DBB3123 & BUYING BBA 5

Description

SESSION	FEBRUARY- MARCH,2025
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	V
COURSE CODE & NAME	DBB3123 BUYING

 

 

Assignment Set – 1

 

 

Q1. What are the key factors that make planned buying essential in retail?       10       

Ans 1.

Planned Buying

Planned buying refers to the systematic process of determining what, when, and how much merchandise to purchase for a retail store. It ensures that retailers procure inventory in alignment with customer demand, budget, and business goals. This method is crucial for avoiding overstocking or understocking, maintaining profit margins, and achieving operational efficiency.

Inventory Management and Control

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Q2. Analyse the significance of social media monitoring in gathering primary data.     10

Ans 2.

Social Media Monitoring

Social media monitoring involves tracking and analyzing conversations, mentions, and trends across platforms like Facebook, Instagram, Twitter, and LinkedIn. In today’s digital age, it serves as a powerful tool for collecting primary data directly from target audiences in real-time. Retailers increasingly

 

Q3. Explore the significance of negotiation in the retail sector.    10

Ans 3.

Negotiation in Retail

Negotiation is a critical skill in retail, where business success often hinges on achieving the right balance between cost, quality, and service. It is the process of discussing terms with suppliers, vendors, or even

 

Assignment Set – 2

 

Q4. Describe the steps for analysing a foreign market and their importance in the buying process. 5+5       

Ans 4.

Foreign Market Analysis

Foreign market analysis is a critical step in the retail buying process, particularly when expanding into or sourcing from new international markets. It enables buyers to understand the cultural, legal, economic, and customer-specific aspects of a foreign country before making key purchasing decision

 

Q5. Assess the significance of vendors in the retail supply chain and highlight the key characteristics that set them apart from other types of suppliers in the retail industry. 3+4+3

Ans 5.

Vendors in Retail Supply Chain

Vendors are vital contributors in the retail supply chain, acting as the primary link between manufacturers and retailers. They are responsible for supplying ready-to-sell merchandise to stores, and they often work closely with retail buyers to ensure that the right products reach the market at the right time. The vendor-retailer relationship is based on mutual trust, timely deliveries, and quality assurance. Vendors not only supply goods but also influence inventory planning, merchandising

 

Q6. Discuss the various types of retail stores and their unique characteristics and advantages.  4+3+3          

Ans 6.

Types of Retail Stores

Retailing encompasses a variety of store formats, each designed to serve different customer needs, preferences, and shopping behaviors. The format of a retail store influences product assortment, pricing strategies, customer service levels, and even store layout. Understanding the different types of