Introduction to Retail - NMIMS solved assignments

 

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Introduction to Retail

December 2021 Examination

 

 

Q1. “Pricing  is the  most  important  factor that  generates revenue and  rest other  factors generate cost in marketing mix.” Considering this fact, describe the different types of retail pricing policies exists and identify from the same, which according to you M/s. Croma Retail adapts the retail pricing policy?   (10 Marks)

 

Ans 1.

Introduction 

Profit is determined by price, at the same time as costs are determined by rest of the marketing mix. Furthermore, unlike other factors such as product attributes, promotional sports, or channel partnerships, the charge is the most flexible detail in that it can be changed quickly. There are a variety of methods by which the cost can

 

 

Q2. UNIQLO is a Japanese casual wear designer, manufacturer and retailer which owns over 800 stores in Japan and over 900 stores in abroad in Asia, Europe and USA. UNIQLO   mostly  deals   with  simple,   casual  and   fine  quality  clothes  with inexpensive prices including sportswear, baby & kid’s clothes and office wear wants to enter in Indian Market. As a Retail Consultant, explain the stages in the strategic retail planning process to enter in the Indian Domestic Market? (10 Marks)

 

Ans 2.

Introduction 

A retail company has to be able to develop retail strategies by following a step-by-step plan or system. The technique involves the assessment of the existing section of the business, the form of terminology, a list of strategic alternatives, and the selection of one or more strategies to implement due to the importance of strategic decision-making for the organization's future development. An Indian-born marketer, Shantanu was a former P&G marketer, a Uniqlo marketing manager in India, and now returns to his native country after having worked overseas.

Q3.  The  retailing  business  of  India  offers  many  varieties  and  opportunities  to consumers consuming retail products. To ensure retail business keeps up the pace at which the business grows in Indian context it is important for retail companies to keep adding value to the consumers choice.

a.   From the viewpoint of the manufacturer, wholesaler and retailer, value is embodied by a series of activities and processes a value chain that offers a certain value for the  consumer.  Considering  the  fact,  identify  the  different  aspects  of  a  value- oriented retail strategy one should follow     (5 Marks)

 

Ans 3a)

Introduction 

The distribution of the products will be mediated by several different stakeholders: the consumer, the retailer, the wholesaler, and the wholesaler. It is extremely likely that those parties will agree that they will be happy with their interaction if they share a similar idea of the value they have

 

b.  In retailing business, consumers are exposed to many varieties in the business world. With more options consumers has these days it becomes challenging for brands  to  grab  the  attention  of  the  potential  customers.  Considering  the  fact, explain the factors that influences the customer’s decision-making process for retail shopper?  (5 Marks)

 

Ans 3b)

Introduction

It is also important that the store recognize its rivals' belief in them and their desire to do business with them. A company will, by understanding how their competitors are viewed, be able to become more competitive. A company should also attempt to understand why customers prefer to compete against one another instead of competing against a product. There are some

 

 

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