The Attic Trunk Began in 1979 as an Upscale Dress

question 78

Essay

The Attic Trunk began in 1979 as an upscale dress shop in Forest Ridge's fashionable shopping district, catering to a wealthy, mature clientele. Many other specialty shops lined the main avenue over the next few years. But as Forest Ridge began to attract an affluent, younger, and more demographically diverse population, the once-popular shopping district was increasingly perceived as stodgy and snobby. By the late 1980s, many of these specialty shops suffered financially. Most shops attracted only tourists who enjoyed browsing through the displays of alligator belts and shoes, piles of scented soaps, and useless flowered parasols, often laughing at the ridiculously high prices. Owners of The Attic Trunk had noticed the shifts in population and buying behaviour of the typical shopper by the late 1980s. In fact, the owners had observed that the once-fashionable shopping district in Forest Ridge no longer attracted a "typical shopper." The wealthy, mature clientele had been replaced with affluent families with children, and a mix of Asian and African Americans as well as Caucasians. Specialty items at The Attic Trunk gradually disappeared, replaced by brand-name apparel, colognes, and jewellery. Other owners followed suit in the early 1990s, bringing restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge
-Imagine that a female consumer is shopping at The Attic Trunk to look for a classy, branded shirt. Using this example, discuss each step of the buyer's decision process.

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Definitions:

Value Per Share

The amount of money that would be received for each share of stock if all of a company’s assets were sold at their exact book value.

Incremental Value

The additional value created by undertaking a particular action, project, or investment, compared to not doing so.

Shares Outstanding

The total number of shares of a company that are currently owned by shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.

Incremental Value

The additional or extra value created by undertaking a certain action or decision, compared to doing nothing or choosing an alternative.