BBR601- Modern Retail Management Process and Retail Services

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ASSIGNMENT

DRIVE	SPRING 2015
PROGRAM	Bachelor of Business Administration- BBA
SEMESTER	6
SUBJECT CODE & NAME	BBR601-Modern Retail Management Process and Retail Services
BK ID	B 1940
CREDITS&MARKS	4 Credits, 60 marks

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.

Q. 1. Throw light on the challenges faced in the international retailing.

Answer: Though International Retail Companies are Global businesses, the business and products are hugely influenced by the multi cultural and pan country specific product requirements. The product categories largely comprise of fashion clothes, food, gadgets as well as personal and luxury products. Each country and each market is characterised by different fashion trends and consumer behaviour. While the products are fast moving

Q. 2. Discuss the key features of new technology in retail formats.

Answer: A retail business model articulates how a retailer creates value for its customers and appropriates value from the markets. Innovations in business models are increasingly critical for building sustainable advantage in a marketplace defined by unrelenting change, escalating customer expectati ons, and intense competition. Drawing from extant strategy and retailing research, we propose that innovations in retail business models are best viewed as changes in three design components: (1) the way in which the activities are organized, (2) the type of activities that are executed, and (3) the level of participation of the actors engaged in performing those activities.

Q. 3. “Retailing is also based on several strategies”. Briefly explain the various retail strategies

Answer:A marketing plan that details how a business intends to offer its products or services to consumers and influence their purchases. For example, a typical retail strategy might illustrate how best to place and display a company's products in retail outlets and how to attract optimal consumer interest at those locations with such things as price discounts, placement, retailer incentives and signs.

·         Manufacturer Suggested

Q. 4. “Developing a retail strategy is a step by step approach”. Comment

Answer:Interestingly, the step by step process is the same whether you are building a relationship or trying to make a quick sale. The difference is which steps you spend the most time on and what you establish as your ultimate goal.

There are as many descriptions of the sales process as there are books on sales. Each has its own list and descriptions. Some have six steps, some eight, some twelve steps—or maybe that is a different program!

Q. 5. What are the steps involved in the franchising process?   

Answer:From drawing up a Financial Disclosure Document to figuring out what potted plants will line the storefront, when turning a business into a franchise the devil is in the details. The pay off, however, can be lucrative, as franchising is one of the best ways to spread a brand and grow a business quickly. For businesses that are looking to become franchises, there are franchise consultants. Dennis Mulgannon walked the beat as a police officer until 1983, when he decided that he wanted to start his own business. He opened a sandwich shop in the San Jose area. He named it SUBS2U. His chief competition was another upstart shop down the block called Subway. 

Here are six tips for any small business

Q. 6. Explain the following in detail

(i) Data Warehousing: In computing, a data warehouse (DW or DWH), also known as an enterprise data warehouse (EDW), is a system used for reporting and data analysis. DWs are central repositories of integrated data from one or more disparate sources. They store current and historical data and are used for creating analytical reports for knowledge workers throughout the enterprise. Examples of reports could range from

(ii) Electronic Data Interchange: What is EDI? Electronic Data Interchange (EDI) is the computer-to-computer exchange of business documents in a standard electronic format between business partners. Computer-to-computer– EDI replaces postal mail, fax and email. While email is also an electronic approach, the documents exchanged

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