经营策略。
如在百货商店、超级市场、仓储商店增加图书商品经营。
最后还有不同业态的零售商之间的竞争。
消费者需求的多样化、层次化和个性化吸引了零售商的目光,因此,日益加剧的不同经营业态零售商之间展开了争夺顾客的行动,扩大某些商品销售去适应目标市场顾客群体的需要。
如折扣百货商店、仓储超市和百货商店之间的竞争,这类型的竞争也使零售商更难于辨别和监控竞争的类型。
研究零售商的不同类型及他们之间的竞争的不同方式和程度,对于零售企业如何去面对竞争、制定成功的零售战略和策略至关重要。
2)零售市场的第二个核心要素是环境。
这里的环境含义十分广泛。
零售商所面临的是一个变化中的极具挑战性的商业环境:各国政治、经济、文化、科技水平、法律、道德、习惯、风俗不同;行业的业态结构、发展趋势等;顾客需求变化快等,都需要零售商及时做出反应,以便更有效地满足顾客的需求,环境要素是零售商获得成功,必须时刻关注的问题。
3)顾客是零售市场的第三个核心要素。
顾客对于零售商是否认可和支持,是办好零售企业的关键。
因此,要对顾客的购买原因、动机、选择购物商店的决策方式以及如何服务好顾客进行研究,使顾客高兴而来,满意而去。
3.零售组织演化规律的理论有哪些?1)零售轮转理论:2)手风琴理论:这个理论认为,零售企业经营范围是不断从综合化向专业化再向综合化方向循环发展的,每一次循环不是过去的重复,而是赋予新的内涵,从而出现了不同的零售组织。
按这一理论,美国等西方国家零售业大致经历了五个时期:杂货店-专业店-百货商店-超市-便利店-购物中心。
3)自然淘汰理论:自然淘汰理论是直接从达尔文的自然选择理论派生出来的。
其主要内容是:零售组织的发展变化必须要与社会经济环境相适应,诸如生产结构、技术革新、消费增长及竞争态势等。
越是能适应这些环境变化,越是能生存至永远。
否则将会自然地被淘汰或走向衰落。
例如,美国在第二次世界大战后,社会经济发生了巨大变化,城市人口向郊区转移,这使得位于市中心的百货商店由于地理限制、交通拥挤、停车困难、客流量减少等原因,业务经营遭到了困难,而在市郊的购物中心则蓬勃发展。
4)辩证过程理论:这是根据黑格尔哲学中的正、反、合的原理来说明零售组织发展变革的规律。
把这个理论应用到零售业来说,正是指旧零售组织,反是指它的对立面,合则是前两者竞争的产物。
在新旧零售组竞争过程中,两者相互融合,最后产生了兼有前两者零售形式的经营特点,但又与它们有明显不同的一种更新的零售组织。
5)生命周期理论:这种理论认为,如同产品生命周期一样,零售组织也有生命周期。
随着时代的发展,每一个零售组织都将经历创新期、发展期、成熟期、衰退期四个阶段。
这种理论分析了各零售组织从创新到成熟的间隔期,并对各个阶段零售组织的特点作了描述,提出了处于不同阶段的各零售组织可采取的相应策略。
6)商品攀升理论:商品攀升理论是从零售组织的产品线角度解释其发展变化的。
它说明的是零售组织不断增加其商品组合宽度的规律,当零售组织增加相互不关联的或与公司原业务范围无关的商品和服务时,即发生了商品攀升。
商品攀升现象源于零售商希望增加销售规模;卖得快的和毛利高的商品和服务不断加入;消费者的购买冲动越来越多;消费者热衷于一次购齐;可抵达不同的目标市场;季节影响和竞争力可能降低。
此外,零售商原经营产品线的需求可能下降,使其不得不增加产品线宽度以稳定顾客基础。
4.简述零售业四次重大变革的标志及特点。
5.零售营销的研究对象是什么?应怎样从事零售营销的学习与研究?零售营销的研究对象是零售企业的市场营销活动及其规律,即在特定的市场营销环境中,零售企业在市场分析的基础上,为满足消费者现实的或潜在的需要所实施的产品策略、价格策略、地点策略、促销策略为主要内容的整体营销活动过程及其内在客观规律性。
零售营销主要有六种研究方法,分别是:分业态研究法、零售功能研究法、管理研究法、系统研究法、社会研究法以及历史研究法。
第2章零售市场环境与商圈分析计算题:商圈的测定p78. 雷利法则ppt14-25. 赫夫法则、饱和理论1.社会转型时期零售消费行为的变化有何特征? 你怎样理解“零售顾客消费行为的变化既能给企业带来机遇,又能给零售企业带来挑战”?零售消费行为的变化特征有三点:➢经济发展收入增加,人均消费水平提高➢社会变革消费观念发生变化:有车有房、衣食无忧,靠自己生活,娱乐、发展的需求增加➢信息技术发展消费质量上升:到大卖场休闲,在家中网络购物,电话购物,在便利店接受服务。
理解:在十多年的变化中,中国消费者的消费行为经历了许多变化:➢生活水平的大幅度提高,消费水平和购买能力大大增强,为零售商提供了丰富多彩的商品和服务提供了机会。
➢人们思想观念的转变,使得消费者对于各方面的需求更加多样化,复杂化,零售商需要更近一步了解消费者真正需求,了解消费变化趋势,才能抓住市场。
➢信息技术的发展同样改变着人们的生活习惯及行为模式,这为零售商增加服务项目提供了选择。
➢零售商面对着顾客行为各方面的转变,需要一方面更加了解市场,一方面更加提升自己的形象及管理能力,才能在这个充满机遇和挑战的市场获得成功。
2.什么是零售商圈?有哪几种测定商圈方法?商圈是指商店吸引其顾客的地理区域,也就是来店购买商品的顾客所居住的地理范围。
分析零售商圈就是分析顾客,商圈是企业努力争取的,不是别人为企业划定的,也不是永远不变的。
有三种方法:雷利法则、赫夫法则、商圈饱和指数。
3.某城市A有人口100万人,B城有80万人口,两城之间距离为30公里,试用雷利法则测定A城的商圈范围。
见上雷利法则公式:记得带计算器4.商店选址应注意哪些问题?怎样评估零售店选址的资源?应注意:客流规律、周边商店聚集状况、竞争对手分析、交通地理条件、城市发展规划、周围环境、物业成本。
➢首先要了解自己(资金与人力资本)➢费用控制问题➢宏观环境的考察➢微观环境的考察➢关于政府的限制➢关于租房签约➢关于选址结束后的剩余信息处理。
资源来源:➢市场调研公司是基本数据信息的主要来源➢政府各部门也是信息的一大来源➢零售业与房地产产业关系密切➢连锁店的上家(供应商提供的信息)和下家(老顾客分析)也是选址的来源➢GIS——地理信息系统,在美国可以直接用来选址。
5.某地区购买果品的潜在顾客人数是14万人,每人每周在果品商店平均购买8元,该地区现有果品商店10家,营业总面积17.5万平方米,求该地区零售商业中果品行业的市场饱和系数。
IRS= 140000*8/175000 =6.4第3章零售营销战略1.何谓零售战略?零售战略对零售企业有何意义?零售战略(retail strategy)是指导零售企业进行经营活动的总体计划和行动纲领。
它将零售企业在战略期间的经营宗旨、目标、重点的具体活动及控制机制扼要地提了出来,描绘出一个未来的蓝图。
2.制定零售战略有那些程序?各程序包括哪些主要内容?零售战略的制定包括以下五个程序:1)确定零售企业的使命与任务:零售开班里有;企业主要责任2)确定战略目标:贡献目标值;市场竞争;竞争与发展目标;利润目标3)对实现目标的可能性分析而提出战略:战略分析;全面战略;战略措施4)从战略目标出发,提出对近期具体活动的计划与措施:日常和短期业务;对环境的反应(消费者方面,竞争方面)5)战略实施过程中的控制:评价;调控。
3.零售战略有哪些战略目标?这些战略目标是如何确定的?零售企业的使命是市场导向的描述,比较笼统,难于把握。
因此,要将企业使命这一总的指导方针转化为具体的目标。
目标是一家零售企业在长期和短期想达到的经营目的。
包括以下内容:➢贡献目标。
即提供给市场的产品数量、质量、资源节约、能源节约、生态环境保护、上缴利税及解决就业能力等。
➢市场目标。
即新市场的开发、老市场的渗透、市场占有率和销售额的提高等。
➢竞争与扩张目标。
行业中市场地位的提高和抵御竞争风险能力的提升,企业资源的扩充、规模的扩大、经营方向与经营形式的发展等。
➢利润目标。
即毛利率、净利率及其增长情况。
零售企业的利润一般用三个分目标来表示:销售利润、资产利润、经营利润。
制定战略目标的原则有:➢协调性原则➢分层次原则➢可行性原则➢激励性原则➢定量化【STP战略的战略目标是通过市场细分来确定的。
】而市场细分的方法包括:➢根据人口统计资料,如年龄、收入、性别、职业、教育程度、地址、住所类型、婚姻状况、子女人数、财产和流动性等。
这些人口统计资料对预测未来消费者的购买行为有很大用处。
➢根据消费者生活方式细分市场,在实践中有三种做法:1)一是研究社会阶层,确定消费者生活方式的需要。
他根据职业、收入和住房这项标准将消费者划分为六个阶层,每个阶层都包括了符合上述三项标准的同一类人。
2)二是利用家庭生命周期的演进,评估消费者生活方式。
根据消费者的家庭成员结构,从单身汉一直到退休的独居老人的演进,可以把消费者归入各种类型。
3)三是采用AIO测量法。
根据消费者的活动activities、兴趣interests、和见解opinions把它们分为各种类型,预测他们的购买行为。
4.零售商的竞争优势主要来源于哪些方面?试分析百货店、超级市场和便利店这几种业态的竞争优势的主要区别。
P64零售的店的竞争优势来源于商品、服务、店址与购物体验、低成本运作以及信息管理系统。
1)商品:零售商店归根结底是为消费者提供购物的场所,如果离开了商品这一关键因素,其他都是枉然。
2)服务:当前,在各家商店经营的商品相差无几的情况下,服务水平和服务项目成了顾客选择商家的一个重要因素。
优质的顾客服务能培养和保持顾客忠诚,对零售商至关重要。
3)店址与购物体验:店址对于零售商的成功是一个关键因素,好的位置是零售商的一笔无形资产,将源源不断地带来可观的赢利,为其赢得一种长远的优势。
舒适的购物环境、别出心裁的购物体验也同样对顾客有较大的吸引力,不同的消费者在不同业态的商店中购物,实际上都会获得一种整体零售体验。
4)低成本运作:低成本运作既能获得比竞争对手更高的边际利润,同时又能使用潜在的利润吸引更多的顾客,并增加销售额。
5)信息管理系统:信息技术使零售商制定更好和更有效的决策成为可能。
答案见第一章第一题。
5.试分析不同业态的零售商以什么为其主要竞争优势的来源?企业长时间维持由于平均水平的经营业绩,其根本基础是持久性竞争优势。