ML0011-Buying and Merchandising

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ASSIGNMENT

DRIVE	SUMMER 2015
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBAN2 (SEM 3) PGDROMN (SEM 1)
SUBJECT CODE & NAME	ML0011-Buying and Merchandising
BOOK ID	B1761
CREDIT	4
MARKS	60

Note – Answer all questions. Each question is followed by evaluation scheme.

Q.1 Explain the components of Merchandise budget plan.

Answer: - Budget plan:-

 Components of Merchandise budget plan: -

·         Review

·         Merchandise planning

·         Range planning

·         Space planning

·         Review

The review process consists of two separate activities. Firstly we carry out a Pre-Season Review of performance history to identify opportunities and problems. Secondly we "normalise" it. Normalisation is the process of looking at history and ironing out the "bumps" to make it useful as a basis for planning.

Merchandise Planning:-

Q.2 “Merchandise buying and handling is a vital part of implementing merchandise Plans”. Explain this statement.

Answer: - Merchandising is any practice which contributes to the sale of products to a retail consumer. At a retail in-store level, merchandising refers to the variety of products available for sale and the display of those products in such a way that it stimulates interest and entices customers to make a purchase.

In retail commerce, visual display merchandising means merchandise sales using product design, selection, packaging, pricing, and display that stimulates consumers to spend more. This includes disciplines and discounting, physical presentation of products and displays, and the decisions about which products should be presented to which

Q.3 Explain the different phases for selection of vendors.

Answer: - The first step towards selecting an Indian vendor is to analyze your business requirements. After the task of searching and selecting a prospective Indian vendor, you must develop a contract negotiation strategy to avoid contract negotiation mistakes. Here are five steps to help you choose the right offshore vendor from India.

1. Analyze your business requirements

It is important to first analyze your business needs before you even begin to search for a vendor in India. Assemble a vendor selection and evaluation team who would be given the responsibility of finding a suitable vendor from India. Discuss with your

Q.4 Explain inventory turnover ratio and its importance.

Answer: - In accounting, the Inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year. The equation for inventory turnover equals the Cost of goods sold divided by the average inventory. Inventory turnover is also known as inventory turns, stock turn, stock turns, turns, and stock turnover.

Q.5 “Price is a highly sensitive and visible part of retail marketing mix and has bearing on the retailer’s overall profitability”. Explain the three pricing strategies in this context.

Answer:- Price is a highly sensitive and visible part of retail marketing mix and has a bearing on the retailer’s overall profitability. Further, pricing itself is an essential part of marketing mix and has its own place in the strategic decision-making process. In subsequent sub-sections, you will learn the various pricing strategies.

Explain the three pricing strategies in this context:- A business can use a variety of pricing strategies when selling a product or service. The Price can be set to maximize profitability for each unit sold or from the market overall. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new

Q.6 Explain the following terms

(i) Retail Planograms

(ii) Signage

Answer: - Retail Planograms:- Planograms, also known as plano-grams, plan-o-grams, schematics and POGs, are visual representations of a store's products or services. They are considered a tool for visual merchandising. According to the Oxford Dictionary, "It is a diagram or model that indicates the placement of retail products on shelves in order to maximize

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Send your semester & Specialization name to our mail id :

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