Read the Urban Outfitters Continuing Case Study: Creating a business. You are to write and submit to the Dropbox a 3-4 page report that answers the following questions:
1. Identify at least three challenges when setting up a business. Explain why they are challenges.
2. Define what a product is. Give at least three examples of niche products.
3. Explain why a niche company might have an advantage in a market. Would price necessarily be an advantage? Explain why or why not.
4. Identify and explain three reasons why customers would pay more for exclusivity.
5. Explain how a niche player chips away at a larger competitor s base. Give three examples of retailers who have done this.
The format of the report is to be as follows:
Typed, double spaced, Times New Roman font (size 12), one inch margins on all sides, APA format.
Type the question followed by your answer to the question.
In addition to the 3-4 pages required, a title page is to be included. The title page is to contain the title of the assignment, your name, the instructor s name, the course title, and the date.
The report will be graded using the following rubric.
NOTE: One of the criteria that you will be graded on is the quality of your answers, the logic/organization of the report, your language skills, and your writing skills.
Outcome Assessed
Distinguish between the major forms of business ownership and compare the advantages and disadvantages of each.
Grading Rubric for Assignment # 1 – Urban Outfitters Continuing Case Study: Creating a Business
Criteria
0
Unacceptable
20
Developing
40
Competent
60
Exemplary
1. Identify at least three challenges when setting up a business. Explain why they are challenges.
Did not complete the assignment or either no challenges are identified or challenges are identified but no explanation of why each could be a challenge provided.
Only one challenge was identified and an explanation of why it could be a challenge provided.
Two challenges were identified and an explanation of why each could be a challenge provided.
Three challenges were identified and an explanation of why each could be a challenge provided.
2. Define what a niche product is. Give at least three examples of niche products.
Did not complete the assignment or Niche product is defined but no example of niche products given or gives one or more examples of niche products without defining the term.
Niche product is defined and one example of niche products provided.
Niche product is defined and two examples of niche products provided.
Niche product is defined and three examples of niche products are provided.
3. Explain why a niche company might have an advantage in a market. Would price necessarily be an advantage? Explain why or why not.
Does not complete the assignment; no reason is given for the possible advantage a niche company might have and the question about the role price would play is not answered; or the explanation for why a niche company might have an advantage and the answer to the question about the role price would play is unclear or in accurate and no explanation is given.
A partial reason for the possible advantage a niche company might have in a market is given; the answer to the question about what role price would play and the explanation is generally unclear
At least one reason for the possible advantage a niche company might have in a market is given; the question about what role price would play is both answered and explained.
More than one reason for the possible advantage a niche company might have in a market is given; the question about what role price would play is both answered and explained.
4. Identify and explain three reasons why customers would pay more for exclusivity.
Did not complete the assignment or gives no reasons for why customers would pay more for exclusive products or gives a partial, unclear reason with no explanation.
Identifies one reason, explained fully and coherently, for why customers would pay more for exclusivity.
Identifies two reasons, each explained fully and coherently, for why customers would pay more for exclusivity.
Identifies three reasons, each explained fully and coherently, for why customers would pay more for exclusivity.
5. Explain how a niche player chips away at a larger competitor base. Give three examples of retailers who have done this.
Did not complete the assignment or either gives no explanation of how a niche player can chip away at a larger competitor base and offers no examples or gives an unclear explanation and no examples.
Gives a generally unclear explanation of how a niche player can chip away at a larger competitor base and offers one concrete example of retailers who have done this.
Gives a reasonably clear, general explanation of how a niche player can chip away at a larger competitor base and offers two concrete examples of retailers who have done this.
Gives a clear, general explanation of how a niche player can chip away at a larger competitor base and offers three concrete examples of retailers who have done this.
6. Clarity
Did not complete the assignment or explanations are unclear and not organized. (Major issues)
Explanations generally unclear and not well organized. (Many issues)
Explanations generally clear and/or organized. (Minor issues)
Explanations very clear and well organized.
