Monday, July 29, 2013

ML0012 - Store Operations




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Summer 2013

Master of Business Administration- MBA Semester 3

ML0012 - Store Operations

Q1. Explain Pre-Store opening activities and State at least 10 pre-store opening activities that should be ideally carried out in a retail store?
(Meaning of Pre-Store opening activity – 2 marks, 10 activities - 8 marks) 10 Marks

Answer : Pre-store opening activity :

There are a number of things to learn about before opening a retail store. Launching such a venture involves steps like market research, business plan development and financial planning. Understanding what it takes to start and run a business before you move forward will increase your chances at success. For best results, read through economic indicators of the local retail market for the past several years, and learn about projections for the retail market in the future.

Q2. What are the functions of a store manager?
(Brief explanation of at least 10 functions of a retail store manager – 10 marks) 10 Marks

Answer :  Functions of store manager :

1. Promotion:

In smaller retail operations that are not part of larger chains, the store manager is often responsible for developing and implementing promotional programs. He may create advertising campaigns, place ads in local newspapers, purchase advertising time on local radio or television stations, or arrange events like product demonstrations by manufacturers or distributors.


Q3. What does an optimum store layout ensure?
(Brief explanation of at least 10 factors which explains optimum store layout – 10 marks) 10 Marks

Answer :  Factors in optimum store layout :

1. Don’t place merchandise in the “decompression zone.”

When consumers enter a store, they tend to turn to the right. Position merchandise with this in mind. A psychological shift also occurs when inside a store, so patrons typically don’t notice merchandizing displays within 15 feet of the entrance.


Q4. Write a note on any two types of classification on the basis of the nature of merchandise.
(Classification on basis of Nature of Merchandise – 7 marks, Classification on the basis of usability and condition of merchandise – 3 marks) 10 Marks

Answer : Classification on basis of Nature of Merchandise:

Merchandise Inventory is the largest asset for most merchandising business. Keeping the right amount of inventory in stock can be challenging. If you have too much inventory, you are spending your cash for items that are not selling. If you do not keep enough inventory in stock and you run out of items, you may lose customers to the competition. It is important for a merchandising business to maintain an inventory system that will help keep the right amount of inventory on hand.

Q5. Define standardization and explain the levels of standardization .
(Explanation of standardization – 2 marks, Explaining the levels of standardization - 8 marks) 10 Marks

Answer : Standardization :

Standardization is the process of developing and implementing technical standards. The goals of right standardization can be to help with independence of single suppliers (commoditization), compatibility, interoperability, safety, repeatability, or quality. In social sciences, including economics, the idea of standardization is close to the solution for a coordination problem, a situation in which all parties can realize mutual gains, but only by making mutually consistent decisions.

Q6. How does a store control the quality of its merchandise?
(Detail explanation of five steps in quality control procedure - 10 marks) 10 Marks

Answer : Steps in quality control procedure :

 Retail business differ from other business types in that most specialize in selling already-produced goods rather than manufacturing products from raw materials. The retail sector boasts immense variety, including e-commerce, mail order, vending machines, home party sales and service providers, according to Entrepreneur.com. Small business retailers rely on quality goods and services to compete with other small businesses and larger competitors.


Dear students get fully solved assignments

Send your semester & Specialization name to our mail id
->  help.mbaassignments@gmail.com
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