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 textbo

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:

1. Imagine yourself as the manager of a struggling local suburban regional shopping mall. What do you think the mall should do to improve its performance?
2. What shopping trends do you foresee over the next 10 years? How might these trends affect suburban regional shopping malls?
3. What new retail concepts can you identify? How might you learn about more? What strategies do you suggest for learning about new retail concepts? (Perreault, Cannon, & McCarthy, 2021)
4. For each prompt, please include evidence to support your position. You may find it helpful to review Module 1 when you complete this assignment.

Formatting

The body of your APA-formatted case study must be at least 500 words. An abstract is not required. Do not use first or second person pronouns in your paper. Your report should include a cover page, cited references, and must include the following:

• Introduction: The introduction should introduce the topic to readers or provide enough background information so readers can understand the context of the paper. Although introductions should be included, do not use the heading, “Introduction.” The beginning is assumed to be the introduction.
• Content: The content should address each question with thoughtful, in-depth consideration reflecting both proper use of course terminology and additional original thought. Include a descriptive heading for each of the three primary questions. Do not use the questions themselves as headings.
• Conclusion: The conclusion should revisit key points or perhaps discuss future implications of the topics discussed in the paper. Using the heading “Conclusion” signals to readers that the document is ending.

Reference

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