retail manegement (sikkim manipal university fall assignment 2014)

Sikkim manipal university fall 2014 assignment (marketing)Call 8602695861(devendra kachhi)

Q1. Discuss the retail pricing strategies.Answer: Pricing in Retail: - Pricing is one of the most important variables in retail decision-making. An integral part of the marketing mix, price is the one that most easily elicits a response from consumers. Setting the right price can influence the quantities of various products or services that consumers will buy, which, in turn, determines the total revenue and profit of the retailer. Crucial to a good marketing strategy is a good pricing policy. The prices you charge for your products and services will greatly affect the sales volume, profit levels and among other things the business image.

Pricing objectives Establish a simple yet effective pricing structure taking into consideration all your

business costs. Choose a pricing strategy to establish a market presence.

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Q2. Discuss the retail buying process in brief.Answer: Definition of Retailing- “Retailing is a set of activities that enables selling of goods and commodities to the customers or end consumer in small quantities”. A retailer is a person or an outlet through which products or services are sold to customers or the end user. Retailing is one of the key elements of a marketing and distribution strategy; it ensures that a product reaches the consumers. The word retailing originated from the French word “retailer” which means ‘to cut’ or break into pieces. In other words, retailing is the process of buying goods or products in bulk, breaking down the bulk and selling them in smaller quantities to customers or end users. However, it is the type of customer and not the activity that distinguishes a retailer from other traders; the distinction being



Q3. Explain the Retail Merchandising Management (RMM) in brief. Answer: Retail merchandising: Definition: Merchandising is a marketing practice in which the brand or image from one product or service is used to sell another. Merchandising, as commonly used in marketing, also means the promotion of merchandise sales, as by coordinating production and marketing and developing advertising, display, and sales strategies to increase retail sales. This includes disciplines in pricing and discounting, physical presentation of products and displays, and the decisions about which products should be presented to which customers at what time. According to American Marketing Association, merchandising encompasses "planning involved



Q4: Define e-tailing. Explain the future of electronic retailing. Answer: E-tailing Electronic retailing, also known as e-tailing, deals with selling products and services online via the Worldwide Web. Internet retailing or ‘e-tailing’, as it is usually referred to, covers retailing using a variety of different technologies or media. It may be broadly a combination of two elements. One is combining new technologies with elements of traditional stores and direct mail models and the second is using new technologies to replace elements of store or direct mail retail.Future of Electronic Retailing Online retail is emerging and this year it is predicted to scale new heights. The future trends to watch are as follows:

In-store pick up. In-store pick up refers to that you can order it online and pick up in store. We have seen that Wal-Mart implemented in-store pick up for orders which are placed online. Sears and Kmart are going a step further and bringing online purchases to your car.

Mobile Applications. Different applications are on the rise and smartphones are the



Q5. Price is a highly sensitive and visible part of retail marketing mix. Retailer’s overall profitability depends on Pricing. It plays an important role in strategic decision making process. Explain various pricing strategies are adapted by the retailer according to the situation.

Answer: Pricing in Retail: - Pricing is one of the most important variables in retail decision-making. An integral part of the marketing mix, price is the one that most easily elicits a response from consumers. Setting the right price can influence the quantities of various products or services that consumers will buy, which, in turn, determines the total revenue and profit of the retailer. Crucial to a good marketing strategy is a good pricing policy. The prices you charge for your products and services will greatly affect the sales volume, profit levels and among other things the business image. Pricing objectives

Establish a simple yet effective pricing structure taking into consideration all your business costs.



Q6: Describe any three rural retail strategies in brief. Answer: The rural retail market with its vast size and demand base offers great opportunities to marketers. Two-thirds of the consumers in the country live in rural areas and almost half of the national income is generated here. India's population lives in 6,30,000 villages approximately,

which can be sorted under different parameters such as literacy levels, accessibility, income levels, penetration, distances from nearest towns, etc. The National Council of Applied Economic Research (NCAER) study shows that there are approximately twice as many lower middle-income households in rural areas as that of urban areas. Rural markets report over 60% of the national demand. Associated Chambers of Commerce and Industry of India (ASSOCHAM) revealed that approximately 200 million out of 700 million rural population in India is carrying on agricultural and non-agricultural activities, and have a respectable per capita inco Rural retailers attempt to satisfy needs and wants by providing customized merchandise, space and time utility to consumers who stay in any place havin. purchase full assignment fall assignment 2014 marketing only 750 for all subject


g a population of less than 5000, density of population less than 400 per sq. km and more