DMKT303 RETAIL MARKETING

Description

SESSION	FEB-MARCH 2025
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	III
COURSE CODE & NAME	DMKT303 RETAIL MARKETING

 

 

Assignment Set – 1

 

 

Q1. The segmentation of retail consumers must follow different bases to justify profitability. Explain the context with examples of each bases. 10     

Ans 1.

Retail Consumer Segmentation

Consumer Segmentation in retail marketing involves dividing a broad consumer market into sub-groups based on shared characteristics, needs, or behaviors. This approach enables retailers to tailor offerings, communication, and pricing strategies to different consumer segments, ultimately enhancing profitability and customer satisfaction.

Demographic Segmentation It is the most basic and widely used segmentation method. It classifies consumers based on variables such as age, gender, income, education, occupation, and family size. For instance, a retailer

 

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Q2. What are the key components of the strategic retail planning process? 10

Ans 2.

Strategic Retail Planning

Strategic Retail Planning process involves outlining long-term goals, defining actionable strategies, and allocating resources to gain a competitive advantage in the retail industry. This process helps retailers adapt to market changes, meet customer demands, and achieve financial sustainability.

Situation Analysis

The first step where retailers assess both internal and external environments. Internally, this includes evaluating resources, past performance, and organizational capabilities. Externally, it involves analyzing market

 

 

Q3. State the concept of retail merchandising. Discuss in detail the steps followed in the merchandise management process.            2+8     

Ans 3.

Concept of Retail Merchandising

Retail Merchandising refers to the planning, sourcing, presenting, and promoting of the right product at the right place, time, price, and quantity to attract and satisfy customers, while also maximizing profits. It involves understanding customer preferences and managing inventory efficiently to ensure a consistent shopping experience. Retail merchandising is not just about product availability but also about how products are displayed, promoted, and sold to increase customer engagement and purchase behavior.

Merchandising plays a

 

Assignment Set – 2

 

 

Q4. Explain the different pricing strategies that retailers adopt to achieve their short-term and long-term goals. 10       

Ans 4.

Retail Pricing

Pricing Strategy in retail is a crucial element that directly impacts sales volume, brand positioning, profit margins, and customer perception. Retailers adopt different pricing strategies depending on market conditions, competition, product life cycle, and business goals. Some strategies aim to boost short-term sales, while others focus on sustainable long-term positioning.

Everyday Low Pricing (

 

Q5. Discuss in detail the different approaches that retailers use to enter international markets, providing relevant examples for each mode.    10       

Ans 5.

International Market Entry

expanding into international markets allows retailers to reach new customers, diversify revenue streams, and achieve economies of scale. The choice of entry mode depends on factors like investment capacity, control, risk appetite, and market conditions. Retailers adopt different strategies based on their global objectives and brand models.

Franchising is a widely used low-investment mode where the franchisor (retail brand) permits a local entrepreneur (franchisee) to use its brand name, operational methods, and marketing strategies. This

 

Q6. Provide a detailed explanation on the key components of Customer Relationship Management (CRM). 10           

CRM

customer Relationship Management (CRM) is a strategic approach focused on building, maintaining, and enhancing relationships with customers to drive loyalty and business growth. It involves using technology, processes, and data to understand customer needs and deliver personalized services. Effective CRM ensures long-term profitability by maximizing customer value over time.

Customer Data