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Description
| SESSION | APRIL 2024 |
| PROGRAM | BACHELOR OF BUSINESS ADMINISTRATION (BBA) |
| SEMESTER | II |
| COURSE CODE & NAME | DBB1205 – RETAIL MANAGEMENT |
Assignment Set – 1
- What are the different factors influencing retail consumers? Explain briefly.
Ans 1.
In the field of retail management, understanding the factors that affect consumer behaviour is essential to develop efficient marketing strategies and increasing satisfaction of customers. Many factors influence the behavior of retail customers, such as:
Psychological Factors: They are a combination of perception, motivation, beliefs, learning and beliefs. Perception influences how consumers perceive the information they receive about brands and products and motivation is the primary driver behind their purchasing choices. The lessons learned from previous experiences
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- Define Merchandise Planning? Explain the stages of Merchandise planning in detail.
Ans 2.
Merchandise Planning:
Planning for merchandise is an essential element of managing retail. It includes the strategic selection, distribution, procurement and sale of products to satisfy the needs of the customers, while also achieving the retail’s financial objectives. It covers a variety of activities that include assortment planning, pricing, inventory management, and promotions, all of which are aimed to increase sales, profit, and satisfaction of customers.
Stages of
- Define:
Market Segmentation
Retail communication Mix
Ans 3.
Market Segmentation
Market segmentation is a shrewd method employed by companies to separate a market into distinct and distinct segments with similar characteristics, needs, or behaviours. This allows companies to customize their products or services and marketing strategies to suit the particular requirements and preferences of each segment, ultimately increasing the satisfaction of customers and maximizing profits. Market segmentation is based on realization that not all customers are alike, and that different types of customers require a different approach to reach and satisfy them.
There are a variety of ways to
Assignment Set – 2
- What is store design? Explain its elements in detail.
Ans 4.
Store Design
The term “store design” refers to the layout, interior design, and the overall layout of retail stores. It is a key factor in influencing the perceptions of customers as well as their general shopping experiences. A well-designed store will attract customers, improve brand image and ultimately increase sales. Designing a store requires careful design and analysis of various aspects to create a functional attractive, visually appealing, and friendly retail space for customers.
Elements of Store Design:
Store Layout: Store layout is the physical arrangement of displays, fixtures, aisles, and other
- Explain in detail the procedure for store administration.
Ans 5.
Store administration is an essential aspect of managing retail that includes overseeing the day-today operations of a retail establishment to ensure that it runs smoothly and maximum performance. The process for managing a store comprises a number of key steps which are listed below:
- Staff management: First step of the administration of a store is to manage the staff of the store. This involves recruiting, hiring and training, as well as scheduling and supervising employees to ensure
- Explain the modern retail formats in detail.
Ans 6.
Modern retail formats are the different types of formats for retail that have developed in response to changes in consumer preferences and technological advances, as well as market trends. These formats are distinguished by their unique approaches to marketing, customer interaction, and efficiency in operation. The most important contemporary retail formats are:
Hypermarkets: Hypermarkets can be described as large-scale retail stores that are a combination of the convenience of a supermarket with department stores. They provide a variety of goods, such as clothes, groceries, electronics and household items, all in one place. Hypermarkets are renowned for their wide