BB11303 BUYING

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ASSIGNMENT

DRIVE	SPRING 2017
PROGRAM	BBA — RETAIL OPERATIONS
SEMESTER	5
SUBJECT CODE & NAME	BB11303 BUYING
BK ID	B1804
CREDITS	2
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.

Question. 1. List a few key roles and responsibilities of a retail buyer.

Answer: The world of retail is fast-paced and diverse. Behind the hustle and bustle of the shop floor lies a hard-working industry of professionals to ensure everything runs smoothly. One of the most important positions in the process is the retail buyer - the individual ultimately in charge of making sure products reach the shelves of stores.

The retail buyer is more than just a purchaser:

Question. 2. Discuss the concept of product mix & consignment buying.

Answer: Concept of product mix: Product mix, also known as product assortment, refers to the total number of product lines that a company offers to its customers. For example, a small company may sell multiple lines of products. Sometimes, these product lines are fairly similar, such as dish washing liquid and bar soap, which are used for cleaning and use similar technologies. Other times, the product lines are vastly different, such as diapers and razors. The four dimensions to a company's product mix include width, length, depth and consistency.

Width: The width of a company's product mix pertains to the number of product lines that a company sells. For example, if a company has two product lines, its product mix width is two. Small and upstart businesses will usually not have a wide product mix. It is more practical to start with some basic products and build market share. Later on, a company's technology may allow the company to diversify into other industries

Question. 3. What are the five stages of buying decision making?

Answer: The customer buying process (also called a buying decision process) describes the journey your customer goes through before they buy your product. Understanding your customer’s buying process is not only very important for your salespeople, it will also enable you to align your sales strategy accordingly.

The five stages framework remains a good way to evaluate the customer’s buying process. John Dewey first introduced the following five stages in 1910:

1. Problem/need recognition: This is often

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