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December 2021 Examination
Q1. “Pricing is the most important factor that generates revenue and rest other factors generate cost in marketing mix.” Considering this fact, describe the different types of retail pricing policies exists and identify from the same, which according to you M/s. Croma Retail adapts the retail pricing policy? (10 Marks)
Ans 1.
Introduction
Profit is determined by price, at the same time as costs are determined by rest of the marketing mix. Furthermore, unlike other factors such as product attributes, promotional sports, or channel partnerships, the charge is the most flexible detail in that it can be changed quickly. There are a variety of methods by which the cost can
Q2. UNIQLO is a Japanese casual wear designer, manufacturer and retailer which owns over 800 stores in Japan and over 900 stores in abroad in Asia, Europe and USA. UNIQLO mostly deals with simple, casual and fine quality clothes with inexpensive prices including sportswear, baby & kid’s clothes and office wear wants to enter in Indian Market. As a Retail Consultant, explain the stages in the strategic retail planning process to enter in the Indian Domestic Market? (10 Marks)
Ans 2.
Introduction
A retail company has to be able to develop retail strategies by following a step-by-step plan or system. The technique involves the assessment of the existing section of the business, the form of terminology, a list of strategic alternatives, and the selection of one or more strategies to implement due to the importance of strategic decision-making for the organization’s future development. An Indian-born marketer, Shantanu was a former P&G marketer, a Uniqlo marketing manager in India, and now returns to his native country after having worked overseas.
Q3. The retailing business of India offers many varieties and opportunities to consumers consuming retail products. To ensure retail business keeps up the pace at which the business grows in Indian context it is important for retail companies to keep adding value to the consumers choice.
a. From the viewpoint of the manufacturer, wholesaler and retailer, value is embodied by a series of activities and processes a value chain that offers a certain value for the consumer. Considering the fact, identify the different aspects of a value- oriented retail strategy one should follow (5 Marks)
Ans 3a)
Introduction
The distribution of the products will be mediated by several different stakeholders: the consumer, the retailer, the wholesaler, and the wholesaler. It is extremely likely that those parties will agree that they will be happy with their interaction if they share a similar idea of the value they have
b. In retailing business, consumers are exposed to many varieties in the business world. With more options consumers has these days it becomes challenging for brands to grab the attention of the potential customers. Considering the fact, explain the factors that influences the customer’s decision-making process for retail shopper? (5 Marks)
Ans 3b)
Introduction
It is also important that the store recognize its rivals’ belief in them and their desire to do business with them. A company will, by understanding how their competitors are viewed, be able to become more competitive. A company should also attempt to understand why customers prefer to compete against one another instead of competing against a product. There are some
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