MK0012 –Retail Marketing

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	Master of Business Administration- MBA
SEMESTER	Semester 3
SUBJECT CODE & NAME	MK0012 –Retail Marketing
BK ID	B1723
CREDIT & 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.

Question. 1. How Retail formats can be classified? Elucidate your answer with example.

Answer:Retailers are the last link in the distribution channel and they perform various important functions, which are as follows:

(a)  Uninterrupted Supply - A retailer ensures continuous supply of products to consumers. He purchase goods in large quantity, breaks the bulk and sell in small segments to final users.

(b)  Large Variety - Retailers buy merchandise from different sources and provide a wide variety to consumers.

(c)  Financing - Some retailers provide credit facility to consumers.

(d)  Transportation - Retailers carry goods from

Question. 2. Define target marketing & what can be different types of target markets for retailers?

Answer:A target market is a group of customers a business has decided to aim its marketing efforts and ultimately its merchandise towards. A well-defined target market is the first element of a marketing strategy. Product, price, promotion, and place are the four elements of a marketing mix strategy that determine the success of a product or

Question. 3. Briefly discuss different types of retail store locations? What are their advantages & disadvantages?

Answer:A multiple shop system is a network of branch shops, situated at different localities in the city or in different parts of the country, under a centralised management and dealing in similar lines of goods. Such multiple shops are very common and popular in the West and are known as CHAIN STORES. According to J.L. Fri, “Chain stores are a group of stores handling similar lines of merchandise with single ownership and centralised location.”

The Federal Trade Commission defines a chain store as “an organisation owing a controlling interest in two or more establishments which sell

Question. 4. Explain the concept of merchandise management?

Answer: In the fierce competition of retail, it is very crucial to attract new customers and to keep the existing customers happy by offering them excellent service. Merchandising helps in achieving far more than just sales can achieve.

Merchandising is critical for a retail business. The retail managers must employ their skills and tools to streamline the merchandising process as smooth as possible.

What is Merchandising?

Question. 5. Describe Integrated Marketing Communication (IMC).Discuss the reasons for implementing IMC.

Answer:Integrated Marketing Communications (IMC) is an expansion of modern and traditional marketing strategies, to optimise the communication of a consistent message conveying the company's brands to stakeholders. Coupling various methods together is added value in creating successful communication as it harnesses the individual benefits of each channel, which when combined together builds a clearer and vaster impact than if used individually. Achieving synergy and clarity amongst the elements is then able to

Question. 6. Write short notes on:

a) Market entry method

Answer:A market entry strategy is the planned method of delivering goods or services to a new target market and distributing them there. When importing or exporting services, it refers to establishing and managing contracts in a foreign country.

Many companies successfully operate

b) E-tailing

Answer:E-tailing began to work for some major corporations and smaller entrepreneurs as early as 1997 when Dell Computer reported multimillion dollar orders taken at its Web site. The success of Amazon.com hastened the arrival of Barnes and Noble's e-tail site. Concerns about secure order-taking receded. 1997 was also the year in which Auto-by-Tel reported that they had sold their millionth car over the Web, and CommerceNet/Nielsen Media reported that 10 million people had made purchases on the Web. Jupiter research predicted that e-tailing would grow to $37 billion by 2002.

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