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ASSIGNMENT
Course Code : MS – 612
Course Title : Retail Management
Assignment Code : MS-612/TMA/SEM – II/2015
Coverage : All Blocks
Note : Attempt all the questions and submit this assignment on or before 31st October, 2015 to the coordinator of your study centre.
- 1. a) Distinguish a retailer from retail business in the Indian context. Explain why the neighborhood small retailers still continue to be favored by the customer.
Answer:Retailing in India is one of the pillars of its economy and accounts for about 22 percent of its GDP. The Indian retail market is estimated to be US$ 500 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people. As of 2013, India’s retailing industry was essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry, and these were present only in large urban centers. India’s retail and logistics industry employs about 40 million Indians (3.3% of Indian population).
- b) Discuss the major factors which lead to unprecedented growth of retailing in the Indian scenario.
Answer:The retail real estate sector is a significant contributor to India’s economic activity. Though a quantitative measurement of the retail sector is difficult to derive through the Government statistics, the trade, hotels and restaurant sectors come close to giving an estimate of its contribution.
That component, in which retail (both organised and unorganised) is the dominant activity, accounts for around 18% of India’s GDP. Within the services
- 2. a) Distinguish traditional retail formats from modern retail formats with suitable illustrations.
Answer:Retailing as a concept is not new in India. In fact, it Dates back to the period of hard-core traditional formats of retailing that prevailed in the form of Haats, Shandis, Painth, Weekly Bazaar and the famous kirana or BaniyakiDukan.It is only during recent past that Indian retail sector is witnessing a Process of Change and is poised to undergo dynamic Transformation. RPG group forays into organized retailing with new and improved formats.India is now developing into a retail power where both organized and unorganized retail sector compete with each other.
- b) What do you understand by the term “Atmospherics” in retail business? What are the key components of atmospherics that retailer should consider for increased foot falls.
Answer:Retail atmospherics involves all details of a store’s physical environment and the effects on customers. You want shoppers to feel comfortable browsing your store and for the environment to be conducive to making a purchase. An analysis of retail atmospherics can point the way to identifying your store’s best physical features and areas that could use improvement.
Features: The number of features in an analysis
- 3. a) Critically evaluate the significance of Locational Decisions in retail business . What are the factors that the following retail businesses should consider before finalizing the site for their respective store.
- i) chain of chemist stores
- ii) leading two wheeler motorcycle dealership
iii) private brand grocery retailer
Answer:Location is the most important ingredient for any business that relies on customers. It is also one of the most difficult to plan for completely. Location decisions can be complex, costs can be quite high, there is often little flexibility once a location has been chosen and the attributes of location have a strong impact on a retailer’s overall strategy. In India, most retailers prefer to own the property rather than avail of the desired
- b) Define Merchandizing. Discuss the major objectives of merchandising in retail business and elaborate on the role and responsibilities of a merchandizing Manager in achieving the firms merchandise objectives.
Answer:In the broadest sense, merchandising is any practice which contributes to the sale of products to a retail consumer. At a retail in-store level, merchandising refers to the variety of products available for sale and the display of those products in such a way that it stimulates interest and entices customers to make a purchase. In retail commerce, visual display merchandising means merchandise sales using product design, selection, packaging, pricing, and display that stimulates consumers to spend more. This includes disciplines and discounting, physical presentation of products and displays, and the decisions about
- 4. a) Discuss and distinguish transactional marketing from relationship marketing with suitable examples. Taking any retail business of your choice suggest ways to establish customer loyalty.
Answer:While all marketing focuses on gaining clients and increasing profits, relationship marketing and transactional marketing take different views of the role of the client. The transactional approach views the client solely as a vehicle for sales, while relationship marketing establishes a relationship with the person behind the sale.
Transactional Marketing: Transactional marketing is
- b) What are the major growth drivers of Non-Store retail business in India? Discuss the challenges for their sustenance.
Answer:Retailing is a distribution channel function, where one organisation buys products from supplying firms or manufactures products themselves, and then sells these directly to consumers.
In majority of retail situations, the organisation, from whom a consumer buys, is a reseller of products obtained from others, and not the product manufacturer. However, some manufacturers do operate their own retail outlets in a corporate channel arrangement.
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