Winter-2015 Get solved assignments at nominal price of Rs.125 each. Mail us at: [email protected] or contact at 09882243490 Master of Business Administration - MBA Semester 3 MK0012-Retail Marketing (Book ID: B1723) Assignment (60 Marks) Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60 Q1. Define Private Branding. Explain the growth drivers of private label in detail. Answer. A private brand is a product that is exclusively manufactured for a retailer. The retailer will market the product under its own brand name. Prices for private brands are usually set cheaper than competing name brands. Consumers often think that private brands are of lower quality, but that perception is changing. Examples Common examples of private brands include: • Grocery products - canned food, frozen food, rice, cereal, sodas, etc. Q2. Describe the Retail Buying Process in brief. Answer. Retail Buying Process These basic psychological processes play an important role in understanding how consumers actually make their buying decisions. Marketers must understand every facet of consumer behaviour. Marketing scholars have developed a “stage model” of the buying-decision process. Q3. Explain the Retail Merchandising Management (RMM) in brief. Answer. Retail Merchandising Retail merchandising refers to the process used to conduct retail sales. As part of the process, the merchandiser pays close attention to the different types of products offered for sale, how to present those products to consumers in a best way, and determine a reasonable retail price for each unit sold. Earlier, the retailers were engaged in the task of retail merchandising in a physical location, but nowadays the Internet has made possible to apply these same basic principles in a virtual setting. Retail merchandising 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. 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 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. 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 Q6. Describe any three Rural retail strategies in brief. Answer. Rural retail Rural retailing is the fast growing aspect of retail since retailers can feel comfortable in finding suppliers and they also act as buyers. Retailing is the final phase of the distribution channel and it is clear by now that it is the availability and distribution that drive growth in the rural markets. Hence, retailing will be significant and like in the case of the urban markets, will undergo greater maturity even in the rural markets. Innovative retail models which take into account the nuances of rural retail are the way forward. Winter-2015 Get solved assignments at nominal price of Rs.125 each. Mail us at: [email protected] or contact at 09882243490