DMKT303 RETAIL MARKETING

Description

ASSIGNMENT

SESSION	MARCH 2023
PROGRAM	MASTER of business administration (MBA)
SEMESTER	III
course CODE & NAME	DMKT303 – RETAIL MARKETING
CREDITS	4
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

 

Assignment Set – 1

 

 

1. Consumer takes different decisions based on degree of search, level of prior experience, frequency of purchase, amount of perceived risk, and time pressure. Justify the statement with suitable interpretation.

Ans 1.

Consumer decision-making is an intricate process that involves various factors and can greatly differ from individual to individual based on a range of personal circumstances and perceptions. The degree of search, level of prior experience, frequency of purchase, amount of perceived risk, and time pressure are all crucial elements that shape a consumer’s decision-making process. Understanding these factors will help shed light on consumer behavior and

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2. A retailer does have multiple alternatives when decision has to be taken in respect of store location. Explain the relevance of statement with detailed explanation of categories of store location.

Ans 2.

Choosing the right store location is one of the most critical decisions that a retailer makes, and it can significantly impact the success of their business. Store location directly influences customer traffic, brand visibility, and accessibility, making it a determinant of sales volume, customer satisfaction, and overall business profitability. There are several categories of store

 

3 Define retail merchandising. Explain the steps followed in merchandise management process.       

Ans 3.

Retail merchandising

Retail merchandising is the strategic process and approach designed to maximize retail sales by utilizing a deep understanding of consumer behavior. It encompasses a wide range of activities and decisions, from the selection, purchase, and delivery of products, to the arrangement and presentation of goods in-store to attract and engage customers. Retail

 

Assignment Set – 2

 

1. Describe in detail various pricing strategies followed by the retailers to meet their short- and long-term objectives.

Ans 1.

Price is a highly sensitive and visible part of retail marketing mix and has a bearing on the retailer’s overall profitability. Further, pricing itself is an essential part of marketing mix and has its own place in the strategic decision-making process. In subsequent sub-sections, you will learn the various pricing

 

2. There are various modes available with retailers for entering into international market. Explain in detail each mode with suitable instances.

Ans 2.

There are various modes available for entering into a market:

• Exporting.
• Licensing.
• International sub-contracting.
• Joint ventures.
• Wholly owned subsidiary.

 

3. Online retail is emerging, and it is predicted to scale new heights. Interpret the statement with suitable explanation. Also, list the advantages and disadvantages of e-tailing in retail sector.

Ans 3.

Online retail is emerging and this year it is predicted to scale new heights. The future trends to watch are as follows:

• In-store pick up. In-store pick up refers to that you can order it online and pick up in store. We have seen that Wal-Mart implemented in-store pick up for orders which are placed online. Sears and Kmart are going a step further and bringing online