Watch the video Suburban Regional Shopping Malls: Can the Magic Be Restored? (Links to an external site.)from McGraw-Hill.
According to Perreault, Cannon, & McCarthy (2021) from the course textbook’s Video Instructor’s Manual, “this video focuses on the current problems of suburban regional and superregional shopping centers. Southdale Center located in suburban Minneapolis is considered to be the prototype for most of the suburban regional and superregional shopping malls built during the second half of the twentieth century. Southdale opened in 1956 and featured 70 retail tenants in an 800,000 square foot enclosed, climate-controlled mall, anchored by two department stores.
The suburban regional shopping mall and their department store anchors enjoyed great success for almost 50 years. However, in the final decade of the twentieth century, they began to experience problems: competition (direct and indirect), industry overcapacity (retail space), a decline of the department store, and changes in shopping behavior. Strategies for turning around regional and superregional shopping centers include renovation, re-tenanting, entertainment, and zonal merchandising. The need to create an appealing, exciting shopping center that stimulates social activity is the key to revitalizing traditional malls. However, some suburban regional shopping centers will not survive. In fact, some have already been “decommissioned.” At the end of the segment, Rolling Acres Mall in Akron, OH, is shown as an example of a shopping center in trouble.
The video features interviews with several shopping center developers: Yaromir Steiner, CEO of Steiner & Associates, Bob Gorman, CSM, Area Manager of Greenwood Park Mall, Simon Property Group, Les Morris, Manager, Corporate Public Relations, Simon Property Group, Mike Leonard, COO. The Hogan Group, and Glen Hogan, President/CEO, The Hogan Group” (Perreault, Cannon, & McCarthy, 2021).
For this case study, you will need to address the following:
**** VERY IMPORTANT: This assignment requires extensive research. Completing this assignment involves more than summarizing the case or video presentation. Remember, effective marketing strategies must be designed to add value to the target market. When completing this assignment, students should demonstrate the needs of the target market and craft strategies that will satisfy the target market’s needs. Major marketing decisions should not be based on assumptions, instincts, or guesswork. Major marketing decisions should be rooted in evidence and facts. Therefore, it is critically important that students include a wealth of evidence to support how the target market derives value and how student-generated recommendations will provide the benefits sought by the target market. Remember to cite your sources in the body of your paper and include a reference page. Please identify and focus on one specific regional mall instead of regional malls in general. DO NOT simply repeat the information presented in the accompanying video. Conduct your own research to determine the problems your selected regional mall are experiencing, and your solutions should be based on satisfying consumers’ needs.
The body of your APA-formatted case study must be 2 to 5 pages double-spaced. The page count does not include the cover page, reference page, or any other charts, graphs, or tables. Body content in excess of 5 pages will not be considered for grading purposes. An abstract is not required. Do not use first or second person pronouns in your paper. Your report should include a cover page, rich citations in the body of your paper, a reference page, and must include the following:
Perreault, W. D. Jr., Cannon, J. P., & McCarthy, E. J. (2021). Instructor’s manual to accompany Essentials of marketing: A marketing strategy planning approach 17th edition. McGraw-Hill