DBB3321 MODERN RETAIL MANAGEMENT PROCESS AND RETAIL SERVICES

Description

SESSION	JANUARY  2024
PROGRAM	BACHELOR of business administration (BBA)
SEMESTER	VI
course CODE & NAME	DBB3321 & Modern retail Management Process and Retail Services
CREDITS	4
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

Assignment Set – 1^st

Questions

1. Explain the classification of retail business done on merchandises offered and based on ownership.

Ans:Retail businesses can be classified based on two primary criteria: the type of merchandise they offer and the ownership structure. These classifications help differentiate retail establishments based on their core characteristics and business models.

Classification Based on Merchandises Offered:

Food and Grocery Retailers:  Its Half solved only

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2. Discuss the concept of multichannel retailing. Explain the challenges faced in multichannel retailing.

Ans: Multichannel retailing, also known as Omni channel retailing, refers to the strategy where a retailer offers its products or services through multiple sales channels, providing customers with various options to purchase. This approach acknowledges the diverse ways consumers prefer to shop, whether online or offline, and aims to create a seamless and integrated experience across

 

3. Retail strategy is important to achieve the market share in cutthroat competitive market. Keeping this statement in consideration, illustrate the importance of retail strategy.

Ans:Retail strategy plays a crucial role in the success and sustainability of a business in the cutthroat competitive market. It involves the planning and execution of various elements to meet the needs of customers, create a competitive advantage, and achieve long-term success.

Here are key points illustrating the importance of retail strategy: 

Market Differentiation:  Retail strategy helps a business stand out in a crowded market. By identifying and

 

Assignment Set – 2^nd

Questions

4. FDI plays important role in the economic growth. Explain the impact of FDI in a country.

Ans: Foreign Direct Investment (FDI) plays a significant role in the economic growth of a country by bringing in capital, technology, managerial expertise, and contributing to various aspects of the economy.

The impact of

 

 

5. Explain the use of information technology and also discuss the factors affecting the use of information technology.

Ans: Use of Information Technology (IT):  Information Technology (IT) encompasses the use of computer systems, software, networks, and other technologies to manage and process information. In various sectors, IT plays a critical role, offering a range of applications that enhance efficiency, productivity, communication, and decision-making.

Here are some key areas where IT is commonly used: 

Communication:  Email, instant messaging, video conferencing, and collaborative platforms facilitate seamless communicate

 

6. Describe the ethical aspects in retailing with the help of examples.

Ans:Ethical considerations in retailing are crucial for maintaining trust with customers, fostering positive relationships with stakeholders, and ensuring sustainable business practices.

Here are some ethical aspects in retailing, along with examples: 

Fair Labour