MKT303 - RETAIL MARKETING

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ASSIGNMENT

DRIVE	FALL 2017
PROGRAM	Master of Business Administration - MBA
SEMESTER	III
SUBJECT CODE & NAME	MKT303 - RETAIL MARKETING
BK ID	B1723
CREDITS	4
MARKS	30

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.

SET I

Question. 1. What is Retail Marketing Environment? Define elements in a Retail Marketing Environment.

Answer: The concept of retailing can be traced back deep into history and the development of human civilisations. However, until about half a century ago, retailers were at the end of the supply chain and their key function was to sell products offered by manufacturers. Retailers had some influence on the products made but much emphasis was placed on pushing (selling) manufactured goods. But a new approach to business emerged which laid the founding principles of marketing. These principles brought about a new way of looking at

Question. 2. Define consumer decision behavior. Explain types of decision behavior.

Answer: We have often seen that there are some purchases which require a lot of time and information to make. On the other hand there are also buying decisions which can be made with out taking time and consulting others. In this way, consumer buying behavior is broadly divided into four parts on the basis of the extent of buyer involvement and the extent of differences among brands. The explanation of four types is given and explained below.

Question. 3. Critically examine types of Store Layout.

Answer: Optimizing the organization of a retail store helps ensure that customers can find what they are looking for quickly and navigate the store with ease. Certain layouts work better for different types of stores and the buildings they reside in, but each is implemented with the same goal in mind: to generate the most sales. Consider all of your options before finalizing the layout of your store.

A store organized using a grid layout is very simple. The aisles of the store are arranged parallel to one another and lead to the checkout lanes located at the front of the store where customers enter and exit. Most people have seen this type of layout used in

SET II

Question. 1. What are Private Label Brands? Elaborate growth drivers of Private Label Brands

Answer: Private Labels are a win-win solution for retailers and customers in the current retail market structure. While retailers expect better bargaining power with their vendors, in turn better margins and control over their merchandise mix, customers get a wider range, better quality and good prices for the products.

Question. 2. Elaborate Customer Relationship Management Strategies.

Answer: With the introduction of advanced customer relationship management (CRM), businesses are finally able to place customers at the forefront. However, the technology can only do so much. In fact, even though CRM has been shown to increase revenue by 41% per salesperson on average, it is estimated that 43% of businesses that utilize CRM are failing to use even half of their CRM systems correctly.

In a report for Forrester, analyst William Band surveyed

Question. 3. Describe the four stages of International Business.

Answer: All businesses experience the effects of foreign markets and competition in today's global economy. Because of this, some small businesses are taking steps to exploit not only a domestic market but also markets in other parts of the world. A first step in deciding whether or not to adopt a global perspective is gaining an understanding of the differences between the domestic, international, multinational and global levels of business activity.

Dear students get fully solved 

Send your semester & Specialization name to our mail id :

“ help.mbaassignments@gmail.com ”

or

Call us at : 08263069601