MK0012- RETAIL MARKETING

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ASSIGNMENT

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

1 Explain the classification of retail formats in detail with Indian examples.

Answer : Australian entrepreneur, Gerry Harvey, once said this about retailing: “Basically we get confused a bit about what retail is. It is really just buying things, putting them on a floor and selling them.” Now there are countless retailers who sell their goods. In a country like India, where the population and economy are growing, the retail business is a booming one, and there are a number of retail formats.

Mom-and-pop Stores

These are small family-owned businesses, which sell a small collection of goods to the customers. They are individually run and cater to small sections of

 

 

2 Define e-tailing. Explain the future of electronic retailing.

Answer : e- telling :

The sale of goods and services through the Internet. Electronic retailing, or e-tailing, can include business-to-business and business-to-consumer sales. E-tailing revenue can come from the sale of products and services, through subscriptions to website content, or through advertising.

E-tailing requires businesses to tailor traditional business models to the rapidly changing face of the Internet and its users. E-tailers are not restricted

 

 

 

3 Discuss the Retail pricing strategies.

 

Answer : A one of the ways could be using company delivery vans which can serve two purposes – it can take the products to the customers in every corner of the market and it also enables the firm to establish direct contact with them and thereby facilitates sales promotion. The mediocre companies with sizable resources may chip in for syndicated distribution. Hats and Melas could also be great platform to display merchandise. Also, every region consisting of several villages is generally served by one satellite town termed as Mandi where people prefer to go to buy their durable commodities. If marketing companies use these feeder towns they can have a vast coverage of rural arena.

 

 

 

 

4 Describe the Retail Buying Process in brief.

Answer : The job of a Merchandiser in International Retail Company is one of the most challenging and rewarding career options for one to consider. The job of a Merchandiser entails strategizing and executing the strategies for procurement and supplier management on behalf of the Company.

 

Apart from managing and overseeing the ongoing procurement or repeat purchases, the Merchandiser’s major responsibility is to develop new products and suppliers. The process of identifying Suppliers and developing reliable Supplier

 

 

 

5 Write short notes on:

 

A. Types of retail store location examples (any five)

Answer : Types of retail store location with examples :

 

1. Department Stores :

A department store is a set-up which offers wide range of products to the end-users under one roof. In a department store, the consumers can get almost all the products they aspire to shop at one place only.

 

Examples  :

Shoppers Stop, Pantaloon

 

 

 

B. Classification of retail consumers based on shopping.

Answer : Classification of retail consumers based on shopping :

 

In retail, this idea of focusing on the best current customers should be seen as an on-going opportunity. To better understand the rationale behind this theory and to face the challenge of building customer loyalty, we need to break down shoppers into five main types:

 

• Loyal Customers: They represent no more

 

 

6 Explain the Retail Merchandising Management (RMM) in brief.

Answer : Merchandising

• Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Every retail store has its own line of merchandise to offer to the customers. The display of the merchandise plays an important role in attracting the customers into the store and prompting them to purchase as well.
• Merchandising helps in the attractive display of the products at the store in order to increase their sale and generate revenues for the retail store.
• Merchandising helps in the sensible presentation of the products available for sale to entice the customers and make them a brand

 

 

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