Description

SESSION	JUL-AUG 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	III
COURSE CODE & NAME	DMKT303 RETAIL MARKETING

 

 

Assignment Set – 1

 

 

1. The segmentation of retail consumers must follow different bases to justify profitability. Explain the context with examples of each bases.

Ans 1.

Segmentation of Retail Consumers: Bases and Examples

Retail consumer segmentation is a strategic approach that divides a market into smaller, distinct groups of consumers who share similar characteristics, needs, or purchasing behaviors. Proper segmentation enables retailers to target their efforts effectively, optimize resources, and enhance profitability. The segmentation of retail consumers can be based on several criteria, each with unique advantages and practical applications.

1. Demographic Segmentation

This is one of the most common bases for segmentation, focusing on measurable attributes

 

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2. Explain in detail the steps followed in the strategic retail planning process.

Ans 2.

Steps in the Strategic Retail Planning Process

Strategic retail planning is a systematic approach that helps retailers develop and implement strategies to achieve their business goals. This process enables retailers to align their resources, adapt to market trends, and secure a competitive edge. Below are the key steps in the strategic retail planning process:

1. Define the Business Mission

The first step involves articulating the retailer’s mission, which serves as the foundation for

 

3. State the concept of retail merchandising. Discuss in detail the steps followed in the merchandise management process.

Ans 3.

Concept of Retail Merchandising

Retail merchandising refers to the planning, sourcing, presenting, and managing of products in a retail store to maximize sales and enhance the shopping experience. It encompasses the selection of the right products, their effective placement, and pricing strategies to attract and satisfy customers while achieving profitability. Merchandising involves aligning the retailer’s offerings with consumer preferences, market trends, and competitive dynamics. Effective merchandising creates a balance between supply and demand, ensuring that the right products

 

Assignment Set – 2

 

4. Describe in detail various pricing strategies followed by the retailers to meet their short- and long-term objectives.

Ans 4.

Pricing Strategies in Retail Marketing

Retailers employ various pricing strategies to achieve short- and long-term objectives, balancing profitability, market share, and customer satisfaction. These strategies are influenced by market conditions, competition, consumer behavior, and the retailer’s overall goals.

1. Cost-Plus Pricing This is a straightforward strategy where retailers calculate the cost of goods sold (COGS) and add a fixed percentage as profit. It ensures a consistent profit margin

           

5. There are various modes available with retailers for entering into the international market. Explain in detail each mode with suitable instances.

Ans 5.

Modes of Entry for Retailers in International Markets

Expanding into international markets offers retailers opportunities to increase revenue, diversify risks, and build global brand recognition. However, the choice of entry mode depends on factors like market potential, investment capacity, risk tolerance, and the retailer’s overall strategy. Here are the primary modes of entry with examples:

1. Exporting Exporting is a low-risk entry mode where retailers sell their products directly to

 

6. Online retail is emerging, and it is predicted to scale new heights. Interpret the statement with a suitable explanation. Also, list the advantages and disadvantages of e-tailing in the retail sector.

Ans 6.

Emergence and Growth of Online Retail

Online retail, or e-tailing, has transformed the retail landscape, fueled by advancements in technology, internet penetration, and changing consumer preferences. The COVID-19 pandemic accelerated its growth, as consumers increasingly relied on digital platforms for convenience and safety. Today, online retail is no longer just an alternative to brick-and-mortar stores but a dominant force in global commerce. It is predicted to scale new heights as technology continues to evolve, offering personalized shopping experiences, faster delivery,