Industry

Jumpstart

Week 1, Written Assignment #1 Sample Submission

Use this as an example to guide your thinking in terms of:
• Submission length
• Depth
• Degree of detail

Note this is a generic submission. In your submission, make sure to answer the questions with
your specific industry in mind.

1. How would you describe this industry? How does it function?
The retail industry consists of many different segments who basically buy goods from
manufacturers, then sell them (at an uplift price) to clients through point-of-sale channels. The
main activities of the retail industry include: managing how the product is ordered, stored, and
distributed (Supply Chain), the actual products and services, keeping stores open and profitable
(Store Operations), marketing; and managing customer relationships.

2. What are 2 primary segments? How would you define them?
General Merchandisers – Mass merchandise are large retailers who have a wide range of
product categories in one location.

Consumer Electronics is a segment that offers all types of consumer electronics such as video
games, personal computers, cameras, phones, and audio products.

3. What is one current industry trend?
One current industry trend is the widespread reliance of the average consumer on their devices.
People take their devices (smartphones, iPads, etc.) with them everywhere they go and are
seldom apart from them – day or night. They want instant access to information and quick
response and turnaround on any request or purchase. They are impatient and demanding. For
retailers, this means they must exploit technology to engage their customers seamlessly,
wherever and however the consumer chooses. Add to this that millennial consumers use the
internet for most transactions, this represents a great opportunity for all retailers.