MK0012- Retail Marketing

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ASSIGNMENT

DRIVE	FALL  2014
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDMMN (SEM 1)
SUBJECT CODE & NAME	MK0012- Retail Marketing
BK ID	B1723
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1 Discuss the Retail pricing strategies.

Answer : Retail pricing strategies :

1. Mark-up Pricing :

Markup on cost can be calculated by adding a pre-set (often industry standard) profit margin, or percentage, to the cost of the merchandise. Markup on retail is determined by dividing the dollar markup by retail.

Be sure to keep the initial mark-up high enough to cover price reductions, discounts, shrinkage and other anticipated expenses, and still achieve a satisfactory profit. Retailers with a varied product selection can use different mark

Q. 2 Describe the Retail Buying Process in brief.

Definition of retailing

Explanation of retail buying process

Answer: Retailingis a business or person that sells goods to the consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business.  It is a Selling of merchandise directly to the consumer. Retailing began several thousand years ago with peddlers hawking their wares at the earliest marketplaces. It is extremely competitive, and the failure rate of retail establishments is relatively high. Price is the most important arena of competition, but other factors include convenience of location,

Q. 3 Explain the Retail Merchandising Management (RMM) in brief.

Definition of Retail Merchandising

Steps involved in RMM

Answer: Retail Merchandising is an activity of promoting the sale of goods at retail.  Merchandising activities may include display techniques, free samples, on-the-spot demonstration, pricing, shelf talkers, special offers, and other point-of-sale methods. According to American Marketing Association, merchandising encompasses "planning involved in marketing the right merchandise or service at the right place, at the right time, in the right

Q. 4 Define e-tailing. Explain the future of electronic retailing.

Definition of e-tailing

Future of e-tailing

Answer: Electronic retailing (e-tailing) is a buzzword for any business-to-consumer (B2C) transactions that take place over the Internet. Simply put, e-tailing is the sale of goods online. Companies like Amazon and Dell created the online retail industry by putting the entire customer experience - from browsing products to placing orders to paying for purchases - on the Internet. The success of these and other companies encouraged more traditional retailers to create an online presence to augment their brick-and-mortar outlets.

E-tailing requires businesses to tailor traditional business models to the rapidly changing face of the Internet and its users. E-tailers are not

Q. 5 Price is a highly sensitive and visible part of retail marketing mix. Retailer’s overall profitability depends on Pricing. It plays an important role in strategic decision making process. Explain various pricing strategies are adapted by the retailer according to the situation.

Explanation of pricing in Retail

Retail Pricing strategies

Answer: Retail price is the price that a coin dealer will charge you to purchase a particular coin. This is sometimes referred to as "price". The money that a coin dealer will pay you for your coins is referred to as the "coin's value."The price the end user of a product pays. That is, if one buys a vacuum in order to use it instead of to sell it to another store, one likely pays the retail price. The retail price includes all expenses the retailer incurs, plus a mark-up.

Q. 6 Describe any three Rural retail strategies in brief.

Definition of Rural retail

Any three Rural retail strategies

Answer: Retailing can be defined as the set of activities that markets products or services to final consumers for their own personal or house hold use. This is done by organizing the availability of goods and then supplying them to consumer on a relatively small scale.The rural population dominates the Indian market with over 720 million consumers (70% of the total population) spread across 0.63 million villages in the country18. Typically Indian rural retail stores are in the form of haats and melas. Undeniably, the urban

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